Nigeria in 1min: Economic, Business and Financial Headlines – 260319


Tuesday March 26, 2019 / 7:06 AM / By News Aggregator / Header Image Credit: @AsoRock


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No Change Again Expected From The MPC - The monetary policy committee (MPC) holds its latest meeting today and tomorrow in Abuja. Source FBNQuest  Read More 

Nigeria Loses N302bn To Gas Flaring In One Year - Gas flaring has continued to take its toll on the Nigerian economy, the environment and the lives of the people of oil-producing communities, as the country lost $987.175 million, about N302.076 billion in 2018, to the continuous flaring by oil and gas firms operating in the petroleum industry. Source Vanguard Read More 

Nigeria, Others Need 20.4 Million New Jobs Yearly – IFC - Africa needs 1.7 million new jobs every month. The only way to do it is to develop a striving and competitive sector enabled by free trade and opportunities across the continent. We, therefore, need visionaries, new markets and pragmatists. Source Punch Read More 


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Guaranty Trust Bank Plc - Slower But Persistent Earnings Growth in Near Term - At its full year 2018 analysts conference call and our follow up engagement, management guided to a 10% growth in loans over 2019, with focus on oil & gas sector, retail clients and manufacturing sector. Source ARM Research Read More 

Afrinvest Stock Recommendation For The Week 250319 - The first four trading days of the week witnessed sustained sell-offs as market sentiment remained largely bearish. Source Afrinvest Research Read More 

Average Money Market Rate Rose By 3.12% To Settle At 14.54% - The money market rate increased marginally last week as the Overnight rate (OVN) and Open Buy Back (OBB) rose to 14.83% and 14.25% respectively. Source Anchoria AM Research Read More 

Investors Lose N36.19bn as NSEASI Dips By -0.31% To Open The Week Negative - Equities market closed today on a negative note, as NSEASI depreciated by 0.31% to close at 31,042.32basis points as against 0.82% appreciation recorded previously. Source Proshare Read More 

Funding Rates Spike as Banks Fund for CBN’s Wholesale Auction - The FGN Bond market remained relatively flat, except for slight demand on some short tenors following coupon payments on the FGN 2024 Sukkuk and FGN 2025 Bonds. Source Zedcrest Capital Read More 

FG Reopens N100bn Bond Offer This Week - The Federal Government is scheduled to reopen the APR-2023, MAR-2025 and FEB-2028 bonds for subscription by offering investors N40bn each from the APR-2023 and MAR-2025 bonds and N20bn from the FEB-2028 bond . Source Punch Read More


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Why Nigeria Needs To Urgently Pass and Sign The CAM Bill 2018 - Legislations on how businesses operate constitute part of the key drivers for attracting investments and growth in an economy. From India, United Arab Emirates, Rwanda, Sweden to even Mauritius, nations understand that there is a nexus between effective business laws and economic development. Source Proshare Read More 

New Harmonized Code of Corporate Governance – Legal Alert - Recent efforts to institute and promote a more modern, updated and harmonised Code of Corporate Governance best practice has usually ended in controversy. Source Oserogho & Associates Read More 

Buhari Rejects Malami’s Plot To Enforce Judgement Against Oil Firms - President Muhammadu Buhari has rejected a request from his attorney-general and minister of justice, Abubakar Malami, to enforce a consent judgment made by the Supreme Court against international oil companies in Nigeria on the grounds that the said judgement was made in violation of the constitution. Source Businessday Read More 

Boeing Tests New Software For Embattled B737Max Planes, Meets Customers - United States’ commercial airplane manufacturer, Boeing, has tested software changes to a key stabilisation system on the embattled B737Max aircraft.Pilots from three U.S. carriers – American, Southwest and United – conducted the test-run that proved successful, ahead of an update session with about 200 pilots and technicians this Wednesday. Source Guardian Read More

Transcorp Okays $2.5b For Power Sector - The Transnational Cor-poration of Nigeria Plc yesterday said it plans to invest $2.5billion in the power sector to boost power supply across the country. The investment will be made through its subsidiary, Transcorp Power Limited. Source TheNation Read More 


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