Nigeria in 1min: Economic, Business and Financial Headlines - 020821

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Monday, August 2, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Ecographics


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COVID-19 Health Updates

  • 1st of August 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 174,315 cases (New: 407)
  • Discharged: 165,005
  • Deaths: : 2,149 (New: 8)

Source: NCDC Read More


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PROSHARE ECONOMY

Oil Bulls Remain Confident Despite COVID Concerns - OIR 300721 - Crude prices drew hefty support this week from U.S. inventory dynamics, with commercial stocks falling to their lowest since January 2020 and indications that the tightening is set to continue. Source Tom Kool of Oil Price Read More

IMF's Borrowing to Nigeria, Other Low-Income Countries to Hit $48bn - The International Monetary Fund (IMF) has projected that its financial assistance to low-income countries, most of which are in Africa, could hit $48 billion covering the current COVID-19 pandemic and its immediate aftermath. Source THISDAYLIVE Read More

 

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PROSHARE MARKETS

What To Expect From The Markets This Week - 020821 - The Federal Government disclosed earlier in the week that the revised National Integrated Investment Masterplan (2020-2043)- a 23-year framework is meant to guide interventions, investments, and budgetary allocation to critical infrastructures such as roads, railway networks, and the maritime sector. Source Proshare Content Read More

Investors Mull Over a Choppy H1 2021 NASD Performance - Investors in the last few months have shown sobriety over the performance of Nigeria's over the counter (OTC) market. The NASD's performance in both the first quarter (Q1) and second quarter (Q2) of the year has been like the walk of a drunken sailor. Source Bukunmi Adejobi, Proshare Research Read More

BDC Market Implodes as the CBN Stops Sale of Dollars to the Parallel Market - Nigeria's Bureau de Change (BDC) market went into a tailspin at the beginning of the week as traders buckled under the Central Bank of Nigeria's decision to discontinue the sale of weekly foreign exchange (FX) to the market. Source by TheAnalyst, Proshare Research Read More

CBN to Refund Minimum Capital Deposits and Licensing Fees to BDC Promoters - The Central Bank of Nigeria (CBN) has released a circular stating that it will start an immediate refund of capital deposit to Bureaux de Change (BDC) promoters with pending applications. Source Proshare Research Read More

Market Pulse: An Historical Nostalgia - Reliving the Clampdown on BDC Operators - Monetary Policy Committee (MPC) meetings in the first half of the year ended with non-dramatic and highly predictable conclusions, as policymakers wrestled with an economic reality characterized by higher prices and tepid growth. Source Afolabi Ogunlayi, Comercio Partners Limited Read More 

 

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PROSHARE BUSINESS

CEO Remuneration 2021 Report: From COVID to Collaboration - With COVID-19 still bearing down on several global economies the whole concepts of work, purpose, collaboration, and CEO remuneration are taking on new dimensions requiring fresh insights, new strategies, and critical rethinking. Source Proshare Research Read More

FHC Abuja Issues Interim Order Restraining AMCON from Taking Over NICON Insurance, Nigeria Re - A Federal High Court sitting in Abuja has issued an interim order restraining the Asset Management Corporation of Nigeria (AMCON) from taking over the board and management of NICON Insurance Limited and Nigeria Reinsurance Corporation (Nigeria Re). Source Proshare Research Read More

Fidelity Bank Doles Out N39m to 15 Lucky Customers - In yet another show of its commitment to reward loyal customers for maintaining a savings habit, leading financial institution, Fidelity Bank PLC has presented cash gifts worth N39million to lucky customers at the closing ceremony of the Fidelity Bank's Get Alert in Millions (GAIM) Promo. Source Fidelity Bank Read More

FG Reduces Price of Gas for Power to $2.18 - The Federal Government said on Thursday that it had agreed to reduce the price of industry power gas from $2.50 to $2.18 following extensive negotiation between the government and the organised labour. Source Punch Read More

Refineries Suffer 13-Month Loss of N104.3bn, Refine Zero Oil - A total loss of N104.3bn was recorded by Nigeria's refineries in 13 months, even as the facilities refined no crude oil throughout the period, the latest report released by the Nigerian National Petroleum Corporation showed. Source Punch Read More

Trailer Parks Get August 12 Deadline to Fully Automate - As part of efforts to decongest access to Apapa ports, the Nigerian Ports Authority (NPA) has given authorised trailer parks an August 12, 2021 deadline to meet all its requirements for full automation or lose their listing. Source THISDAYLIVE Read More 

 

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PROSHARE TECHNOLOGY   

DLM Capital Group Announces Winner For its 2021 Pegasus Fintech Challenge - Leading Developmental Investment institution, DLM Capital Group through its digital banking subsidiary "SOFRI" has announced EazyChange as the winner of the first edition of its Fintech pitch competition tagged- Pegasus Fintech Challenge. Source DLM Capital Group Read More

HP Wolf Pro Security: Simplified Security Management for your Organization - Protect your PC from the malware that lurks on malicious websites or hides in shared files. HP Wolf Pro Security Edition comprises three layers of security protection; it provides threat containment, malware prevention, and identity protection in a single, easy-to-use configuration. Source Sponsored Post by HP Inc. Read More

NCC Urges PPP Model to Bridge Digital Infrastructure Gap - The Nigerian Communications Commission (NCC) has recommended Public-Private Partnership (PPP) model as a way to bridge the yawning digital infrastructure gap in the country. Source The Nation Read More

Fintech H1 2021 Review - Recent Regulatory and Legal Developments in Nigeria - 2021 has been an active year for the Nigerian FinTech Industry as people appear to be embracing technology solutions following the Covid-19 lockdown. There have also been significant regulatory and legal developments in the FinTech Industry. Source AELEX Read More


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PROSHARE FINANCE

Young Or Old: Put A Plan in Place for Your Loved Ones Today - FBNQuest - In our fast-paced world, the average person is consumed with how to improve and sustain their quality of life. Little attention is paid to what happens when they become incapacitated or pass away. Source FBNQuest Read More

ASR Africa Adopts Gwarimpa General Hospital Neonatal Unit - The Abdul Samad Rabiu Africa Initiative (ASR Africa) has today, donated multimillion Naira state-of-art equipment and a fully equipped emergency ambulance to the Paediatric Unit of the Gwarimpa General Hospital, Abuja as part of its Health Systems Support Initiative. Source ASR Africa Read More

Sukuk: Nigeria Needs Standardization and Improved Regulation - Despite three successful Sukuk Issues, there is a need for standardization and a stronger regulatory framework for Nigeria's Non-Interest capital market debt Issues. This would enable the growth of the Sukuk fixed income market and improve its local scale. Source Bukola Akinyele-Yisau for WebTV Read More

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PROSHARE MSME

FCMB Empowers Agribusiness, Healthcare and Others With AfDB's $50m Credit - Women empowered businesses and local enterprises involved in agribusiness, manufacturing, health care, and renewable energy will have access to long term funding from First City Monument Bank (FCMB), courtesy of a $50m credit facility from the African Development Bank (AfDB). Source FCMB Read More

SON Seeks Collaboration with States to Empower MSMEs - The Standards Organisation of Nigeria has announced plans to partner with states governments across the federation for the growth of micro, small and medium enterprises in the country. Source Punch Read More 

 

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