Nigeria in 1min: Economic, Business and Financial Headlines – 061218


Thursday December 06, 2018 / 7:00 AM / Proshare News


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Oil Makes Gains Ahead Of OPEC Summit - OIR 041218 - Today, we will take a quick look at some of the critical figures and data in the energy markets this week. Source Proshare Read More 

The Pivotal Role of FPIs - Our chart today captures the net fx flows through the CBN for three successive 12-month periods through to October, the last month for which the data are available. It does not capture the flows through autonomous (other) sources. Source Proshare Read More

Nigeria’s Melon Seed Output Remains Suboptimal In Spite of Its Market Dominance - The price of Brent oil has recovered 6.1% in the last two days to $62.58pb. The market is reacting positively to Russia and Saudi Arabia’s decision to extend the production cut agreement ahead of OPEC’s bi-annual meeting on December 6. Source  Proshare Read More 

CPS: FG Makes National Identification Number Mandatory For Workers - The Federal Government has mandated all workers under the Contributory Pension Scheme to produce their National Identification Numbers as part of their pension requirements. Source Punch Read More 

OPEC: Nigeria Under Pressure To Join Oil Output Cuts - Ahead of the meeting of the Organisation of Petroleum Exporting Countries today (Thursday), other members of the group have expressed their eagerness to rescind Nigeria and Libya’s exemptions from oil production cuts and have them join efforts to ward off a supply glut. Source Punch Read More 

FG Targets N900bn from Offshore Tax Assets - The Attorney General of the Federation (AGF) and Minister of Justice, Mr. Abubakar Malami, has disclosed that the federal government is looking to grow the tax revenue base in the coming years by N900 billion from offshore assets through the Voluntary Offshore Assets Regularisation Scheme (VOARS). Source Thisday Read More 

PMB Presents 2019 Budget To NASS Next Week - President Muhammadu Buhari  is expected to present the 2019 budget to the National Assembly next week. Source Leadership Read More 


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AMP Will Help AMCON Recover N740bn — Kuru - The Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria, Mr Ahmed Kuru, has pledged the full support of AMCON to its Asset Management Partners in the pursuit to recover 20 per cent or N740bn of the total Eligible Bank Assets of AMCON portfolio of N3.7tn in the hands of debtors. Source Punch Read More


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The CBN Accelerates Its Liquidity Mop Up Exercise With A Fourth Consecutive OMO Auction - Source Proshare Read More   

NSEASI Inches Up By 0.47% As Market Sentiment Remains Positive - Equities market closed today on a positive note, as NSEASI appreciated by +0.47% to close at 31,151.68 basis points as against +0.68% appreciation recorded previously. Source Proshare Read More 

International Breweries Q3 2018 Results Review: Neutral Rating Maintained - International Breweries’ (IB) Q3 2018 (end-Sep) results were broadly behind our estimates. Source Proshare Read More 

NSE CEO’s Welcome Address at 2018 Exchange Traded Products Conference - On behalf of the council and management of The Nigerian Stock Exchange (NSE), it gives me utmost pleasure to welcome you to the annual ETPs Conference tagged “Exchange Traded Products: Evolving investment themes, Accessing New Markets and Enhancing Portfolio Alpha”. Source Proshare Read More 

Fixed Income Market Maintains Bearish Posture As The CBN Carries On With OMO Auctions - The FGN bond market was very lethargic today with little volumes going in throughout the trading session. Sell pressures remained on the short-end of the curve, where yields ticked higher by c.29bps and c.13bps on the FGN 2020 & 2021 maturities respectively in reaction to the daily OMO auction. Source Proshare Read More

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Afromedia Plc Announces Board Changes; Appoints New Managing Director - The Board of Directors of Afromedia Plc met on 28 November 2018 and is pleased to advise the Nigerian Stock Exchange and the investing public of the following changes to the Board and the company. Source Proshare Read More


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2018 AFF: UK Restates Commitment to Supporting Africa’s Fintech Ecosystem - The United Kingdom has restated its commitment to supporting the development of the growth and development of Africa’s Fintech ecosystem. Source Proshare Read More 

No Plan to Restrict Access to Social Media, FG Says - The Federal Government has again said that there is no plan by any of its agencies to restrict Nigerians from accessing the social media. Source Dailytrust Read More 


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