Nigeria in 1min: Economic, Business and Financial Headlines - 081220

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Tuesday, December 8, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @dabiodunMFR


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COVID-19 Health Updates

  • 7th of December 2020: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 69,645 cases (New: 390)
  • Discharged:  64,947
  • Deaths: : 1,181 (New: 1)

Source: NCDC Read More


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PROSHARE ECONOMY

Trade Grew in Q3 2020 Due to Faster Increase in Imports But Slower Recovery in Exports - Total trade grew by 34.15% in Q3, 2020 compared to Q2, 2020 but declined 8.85% compared to Q3 2019. Total imports rose by 33.77% in Q3, 2020 compared to Q2,2020 and 38.02% compared to Q3, 2019. Source NBS Read More

 

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PROSHARE MARKETS

Investors Lose N38.48bn as NSEASI Dips by -0.21% to Open the Week Negative - Equities market closed today on a negative note, as NSEASI depreciated by -0.21% to close at 35,064.36 basis points as against +0.48% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +30.63%. Source Proshare Markets Read More

ETI 9M 2020 Results: A Tale of One-Offs, Restructuring, and Resilience - Ecobank Transnational Inc. (ETI) result has been resilient in the face of harsh continental macroeconomic challenges caused by the COVID-19 pandemic. The growth in the banking group's gross earnings and profit before tax was severely affected by a  couple of one-off charges to its P&L account. Source Adaeze Nwachukwu, Proshare Research Read More

 

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PROSHARE BUSINESS

Petrol Price May Hit N180 as Oil Nears $50 - The pump price of Premium Motor Spirit, popularly known as petrol, may hit N180 per litre this month, according to marketers, as oil prices extended their rally on Monday, with Brent crude trading near $50 per barrel. Source Punch Read More

Buhari Reappoints AMCON MD, Nominates New MD for NDIC - President Muhammadu Buhari Monday renewed the appointment of Ahmed Kuru as the Managing Director of Asset Management Corporation of Nigeria (AMCON). He also reappointed Eberechukwu Uneze and Aminu Ismail as executive directors of the corporation for the final term of five years. Source THISDAYLIVE Read More

We'll Resuscitate Ajaokuta Steel, Ore Mining Firm - FG - The Federal Government is working to resuscitate the Ajaokuta Steel Company Limited and National Iron Ore Mining Company Limited at the same time, the Permanent Secretary, Federal Ministry of Mines and Steel Development, Oluwatoyin Akinlade, has said. Source Punch Read More

Lagos-Ibadan Rail Line Begins Commercial Operations - The Lagos-Ibadan rail line on Monday commenced commercial operations. Lagos Railway District Manager of the Nigerian Railway Corporation, Jerry Oche, who spoke to our correspondent said the first trip took place around 10:40 am. He said, "We have started commercial operations and it is picking gradually". Source Punch Read More

UK, EU Leaders to Meet Face-to-Face to Try to Seal Brexit Trade Deal - British and EU leaders will meet face-to-face to try to seal a post-Brexit trade deal after failing again to narrow their differences on Monday, increasing the chance of a disorderly parting of ways at the end of the month. Source Reuters Read More 

 

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PROSHARE TECHNOLOGY   

FintechNGR Social Meet 7.0 Scheduled to hold on December 09, 2020 -  The 7th edition of FintechNGR flagship event - Social Meet that brings members and ecosystem stakeholders has been scheduled to hold on Wednesday, 9th December 2020 by 05:00PM, a hybrid of a physical and online event with the Lagos Yacht Club, Onikan hosting the physical gathering. Source FintechNGR Read More 

 

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PROSHARE FINANCE

Access Bank Partners Coronation Insurance for Bancassurance - Bancassurance in Nigeria is likely to see renewed vigour as Access Bank Plc and Coronation Insurance rethink business opportunities by partnering to provide cross-selling opportunities across customer journeys of both companies. Source WebTV Read More

United Capital Launches Sukuk Fund To Deepen Non-Interest Finance In Nigeria - As part of efforts towards deepening the non-interest finance market in Nigeria, United Capital a leading financial services and investment banking group in Nigeria, launched its first ethical investment product the  "Sukuk Fund". Source WebTV Read More

LASG Partners Firstbank to Promote Access to Affordable Healthcare - The Lagos State Health Management Agency (LASHMA), in its commitment to ensure that residents at the grassroots have access to affordable, effective and quality healthcare, has partnered with First Bank of Nigeria Limited to utilize its over 13,000 Firstmonie Agents as payment channels for the Lagos State Health  Scheme (LSHS). Source FirstBank Read More 

 

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