Nigeria in 1min: Economic, Business and Financial Headlines - 060921

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Monday, September 6, 2021 / 6:44 AM / By News Aggregator / Header Image Credit: WebTV


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COVID-19 Health Updates

  • 5th of September 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 195,511 cases (New: 459)
  • Discharged: 184,529
  • Deaths: 2,552 (New: 64)

Source: NCDC Read More


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PROSHARE BUSINESS

NIPC and the Challenge of Public Service - The Yewande Sadiku Metaphor - Yewande Sadiku is not your typical professional. She tumbled right out of her industrial chemistry class at the University of Benin into a job with then Nigeria International Bank (now Citibank Nigeria). Source Proshare Research Read More

Unity Bank Unveils USSD Channel to Combat E-Banking Fraud - Unity Bank Plc has unveiled a new channel that will allow customers to block their bank accounts using a USSD code. By dialling the code *7799*phone#, a customer will be able to block his account number using any mobile device if fraud is suspected, a debit card is lost or incidences of unauthorized transactions are reported. Source Unity Bank Read More 

Osinbajo: Africa's Cross-Border Trade Worth $93b - The Vice President, Professor Yemi Osinbajo, has estimated the value of informal trade in the African Continent to be in the region $93 billion yearly. Source The Nation Read More

Concerns as Abandoned Containers Litter Nigerian Ports - The increasing rate of abandoned cargoes currently causing congestion at the seaports has triggered concerns among the stakeholders. The Nigerian Ports Authority (NPA) and the Nigeria Customs Service (NCS) have immediately swung into action to decongest the ports. Source The Guardian Nigeria Read More

CITN Charges Govt on Accountability, Transparency - The Chartered Institute of Taxation of Nigeria, CITN has urged government to make itself accountable to Nigerians with regards to tax administration and utilisation of tax income. Source THISDAYLIVE Read More

Nigerian Govt Outlines Firms for Sale, Concession - (FULL LIST) - The Nigerian government hopes to sell or temporarily hand over control of dozens of state-owned businesses in a bid to resuscitate them in 2021 and beyond. An investors' guide by the Bureau of Public Enterprises (BPE) invites potential investors to take advantage of the opportunities available and incentives offered by the government and buy into those businesses. Source Premium Times Read More


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PROSHARE REGULATORS

Senate Raises Alarm as SEC Declares N9bn Deficit in Three Years - ThisDay is reporting that the Senate has raised the alarm over the reported insolvency of Securities and Exchange Commission (SEC) as the capital market regulator declared deficit of N9 billion in three years. Source Deji Elumoye of ThisDay Newspaper Read More

The Requirements for Dealing in Foreign Securities in Nigeria and the Role of the Regulators - The Nigerian FinTech Industry has been booming with focus on payment services, wealth management and investment technology companies (investment tech[1]). An area of the industry that has gained attention recently is investment tech... Source Olubusola Oyeyosola of AELEX Read More

 

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PROSHARE MARKETS

What To Expect from The Markets This Week - 060921 - The Nigerian Senate disclosed its resolve to drastically reduce the N5.6tn borrowing planned by the Federal Government in 2022. Source Proshare Content Read More

Nigeria-China Currency Swap: Still Waiting for a Deal - The N720bn swap deal for at least 15bn Yuan (Renminbi) between Nigeria and China has failed to achieve its purpose three years after the agreement was launched. An equivalent of US$2.4bn in June 2018 using the official rates for the conversion. Source Adaeze NWACHUKWU of Proshare Research Read More

MRS Oil Nigeria Plc H1 2021 Results: Bottomline Earnings Skyrocket as Sales Rise - MRS Oil Nigeria Plc (NGX: MRS) released its unaudited half-year (H1) financial statement. According to the report, the company's revenue increased by +53.19% Y-o-Y to N36.75bn in H1 2021. Source Tosin Ige, Proshare Research Read More

 

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PROSHARE ECONOMY

CBN Directs Banks to Publish Details of Defaulters of the CBN Policy on Sale of Forex for PTA and BTA - The CBN has received and noted with concern reports of sharp practices by some unscrupulous customers to circumvent the new CBN policy on the sale of forex for overseas personal and business travel. Source CBN Read More

The Petroleum Industry Act - Redefining the Nigerian Oil and Gas Landscape - Nigeria is home to about 206 million people (Worldometers, 2020) and is Africa's largest market, with a young, growing and vibrant population. The population is forecast to grow by an average of 2.6% per annum (World Bank, 2020). Source PwC Read More

Fitch Ratings Increases Gas Price Assumptions for 2021 and 2022 - Fitch Ratings has increased its natural gas price assumptions for 2021 and 2022 due to strong year-to-date prices, recovering demand and supply challenges. Source Fitch Ratings Read More

Oil Remains Elevated After Hurricane Ida Hurts Supply - OIR 030921 - An improving demand picture and a slower-than-anticipated supply recovery after Hurricane Ida damaged offshore platforms and flooded refineries have kept oil prices elevated this week. Source Tom Kool of Oilprice Read More

OPEC+ Raises Forecast for Oil Demands Next Year - The Organisation of the Petroleum Exporting Countries and allies, including Russia, collectively known as OPEC+, has raised its forecast for oil demand next year, in a move that might help to build a case for raising output. Source Punch Read More

Include Revenue Sources in Budget Proposals, FG tells MDAs - The Federal Government has directed all Ministries, Departments and Agencies of government to include revenue sources, and not just expenditures, in their 2022 budget submissions. Source Punch Read More


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PROSHARE TECHNOLOGY   

Crypto vs Forex Trading: Everything You Should Know Before Your First Trade - If you are planning to get started with trading and want to explore markets like Crypto and Forex. Then you must be wondering what the difference or similarities between these two are. Sponsored Post by Money Mongers Read More 

 

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PROSHARE FINANCE

Ijarah and Economic Opportunities for Nigeria - Ijarah is considered a critical vehicle for achieving economic empowerment and infrastructural development in Nigeria. The Managing Director of One 17 Capital Limited, Mr. Attahiru Maccido, made this point while speaking on "Ijarah and its Economic Benefits to Nigerians". Source Bukola Akinyele-Yisau for WebTV Read More

How to Build an Investment Portfolio - Every investor who desires to build and grow wealth should have an investment portfolio. Wealth creation efforts are less likely to succeed if they are approached haphazardly, so building an investment portfolio is a great way to add the necessary strategy and intention to these efforts. Source FBNQuest Read More 


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