Nigeria in 1min: Economic, Business and Financial Headlines - 011220

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Tuesday, December 1, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @FMoCDENigeria

 

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COVID-19 Health Updates

  • 30th of November 2020: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 67,557 cases (New: 145)
  • Discharged:  63,282
  • Deaths: : 1,173 (New: 0)

Source: NCDC Read More


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PROSHARE ECONOMY

GDP by Expenditure: Household Consumption Expenditure Contracts By -0.08% in Q2 2020 - NBS - In the first quarter of 2020, Nigeria's real GDP at basic prices grew by 1.87% but declined in the second quarter by -6.10% on a year on year basis. This brought the real GDP growth rate for the first half of 2020 to -2.18% year on  year. Compared to 2019. Source NBS Read More

CBN Provides Clarifications on the Operations of Export Proceeds and Ordinary Domiciliary Accounts - Following different interpretations on the operationalization of Domiciliary Accounts and to ensure the stability of the foreign exchange market, The Central Bank of Nigeria (CBN) would like to provide the following clarifications. Source CBN Read More

DCSL to hold its 13th Webinar Series Focused on the Year 2020 Business Review - The Covid-19 pandemic was unprecedented and unexpected. Many businesses are yet to fully recover from its attendant adverse effect. The Pandemic has affected businesses in different ways with many businesses having to shut down while others recorded unprecedented losses. Source DCSL Read More

 

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PROSHARE MARKETS

ALERT: 1.97% of MULTIVERSE's Outstanding Shares Traded on NSE Today - At the close of trading today, a total volume of 84.01mln units of shares of Multiverse Mining and Exploration Plc valued at N5.94bn were traded. Source Proshare Research Read More

Investors Gain N81.84bn as NSEASI Inches Up by 0.45% to Open the Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by +0.45% to close at 35,042.14 basis points as against +0.24% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +30.55%. Source Proshare Markets Read More

NSE Migrates Four Companies from ASeM to Growth Board - The Nigerian Stock Exchange ("NSE" or "The Exchange") is pleased to announce the migration of Chellarams Plc, Living Trust Mortgage Plc, McNichols Plc, and The Initiates Plc from the Alternative Securities Market (ASeM) to the Growth Board and the launch the associated Growth Board Index on Monday, 30 November 2020. Source NSE Read More

 

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PROSHARE BUSINESS

FG Granted N341.94bn Waivers in Three Years - Minister - The Federal Government said on Monday that it granted import duty waiver worth N341.94bn from August 2017 to August 2019. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, disclosed this at a one-day sensitisation seminar on the Automated Import Duty Exemption Certificate at the Nigeria Customs Training College, Kano. Source Punch Read More

NERC to Review Discos' Capital Expenses, Tariff - The Nigerian Electricity Regulatory Commission (NERC) will this month review the capital expenditure of the 11 respective electricity distribution companies (Discos) in the country's power sector. Source THISDAYLIVE Read More

Oil Falls as OPEC+ Talks Delays Raise Supply Concerns - Oil prices slipped on Tuesday amid concerns over mounting supply after leading producers delayed talks on 2021 output policy that could extend production cuts as the coronavirus pandemic continues to sap fuel demand. Source Reuters Read More

 

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PROSHARE TECHNOLOGY   

Firstbank Launches Next-Generation ATM, Spearheads Innovation in Electronic Banking in Nigeria - In the light of COVID-19, FirstBank has launched the FastTrack ATM, a Next Generation ATM and first of its kind in Africa, designed to promote financial activities on the ATM devoid of any form of physical interaction with the machine. Source FirstBank Read More 

 

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PROSHARE FINANCE

Airlines Hike Fares on Operational Challenges and FX Scarcity - According to local print media source, Punch, the cost of air tickets along major routes across the country have more than doubled based on recent survey carried out by the media outlet. Source CSL Research Read More 

 

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PROSHARE MSME

748,684 Conditional Transfer Beneficiaries Got N14.973bn - FG - The Federal Government on Monday said 748,684 beneficiaries were paid N20,000 each for two months under the Conditional Cash Transfer programme during the COVID-19 lockdown period. Going by the above, the Federal Government paid the beneficiaries a total of N14.973bn within the two months period. Source Punch Read More

 

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