Nigeria in 1min: Economic, Business and Financial Headlines - 120521

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Wednesday, May 12, 2021 / 6:12 AM / By News Aggregator / Header Image Credit: Twitter; @dabiodunMFR


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COVID-19 Health Updates 

  • 11th of May 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 165,515 cases (New: 47)
  • Discharged: 156,358 
  • Deaths: : 2065 (New: 0)

Source: NCDC Read More


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PROSHARE ECONOMY

How Long Does It Take to Get My Usdot Number? - Companies that use commercial vehicles carrying passengers or goods in international trade must be registered with FMCSA and have a USDOT number. In addition, domestic commercial transportation companies must register USDOT numbers for the quantity and type of dangerous materials that require safety permits. Source Mason Hamilton Read More

Coastline Terminals: Dangote Group Does Not Own, Not Affiliated with ICTSI - Our attention has been drawn to an online publication by Sahara Reporters titled 'EXCLUSIVE: How Suspended NPA Boss, Hadiza Usman Awarded Coastline Terminals to Dangote's Proxy Company in Shady Deal', dated Sunday, May 9, 2021. Source Dangote Read More

Gross Federally Collected Revenue Stood at N807.54bn in January 2021 - Global economic outlook varied significantly across countries in January 2021, although the recent roll-out of the COVID-19 vaccines raised hopes of a rebound in global growth. The tepid expansion recorded in January 2021, was led by the US where business activities accelerated, despite continued supply chain disruptions. Source CBN Read More

FIRS Issues Public Notice on Payment of Outstanding Taxes By Tax Collection Agents - The Federal Inland Revenue Service (FIRS) recently issued a Public Notice reminding persons appointed as agents of tax collection by the relevant provisions of the Companies Income Tax Act (CITA) Cap.21, LFN 2004 (as amended) and the Value Added Tax Act (VATA) Cap V1, LFN 2004 (as amended), of their obligation to collect, deduct or withhold taxes on supply of taxable goods and service and remit same to the FIRS. Source Wole Obayomi Read More

FG: Presidential Power Initiative Will Unlock 25GW in Five Years - The federal government has reiterated that the current moves to revamp the power sector using the Presidential Power Initiative (PPI), Nigerians will have access to about 25GW of electricity in the next five years. Source THISDAYLIVE Read More

Fed Govt Mulls Petrol Pricing Template Review - The Federal Government is considering how to adjust the Premium Motor Spirit (petrol) template to address the demands of members of the Nigerian Transport Owners Association (NARTO) that withheld their services recently. Source The Nation Read More


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NGX Group to Launch "The Stock Africa Is Made of" Campaign - Nigerian Exchange Group (NGX Group) Plc is set to launch a campaign to project its new positioning and commitment to the African financial markets as a leading capital market infrastructure provider, connecting Nigeria, Africa and the world. Themed, The Stock Africa Is Made Of, the campaign will kick off with a webinar on Tuesday, 18 May 2021. Source NGX Read More

Investors Gain N36.59bn as NSEASI Inches Up Further by 0.18%, Maintains Positive Posture - Equities market closed today on a positive note, as NSEASI appreciated by +0.18% to close at 39,382.96 basis points as against +0.29% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -2.20%. Source Proshare Markets Read More 

FSDH Funding SPV Plc Lists Series 1 Bonds on FMDQ Exchange - FMDQ Securities Exchange Limited ("FMDQ Exchange" or "the Exchange") is pleased to announce the approval, by the Board Listings and Markets Committee, of the listing of the FSDH Funding SPV PLC N7.05 billion Tranche A and N4.95 billion Tranche B Series 1 Fixed Rate Bonds ("the Bonds") under its N30.00 billion Debt Issuance Programme on its platform. Source FMDQ Read More


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AfDB Wants $5bn Mobilised for AFAWA, Tackling Youth Unemployment in Africa - The African Development Bank (AfDB) has called for the support of African public development banks towards the Affirmative Finance Action for Women in Africa (AFAWA) as well as tackling youth unemployment on the continent. Source The Guardian Read More

Maize Farmers Urge FG to Sustain Ban on Importation of Commodity - The Maize Association of Nigeria (MAAN), has urged the federal government to maintain the ban on the importation of the commodity into the country. According to them, the policy would further boost local capacity as well as incentivise farmers. Source THISDAYLIVE Read More

OPEC's Compliance with Oil Production Cuts Deal 122% in April - Report - The Organisation of the Petroleum Exporting Countries (OPEC) says its compliance with the OPEC+ oil production cuts deal totalled 122 per cent in April, as production averaged 25.08 million barrels per day. Source Vanguard Read More 

 

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PROSHARE TECHNOLOGY

E-Payments: Building the Path to Digitalization - The recent data from the Nigeria Inter-Bank Settlement System (NIBSS) has shown solid growth across the various e-payment channels in the first 4 months of 2021 (January-April). NIBSS Instant Payment (NIP) transactions recorded a sturdy 107.9% y/y and 110.8% y/y growth in transaction value and volume to N79.5tn and 999.2m. Source CSL Research Read More

Does Fintech Need the Nigerian Financial Markets? - The relationship between the Fintech Industry and the Financial Markets is a symbiotic one in that they both stand to gain tremendously from each other. Fintechs in Nigeria primarily need the capital markets for capital mobility. Source Emeka Ngene, Head of Advisory, DLM Capital Group Read More


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PROSHARE FINANCE

Possible Violation of Patient Rights Under The FCCPA and Extant Laws - Monday, May 10, 2021: Between Friday, May 7" and Sunday, May 9", the Federal Competition & Consumer Protection Commission (Commission) learned from multiple channels and sources about the sad and unfortunate deaths of Mrs. Peju Ugboma after a surgical/medical procedure at Premier Hospital, Victoria Island, Lagos State; and Ms. Omolara Omoyajowo after receiving care at Beachland Specialist Hospital, Arepo, Ogun State. Source FCCPC Read More

NPHCDA Issues Statement on Concerns About the Safety of the Oxford AstraZeneca Vaccine - We are aware of precautionary concerns that have been raised regarding one specific batch of the AstraZeneca vaccine, namely ABV5300. We understand that investigations are being conducted to determine if the batch is in any way linked to an observed side effect. Source NPHCDA Read More

 

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PROSHARE MSME

Tony Elumelu Foundation Partners Stanford University in New Research on African Entrepreneurship - The Tony Elumelu Foundation, Africa's leading philanthropy, in partnership with Stanford University has released a comprehensive research study centred on African entrepreneurs. The report revealed amongst others, pertinent cultural factors which influence the entrepreneurial journey of women especially. Source TEF Read More 

 

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