Nigeria in 1min: Economic, Business and Financial Headlines - 100621


Thursday, June 10, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; Followlasg

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COVID-19 Health Updates

  • 9th of June 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 166,982 cases (New: 64)
  • Discharged: 163,328
  • Deaths: : 2,117 (New: 0)

Source: NCDC Read More

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Headline Inflation to Increase Again to 18.2% in May 2021 - Based on our time series model and market survey, headline inflation is likely to increase to 18.2% in the month of May from 18.12% in April. The earlier news that headline inflation slipped marginally in April 2021 was received with a certain amount of skepticism by analysts. Source FDC Ltd Read More

An Overview of the Central Bank of Nigeria's Regulatory Framework for Non-Bank Acquiring - On 25 May 2021, the Central Bank of Nigeria ("CBN"), recently issued a circular to deposit money banks, payment service providers and other financial institutions notifying them of the release of the Regulatory Framework for Non-Bank Acquiring in Nigeria ("the Framework"). Source Olubusola Oyeyosola of AELEX Read More

Selling an Entrepreneurial View of Nigeria - I was graciously invited to a political meeting recently in Abuja. I hadn't been to such in a while and of course, my political interest in Nigeria is waning, but not my interest in Nigeria herself. Source OpEd by Tope Fasua Read More 

Naira Devaluation May Cause Inflation, Reps Warn CBN - The House of Representatives has asked the Central Bank of Nigeria to urgently put in place a policy to check further devaluation of the naira to the United States dollar and other international legal tenders. The House decried that while the Nigerian currency is losing value, others in Africa are gaining. Source Punch Read More 

FEC approves N895.5bn supplementary budget for military, COVID-19 - The Federal Executive Council, FEC, Wednesday approved the draft 2021 supplementary budget of N895,842,462,917. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, disclosed this while briefing State House correspondents at the end of the Council meeting presided over by President Muhammadu Buhari at the presidential villa, Abuja. Source Vanguard Read More

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Investors Gain N150.76bn as NSEASI Inches Up Further by 0.74%, Closes Above 39,000bpts - Equities market closed today on a positive note, as NSEASI appreciated by +0.74% to close at 39,170.95 basis points as against +0.50% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -2.73%. Source Proshare Markets Read More

Gross Official Reserves Declined by US$650m to US$34.23bn in May 2021 - We note from CBN data that gross official reserves declined by USD650m to USD34.23bn in May. For a more accurate snapshot, we should adjust this gross figure for the pipeline of delayed external payments: this adjustment was estimated at up to USD3bn by the IMF in late 2020. Source FBNQuest Research Read More

What are Derivatives in Financial Markets Trading? Understanding the Basics and Risks - Derivatives are financial market instruments that involve a contract between two parties for an agreed-upon event, outcome, or price movement of an asset. Derivative instruments derive their value from the value or return of another asset or security. Source Forex Brokers SA Read More 


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Sterling One Foundation Partners Proshare, Others for a Beach Cleaning Exercise on WED - In celebration of the day, Sterling One Foundation partnered with Proshare, African CleanUp Initiative, Rite Foods Nigeria, Nigerian Donors and Bonnie Biodegradable Nigeria for her 'Beach Clean Up' Initiative at Eleko Beach on Saturday, June 5th, 2021, to mark the 2021 World Environment Day with the theme "Ecosystem Restoration". Source WebTV Read More

Digital Transformation: The Medium Is Not the Message - It's a twister!" Who can forget the iconic tornado scene in The Wizard of Oz? While Dorothy's family and friends lock themselves in a storm cellar, Dorothy herself is swept far from home, landing in the strange and wonderful land of Oz. Source By Phillips Consulting Read More

FirstBank wins Global Banking and Finance's Retail Banking CEO Award - While the age-old saying and philosophy of virtue being its own reward (or seeing doing good as its own reward) remains a strong motivating factor in doing good persistently, it helps when virtue gets recognition from time to time. Source FirstBank Read More

Current Trends in the Recruitment Landscape in Nigeria and the West African Region - An overwhelming number of HR professionals and business leaders have repeatedly identified: attraction of skilled and professional workers, development of managerial capabilities, retention of high performers, succession pool depth, and shortage of management talent as the most critical challenges impacting their organisational strategy. Source Workforce Group Read More 


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What Are the Best Educational Technology Tools? - The use of educational tools improves the learning of students. These are beneficial for students and teachers. The best educational technology tools are meant to engage the students to the optimum. Source Sponsored Post by Jung Hoon Read More 

El Salvador First Country to Approve Bitcoin as Legal Tender - Bitcoin is to become legal tender in El Salvador, the country's president said, making it the first nation to adopt a cryptocurrency for everyday use. Lawmakers in the Central American nation's Congress passed a bill late Tuesday that will eventually allow the famously volatile digital currency to be used for many aspects of daily life, from property purchases to tax contributions. Source Guardian Nigeria Read More

Minister Presents Locally Manufactured Cell Phone to Buhari - Industry, Trade and Investment Minister, Otunba Adeniyi Adebayo, wednesday presented a made in Nigeria cell phone to President Muhammadu Buhari. He did the presentation of the phone named ITF Mobile shortly before the commencement of the Federal Executive Council (FEC) meeting presided over by President Buhari. Source THISDAYLIVE Read More

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Nigerian Pension Funds Have Invested N85.07bn in 3 Ijarah Sukuk issued by FGN - Pension funds in Nigeria have invested about N85.07bn so far in the 3 rounds of Ijarah Sukuk issued by the Federal Government of Nigeria. The Managing Director, AIICO Pension Managers Limited, Mr. Eguarekhide Longe made this point, while speaking on the State of Affairs on Islamic Finance in Nigeria. Source Bukola Akinyele-Yisau for WebTV Read More

Awareness and Perceptions of Migrants on the Dangers of Irregular Migration in Nigeria - The purpose of the study was to collect evidence-based data on awareness and perception of intending and returned migrants on dangers of irregular migration as well as government effort towards combating prevalence of irregular migration in Nigeria. Source NBS Read More 

PenCom Bans Charges on Micro Pension - To avert depletion of the micro pension fund, the National Pension Commission (PenCom) has mandated Pension Fund Administrators (PFAs) with the fund below N5 million to stop paying fee charges. PenCom Head, Surveillance Department, Ehimeme Ohioma made this known in a circular to PFAs. Source The Nation Read More

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FG Shortlists 550,000 for N-Power Programme Final Selection - The Federal Government through its National Social Investment Management System has shortlisted 550,000 applicants for the final selection for Batch C of the N-Power programme. It also said that the Central Bank of Nigeria would support Batches A and B beneficiaries who had completed the N-Power programme with soft loans. Source Punch Read More

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