Nigeria in 1min: Economic, Business and Financial Headlines - 061221

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Monday, December 06, 2021 / 5:32 AM / By News Aggregator / Header Image Credit: Nigerian-British Chamber of Commerce

 

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  COVID-19 Health Updates

  • 5th of December 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 214,622 cases (New: 55)
  • Discharged: 207,450
  • Deaths: 2,980 (New: 2)

Source: NCDC Read More

 

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PROSHARE ECONOMY

Moody's Affirms Deposit Ratings of 9 Nigerian Banks; Changes Outlook to Stable - The rating action reflects Moody's expectation that higher oil prices and some measures taken by the government will help stabilise the sovereign's credit metrics, thus stabilising the sovereign credit profile and, in turn, those of the banks. Source Moody's Investors Service Read More

OPECplus Succeeds in Calming Oil Markets After a Crazy Week - OIR 031221 - The most anticipated event of the week - a decision from OPEC+ on whether or not it would halt its monthly 400,000 b/d oil production increase - ended up being a bit of a non-event as the countries agreed to stick with the original plan but maintained the option to reverse that decision if necessary. Source Micheal Kern of Oilprice Read More

OPECplus Sticks to Output Plan, in the Face of Omicron - OPEC and its allies kept to their current output expansion plan, despite demand concerns following the emergence of the new Covid-19 variant (Omicron). The current plan involves ramping up output by 400,000bpd each month from August through 2022... Source FDC Read More

Direct Remittances Drops by 62.4% to $1.96bn in 10 Months - Latest data by Central Bank of Nigeria (CBN) has revealed that total direct remittances from Nigerians in Diaspora dropped by 62,4 per cent to $1.96 billion in 10 months of 2021 from $5.21billion it recorded in prior year's 10 months. Source THISDAYLIVE Read More

FG: Lagos-Badagry expressway to get N15bn from NNPC tax credit fund - The federal government says the Agbara-Seme border section of the Lagos-Badagry expressway project will receive N15 billion of the NNPC tax credit fund. Source TheCable Read More


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PROSHARE MARKETS

What To Expect From The Markets This Week - 061221 - At the plenary on Thursday, the House of Representatives mandated its committees on anti-corruption and public service to probe projects and budget duplication by MDAs. Source Proshare Content Read More

The November 2021 Nigerian Capital Market Service Report - Proshare - The NSEASI inched up by +2.88% as against +4.52% gain recorded in the month of October 2021 while the NASD USI closed northwards with +0.07% gain recorded at the end of the month under review as against +1.49% gain in October 2021. Source Research@proshareng.com Read More

LCFE Partners Heritage Bank in Financing Wheat Production - The Lagos Commodities and Futures Exchange (LCFE) has commenced a partnership with Heritage Bank Plc to create a structure for trading in wheat contracts and its allied products, following the ongoing intervention of the Central Bank of Nigeria (CBN) to position the country as a net exporter of wheat. Source LCFE Read More

 

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PROSHARE BUSINESS

2021 Africa Green Awards calls for Collaboration to Achieve Sustainable Environment - Youths in Africa have been urged to collaborate to chart a pathway for a sustainable environment on the continent. The Ambassador of Sweden to Nigeria, Ghana, Cameroon and ECOWAS, H.E, Carl-Michael Grans, made this point as a guest speaker at the 2021 edition of the "Africa Green Awards", which focused on the theme "Spotlighting The ECO-Heroes". Source Ottoabasi Abasiekong for WebTV Read More

Foreign Direct Investment in Africa Falls 50% - EY report - Foreign direct investment inflow in Africa dropped by 50 per cent in 2020 as the continent recorded its worse economic recessions in 50 years, EY said in a new report. Source Punch Read More


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PROSHARE TECHNOLOGY   

Fintechs Compound Corporate Governance, Risk Management Challenges, Says NDIC - The Nigeria Deposit Insurance Corporation (NDIC) has said the emergence of financial technologies (fintech) has brought new challenges bordering on corporate governance and risk management. Source Guardian Nigeria Read More 

 

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PROSHARE FINANCE

More Awareness Needed for Non-Interest Financial Instruments in AfCFTA - Anatogu - There is a need for more awareness of how non-interest-bearing financial assets can support the African Continental Free Trade Agreement (AfCFTA). Source Bukola Akinyele-Yisau for WebTV Read More

Stakeholders Task NIFIAN to Deepen Financial Inclusion in Nigeria - The Non-Interest Financial Institution of Nigeria (NIFIAN) recently hosted its 3rd webinar with the theme "Transformational Development through Non-Interest Finance". Source Bukola Akinyele-Yisau for WebTV Read More

AIO Seeks Insurance Sector's Integration into AfCFTA - The President of African Insurance Organization, Mr Tope Smart, has said the organisation is examining how the insurance sector can best integrate into the African Continental Free Trade Area. Source Punch Read More


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