Nigeria in 1min: Economic, Business and Financial Headlines - 130421

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Tuesday, April 13, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Ecographics

 

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COVID-19 Health Updates 

  • 12th of April 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 163,837 cases (New: 44)
  • Discharged: 154,177
  • Deaths: : 2061 (New: 1)

Source: NCDC Read More

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PROSHARE ECONOMY

Why Full Privatization of Nigeria's Oil Refineries is the Best Option - Tengi George-Ikoli - The privatization of all Nigeria's state-owned petrochemical refineries is the best option for increasing private sector participation in the oil and gas sector. Tengi George-Ikoli, the Program Coordinator Nigeria Natural Resource Charter disclosed this in a recent conversation on "Achieving Transparency and Accountability In Nigeria's Oil and Gas Sector". Source Ottoabasi Abasiekong for WebTV Read More

IMF to Provide Support for Nigeria and Other Low-Income Countries - The International Monetary and Financial Committee (IMFC), the policy advisory body of the International Monetary Fund (IMF), announced that it will introduce support to reduce poverty for low-income countries including Nigeria. Source CSL Research Read More

Transfer Pricing Awareness Survey Report 2020 - Since the introduction of the Income Tax (Transfer Pricing) Regulations, 2012, the Transfer Pricing regime in Nigeria has been steadily evolving. The FIRS has published revised regulations and issued guidelines to close the gaps in the tax laws and promote better understanding and compliance with the regulations. Source Wole Obayomi Read More

 

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PROSHARE REGULATORS

SEC to Hold First 2021 CMC on Thursday, April 15th - The Securities and Exchange Commission (SEC) has announced that the first Capital Market Committee (CMC) meeting in 2021 will hold from Thursday, April 15 to Friday, April 16, 2021. Source SEC Nigeria Read More

 

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PROSHARE MARKETS

Investors Lose N75.03bn as NSEASI Dips by -0.40% to Open the Week Negative - Equities market closed today on a negative note, as NSEASI depreciated by -0.40% to close at 38,712.55 basis points as against +0.17% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -3.87%. Source Proshare Markets Read More

Access Bank FY2020 Audited Results: Finding Balance; Rising Assets, Sliding Equity Returns - Access Bank Plc's stardust execution of exquisite mergers and acquisition plays has been reflected in the emerging continental banking giant's asset base growth over the last three years. As the largest deposit money institution (DMB) in Nigeria by customer size. Source Adaeze Nwachukwu, Proshare Research Read More

Wall Street Ends Lower as Investors Await Earnings, Inflation Data - The S&P 500 and Dow Jones industrial average ended lower on Monday, with investors waiting for cues from the upcoming corporate earnings season and a key inflation report later this week. Source Reuters Read More


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PROSHARE BUSINESS

How to Effectively Brand to Extend Career Opportunities - Good branding is arguably the most important thing when it comes to ensuring achievements along a career path. Omobabirin Adeola Osideko made this point in a recent conversation on the topic 'Branding for Career Opportunities'. Source Ayomide Oguntoye for WebTV Read More

Specta Hits N100bn Digital Loans Disbursement in Three Years - Online instant lending platform, Specta and PaywithSpecta, a digital credit solution introduced by Sterling Bank, have hit huge milestones - the disbursement of over N100 billion in digital loans and about N5 billion digital credits, respectively. Source Sterling Bank Read More

Protection of Intellectual Property Rights in Nigeria by Franchisors - Franchising is becoming more popular globally and with more franchises getting established in Nigeria, it is important that franchisors adequately protect the underlying rights that give value to franchises - their intellectual property rights (IPRs). Source Davidson Oturu and Frances Obiago (AELEX) Read More

CAC Sets Three-Hour Circle for Company Registration - The Corporate Affairs Commission on Sunday stated that following the successful deployment of an end-to-end registration module, it was now prioritising the reduction of the registration circle for new companies to just three hours before the end of year 2021. Source Punch Read More

Electricity Generation Falls to 3,922MW, 11 Plants Idle - Electricity generation in the country fell below the 4,000 megawatts mark on Sunday as 11 plants were idle, even as several others suffered declines in the output. Total power generation fell to 3,922.2MW as of 6am on Sunday from 4,394MW on Saturday, according to data obtained from the Nigerian Electricity System Operator. Source Punch Read More

NNPC Delivers 96 $2.8bn AKK Project Pipes by Rail to Itakpe - The execution of the nation's $2.8 billion Ajaokuta-Kaduna-Kano, AKK gas pipeline project was boosted, weekend, through the delivery of 96 pipes from Warri to Itakpe in Kogi state. Source Vanguard Read More

U.S. Budget Deficit Hits Record High for March as Aid Swells Outlays - The U.S. government posted a March budget deficit of $660 billion, a record high for the month, as direct payments to Americans under President Joe Biden's stimulus package were distributed, the Treasury Department said on Monday. Source Reuters Read More


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PROSHARE TECHNOLOGY

Binance Launches Zero-Commission, Tradable Stock Tokens - Binance is delighted to announce the official launch of its zero-commission, tradable stock tokens, allowing the users to trade fractional stocks. Stock tokens are denominated, settled, and collateralized in BUSD. Source Binance Read More

Migration to IPv6 Will Enhance Digital Economy, Says Pantami - The Minister of Communications and Digital Economy, Dr. Isa Ibrahim Pantami, has stressed the need for Nigerians to migrate from the use of Internet Protocol version four (IPv4) address system to Internet Protocol version six (IPv6), in order to diversify Nigeria's economy and prepare it for a digital economy transformation. Source THISDAYLIVE Read More

 

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PROSHARE FINANCE

Is Nigeria's Islamic Banking System Ready for the Fintech Era? - Digitalization picked up pace during the pandemic, new products, services, new customer behaviors, and innovative business ideas have emerged worldwide, and thus new business processes. Source Bukola Akinyele-Yisau for WebTV Read More

 

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