Nigeria in 1min: Economic, Business and Financial Headlines – 080819


Thursday, August 08, 2019 / 06:20 AM / By News Aggregator / Header Image Credit: @seyiamakinde


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Sugar Prices Dropped By 0.42% Due To Improved Weather Conditions In India - The Nigerian economy like most other emerging markets have seen their economies wobble in the last week. Most analysts are of the view that this is a temporary phenomenon and that the markets will settle. Brent has lost 7% falling to $60.45pb.   Source FDC Ltd Read More

Oil Struggles As Markets Rocked By Trade War – OIR 060819 - We will then look at some of the key market movers early this week before providing you with the latest analysis of the top news events taking place in the global energy complex over the past few days. We hope you enjoy. Source Tom Kool of Read More

Budget Threatened As Oil Price Sinks To $56 - The international oil benchmark, Brent crude, tumbled on Wednesday to $56 per barrel, its lowest level in seven years as the United States-China trade war worries gripped the market. The decline in oil price imposes a serious threat to Nigeria’s economy as the 2019 budget is based on an oil benchmark of $60 per barrel. Source Punch Read More


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NSE Directs Dealing Member Firms To Create Corporate E-mails Within Two Months - In recent times, cyberattacks and threats have increased in frequency and size often leading to data breaches, business disruptions and reputational damage for business organisations. Source NSE Read More


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FMDQ Transits To A Full-fledged Securities Exchange - We are pleased to inform you of our Company’s transition from an OTC Market to a full-fledged Securities Exchange, having received the necessary approvals from the apex regulator of the Nigerian capital market. Source FMDQ Read More 

Market Sentiment Remains Negative As NSEASI Dips Further By -0.42% - Equities market closed today on a negative note, as NSEASI depreciated by -0.42% to close at 27,412.13 points as against -0.51% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -12.78%. Source Proshare Markets Read More 

Lafarge Africa Plc Rescheduled Court-Ordered Meeting To Hold On August 23rd, 2019 - Notice is hereby given that by an Order of the Federal High Court dated 5th July, 2019, made in the above matter, the Court has directed that a meeting of the holders (the “Shareholders”) of the fully paid ordinary shares of Lafarge Africa Plc (“the Company”). Source NSE Read More 

Access Bank Plc To Issue N30bn 15.5% Tier 2 Bond - The Board of Access Bank Plc has concluded the process for the issuance of a N30bn Tier 2 Bond due 2026.  The Central Bank of Nigeria’s No Objection to the Board Issuance as well as Securities & Exchange Commission’s approval have been obtained. Source NSE Read More 

UBA Plc To Audit Q2 2019 Financial Accounts - United Bank for Africa Plc (the Bank) wishes to inform The Nigerian Stock Exchange, its shareholders and the investing public that in line with prior years, the 2019 Half Year Results of the Bank are being audited. Source NSE Read More 

Airtel Africa Plc Announces Total Voting Rights As At July 31, 2019 - This announcement is made in accordance with the requirements of the FCA's Disclosure and Transparency Rule 5.6.1. The Company’s total issued voting share capital as at 31 July 2019 consisted of 3,758,151,504 ordinary shares of US$0.50 each (“Shares”), each with one vote. Source Airtel Africa Plc Read More 

UBA Plc To Hold Board Meeting On August 22nd, 2019 and Announces Commencement of Closed Period - The Board of Directors of United Bank for Africa Plc is scheduled to meet in Lagos at 09:00AM on Thursday, August 22, 2019 to consider, amongst other matters, the Audited 2019 Half Year Financial Results for the period ended June 30, 2019. Source NSE Read More 

Lafarge Africa Plc Issues Update On The Sale Of Lafarge South Africa Holdings - Following the approval of the sale of Lafarge South Africa Holdings (“LSAH”) by shareholders at the 60th Annual General Meeting of the Company held on Monday, 22nd July, 2019. Source NSE Read More


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16th IOD Nigeria Presidential Investiture: Amuka, Mobolurin Others To be Honoured - The Founder of Vanguard Newspaper, Mr. Sam Amuka-Pemu; Elder Stateman and Boardroom Guru, Chief Olu Akinkugbe, Managing Director of Capital Bancorp Plc, Mr. Tola Mobolurin and the Managing Director of Beloxxi Industries Limited. Source The IoD Nigeria Read More 

AMCON Gets More Powers As Buhari Assents To 2 New Laws - The Asset Management Corporation of Nigeria (AMCON) yesterday got more powers to enforce recovery of debt from persons owing legacy banks or seizure of property subject of loan obligation. This followed assent to the AMCON (Amendment) Act, 2019, and the National Biosafety Management Agency (Amendment) Act, 2019 by President Muhammadu Buhari yesterday. Source Dailytrust Read More

Eskom Wants South Africa to Take Over Majority of its Debt - The struggling state power utility can only sustain 150 billion rand of debt, company executives at a road show in London on Wednesday told investors, said Ksenia Mishankina, a senior credit analyst at Union Bancaire Privee Ubp SA, who attended the meeting. The discussions follow the announcement last week of Eskom’s record 20.7 billion rand annual loss. Source Bloomberg Read More

NNPC To Resolve Fiscal Issues With JV Partners - To attract fresh investments into the petroleum industry and encourage exploration for new oil finds to grow the oil and gas industry, the Nigerian National Petroleum Corporation (NNPC) is planning to resolve the lingering fiscal issues hindering the growth of the industry. Source Thenation Read More

Nigeria Defies Cuts As OPEC Output Slumps To Five-Year Low - Organisation of the Petroleum Exporting Countries (OPEC), has pumped its fewest barrels in more than five years in July, aided by a huge production decline in its largest producer, Saudi Arabia, alongside wavering compliance by Iran, Nigeria, Libya, and Venezuela, latest S&P Global Platts survey has shown. Source Guardian Read More


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MAS Launches Sandbox Express For Faster Market Testing Of Innovative Financial Services - The Monetary Authority of Singapore (MAS) today launched Sandbox Express to provide firms with a faster option to test innovative financial products and services in the market. Source MAS Read More

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