Nigeria in 1min: Economic, Business and Financial Headlines - 010621

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Tuesday, June 1, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: VFDGroup


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COVID-19 Health Updates

  • 31st of May 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 166,518  cases (New: 203)
  • Discharged: 158,781
  • Deaths: : 2099 (New: 28)

Source: NCDC Read More


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PROSHARE ECONOMY

Inflationary Pressure Still Stretching Wallets - The latest inflation report released by the National Bureau of Statistics (NBS) shows that in April the headline inflation eased after nineteen successive months of increase. The decline was marginal. Source FBNQuest Research Read More

CBN Issues Regulatory Framework for Non-Bank Merchant Acquiring in Nigeria - The Central Bank of Nigeria, in furtherance of its mandate to promote a sound financial system and facilitate the development of electronic payment systems in Nigeria, hereby issues the Regulatory Framework for Non-Bank Acquiring in Nigeria. Source CBN Read More

Edo State Issues PIT (Infrastructure Development and Social Investment Tax Credit Scheme) Order 2021 - The Edo State Governor has signed the Infrastructure Development and Social Investment Tax Credit Scheme Order 2021 ("the Order"). The Order, which was signed on 11 May 2021, introduces the Infrastructure Development and Social Investment Tax Credit Scheme ("the Scheme"). Source Deloitte Read More 

Senate Probes NNPC's Alleged Failure to Remit 10-Year Stamp Duty - The Senate has launched a large-scale probe into the alleged non-remittance of the one per cent stamp duty on contracts awarded by the Nigerian National Petroleum Corporation from 2010 to 2020. Source Punch Read More

DMO to Focus on Funding Revenue-Generating Projects - The Director General of the Debt Management Office (DMO), Ms. Patience Oniha, has said the agency is looking at supporting projects that are revenue generating to service funds raised via Sukuk. Source THISDAYLIVE Read More

FIRS, NNPC others paid N1.5tr into Federation Account in Q1 of 2021- RMAFC - The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has disclosed that the revenue-generating agencies in the country made a total remittance of N1, 538,021,801,518.37 into the Federation Account in the first quarter of 2021. Source The Nation Read More


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PROSHARE MARKETS

Investors Gain N94.29bn as NSEASI Inches Up by 0.47% to Open the Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by +0.47% to close at 38,437.88 basis points as against +0.56% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -4.55%. Source Proshare Markets Read More

Fidson Healthcare Plc Quotes First Series from Its CP Programme on FMDQ Exchange - FMDQ Securities Exchange Limited ("FMDQ Exchange" or "the Exchange"), the choice platform for the registration, listing, quotation and trading of securities in Nigeria, has through its Board Listings and Markets Committee, approved the quotation of the Fidson Healthcare PLC N4.50 billion Series 1 Commercial Paper ("CP") under its N10.00 billion Commercial Paper Issuance Programme on its platform. Source FMDQ Read More

NT-Bills Secondary Market Turned Bearish as Average Yield Improved 34bps WoW to Close at 6.10% - In the past week, the Nigerian Treasury Bills ("NT-Bills") secondary market closed on a bearish note as investors sold off to position in the Primary Market Auction ("PMA") that took place on Wednesday, 26-May-21 to seek higher yields. Source Afrinvest Research Read More

Nigeria's Foreign Exchange Policy: Navigating Through the Tides of Uncertainty - The recent action by the Central Bank to unify the exchange rate is a positive move for the economy. This was a recommendation in our Macroeconomic Review for 2021 Q1. Source FSDH Research Read More

 

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SEC Issues a Cease-and-Desist Order On Crowdyvest Halal Fund, Puts General Public on Notice - The attention of the Commission was drawn to the proposed launch of a Crowdyvest Halal Fund by Crowdyvest an unregistered entity purporting to operate as a corporative society. Source SEC Nigeria Read More

NNPC to Acquire Equity in 6 Private Refineries - Official - The Nigerian National Petroleum Corporation (NNPC) says it is currently considering equity participation in a number of private refineries in the country. Source Vanguard Read More

FG Opens Bid for Concession of 12 Roads - The Federal Ministry of Works and Housing will officially open the bid for Value Added Concession for federal roads under the Highway Development and Management Initiative on Tuesday, June 1, 2021. Source Punch Read More

NNPC Pledges Crude Supply to 20,000bpd Lagos Refinery - The Nigerian National Petroleum Corporation has committed to supply crude oil to a refinery project on Tomaro Island in Lagos, with a capacity of 20,000 barrels per day. Integrated Oil & Gas Limited, the promoters of the Eko Petrochem and Refining Company, disclosed this on Saturday, saying it had spent over $20m on the project. Source Punch Read More

 

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PROSHARE TECHNOLOGY

Ecobank Rewards Xpress Point Agents, As Locations Hit 30,000 Nationwide - The Head, Agency Banking, Ecobank Nigeria, Olanike Kolawole has said there are many inherent rewards and benefits of being an agency banking partner, also known as Xpress Point agent of the bank. Source Ecobank Read More

7 Things to Deliberate on Before Fitting a Light Switch - Homeowners enjoy various benefits including enhanced control plus remote access, minimized energy losses, home automation and so much more benefits, from the installation of smart light switches. Source Usama Ali Read More

 

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PROSHARE MSME

250,000 Businesses to Benefit from New Economic Recovery Programme - Arifu and Praekelt.org, supported by Google.org (Google) philanthropy platform, have launched a suite of free interactive training and information to help small businesses and micro-enterprises impacted by the COVID-19 navigate the challenges, stay up to date on regulatory changes and access products as well as services that will support their recovery. Source Guardian Nigeria Read More 


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