Nigeria in 1min: Economic, Business and Financial Headlines - 080221

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Monday, February 08, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: @followlasg


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COVID-19 Health Updates 

  •  7th of February 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 139,748 cases (New: 506)
  • Discharged:  113,525
  • Deaths: : 1,667 (New: 20)
Source: NCDC Read More

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PROSHARE ECONOMY

Outlook 2021: Eyeballing Major Economic Indicators in 2020  Unemployment - Recent unemployment and underemployment data released by the National Bureau of Statistics (NBS) indicates that Nigeria's unemployment situation has worsened between Q3 2018 and Q2 2020. Source Proshare Research Read More

Outlook 2021: Eyeballing Major Economic Indicators in 2020 - GDP - Not many people fancy a bungee jump particularly policymakers already troubled by economic headwinds, but with Nigeria's recent GDP figures for Q3 2020 reversing from -6.10% in Q2 2020 to -3.62%, the mild drop in the aggregate value of goods produced in the country may have a pleasant side after all. Source Proshare Research Read More

Outlook 2021: Eyeballing Major Economic Indicators in 2020 - Capital Inflow - With the spread of the coronavirus in Nigeria not showing signs of slowing down soon, concerns over foreign and domestic supply chain disruptions, second wave lockdowns, and factory closures have led foreign investors to sit on the fence as they reassess Nigeria as a preferred frontier market (FM) and investment destination. Source Proshare Research Read More

Brent Crude Surges Towards $60 - OIR 050221 - Brent is closing in on $60 per barrel for the first time since January 2020. Crude inventories in both China and the U.S. declined this week, offering more evidence of a tightening market. Source Tom Kool of Oilprice Read More

Deloitte 2021 Economic Dialogue to Hold on February 11, 2021 - Deloitte is set to host its 2021 economic dialogue on Thursday, February 11th, 2021 from 09:00am, with the theme "Journey to Economic Recovery: Expectations for 2021". Source WebTV Read More 


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PROSHARE MARKETS

What To Expect From The Markets This Week - 080221 - The total value of capital importation into Nigeria stood at $1,069.68m in Q4 2020. This represents a decline of -26.81% compared to Q3 2020 and a decline of -71.87% compared to Q4 2019. Source Proshare Content Read More

NCM 2020: 84 Stocks Are Off 52-Week Highs as 85 Near 52-Week Lows - Analysis of the list of stocks that are Off 52-week highs and Near 52-Week Lows as of 31st December 2020 revealed that eighty-four (84) stocks were off 52-week highs and eighty-five (85) stocks are near 52-week lows. Source Proshare Research Read More

NCM 2020: Forty-one Financial Services Stocks Are Penny Stocks in 2020 - A total of 103 stocks are currently classified as penny stocks as of 31st December 2020 as against 113 in 2019. These are stocks trading below the share price of N5.00. Source Proshare Research Read More

NCM 2020: 23% of Listed Companies on NSE on Pause in 2020 - 37 or 23% of the 164 companies listed on the Nigerian Stock Exchange currently recorded no price movement as of December 31, 2020, as against 20% in 2019, 17% in 2018, and 37% of such stocks recorded in 2017. Source Proshare Proshare Research Read More


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PROSHARE BUSINESS

FG Targets N189.5bn From Marginal Oilfield Bid Round - The Federal Government is expecting to generate at least $500m in revenue (N189.5bn) from the ongoing marginal field bid round, the Department of Petroleum Resources has said. Source Punch Read More

Stalling U.S. Labor Market Bolsters Biden's Drive for Big Stimulus Package - U.S. employment growth rebounded moderately in January and job losses in the prior month were deeper than initially thought, strengthening the case for a sizable relief package from the government to aid the recovery from the COVID-19 pandemic. Source Reuters Read More

U.S. Treasury Secretary Yellen: Too Soon to Say If Changes Needed to Address Market Volatility - U.S. Treasury Secretary Janet Yellen said on Sunday that it is too soon to say whether new policies or regulations are needed to deal with recent market volatility. Source Reuters Read More

Big Oil Stocks Rally Despite Democrats' Fossil-Fuel Stance - U.S. oil and gas stocks, by far the worst performers last year, are standing out as the best in 2021 -- a turnaround that might seem a bit surprising given the new balance of power in Washington. Source Bloomberg Read More

 

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PROSHARE TECHNOLOGY   

CBN Tightens Noose on Cryptocurrency Market - On Friday, 05 February 2021, the Central Bank of Nigeria (CBN) through a circular reference number BSD/DIR/GEN/LAB/14/001 instructed financial institutions to immediately close the accounts of persons or entities transacting in or operating cryptocurrency exchanges noting that such activities were prohibited. The Central Bank also added that "breaches of this directive will attract severe regulatory sanctions." Source Proshare Research Read More

Data Visualization Training by Data Science Nigeria to Commence from February 27, 2021 - The Data Visualization training will provide a project-based hands-on approach to Mastering Microsoft PowerBI for turning numbers into inspiring stories and creating compelling Data dashboards for driving strategic data-driven decisions. To participate in this training, kindly register HERE http://bit.ly/DSNCourses Source Data Science Nigeria Read More

Central Banking and the Cryptocurrency Challenge - Call it like it is - First, a bit of history. A supposed Japanese named Satoshi Nakamoto started the first bitcoin  sometime in 2007. Indeed, nothing is known about whoever started the concept apart from what they claim to be. No pictures. Source Tope Fasua Read More


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CBN Responds to Reactions on Regulatory Directive on Cryptocurrencies - The attention of the Central Bank of Nigeria (CBN) has been drawn to various comments and reactions following our recent reminder to Deposit Money Banks (DMBs) to desist from transacting in / and with entities dealing in cryptocurrencies. Source CBN Read More

ICYMI: CBN Anti-Cryptocurrency Policy Threatens Jobs, Experts Warn - Following the Central Bank of Nigeria directive to banks and other financial institutions on Friday ordering the closure of all accounts operating cryptocurrency exchanges, some experts in cryptocurrency trading have raised the alarm over its economic impact. Source Punch Read More

Stakeholders Demand Six-month NIN-SIM Linkage Deadline Extension - Stakeholders in the telecom space have called for further extension of the National Identification Number and Subscriber Identity Module integration exercise by six months. Source Punch Read More

 

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