Nigeria in 1min: Economic, Business and Financial Headlines - 121119

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Tuesday, November 12, 2019 / 06:35 AM / By News Aggregator / Header Image Credit: @AfDB_Group

 

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PROSHARE ECONOMY

FG's Quarterly Non-Oil Revenue Rises To N1.36bn - The Federal Government's revenue from the non-oil sector rose to N1.36tn in the third quarter of 2019. The Central Bank of Nigeria disclosed this in its economic report for third quarter report. Source Punch Read More 

Naira In Circulation Rose To N2.06tn In October - The Executive Vice Chairman, Highcap Securities, Mr David Adonri, said the increase in currency in circulation for October could be due to the Federal Government's implementation of the 2019 budget with more funds released to finance key projects. Source Punch Read More 

Customs generates N1.002trn revenue in 9 months - The data received by the News Agency of Nigeria (NAN) from the Department of Research and Statistics and confirmed by the NCS's public relations office indicated that the revenue was generated from 32 commands. The statistics showed that the service recorded the highest revenue of N123.6 billion in the month of July followed by N118.6 billion realised in May. Source Sun Read More

 

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PROSHARE REGULATORS 

CAC Moves To Delist Firms For Failure To File Annual Returns -  The Corporate Affairs Commission (CAC) has urged companies operating in the country to file in their annual returns as provided by the law or risk being delisted from its register. Head, Public Affairs, CAC, Mr. Moses Adaguusu, told News Agency of Nigeria (NAN) in Abuja that the call became necessary in view of the need to keep the commission abreast of such companies that were still in operation or otherwise. Source Guardian Read More

 

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PROSHARE MARKETS

What To Expect From The Markets This Week- 111119 - As part of the FGN's policy surrounding the closure of all land borders in Nigeria, it was announced that the FGN has suspended the supply of petroleum products to filling stations within 20km of all land borders. Source Proshare Read More  

Nigerian Banks: A Season of Mixed Performance; Reviewing The Growth Numbers - To provide Investors with clearer insight into how well banks did on a comparative basis in the 9 months to September 2019, a brief summary of comparative data was put together by Proshare and its associate analysts to put context to the three-quarter performances of selected local deposit money institutions. Source Proshare Read More 

 

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PROSHARE BUSINESS 

DIL Succession Update: Halima Dangote Appointed as Group Executive Director, Commercial Operations - Halima Aliko Dangote has been appointed as the Group Executive Director, Commercial Operations of Dangote Industries Limited (DIL) (Dangote.com), one of Africa's largest and most diversified business conglomerates. She is a Trustee of the Aliko Dangote Foundation, the philanthropic arm of the conglomerate. Source APO & Company Release Read More 

Nigeria'll Reopen Borders Before AfCFTA Begins Operations - Afreximbank - President of the Africa Export-Import Bank, Prof Benedict Oramah, has urged Nigeria and other African countries to deploy technology in monitoring their borders. Oramah spoke at the second edition of the African Investment Forum, which opened in Johannesburg, South Africa, on Monday. Source Punch Read More 

AfDB, Investors Plan To Close $67bn Deals - Investors and partners of the African Investment Forum are working on closing investment transactions worth $67bn at the second edition of the forum, which kicked off on Monday in Johannesburg. Source Punch Read More 

China Will Not Push EximBank to Fund 3050MW Mambilla Power Plant - China's Ambassador to Nigeria, Dr. Zhou Pingjian, has told the federal government that the government of his country will not push the China Exim Bank to expedite the process of its funding of Nigeria's construction of the 3050 megawatts (MW) Mambilla hydro power plant located in Taraba state. Source Thisday Read More 

Ghana Asked to Bail Out Investors at Risk of Losing $1.4 Billion - Ghana has been asked to provide more money to bail out investors who risk losing most of their savings, heaping pressure on a government struggling to put a lid on its expenses. Source Bloomberg Read More 

322 Nigerian Firms Shut Down In Five Years - World Bank - Harsh business environment in Nigeria forced about 322 organised private companies to close shop between 2009 and 2014, a report by the World Bank Enterprise Survey has shown. The report also said out of 5,833 firms sampled in the country within the period, at least1,136 were reported to be at the risk of closing down. Source Punch Read More 

 

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PROSHARE TECHNOLOGY   

12th NITDA e-Nigeria International Conference, Exhibitions and Awards Commences on Nov 28 - The National Information Technology Development Agency (NITDA) wishes to notify the general public that the 12th Edition of e-Nigeria International Conference, Exhibitions and Awards has now been slated to commence on Thursday 28th November, 2019. Source NITDA Read More 

Visa to Snap Up Stake in African Fintech Unicorn Interswitch - Visa  is to spend hundreds of millions of dollars to acquire a stake in Interswitch, an African payments group, in a deal that will see it becoming the continent's latest technology 'unicorn'. Source SkyNews Read More 

 

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PROSHARE FINANCE 

Islamic Finance: Women Can Run Businesses That Are Sharia Compliant - Dr. Tajudeen Yusuf - Islamic Finance has provisions for women to run their businesses that are sharia compliant, Dr Tajudeen Yusuf Associate Professor, Department of Actuarial Science and Insurance, University of Lagos disclosed in a recent interview with WebTV on the program "Islamic Finance Weekly." Source Proshare  Read More 

Why Fake Insurance Thrives in Nigeria - If you DECIDED to procure insurance for yourself or the company, how would you proceed? Where would you go to? Who would you reach out to? Why would you reach out to him/her?. Source OpEd By Ekerete Ola Gam-Ikon Read More 

 

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