Nigeria in 1min: Economic, Business and Financial Headlines – 190419

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 Friday, April 19, 2019 / 7:00 AM / By News Aggregator / Header Image Credit: EFInA

 

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PROSHARE ECONOMY

Average Fare Paid By Commuters Intercity Increased By 2.85% MoM to N1,592.07 in March 2019 – NBS - The Transport fare watch report for March 2019 covers the following categories namely bus journey within the city per drop constant route ; bus journey intercity, state route, charge per person; air fare charge for specified routes single journey; journey by motorcycle (Okada) per drop; and water way passenger transport. Source NBS Read More

President Buhari Signs N30,000 National Minimum Wage Into Law - President Muhammadu Buhari today signed into law the national minimum wage bill which prescribed a national minimum wage of N30,000 for Nigerian workers, by this action the bill now becomes an Act of Parliament. Source Proshare Read More

Fed Govt To Divest 60% Stake In BOA - The Director-General, Bureau of Public Enterprises (BPE), Mr. Alex A. Okoh, who spoke at the meeting for the recapitalisation of the bank in Abuja, said the bank has been performing sub-optimally due to the myriad of challenges it faced since inception in 1972. Source ThaNation Read More

‘Agric Contributed 40% To GDP In 2018’ - The National Cereals Research Institute (NCRI) has said the agricultural sector contributed 40 per cent to the Gross Domestic Product (GDP) last year and employed 70 per cent of Nigeria’s population. The institute’s Executive Director, Dr. Aliyu Umar stated this during the yearly research review meeting held at NCRI Badeggi in Niger State. Source TheNation Read More  

 

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PROSHARE REGULATORS

CBN Issues Guidelines for Licensing and Regulation of Primary Mortgage Banks in Nigeria - The CBN issued the Revised Guidelines for Primary Mortgage Banks in Nigeria in November 2011, to re-position the mortgage sub-sector with a view to harnessing its potentials for sustained economic growth. The guidelines introduced enhanced requirements for capital, risk management, internal control and corporate governance. Source CBN Read More

CBN Releases Guidelines On Pillar 2 Risks And Stress Testing For Banks - Following the issuance of Exposure Drafts (EDs) of the Guidelines for Pillar 2 Risks (Interest Rate Risk in the Banking Book, Reputational Risk, Credit Concentration Risk, and Business Risk) and Stress Testing in Q2 2018 and the receipt of comments from stakeholders, the Central Bank of Nigeria hereby issues the following Final Guidelines. Source CBN Read More

 

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PROSHARE MARKETS

ETI Successfully Raised $450m Via Its Debut Eurobond - Ecobank Transnational Incorporated, ETI, the Lomé-based parent company of the Ecobank Group, is pleased to announce that it has successfully raised $450 million in its debut Eurobond which was oversubscribed. Source NSE Read More 

Investors Gain N197.51bn WoW As NSEASI Inches Up By 1.78% To Close The Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by 0.39% to close at 30,086.31 points as against 0.76%  appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -4.28%. Source Proshare Read More 

CBN Injects $254.8m, CNY35.8m into Forex Retail SMIS - Following the injection of $210 million into the wholesale segment of the Inter-Bank Foreign Exchange market on Tuesday, April 16, 2019, the Central Bank of Nigeria (CBN) has intervened in the retail Secondary Market Intervention Sales (SMIS) with the sum of $254.8million. Source CBN Read More 

Corporate Earnings For The Week Ending 180419 – FBNH Declares N59.74bn PAT in 2018 Audited Results - Quoted firms declared their results as JBERGER Tops With PAT in Corporate Earnings For The Week. Source Proshare Read More


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PROSHARE BUSINESS 

PEBEC Engages NBA Section on Business Law On Provisions In CAM Bill 2018 - The Presidential Enabling Business Environment Council, PEBEC, hosted a stakeholders forum in collaboration with the Nigerian Bar Association, NBA, Section on Business Law. Source Proshare Read More

PFAs Invest N638.89bn Pension Funds In Banks - Pension Funds Administrators have invested N638.89bn pension funds in the banking industry as of the end of January 2019, according to the latest figures from the National Pension Commission. Source Punch Read More

 

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