Nigeria in 1min: Economic, Business and Financial Headlines - 120919


Thursday, September 12, 2019 / 7:00 AM / By News Aggregator / Header Image Credit: @nsenigeria


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Companies Operating In Nigeria To Pay A New Police Fund Levy - The Nigerian Police Trust Fund Act (the "Act") was passed by the National Assembly in April 2019, and signed into law by the President on 2 July 2019. Source Taiwo Oyedele Read More

CBN Issues Regulation On Electronic Payments And Collections For Public And Private Sectors - The Central Bank Of Nigeria (CBN) The Bank In Exercise Of Its Powers Under The CBN Act, 2007, Hereby Issues The Regulation On Electronic Payments And Collections For Public And Private Sectors In Nigeria (The Regulation). Source CBN Read More

FEC Approves Increase In VAT To 7% From 2020, To Seek NASS Approval For Enabling Law - The Federal Executive Council (FEC), presided over by President Muhammadu Buhari has approved a two per cent increase in Value Added Tax (VAT) to move it from five to seven percent. Source Proshare Read More

23,141 Tax Defaulters Owe N254bn -  FIRS - The Federal Inland Revenue Service Says A Total Of 23,141 Defaulters Owe N254bn In Tax Liabilities. The Service Also Said It Recovered Over N97.7bn From Tax Defaulters Since It Gave The Directive To Banks. Source Punch Read More

Oil Prices Rise As US Crude Inventories Decline - Oil Prices Have Increased After The American Petroleum Institute Reported A Larger-Than-Expected Decrease In US Crude Oil And Gasoline Inventories. Brent Crude Futures Rose 51 Cents To $62.89 A Barrel, While West Texas Intermediate Futures Increased 54 Cents To $57.94 Per Barrel, Reuters Reported. Source Punch Read More 

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A Quiet Trading Session as Global Oil Pressure Weigh on Nigerian Sovereign Eurobonds - Concerns of global oil supply cuts as a shuffle in President Trump's signalled a possible way to a deal with Iran, thus pressuring the NGERIA Sovereigns to give up previous gains in today's session. Source Zedcrest Capital Read More 

CBN Injects $210m Into Forex Market - The interbank segment of the Foreign Exchange Market has received another boost of $210 million from the Central Bank of Nigeria (CBN) following sales concluded on Tuesday, September 10, 2019. Source CBN Read More 

Investors Gain N51.54bn As NSEASI Erases Previous Day Loss - Equities market closed today on a positive note, as NSEASI appreciated by +0.39% to close at 27,153.53 points as against -0.16% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -13.61%. Source Proshare Read More 


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Non-profit, Non-governmental Organisations Basic Regulations - Legal Alert - The continuing proliferation of Non-Profit ("NPO") and Non-Governmental Organisations ("NGO") with the controversies that have followed attempts to regulate these NPOs/NGOs to adopt best governance practices have unfortunately ignored existing statutory provisions which regulate the activities of NPOs/NGOs. Source Oserogho & Associates Read More 

U.K. Reaches Post-Brexit Deal With World's Oldest Customs Union - The five members of the Southern African Customs Union and Mozambique have reached a deal with the U.K. to govern trade between them after Brexit. Source Bloomberg Read More

U.K. Warns of Sweeping Risk of Chaos From No-Deal: Brexit Update - The U.K. published warnings of disruption to trade, financial services and food supplies if it leaves the European Union without a deal on Oct.31. Source Bloomberg Read More

Asian Stocks Hit Six-Week High On Trade War Hopes Ahead Of ECB - Asian stocks hit a six-week high on Thursday on hopes for a thaw in U.S.-China trade frictions and expectations that the European Central Bank would kick off another wave of monetary easing by global central banks. Source Reuters Read More

Trump Suspends New Tariff Increase On Chinese Goods By Two Weeks 'As A Gesture Of Goodwill' - United States (US) President, Donald Trump said on Twitter on Wednesday night that he would delay by two weeks the next increase in tariffs on Chinese goods as a "gesture of good will" to advance trade talks that have made little progress for months. Source Vanguard Read More 


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BOI to Boost Entrepreneurship Devt with Technology Hubs - The Bank of Industry (BoI) has announced plans to roll out programmes geared towards building the capacities of entrepreneurs to ideate, incubate and launch successful businesses deploying the use of technology hubs. Source Thisday Read More


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