Nigeria in 1min: Economic, Business and Financial Headlines - 041220


Friday, December 4, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @followlasg


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COVID-19 Health Updates

  • 3rd of December 2020: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 68,303 cases (New: 343)
  • Discharged:  64,291
  • Deaths: : 1,179 (New: 2)

Source: NCDC Read More

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Implications of CBN's Introduction of Its Special Bills to the Market - Yesterday, the CBN through a circular to all banks introduced its "CBN Special Bills" to the financial system. Key features of the bill include a tenor of 90 days, zero coupons and a yield to be determined by the CBN at issuance. Source CBN Read More 

The Political Economy of Africa's Interior-To-Coast Roads - Africa's interior-to-coast roads are well placed to export natural resources, but not to support regional trade. Are they the optimal response to geography and comparative advantage, or the result of suboptimal political distortions? This column investigates the political determinants of road paving in West Africa in 1965-2014. Source VoxEU Read More

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The November 2020 Nigerian Capital Market Service Report - Proshare - Nigerian Equities Market closed the month of November 2020 in the green zone as market sustained the renewed bargain hunting witnessed during the previous month trading sessions. The NSEASI inched up by +14.78% as against +13.79% gain recorded in the month of October 2020 while the NASD USI closed northwards with +0.28% gain recorded at the end of the month under review as against -0.48% loss in October 2020. Source Read More

Investors Lose N45.93bn as NSEASI Dips Further by -0.25%, Closes Below 35,000bpts - Equities market closed today on a negative note, as NSEASI depreciated by -0.25% to close at 34,968.94 basis points as against -0.26% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +30.28%. Source Proshare Markets Read More


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SEPLAT Plc Refutes Being Party to Cardinal Drilling Services Loan with Access Bank - Over the week the Corporate Headquarters of Seplat Petroleum Development Company Plc (SEPLAT) at No. 16A Temple Road, Ikoyi, Lagos was sealed by policemen on Wednesday, December 2, 2020, ostensibly on behalf of a Receiver/Manager appointed by one of Nigeria's tier-1 lending institutions, Access Bank Nigeria Plc. Source Proshare Content Read More

AfCFTA Agreement: FG Highlights Action Plan - A This Day Newspaper report quoting the Executive Secretary/CEO of the Nigerian Shippers council (NSC), stated that the digitalisation of Nigerian ports, deployment of e-Customs, investment of over US$300 million in inland dry ports and the overhaul of transportation logistics... Source CSL Research Read More

The Mind Blowing Emgrand Sedan Model by Geely Soon to be In Nigeria - Mikano International Limited, exclusive partner of Geely Automotive in Nigeria, is bringing to you, along with GEELY 1st SUV model for the Nigerian market, GEELY 1st SEDAN model - the exquisitely prepared "Classic Redefined" Emgrand 7; to be recommended and presented to customers soon. Source Mikano International Read More

CBN Targeting $2bn Diaspora Remittances Monthly, Says Emefiele - The Governor of the Central Bank of Nigeria, Godwin Emefiele, on Thursday said the target of the CBN was for the country to attract about $2bn monthly as remittances from citizens in diaspora. Emefiele's position is coming after the apex bank introduced its new Diaspora Foreign Exchange Remittances Policy. Source Punch Read More

Proposed Medical Free Zone to Curb Capital Flight, Says NEPZA Boss - The Managing Director/Chief Executive, Nigeria Export Process (NEPZA), Prof. Adesoji Adesugba has said the proposed medical free zone project will revolutionalise the healthcare sector and put an end to medical tourism in the country. Source THISDAYLIVE Read More

NNPC: $21bn NLNG Funds Legally Withdrawn - The Nigeria National Petroleum Corporation (NNPC) has said that the withdrawal of over $21 billion from the Nigeria Liquefied Natural Gas (NLNG) dividends account is legal. Source THISDAYLIVE Read More

Nigeria Most Expensive for Upstream Projects - NNPC GMD - The Group Managing Director, Nigerian National Petroleum Corporation, NNPC, Mele Kyari, has disclosed that Nigeria remains one of the most expensive countries in the world for petroleum upstream projects. Source Vanguard Read More

U.S. Weekly Jobless Claims fall; Services Sector Activity Slows - The number of Americans filing first-time claims for jobless benefits fell last week, but remained extraordinarily high amid widespread business restrictions to slow a rising tide of new COVID-19 infections and lack of additional fiscal stimulus. Source Reuters Read More

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MTN Leads the Charge for Africa's Relevance in The Fourth Industrial Revolution (4IR) - It has been predicted that the Fourth Industrial Revolution (4IR) has the potential to raise global income levels and improve the quality of life for populations around the world. In a keynote session at the African Continental Free Trade Area (AfCFTA) Strategy Workshop held on Friday, November 20, 2020. Source MTN Read More 

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How to Be Sure That You Have Moved into The Safest PG in Vizag in This Pandemic - Safety and health come first and there can be no compromises on that front. The pandemic has highlighted the need for hygiene and health and it has become the topmost priority for people worldwide. While staying at home and braving the pandemic has been an option for many, study and work opportunities might call you to another city. Source Kritika Garg Read More 


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