Nigeria in 1min: Economic, Business and Financial Headlines - 121120


Thursday, November 12, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @followlasg


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COVID-19 Health Updates

  • 11th of November 2020: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 64,516 cases (New: 180)
  • Discharged:  60,737
  • Deaths: : 1,162 (New: 2)

Source: NCDC Read More

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SERAP Calls for No Budget Allocation to MDAs That Fail to Remit to Federation Account - Ministries, Department and Agencies (MDAs) that fail to remit their funds to the federation account should not receive appropriation going forward. This was the major takeaway from the presentation of the report "Above the Law: How Ministries, Departments and Agencies are Getting Away With Corruption In Nigeria" by the Socio-Economic Rights Accountability Project (SERAP) in Lagos. Source WebTV Read More


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Dangote Cement 9 Months 2020 Result: Robust Performance in Uncertain Times - As economic activities pick up post-lockdown, the group posted an impressive performance for its 9 months 2020 results. Strategic decisions were taken in H1 2020 to protect the group from the adverse effect of the COVID-19 pandemic which positioned the Lagos-based cement company for stronger financial performance in 9 Months 2020. Source Adaeze Nwachukwu, Proshare Research Read More

NSEASI Closes Above 33,000bpts, Hits 24-Month High as CAP Records N324.63bn Gain - Equities market closed today on a positive note, as NSEASI appreciated by +1.90% to close at 33,268.36 basis points as against +1.25% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +23.94%. Source Proshare Markets Read More 

Asian Shares Rise On Vaccine Bets But Analysts Urge Caution - Asian shares rose toward a more than two-year peak on Thursday, buoyed by sustained global stimulus efforts and hopes of a coronavirus vaccine, but some analysts warned of the risk of a correction lower. Source Reuters Read More

Capital Market Operators Advocate for N1tr Infrastructure Fund - The newly elected President of the Association of Issuing Houses of Nigeria (AIHN), Mr. Ike Chioke has urged capital market operators in the country to champion the floating of a N1 trillion infrastructure fund for the country. Source THISDAYLIVE Read More

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CAC Releases Draft Companies Regulations Made Under CAMA 2020 - The Corporate Affairs Commission (CAC) has published the Draft Companies Regulation made under the Companies and Allied Matters Act, 2020. This was made public on its official website on November 4th, 2020.  Source Proshare Research Read More 

Strike: FG, PENGASSAN Meeting Deadlocked - The meeting to halt the strike by oil workers which was held between the Federal Government and members of the Petroleum and Natural Gas Senior Staff Association of Nigeria ended in a deadlock. Officials of PENGASSAN said the meeting was declared inconclusive as some of the demands of the oil workers were not met. Source Punch Read More

EITI Seeks Increased Transparency from NNPC - The global Extractive Industries Transparency Initiative (EITI) has praised the Nigerian National Petroleum Corporation (NNPC) for its new-found commitment to transparency in its businesses, especially publishing its audited financial statement for the first time in 43 years. Source THISDAYLIVE Read More

Experts Insist on Mass Metering Before Implementation of New Tariff - Experts have criticised the implementation of the new electricity tariff structure and urged the Federal Government to ensure that electricity consumers are metered first before the commencement to eliminate outrageous billings. Source The Guardian Nigeria Read More

From EndSARS to Clampdown - Initial election returns seemed to be going Donald Trump's way until absentee ballots were being counted. And nobody was sure how he would respond to the change of fortune that put his vote tally behind that of former Vice President Joe Biden in key battleground states. Source THISDAYLIVE Read More

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NCC Publishes Draft Consultative Document on the Deployment of 5G Technology in Nigeria - The Nigerian Communications Commission has a clear ambition to ensure that the Digital Economy Policy of the Federal Government is accomplished and one of the instruments for the realization of this Policy is the availability of a robust information and communication network in the country. Source NCC Read More

Tech Companies Tied to U.S. Lawsuit Against Google Get More Time to Propose Protective Order - Microsoft Corp MSFT.O, Oracle Corp ORCL.N and other companies that have provided information to the U.S. government for its antitrust lawsuit against Alphabet's Google GOOGL.O were granted more time on Wednesday to propose a protective order for their confidential data. Source Reuters Read More

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Africa's Internet Economy has the Potential to Reach $180bn by 2025 - The African Internet economy is one of the largest overlooked investment opportunities of the past decade with potential for profound impact on development. The mobile Internet is transforming life across the continent with the support of growing local connectivity and mobility and a dynamic, young urban population. Source Google Africa and IFC Read More


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