Nigeria in 1min: Economic, Business and Financial Headlines - 140121

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Thursday, January 14, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Ecographics


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COVID-19 Health Updates

  • 13th of January 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 103,999 cases (New: 1398)
  • Discharged:  82,555
  • Deaths: : 1382 (New: 9)

Source: NCDC Read More


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PROSHARE ECONOMY

Countdown to the January 31 Deadline for Filing 2020 PAYE Tax Returns - It is now 12 working days to the expiration of the 31 January 2021 statutory deadline for the filing of Employer's Pay-As-You-Earn (PAYE) tax returns ("the Returns"). The Returns, which show each employee's emolument and tax paid in the preceding year. Source Wole Obayomi Read More

2021 Budget to Focus on Security, Human Capital Development and Infrastructure - Zainab Ahmed - The 2021 Budget of the Federal Government christened "Economic Recovery & Resilience" will give top priority to Security, Human Capital Development, and Infrastructure in the nation. Minister for Finance, Budget, and National Planning, Dr. Zainab Ahmed, disclosed this at a virtual presentation of the breakdown of the 2021 FGN Budget. Source WebTV Read More

FHC Upholds the Illegality of Stamp Duty Deductions Prior to Amendment of the SDA - The Federal High Court (FHC or "the Court") Asaba Division, on Wednesday 9 December 2020 held in the case between Mr. Rupert Irikefe (trading as Abimbola Energy Ventures (the Plaintiff) and Central Bank of Nigeria (CBN), Zenith Bank Plc ("the Bank") & Attorney General of the Federation (AGF). Source Wole Obayomi Read More

62.18% of Nigeria's Total Public Debt as of Q3 2020 Was Domestic - NBS - Nigerian States and Federal Debt Stock data as of 30th September 2020 reflected that the country's total public debt portfolio stood at N32.22trn. Nigeria's total public debt showed that N12.19trn or 37.82% of the debt was external while N20.04trn or 62.18% of the debt was domestic. Source NBS Read More 

Oil and Gas: Linking Up the Dots - Nigeria's O&G sector has been a key driver of domestic economic growth in the last four decades bringing huge foreign revenues but lacking complementary growth in infrastructural and socio-economic development. Source Proshare Research Read More

States' Cash Crunch Worsens, NLC Opposes Borrowing Pension Funds - There were strong indications on Thursday that the financial problems facing state governments had worsened as many states had yet to start the payment of N30,000 minimum wage 11 months after the deadline given by the Nigeria Labour Congress for the conclusion of negotiations. Source Punch Read More 

 

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PROSHARE MARKETS

Investors Gain N23.58bn as Market Maintains Positive Posture, NSEASI Inches Up Further by 0.11% - Equities market closed today on a positive note, as NSEASI appreciated by +0.11% to close at 40,341.05 basis points as against +0.36% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +0.17%. Source Proshare Markets Read More

Budget 2021 Public Presentations: FG Set to Raise over N4.5trn in both Local and INTL Markets - Trading activities in the FGN Bond market improved today, albeit it was still a drab trading session with most of the action centred at the belly of the bond curve. We saw a bit of demand on the 2034s and 2037s bond, with participants lifting offers around 8.50%. Source Zedcrest Capital Read More 

 

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PROSHARE BUSINESS

IATA Foresees Low Passenger traffic as Ticket Purchases Decline - The International Air Transport Association is worried that there may not be any significant improvement in passenger volumes in the near term. The IATA in its Economics' Chart for the week explained that ticket purchases rising towards the third week of December reversed in the same month. Source Punch Read More

Digital Euro Could Happen 'Within Five Years': Lagarde - A digital euro should be a reality within five years, European Central Bank president Christine Lagarde said Wednesday. Source The Guardian Nigeria Read More

National Assembly Sets First Quarter Deadline for PIB passage - The National Assembly will pass the Petroleum Industry Bill (PIB) before the end of this quarter as legislators work to tighten loopholes and bolster Nigeria's earnings from its natural resources. Source The Nation Read More

U.S. December Deficit Hits $144 Billion, Record for The Month - The U.S. government posted a December budget deficit of $144 billion - a record for the month - due to far higher outlays with coronavirus relief spending and unemployment benefits, while revenues ticked slightly higher, the Treasury Department said on Wednesday. Source Reuters Read More

Trump Bolsters Ban on U.S. Investments in China - President Donald Trump has signed an order strengthening a November ban on U.S. investments in alleged Chinese military companies, the White House said on Wednesday, curbing Chinese access to U.S. capital markets days before he leaves office. Source Reuters Read More 

 

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PROSHARE TECHNOLOGY

Can Bitcoin Become the Next Global Reserve Currency? - One of the most interesting trends surfacing in the crypto industry today is the increasing likelihood of Bitcoin emerging as the next global reserve currency - something that Bitcoin fundamentalists have been preaching for the last decade. Source Avery Wright Read More

Anchorage Gets OCC's First National Charter Granted to a Crypto Bank - With Acting Comptroller Brooks on his way out the door, the OCC has given its first digital bank charter. Custody pioneer Anchorage is the first crypto firm to see a charter from the U.S. national bank regulator. Per a Wednesday announcement from the Office of the Comptroller of the Currency, Anchorage will have conditional authorization to operate as a trust institution nationally. Source Cointelegraph Read More

US to Boost 5G Rollout - The United States (US) government has begun consulting on potential approaches to spur development of an open 5G ecosystem, as it moves to offset potential interoperability issues which could hinder the technology. Source THISDAYLIVE Read More


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PROSHARE FINANCE

Perspective on Personal Finance Management Goals for Women in 2021 - Elizabeth Ekpo - In a recent conversation on "Personal Finance Management in 2021" Elizabeth Ekpo a Chartered Financial Analyst, CFA, highlighted ways in which women could achieve financial liberation in a year shaped by the uncertainties of COVID-19. Source WebTV Read More 


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