Nigeria in 1min: Economic, Business and Financial Headlines – 120719


Friday, July 12, 2019 / 06:40 AM / By News Aggregator / Header Image Credit: NSE


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TSA: FG Collects N10tn From 1,674 MDAs - Since the start of the implementation of the Treasury Single Account in 2012, the Federal Government has collected over N10tn from 1,674 Ministries, Departments and Agencies. The TSA initiative, which is one of the public financial management reforms, had led to the closure of over 20,000 bank accounts. Source Punch Read More

External Debt Servicing Gulps $357.26m In Three Months - The Federal Government spent a total of $357.26m in the first three months of the year to service external debt, the Debt Management Office has disclosed. Statistics obtained from the DMO in Abuja on Thursday showed that commercial loans gulped the largest amount spent on external debt servicing in the first quarter of the year. Source Punch Read More

OPEC Predicts Lower Demand for its Oil in 2020 - The Organisation of Petroleum Exporting Countries (OPEC) Thursday predicted that the world demand for its crude oil would decline next year as rivals pump more, pointing to the return of a surplus despite an OPEC-led pact to curb supplies to the global market. Source Thisday Read More


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CBN Delivers Another News On Standing Deposit Facility of Nigerian Banks - Late yesterday, the Central Bank of Nigeria delivered another news to commercial banks, which now comes in form of a voluntary rejection of excess liquidity deposited by the banks to CBN via the Standing Deposit Facility (SDF). Source ARM Read More 


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Investors Lose N264.97bn As NSEASI Dips By -1.86%; Closes Below 29,000bpts - Equities market closed today on a negative note, as NSEASI depreciated by 1.86% to close at 28,712.90 points as against 0.21% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -8.65%. Source Proshare Read More

TOURIST, CCNN and 21 Others Have Free Float Deficiencies - The issue of free float deficiencies of listed entities on The Exchange remained one of the critical listing requirements that is constantly reviewed. Source Proshare Read More


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Ecobank Workers Protest Termination of Contract; Bank Insists Action Taken Without Prejudice - Workers at Ecobank Nigeria Plc this morning carried out a protest at the Head Office of the bank at Victoria Island Lagos. The workers and their union representatives carried placards insisting that the bank should renew a two-year contract entered into between the bank and its contract workers in 2017. Source Proshare Read More

CBN Mobilises Military Support for Textile Industry - Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, Thursday urged service chiefs as well as chief executives of para-military organisations and other agencies, to support the ongoing initiatives by the apex bank to revive the cotton, textile and garment (CTG) industry, through their patronage of locally manufactured uniforms. Source Thisday Read More

Nigeria Dominates Africa’s Most Inspiring Businesses’ Ranking - A list identifying and celebrating Africa’s most inspiring businesses is made of up of 97 Nigerian firms, which accounted for 27 per cent of the total, the highest among countries surveyed in the region. Source Thisday Read More

NCC Charges Telcos To Double Telecom Investment To $140bn - The executive vice chairman, Nigerian Communications Commission (NCC), has charged licenced mobile network operators (MNOs) to double their telecom investments to $140 billion over the next 10 years by deploying pervasive network infrastructure across the country. Source Leadership Read More 

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MSMEs Grew To 41.5m In 2017 – NBS - The Micro, Small & Medium Enterprises (MSME) has grew to 41.543 million in 2017, according to the National Survey of Micro Small & Medium Enterprises (MSMEs). The National Survey of Micro Small & Medium Enterprises (MSMEs) 2017 launched yesterday in Lagos, was conducted by the National Bureau of Statistics (NBS), showed that the total number of enterprises as at December, 2017 stood at 41.543 million. Source Leadership Read More  

AfCFTA Agreement: NANTS Urges FG To Boost MSMEs Funds, Productivity - The National Association of Nigerian Traders (NANTS) has called for increased funds and productivity for the Micro, Small and Medium Enterprises (MSMEs) to benefit from African Continental Free Trade Area (AfCFTA) agreement. Source Vanguard Read More

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