Nigeria in 1min: Economic, Business and Financial Headlines - 141021

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Thursday, October 14, 2021 / 5:22 AM / By News Aggregator / Header Image Credit: Facebook; Nigerian Economic Summit Group

 

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  COVID-19 Health Updates

  • 13th of September 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 208,404 cases (New: 251)
  • Discharged: 196,123
  • Deaths: 2,761 (New: 5)

Source: NCDC Read More

 

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PROSHARE ECONOMY

WEO October 2021 Report: Downside Risks to a Robust Global Recovery - The IMF's World Economic Outlook which was published yesterday (titled Recovery During a Pandemic) has a more sombre tone than its update report in July. The Fund cut its global growth projection by 10bps to 5.9% for this year but kept its FY '22 forecast unchanged at 4.9%. Source FBNQuest Research Read More

Senate Summons Seven MDAs Over Buhari's N5.01trn Loans - The Senate on Wednesday summoned the accounting officers of seven federal ministries, departments and agencies over their failure to defend their input in the N5.01trn loans proposed to fund the 2022 budget deficits. Source Punch Read More

Nigeria's Cost of Trade Too High for Investors, Says Okonjo-Iweala - The Director-General of the World Trade Organisation, Dr Ngozi Okonjo-Iweala, has said that Nigeria's trade costs are too high and, therefore, cannot attract investments. Source Punch Read More


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PROSHARE MARKETS

Investors Gain N80.36bn as NSEASI Inches up Further by 0.38%, Maintains Positive Posture - Equities market closed today on a positive note, as NGXASI appreciated by +0.38% to close at 41,051.19 basis points as against +0.45% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +1.94%. Source Proshare Markets Read More

NGX Group Receives Approval to List from NGX - Nigerian Exchange Group Plc ('NGX Group' or 'The Group') has received approval from Nigerian Exchange Limited (NGX or The Exchange) to list its shares on the main board of NGX on Friday, 15 October 2021. Source NGX Read More


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PROSHARE BUSINESS

Standard Chartered Bank Deepens Wealth Management in Nigeria, with Bank More Score More - As part of its strategy to deepen wealth management service in Nigeria, Standard Chartered Bank announced the launch of 'BANK MORE SCORE MORE', a campaign targeted towards rewarding clients of the Bank with an authentic Liverpool Football Club (LFC)-branded merchandise. Source Standard Chartered Bank Read More 

ABCON Advocates Measures to Curb Naira Depreciation, FX Challenges - The Association of Bureaux De Change Operators of Nigeria (ABCON) has advocated measures to curb the continued depreciation of the naira. The measures were contained in the ABCON Quarterly Economic Review for the third quarter of 2021. Source The Guardian NG Read More

NPA Assures Tin Can Port Access Road Completion Will Eliminate Apapa Gridlock - The Acting Managing Director of the Nigerian Ports Authority (NPA), Mohammed Bello-Koko, has said the completion of the entire stretch of the Tin Can port highway will totally eliminate the perennial gridlock within Apapa and its environs. Source The Guardian NG Read More

FG Targets $150bn from Special Agro-Processing Zones - The federal government on Tuesday said the proposed Special Agro-Processing Zones (SAPZs) by the African Development Bank (AfDB) will help the country generate $150 billion in foreign reserve in the next 10 years. Source Daily Trust Read More


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