Nigeria in 1min: Economic, Business and Financial Headlines – 251018


Thursday October 25, 2018 / 7:00 AM / Proshare News


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#NES24: 6 Global Lessons on Tax For The Nigerian Context- Neil McCulloch-At the panel session on “Leveraging Domestic Resource Mobilization for Sustainable Development in Nigeria” at the just concluded 24th Nigeria Economic Summit in Abuja, Dr Neil McCulloch, Principal, Policy Practice shared an interesting presentation on 6 Global lessons on tax for the Nigerian context. Source Proshare Read More


#NES24: Fiscal Governance And Taxation in Nigeria - Dr. Doyin Salami - At the 24th edition of the Nigeria Economic Summit which focused on the theme “Poverty to Prosperity:Making Governments and Institutions Work” Dr Doyin Salami a notable economist and Chairman of the Nigerian Economic Summit Group Research Team, shared his perspective on “Fiscal Governance & Taxation in Nigeria”. Source Proshare Read More

NLC Threatens To Shut Down Nigeria After Nov 6 - The Nigeria Labour Congress has asked Nigerians to stock up on food as it will soon shut down the entire country.  Source Punch Read More   

FEC Approves 2019-2021 MTEF, Puts 2019 Budget at N8.73tn - The Federal Executive Council on Wednesday approved the 2019-2021 Medium-Term Expenditure Framework and Fiscal Strategy Paper. Source Punch Read More   

Senate Suspends Plenary For Two Weeks To Probe Implementation of Budget, 2.7m Eurobond - The Senate, Wednesday suspended for two weeks to allow its standing Committees carry out what it termed, effective and robust oversight functions on Ministries, Departments and Agencies of government. Source Vanguard Read More 

House of Reps Reconstitutes 11 Standing Committees - The House of Representatives has announced the reconstitution of 11 of its 96 standing committees.  Source Daily Trust Read More   

Nigeria, Others Lose $110bn Yearly To Food-Borne Diseases —World Bank - Nigeria and other low-income and middle-income countries across the world, especially in Africa and Asia, spend $110bn in lost productivity and medical expenses in treating illnesses arising from unsafe food, a World Bank report has disclosed.  Source Punch Read More  

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Why We Implemented Forex Policy on 41 items – CBN - Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has said the bank’s decision to restrict access to the foreign exchange official window for the importation of 41 items is in the best interest of the Nigerian economy. Source Daily Trust Read More


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Original Certificates Of Capital Market Operators Now Ready For Collection-The Securities & Exchange Commission hereby notifies all Capital Market Operators (CMOs) to collect their original Certificates of Registration with the Commission. Source Proshare Read More


Nigeria’s Equities Market Halts Four-Day Gaining Streak as NSEASI Sheds -2.37%-Equities market closed today on a negative note, as NSEASI depreciated by -2.37% to close at 32,403.60 basis points as against +0.69% appreciation recorded previously. Source Proshare Read More


DMO Manages Auction Rates, With Slight Uptick on the 10-yr - The Bond Auction by the DMO was moderately subscribed, with total bid size of c.N143bn received of the N115bn offered. The DMO however raised only a total of c.N88bn which was c.N8bn less than the c.N96bn sold at the previous auction. The DMO maintained rates on the 2023 and 2025 bonds at 15.00% and 15.15% respectively, while the clearing rate on the 2028 bond ticked higher by c.7bps to 15.32% from its level (15.249%) at the previous auction. Source Proshare Read More


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List of AMCON’s Top 105 Debtors-The Asset Management Corporation of Nigeria (AMCON) has decided to publish detailed list of all erring debtors that have failed and or refused to reach settlement resolution with the Corporation. Source Proshare Read More


Ex-Afren CEO And COO Convicted Of Fraud And Money Laundering In Over $300m Oil Deal-The bosses of Afren schemed with their Nigerian partner Oriental Energy to receive millions in secret payoffs while their company went bust. They were convicted in a UK court today. Source Proshare Read More


Airtel Formally Unveils 4G LTE Network in Lagos - Airtel Nigeria, yesterday, officially launched its 4G LTE network in Lagos State, bringing the total number of areas of coverage to 16 states and 60 cities since February 13, when it first launched its 4G LTE network in Ibadan, Oyo State. Source Thisday Read More


Nigeria Among Countries With Costly Internet Service - Due to high cost of mobile data, over two billion people are said to have been cut off from the Internet. Source Guardian Read More 

$8.1bn MTN Sanction is Hampering Investors’ Confidence in Economy - The federal government yesterday admitted that the recent $8.1 billion fine imposed on MTN Nigeria and four other banks by the Central Bank of Nigeria (CBN) over foreign exchange infractions has had negative impact on investor-confidence in the economy. Minister of Finance, Mrs. Zainab Ahmed, said authorities had since been working to offer some explanation to investors on how the matter was being resolved. Source Thisday Read More 


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AI in Foreign Exchange Trading (Forex) – Current State of the Sector-NASDAQ estimates more than $5 trillion is traded every day in what it describes as “the most actively traded market in the word:” foreign exchange, or forex. Source Proshare Read More


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