Nigeria in 1min: Economic, Business and Financial Headlines - 070420


Tuesday, April 7, 2020 / 06:35 AM / By News Aggregator / Header Image Credit: @dabiodunMFR

Proshare Nigeria Pvt. Ltd.

    COVID-19 Health Updates

    • On the 6th of April 2020, six (6) new confirmed cases of COVID-19 recorded in Nigeria
    • Till date, 238 cases have been confirmed, 35 cases have been discharged and five (5) deaths have been recorded in Nigeria
    • Of the 6 new cases reported on the 6th of April, two(2) are in Kwara, two(2) are in Edo, one(1) is in FCT and one (1) is in Rivers
    • All new cases have mild to moderate symptoms and are currently receiving care.
    • A multi-sectoral national emergency operations centre (EOC), activated at level 3, continues to coordinate the national response activities.Source NCDC Read More

    Proshare Nigeria Pvt. Ltd.

    Click Here To Read Latest News Updates



    High Debt Service, Low Revenue Collection - From the DMO's quarterly data release, we see that the FGN's domestic debt service totaled N254bn in Q4 2019, compared with the year-earlier figure of N223bn. This was the first increase on a y/y basis since Q3 2018, which we view in the context of the debt structure. Source FBNQuest Research Read More 

    Fitch Downgrades Nigeria to 'B'; Outlook Negative - The downgrade and Negative Outlook reflect the aggravation of ongoing pressures on Nigeria's external finances following the recent slump in oil prices and the pandemic shock. Source Fitch Ratings Read More 

    Nigerian Banks at Severe Risk from Oil Price Slump, Coronavirus - Nigerian banks' credit profiles face severe risks from the oil price slump and operating environment disruption due to the coronavirus pandemic, Fitch Ratings says. Asset quality deterioration linked to high exposures to the oil and gas sector is the biggest threat to ratings. Source Fitch Ratings Read More 

    Proshare Nigeria Pvt. Ltd.

    COVID-19: Federal Government of Nigeria Announces Fiscal Stimulus Measures - Nigeria's Minister of Finance, Budget and National Planning has announced fiscal stimulus and other interventions in response to Covid-19 pandemic and the oil price fiscal shock. Source PWC Nigeria Read More

    Nigeria's Total Public Debt Stood At N27.40trn in Q4 2019 - NBS - Nigerian States and Federal Debt Stock data as at 31st  December 2019 reflected that the country's total public debt portfolio stood at N27.40trn. Source NBS Read More

    Nigeria To Borrow $6.9bn From World Bank, IMF, AfDB - The Federal Government is to raise the sum of $6.9bn through external borrowing from the World Bank, the International Monetary Fund and the African Development Bank. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, disclosed this on Monday in Abuja during a media briefing on the fiscal policy measures to tackle the impact of the coronavirus pandemic on the economy. Source Punch Read More 

    CBN To Suspend Interest Payment On State Debts - The President, Major-General Muhammadu Buhari (retd.), has approved the suspension of the payment of interest on debts owed by state governments. Source Punch Read More 

    Pandemic: AU Report Predicts $65bn Revenue Loss for Nigeria, Angola - Sub-Saharan Africa's biggest oil producers, Nigeria and Angola, alone could lose $65 billion in income this year due to the impact of the COVID-19 pandemic, according an African Union (AU) study. Source Thisday Read More 

    FG Okays TSA Restructuring For Cash Mobilisation - The finance minister also said that the President had given an interim approval for the restructuring of the Treasury Single Account in order to better mobilise cash donations from the people and corporate bodies across the nation. Source Punch Read More

    Click Here to Read More News on Economy


     Proshare Nigeria Pvt. Ltd.


    NSE Notifies of Effective Date of Rules on Acquisition of a Dealing Member License - The Exchange has received the Securities and Exchange Commission's approval to the Rule Amendments. Source NSE Read More 


    Click Here to Read More News on Regulators

    Proshare Nigeria Pvt. Ltd.


    Identity Management in the Capital Mkt - SEC Releases Exposure of Investor's Data and Consent Form - As part of its efforts to address these challenges, the Commission has developed a standardized Investor's Data and Consent Form to be adopted by all CMOs in collecting and updating investors' data. Source SEC Release Read More 

    Markets Witness COVID-19 Induced Lull - AFEX Commodities Weekly Report 020420 - The AFEX Commodities Index composite closed at 161.65 points this week, maintaining its Price point from previous week. Market this week shows early effects of the ongoing lock down witnessed across the country as all commodity prices on the exchange remained neutral in the week under review. Source Kainosedge Consulting for AFEX Commodities Exchange Read More 

    Anchoria Fixed Income Monitor: Buoyant System Liquidity amid COVID-19 - The average money market rate fell significantly last week by 14.05% to settle at 2.40% from 16.45% in the previous week. The system liquidity experienced buoyancy due to the inflows from CRR refunds worth c.N310 billion to banks and OMO maturities - N288.54 billion. Source Anchoria AM Research Read More 

    Now Open - Dangote Cement Plc Bond Offer; April FGN Savings Bonds Cancelled - The bullish run in the Nigerian Treasury Bills ("NT-Bills") secondary market continued last week owing to improved trading activities across the mid and long end of the yield curve. The uptick in investors' sentiments was largely supported by robust system liquidity that stemmed from a CRR refund (c. N200.0bn) on Tuesday as well as inflows from maturing Open Market Operation ("OMO") bills (N288.6bn) on Thursday. Source Afrinvest Research Read More 

    NSE Lists March 2020 FGN Savings Bond Issue - The Federal Government (FGN) Savings Bond, March 2020 Issue were on Friday, 3 April 2020 listed on the Official Daily List of The Nigerian Stock Exchange. Source NSE Read More 

    Investors Lose N221.61bn as NSEASI Dips by -2.02% to Open the Week Negative - Equities market closed today on a negative note, as NSEASI depreciated by 2.02% to close at 20,669.38 points as against 0.13% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -23.00%. Source Proshare Markets Read More 

    FBNH Declares N73.7bn PAT in 2019 Audited Results, Proposes N0.38K Final Dividend;(SP:N4.00k) - FBN Holdings Plc, Banking company  in Financial Services  sector announced 0.8% Gross Earnings growth  in Q4'19 Results. Source NSE Read More

    Click Here to Read More News on Markets

     Proshare Nigeria Pvt. Ltd.



    Donations to CACOVID Relief Fund Now N21.5bn - Donations from individuals and corporate bodies in Nigeria to the Private Sector Coalition Against COVID-19 (CACOVID) Relief Fund domiciled at the Central Bank of Nigeria (CBN) have now surpassed the N21 Billion. Source CBN Read More

    CBN Alerts the Public on COVID-19 Cyber-attacks, Fraud - The Central Bank of Nigeria (CBN) wishes to alert the general public that cyber-criminals are taking advantage of the current "COVID-19" pandemic to defraud citizens, steal sensitive information, or gain unauthorized access to computers or mobile devices using various techniques. Source CBN Read More 

    EITI Foresees Extractive Projects' Delays, Cancellations Post COVID-19 -  The global Extractive Industries Transparency Initiatives (EITI) has warned that projects initiated in the extractive sectors of natural resource-rich and dependent countries before the outbreak of the COVID-19 may experience delays and outright cancellations when the pandemic ends. Source Thisday Read More 

    Federal Government Affirms Deregulation, Says No Resort To Fuel Subsidy - The Federal Government yesterday, affirmed its resolve to deregulate the downstream sector, stating that the country would no longer resort to subsidy or under-recovery if oil prices regain momentum. Source Guardian Read More 

    Trump Says OPEC Has Not Asked Him For A U.S. Oil Production Cut - President Donald Trump said on Monday that OPEC had not pressed him to ask U.S. oil producers to reduce their output to support global prices, which have been hard-hit by the economic fallout of the coronavirus pandemic. Source Reuters Read More

    Click Here To Read More News on Business


     Proshare Nigeria Pvt. Ltd.


    NAICOM Mulls Extension of Recapitalization Exercise - According to a publication by The Nation print media, there are indications that the National Insurance Commission (NAICOM) may extend the deadline for the recapitalisation of insurance and reinsurance companies for the second time. The publication cited that the Commission is concerned about the negative impact of COVID-19 pandemic on the exercise. Source CSL Research Read More


    Click Here to Read More News on Finance

    Proshare Nigeria Pvt. Ltd.


    Proshare Nigeria Pvt. Ltd.

    Click Here To Watch More Videos 

    Related News

    1. What To Expect From The Markets This Week- 060420

    2. Nigeria in 1min: Economic, Business and Financial Headlines - 060420

    Related News