Nigeria in 1min: Economic, Business and Financial Headlines - 101019

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Thursday, October 10, 2019 / 06:50 AM / By News Aggregator / Header Image Credit: @NigeriaGov

 

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PROSHARE ECONOMY

Inflation Set to Buck its Declining Trend - Our survey shows that headline inflation in September is likely to spike to 11.22%. This is coming after three months of consecutive decline. This spike in the general price level would be driven partly by the closure of the Seme border which has resulted in shortages of smuggled commodities especially rice, turkey, chicken and baking margarine. Source FDC Read More

IMF Staff Concludes 2019 Visit to Nigeria - An International Monetary Fund (IMF) staff team led by Amine Mati, Senior Resident Representative and Mission Chief for Nigeria, visited Lagos and Abuja from September 25 to October 7, 2019 to discuss recent economic and financial developments, update macroeconomic projections, and review reform implementation. Source IMF Staff Team Read More

All Products Terms Of Trade Index Increased By 1.27% in Q2 2019 - The All commodity group import index decreased by 0.25% due to the fall in prices of  textiles and textile articles, Raw hides and Skin, Boilers Machinery and Appliances. Source NBS Read More

President Buhari Inaugurates, Sets Agenda For Economic Advisory Council - President Muhammadu Buhari Wednesday in Abuja administered oaths of office on members of the newly constituted Presidential Economic Advisory Council (PEAC), and also set an agenda of what they should accomplish in the shortest possible time. Source Vanguard Read More 

 

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PROSHARE MARKETS 

Investors Lose N102.71bn As Market Sentiment Remains Negative; NSEASI Dips By -0.79% - Equities market closed today on a negative note, as NSEASI depreciated by -0.79% to close at 26,598.94 points as against -0.21% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -15.37%. Source Proshare Markets Read More 

T.Bills Yields Drop Further As Market Liquidity Persists - Activity in the T-bills market remained bullish, as yields further nose-dived by c.25bps across all tenors. Short end maturities went as low as 10.75%, while on the long-end, yield were as low as 12.8% at close of trading. Source Zedcrest Capital Read More 

Afreximbank Plans IPO On London Stock Exchange - The African Export-Import Bank has announced its plans to list on the London Stock Exchange by way of an Initial Public Offering. The LSE announced on Wednesday that the Afreximbank said it intended to publish a registration document and consider proceeding with an IPO of global depositary receipts, representing Class D ordinary shares of the bank. Source Punch Read More

 

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PROSHARE BUSINESS

NBCC To Host Stakeholders Breakfast Meeting On Corporate Governance  - The Nigerian-British Chamber of Commerce (NBCC) in partnership with Andersen Tax, FCMB, Firstbank and Proshare is set to host a Breakfast Meeting themed "Enthroning a Culture of Good Governance" on Thursday, October 17, 2019 at the Lagos Oriental Hotel by 08:00 am. Source NBCC Read More 

Commission Delists Over 40,000 Dormant Registered Companies For Non-Performance - For non-performance, over 40,000 names of registered companies have been delisted from the nation's registration records in the last two years by the Corporate Affairs Commission (CAC).CAC said: "We have succeeded to clean up our registration records by delisting at least 40,000 registered companies from our system between October 2017 and October 2019. Source Guardian Read More

UK Commits Additional Euro 2.5m to Support Free Trade in Commonwealth - The Department for International Trade and International Development has committed an additional Euro 2.5 million of UK aid funding for the Commonwealth Standards Network (CSN) programme, pledging that it would continue to partner Commonwealth in championing free trade in the face of growing global challenges. Source Thisday Read More

LCCI, Oxford Business Group Seal Deal - The Lagos Chamber of Commerce and Industry (LCCI) has signed a memorandum of understanding with the Oxford Business Group (OBG) on the latter's forthcoming 'The Report Nigeria 2020' publication. Source Thisday Read More

China Lowers Expectations For U.S. Trade Talks After Blacklist: Officials - Surprised and upset by the U.S. blacklisting of Chinese companies, China has lowered expectations for significant progress from this week's trade talks with the United States, Chinese government officials told Reuters, even as President Donald Trump on Wednesday expressed fresh optimism. Source Rueters Read More

 

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PROSHARE TECHNOLOGY  

Airtel Africa Announces Partnership with Mastercard in Africa - Airtel Africa today announced a partnership with Mastercard, giving over 100 million Airtel Africa mobile phone users across 14 African countries access to Mastercard's global network. Source NSE Read More

Adejoke Adekunle, to Represent Nigeria at the Prestigious U.S. Sponsored TechWomen Programme - Marketing and Media Entrepreneur, Adejoke Adekunle, has been shortlisted as one of the 2019 emerging leaders in STEM across Africa, Central and South Asia, and the Middle East, invited to participate in the US-government sponsored TechWomen Programme. Source bhmng Read More

Facebook Expands Fact-checking Programme to 10 African Countries - Having established its third-party fact-checking programme in Nigeria, Kenya, South Africa, Cameroon and Senegal, Facebook has announced the expansion of the programme to 10 additional African countries. Source Thisday Read More

 

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PROSHARE FINANCE 

How to Save Money for Investment - All of us want to save money from core of our heart. But a large part fails to do so. Have you ever thought what is preventing you from reaching your financial goal? It is YOU. Source FinanceGAB Read More 

 

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