Nigeria in 1min: Economic, Business and Financial Headlines - 081221


Wednesday, December 08, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Professor Yemi Osinbajo


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 COVID-19 Health Updates

  • 7th of December 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 214,896 cases (New: 107)
  • Discharged: 207,495
  • Deaths: 2,980 (New: 0)

Source: NCDC Read More


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Decent 9M 2021 VAT and CIT numbers - The National Bureau of Statistics (NBS) published data on the revenue generated from both Value Added Tax (VAT) and Company Income Tax (CIT) collections in Q3 2021. The total VAT collected in Q3 2021 was N500.5bn, a slight decline of 2.3% q/q from N512.3bn in Q2 2021. Source CSL Research Read More


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SEC Issues Exposure Draft of Its Proposed New Rule on Special Purpose Acquisition Companies - The Securities and Exchange Commission (SEC) has issued an exposure of its new rule on Special Purpose Acquisition Companies (SPACs) and proposed an amendment to its rule to rule 3(6)(b) which focuses on time for processing. Source SEC Nigeria Read More


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Investors Gain N5.38bn as NGXASI Inches Up by 0.02%, YTD Return Hits 4.34% - Equities market closed on a positive note, as NGXASI appreciated by 0.02% to close at 42,018.92 basis points as against -0.38% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +4.34%. Source Proshare Markets Read More


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Are Social Media Platforms Liable for Intellectual Property Infringements? - The last two decades has witnessed a rise in the use of the internet in general, and social media in particular. For example, in the United States, the number of internet users has increased from about 241 million in 2011 to over 302 million in 2021 with a projection to increase to about 321 million by 2025. Source Davidson and Raphael  of AELEX Read More

Seye Olurotimi of MSME Africa Wins 2021 FATE SME Journalist Award - The Founder and Publisher of MSME Africa, Seye Olurotimi has been named the winner of 2021 FATE SME Journalist Award at the FATE Foundation 2021 Annual Celebration and Events. Source MSME Africa Read More 

IFC, Others Back Nigeria Transport Firm with $110m - A subsidiary of the World Bank Group, the International Finance Corporation, and seven other venture capital firms have provided about $110m financing to Nigeria and United States based firm focusing on Nigeria's retail supply chain. Source Punch Read More

Omicron: NCAA Lists New Boarding Rules, Airlines Risk Ban - The Nigeria Civil Aviation Authority says international airlines will be made to pay $3500 fine on each passenger flown into the country not complying with the Federal Government's Revised COVID-19 Provisional Quarantine protocol. Source Punch Read More

Senate Demands Maximum Sanction for Oil Firm Bayelsa Spill - The Senate on Tuesday, described as unacceptable, the oil spillage caused by AITEO Eastern Exploration and Production Company Limited in Bayelsa State. Source Punch Read More

Nigeria's Most Viable Option for Net-Zero Emissions is LPG, Says Osinbajo - Vice-President Yemi Osinbajo says the use of liquefied petroleum gas (LPG) as a transition fuel is the viable option for Nigeria to address climate change and energy poverty. Source TheCable Read More

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Tech Returns for Telecom Companies? - Nigeria's telecom companies received a boost in November when it was announced that they had received approval-in-principal to receive Payment Service Bank (PSB) licenses. Stock prices flew.  Source Coronation Research Read More

Equinix to Expand into Africa with Acquisition of MainOne - Equinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure company, today announced its expansion into Africa through its intended acquisition of MainOne, a leading West African data center and connectivity solutions provider, with presence in Nigeria, Ghana and Cote d'Ivoire. Source MainOne Read More


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AIO Announces Incorporation of Regional Insurance Sector into AFCFTA - The President, African Insurance Organisation (AIO), Mr Tope Smart, has announced the official incorporation of insurance sector integration into the African Continental Free Trade Area (AFCFTA). Source THISDAYLIVE Read More 


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