Nigeria in 1min: Economic, Business and Financial Headlines - 110621

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Friday, June 11, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Facebook; Jidesanwooluofficial


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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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PROSHARE ECONOMY

Africa: The Untold Stories of Women in Politics - Ambassador Folake Marcus-Bello, former Nigerian Ambassador to Zambia and Malawi and a Lawyer recently spoke about the untold stories of women in politics and her experience as a Nigerian ambassador to African countries. Source Ayomide Oguntoye for WebTV Read More

Central Bank of Nigeria Issues New Framework for Payment System Providers - On 9th December 2020, the Central Bank of Nigeria (CBN) the Central Bank of Nigeria (CBN) issued a circular on "New License Categorisations for the Nigerian Payments System" (NPS Circular). Source AELEX Read More

Detail Solicitors Forum: Stakeholders Call for Clarity on Nigerian Tax Provisions for Tech Companies - Stakeholders at the Detail Solicitors forum on "Taxation of the Digital Economy" agreed that the provisions and laws covering taxation in Nigeria should be rejigged with clarity and consistency for technology companies. Source Ottoabasi Abasiekong for WebTV Read More

NASS Pledges Speedy Approval for N895bn Supplementary Budget - The President of the Senate, Ahmad Lawan, on Thursday, promised Nigerians that the National Assembly will give speedy approval to the N895bn supplementary budget announced by the Federal Executive Council on Wednesday. Source Punch Read More

Nigeria's Total Debt Rises by N191bn in Three Months, Hits N33.1tn - Nigeria's total debt stock rose by N191bn in the first quarter of this year, according the figures released by the Debt Management Office on Wednesday. The DMIO said the debt stock rose to N33.107tn as of the end of March 2021 from N32.916tn in December 2020. Source Punch Read More


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PROSHARE REGULATORS

SEC Sets Deadline of June 30 for Compliance with Crowdfunding Rules - The Securities and Exchange Commission (SEC or "the Commission") recently announced a deadline of Wednesday, 30 June 2021 for compliance with the SEC Crowdfunding Rules ("the Rules"). Source Wole Obayomi Read More

 

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PROSHARE MARKETS

Investors Gain N20.41bn as NSEASI Inches Up by 0.10% Amid Negative Market Turnover - Equities market closed today on a positive note, as NSEASI appreciated by +0.10% to close at 39,210.10 basis points as against +0.74% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -2.63%. Source Proshare Markets Read More

Onion Sellers Strike: Another Layer of Concern - These concerns have worsened in the past two weeks, following the announcement of the halt in supply of onion and the threat to cut food supply by the Onion Producers and Marketers Association (OPMAN), and the Amalgamated Union of Food Stuff and Cattle Dealers of Nigeria (AFUCDN), respectively. Source CSL Research Read More 

 

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PROSHARE BUSINESS

Leading Women in HR: The Uniqueness of Women in the Workplace - Ever since the first impact of the COVID-19 pandemic, women have been at the frontlines as essential service providers, innovators, and as some of the most exemplary and effective business executives who effectively lead COVID-19 response and recovery efforts in their nations, organisations, and communities. Source Workforce Group Read More

Four West African Countries to Buy Nigeria's Idle Electricity - Niger, Togo, Benin and Burkina Faso are collaborating to buy the unutilised power produced in Nigeria, the Chairman of the Executive Board of the West African Power Pool, Sule Abdulaziz, said on Wednesday. Source Punch Read More

FG Expresses Commitment to Support Privatised Enterprises - The federal government is committed to providing an enabling environment for all privatised enterprises in the country to perform optimally in order to realise the privatisation objectives. Source THISDAYLIVE Read More

Trade Between Nigeria, South Africa Hits $2.9b in 2020 - Despite concerns about xenophobia between Nigeria and South Africa, bilateral ties between the two countries hit $2.9 billion last year with hopes of improved trade with the African Continental Free Trade Area (AfCFTA). Source The Guardian Nigeria Read More


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PROSHARE TECHNOLOGY

NBC Directs Every OBS Provider and Social Media Platforms to Obtain Service Licence - The National Broadcasting Commission has directed all Online Broadcast Service Providers and Social Media Platforms operating within the Nigerian State to apply and obtain a broadcast licence for their services. Source Proshare Research Read More

Lessons from India: How Modi Govt's New Rules Will Regulate Digital Media and OTT Content - A new set of rules notified by the Narendra Modi government Thursday mandates online media as well as OTT platforms to follow the existing content codes meant for television and print media, and to set up a grievance redressal structure that will look at any violation of the rules. Source Amrita Nayak Dutta of ThePrint Read More

Sovereign vs Tech Giant - India Makes Its Case Against Twitter - The Government strongly controverts the claims made by Twitter today in its press release. India has a glorious tradition of free speech and democratic practices dating back centuries. Protecting free speech in India is not the prerogative of only a private, for-profit, foreign entity like Twitter, but it is the commitment of the world's largest democracy and its robust institutions. Source Govt of India, Ministry of Electronics and IT Read More

FinTech App Installation Soars By 160% In Nigeria - Sub-Saharan Africa saw impressive growth in financial technology (FinTech) app with installation in Nigeria climbing 160 per cent. Nigeria was closely followed by Kenya which recorded 100 percentage growth while FinTech app installation in South Africa saw a 52 per cent rise. Source LeadershipNG Read More


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PROSHARE FINANCE

Nexford University Completes Pre-Series A Funding of US $10.8 Million - Nexford University ("the Company"), a next-generation online university based in Washington D.C., announces the successful completion of a $10.8 million Pre-Series A funding round. The capital raise was led by Global Ventures, the UAE-based venture capital firm. Source Nexford University Read More

Insurance Sector Update: Recapitalisation... Another Dead End? - In our Insurance Sector report 2020 ("Recapitalisation - Launching into the Deep"), we highlighted the global insurance sector performance in 2019. The sector premiums reached $6.3tn in 2019 after scaling the $5.0tn mark in 2018 as the non-life segment surpassed forecast and reported a 3.5% growth in premiums to $3.4tn. Source Afrinvest Research Read More


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