Nigeria in 1min: Economic, Business and Financial Headlines - 110221


Thursday, February 11, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @SECNigeria


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COVID-19 Health Updates 

  • 10th of February 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 142,578 cases (New: 1131)
  • Discharged:  116,947
  • Deaths: : 1,702 (New: 8)
Source: NCDC Read More

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CPI to Rise by 16.10% YoY in January 2021 - At 15.75% (as at December 2020), Nigeria's inflation rate sits at a three-year high and sufficiently above the 12% - 13% threshold that the CBN considers injurious to economic growth. Source Meristem Research Read More

Nigerian Economy and Financial Markets: 2020 Review and 2021 Outlook - A Blurry Path to Recovery - In our 2020 Outlook report, titled Nigeria in the New Decade: Nothing Ventured; Nothing Gained, we had reviewed the performance of the Nigerian economy over the last decade and highlighted critical imperatives necessary to restore the nation on the path of prosperity in the new decade. Source Afrinvest Research Read More 

Outlook 2021: Eyeballing Major Economic Indicators in 2020 - Exchange Rate - There has been increased clamour for the CBN to unify its multiple exchange rate as local analyst have become increasingly wary of the government's foreign exchange management policy as a looming global trade meltdown may exacerbate problems with foreign exchange inflows Source Proshare Research Read More

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NSE Proposes Amendments to Rules Governing Transaction with Related Parties - The following proposed Rules/Rule Amendments are exposed for comments. Your participation is requested by way of reviewing the proposed Rule Additions and Amendments and providing your comments thereon. Source NSE Read More


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Investors Lose N425.92bn as NSEASI Dips by -1.96% Amid Increased Sell Pressure - Equities market closed today on a negative note, as NSEASI depreciated by -1.96% to close at 40,696.01 basis points as against -0.13% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +1.06%. Source Proshare Markets Read More

NCM 2020: A Review of Gote and Toni Indices in 2020 - Tony and Dangote indices have stocks with large Market CAPs which can suggest the overall sentiment of the market. Tony's index consists of AFRIPRUD, TRANSCORP, UBA, and UBCAP while Dangote's index consists of DANGCEM, DANGSUGAR, and NASCON. Source Proshare Research Read More

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Court Dismisses Case Against CBN's Directives on Bank Charges - The Federal High Court sitting in Abeokuta, Ogun State Capital, has dismissed a suit instituted by a legal practitioner, Olumide Babalola, challenging the Central Bank of Nigeria (CBN) policy on Current Account maintenance Fee contained in the Guide to the Charges by Banks and other financial Institutions of January 2020. Source CBN Read More

AfCFTA Commences Nationwide Awareness, Sensitisation Tour - The National Action Committee on the African Continental Free Trade Area has inaugurated a nationwide awareness and sensitisation tour to prepare Nigeria in taking advantage of the AfCFTA Agreement while mitigating its threats to the economy. Source Punch Read More

Reps Summon NNPC Chief Over N3.878tr Unremitted Revenue - The House of Representatives Committee on Public Accounts has summoned the Group Managing Director of the Nigeria National Petroleum Corporation (NNPC), Mele Kyari, to respond to an audit query from the Office of the Auditor-General of the Federation (oAuGF) on the N3.878 trillion under remittance revenue from domestic crude oil sales. Source The Nation Read More

Fed's Powell, Invoking War Effort, Calls for National Jobs Drive - U.S. Federal Reserve Chair Jerome Powell, citing the country's push after World War Two to find jobs for returning soldiers, on Wednesday called for a broad national effort to get Americans back to work after the pandemic, particularly minorities and workers ousted from lower-paying jobs. Source Reuters Read More

Oil Production: NNPC Seeks Stakeholders Collaboration for Cost Optimization - As a move to achieve $10 per barrel crude oil production cost, the Nigerian National Petroleum Corporation, NNPC, has insisted on stakeholders' collaboration in the oil and gas industry. Source Vanguard Read More 


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Stakeholders Explore Opportunities for Women in Digital Technology - The Fintech Association of Nigeria (FintechNGR) in collaboration with the Women in Management Business and Public service (WIMBIZ) on Saturday, February 6th, 2021, hosted the DigiWomen Masterclass webinar tagged "Digital Empowerment for Women in Career and Business". Source WebTV Read More

Mastercard to Open Up Network to Select Cryptocurrencies - Mastercard Inc said on Wednesday it was planning to offer support for some cryptocurrencies on its network this year, joining a string of big-ticket firms that have pledged similar support. Source Reuters Read More

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"Unwavering in our 60 year commitment to Nigeria through CSR, we activated a comprehensive response and mobilized a formidable team to support and collaborate with Nigeria in the fight against the COVID-19 Pandemic" - FMN. Learn more HERE



Aviation and the Pandemic - Aviation is one of the industries that has suffered severely due to the consequences of the pandemic outbreak. The expected behavioural change of passengers following the COVID-19 crisis, travel restrictions and the ensuing economic crisis have resulted in a dramatic decline in demand for airline services. Source FBNQuest Research Read More

FG Pledges to Implement ECOWAS Brown Card Insurance Scheme - The federal government has said it will ensure the full implementation of the ECOWAS Brown Card Insurance Scheme to guarantee prompt compensation to victims of road accident within the sub-region. Source THISDAYLIVE Read More 


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BoI, Abia Float N1bn Lifeline for SMEs - The Bank of Industry and the Abia State Government have signed a Memorandum of Understanding to provide N1bn to the Small and Medium Enterprise operators in the state. A statement from BoI quoted the Acting Managing Director, BoI, Mr. Waheed Olagunju, as explaining during the MoU signing ceremony at the Government House, Umuahia. Source Punch Read More


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