Nigeria in 1min: Economic, Business and Financial Headlines - 030821


Tuesday, August 3, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Facebook; The Lagos State Government

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COVID-19 Health Updates

  • 2nd of August 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 174,759 cases (New: 444)
  • Discharged: 165,037
  • Deaths: : 2,160 (New: 11)

Source: NCDC Read More

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Senate Alleges Irregularities in FG's N1.1tn Investments in UK Firm, Others - The Senate says it has uncovered irregularities in the Federal Government's investments in Crown Agents Bank and some other financial institutions amounting to N1.1tn. Source Punch Read More

Rising COVID-19 Cases: NESG, LCCI Fear Fresh Lockdown, FG Plans Tough Actions Against Third Wave - Some stakeholders in the economic sector on Monday strongly advised Nigerians to adhere strictly to COVID-19 safety protocols to reduce the rising coronavirus cases in the country. Source Punch Read More

Federal Govt Executing 895 Road, Bridge Contracts, Says Fashola - Minister of Works and Housing, Babatunde Fashola, said the federal government is currently undertaking 895 road and bridge contracts as well as fixing internal roads in 43 tertiary institutions in the country. Source LeadershipNG Read More

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SEC Inaugurates Securities Issuers Forum - The Securities and Exchange Commission (SEC) in collaboration with the Nigeria Employers' Consultative Association (NECA) is set to inaugurate the Securities Issuers Forum (SIF) through an online webinar. Source by SEC Nigeria Read More


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Investors Gain N30.03bn as NSEASI Inches Up by 0.15% to Open the Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by +0.15% to close at 38,604.72 basis points as against +0.16% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -4.14%. Source by Proshare MARKETS Read More

Bullish Run Sustained as Average Yield Falls 100bps WoW - The Nigerian Treasury Bills ("NT-Bills") secondary market maintained a bullish run last week on the back of improved system liquidity (N198.9bn long on Friday, 30-Jul-21) and as unsuccessful PMA bids filtered in. Source by Afrinvest Research Read More

Nigeria's Exchange Rate Management Should Be Free From Political Interference - Nigeria's exchange rate management should be executed without political interference and pressure, because it is part of the core mandate of the Central Bank (CBN). Professor Akpan Ekpo an economist and public policy analyst made this point while providing his perspectives on  Nigeria's foreign exchange management and economic stability. Source by Ottoabasi Abasiekong for WebTV Read More

Naira Depreciated by -2.40% WoW in the Parallel Market at an Average Exchange Rate of N512 - In the FX Spot, Forwards and Futures markets, the total turnover for the week-ended July 30, 2021, was $902.45 million, representing an increase of 98.43% ($447.66 million) from $454.79 million reported for the week-ended July 23, 2021. Source by FMDQ Read More

Why Trading Financial Markets is the New Nigerian Dream - EGMarkets which is the first brokerage of its kind in the country is scheduled to spread its wings and expand to other African countries in the second half of the year which will provide access to the markets for EGMarkets participants in these countries. Source by Eagles Global Market Read More


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CEO Remuneration 2021 Report: Breaking into New Ideas and Fresh Realities - As markets and economies gradually emerge from the ruins of the pandemic, it does appear that only very few businesses have figured out the workings of the next normal, yet those corporations which would make the most of the newly found chest of treasure- the enormous powers of collaborative thinking and actions- would hold the ace in a new world. Source Proshare Research Read More

Zenith Bank GMD, Onyeagwu Canvasses Increased Impact Investing in Africa - The Group Managing Director/Chief Executive of Zenith Bank, Mr. Ebenezer Onyeagwu, has called for increased impact investing in Africa for the continent to attain its full potential. Source by Zenith Bank Read More

Ecobank Nigeria Relaunch Credit Card Variants - Ecobank Nigeria has announced the relaunch of its Credit Card products with a wide range of benefits to customers including access to International Point of Sale (POS) and Automated Teller Machines (ATM). Source by Ecobank Read More

NNPC Plans Policy Guidelines for Divesting IOC Partners - The Nigerian National Petroleum Corporation has said it would outline policies to guide partners (International Oil Companies) of the corporation who wish to divest from joint ventures or the Nigerian oil and gas industry. Source Punch Read More

CBN to Monitor Banks' Foreign Exchange Sale - The Central Bank of Nigeria's (CBN's) has assured the public that it will monitor commercial banks to ensure they meet the legitimate Foreign Exchange (FX) customers' demands. This is coming after the apex's directive to Deposit Money Banks (DMBs) to sell foreign exchange to customers, for invisibles such as Basic Travelling Allowance (BTA), medical and tuition etc. Source The Nation Read More

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There are Many Misconceptions on Islamic Inheritance Law - Mufti Faraz Adam - A Will is a document that details how assets and property should be distributed. Wills from an Islamic perspective must align with Shariah's rules and principles. Anyone should plan the arrangement of their after-life affairs. Source by Bukola Akinyele-Yisau for WebTV Read More

The Fundamentals of Factor Investing: An Application to Fixed Income - The concept of investing broadly covers the purchase or creation of assets with the use of funds or capital in order to obtain a return on the investment, also known as capital gain. Source by Coronation Merchant Bank Read More


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5 Tips to Set Up Reliable Systems for your Small Business - One of the common reasons small businesses fail is the inadequate management of their people, processes and other activities required to achieve the vision of the organization. The effective interplay between these factors is what determines the strength of a business. Source by FCMB Business Zone Read More

Can you get more from your Savings? Saving in a bank is good but saving towards a goal and still earning more interest than what you would have gotten from the usual savings account is better. With i-Nest by FCMB, you can save towards multiple goals, track your savings goal until completion and earn up to 7% per annum. You could also qualify for some of payback promos and earn double your savings. 

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