Nigeria in 1min: Economic, Business and Financial Headlines - 010421

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Thursday, April 1, 2021 / 5:54 AM / By News Aggregator / Header Image Credit: Twitter; @nsenigeria

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COVID-19 Health Updates 

  • 31st of March 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 162,891 cases (New: 129)
  • Discharged:  151,648
  • Deaths: : 2057 (New: 1)

Source: NCDC Read More

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PROSHARE ECONOMY

GCR Issues Highest AAAplus (NG) and A1plus (NG) Ratings to Dangote Cement - Global Credit Ratings has upgraded the long term Issuer rating of Dangote Cement to AAA (NG), and affirmed the short-term issuer rating of A1+(NG), with outlook accorded as Stable. Source Dangote Cement Plc Read More

Federal Inland Revenue Service Issues Notice of Compliance Monitoring Visits to RFIs - Following the filing of the first sets of information returns by Nigerian Reporting Financial Institutions (RFIs) in September 2020, the Federal Inland Revenue Service (FIRS) has issued notifications to selected Nigerian RFIs of its intention to carry out compliance monitoring exercise with respect to Nigerian RFIs... Source Deloitte Read More

Brazil Oil Production Increases - Despite a raging coronavirus pandemic, Brazil managed to produce an average of 2.94 million barrels of oil per day (Mb/d) in 2020. This was 5.5 percent higher than their 2019 output of 2.785 Mb/d, and surpassed that of OPEC's third-largest oil producer, the United Arab Emirates at 2.77 Mb/d. Source Suzanne Driscoll Read More 

 

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PROSHARE MARKETS

Investors Lose N116.14bn as NSEASI Dips by -0.57% Amid Negative Market Breadth - Equities market closed today on a negative note, as NSEASI depreciated by -0.57% to close at 39,045.13 basis points as against -0.57% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -3.04%. Source Proshare Markets Read More

UACN Declares N3.9bn PAT in 2020 Audited Results, Proposes 65K Final Dividend; (SP:N9.00k) - UAC of Nigeria Plc released its 2020 Audited results for the period ended December 31st, 2020. Revenue grew by 2.7% to N81m from N79m in the previous quarter. Profit before tax declined by 31% to N5bn. Source NSE Read More

BUACEMENT Declares N72bn PAT in 2020 Audited Results, Proposes N2.067K Final Dividend; (SP:N73.50K) - BUA Cement Plc released its 2020 Audited results for the period ended December 31st, 2020. Revenue grew by 19% to N209bn from N176bn in the previous quarter. Profit before tax grew by 19% to N79bn. Source NSE Read More

Stocks Edge up as Biden Spending Plan Boosts U.S. Outlook - Stocks crept higher on Thursday following their weakest quarter in a year, while higher Treasury yields supported the dollar, as investors parsed the details of a $2 trillion U.S. government spending plan and hoped for strong jobs data later in the week. Source Reuters Read More


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PROSHARE BUSINESS

NEXIM, Afreximbank Mobilise $50m Funding for SMEs - The Nigerian Export-Import Bank has announced its partnership with African Export-Import Bank to mobilise the sum of $50m to support Small and Medium Enterprises in Nigeria. Source Punch Read More

N4.7t Debt: AMCON Pays N2tr to CBN - The Asset Management Corporation of Nigeria (AMCON) has repaid N2 trillion out of its N4.7 trillion commitment to the Central Bank of Nigeria (CBN), its Managing Director/CEO Ahmed Kuru has said. Source The Nation Read More

'AfCFTA, WTO Treaties'll Affect Customs Revenue' - The Comptroller-General, Nigeria Customs Service (NCS), Col, Hamid Ibrahim Ali (rtd) has said the coming into effect of the African Continental Free Trade Agreement (AfCFTA) and the World Trade Organisation (WTO) free trade treaty may affect revenue collection of the service in the year. Source The Nation Read More

Analysis: Biden Infrastructure Plan Bets big on U.S. Return to Mass Transit After COVID-19 - U.S. President Joe Biden's sweeping $2.3 trillion plan to rebuild America's crumbling infrastructure proposes doubling federal funding for mass transit and spending $80 billion to expand and modernize passenger rail service. Source Reuters Read More

 

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PROSHARE TECHNOLOGY   

PayPal Launches Checkout with Crypto - PayPal Holdings, Inc. (NASDAQ: PYPL) today announced the launch of Checkout with Crypto, a new feature which significantly expands the utility of cryptocurrency. Available at millions of global online businesses and continuing to expand over the coming months, PayPal customers with cryptocurrency holdings in the U.S. will be able to choose to check out with crypto seamlessly within PayPal at checkout. Source PayPal Read More

 

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PROSHARE FINANCE

AXA Mansard Promotes SMEs in Nigeria; Launches Business Insurance Plan - In line with company's strategy of fostering the growth of Small and Medium Enterprises in the country, AXA Mansard Insurance PLC, a member of the AXA Group and global leader in insurance and asset management, wishes to announce the launch of its 'Business Insurance Plan'. Source AXA Mansard Read More

 

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