Nigeria in 1min: Economic, Business and Financial Headlines - 151019

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Tuesday, October 15, 2019 / 06:50 AM / By News Aggregator / Header Image Credit: @ProfOsinbajo

 

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PROSHARE ECONOMY

Unlocking Liquidity in Nigeria - Ayo Teriba - It is surprising how Nigeria's impressively positive economic narrative from 1999 to 2014 has given way to an unflattering post-2014 narrative in which the economic terrain is about recession, inflation, unemployment, poverty, restiveness, and insecurity. Source Ayo Teriba of Economic Associates Read More 

FG Allocates N1.33trn To Top 12 Mdas - The Federal Government has allocated over N1,322.92 trillion for capital expenditure to top 12 Ministries Departments and Agencies (MDAs). This was even as it admitted that it was  responsible for the failure of  the Public Private Partnership (PPP) projects in Nigeria. Source The Sun Read More

FG Spent N3.3tn In Six Months, Says Minister - The Federal Government has spent the sum of N3.39tn within the first six months of this year to finance the 2019 budget. She gave the indication in Abuja on Monday during a public presentation of the 2020 budget, which was submitted by President Muhammadu Buhari to a joint session of the National Assembly last week. Source Punch Read More

Oil Benchmark Lowered over Expected Crude Glut, Says Finance Minister - The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has said the federal government adopted a lower oil benchmark price of $57 per barrel for the 2020 budget as against the $60 per barrel in the 2019 budget because of the expected oil glut in 2020, as well as the need to cushion against unexpected price shock. Source Thisday Read More


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PROSHARE MARKETS

Afrinvest Stock Recommendation For The Week 141019 - The Afrinvest Weekly Sentiment Indicator strengthened to 2.7 points from 2.6 points recorded in the previous week. This week, we expect the bearish sentiment in the market to persist as there are no major catalysts to boost investor confidence, although we see opportunities for bargain hunting. Source Afrinvest Read More

Investors Gain N11.52bn As NSEASI Inches Up By 0.09% To Open The Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by +0.09% to close at 26,557.44 points as against -0.19% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -15.50%. Source Proshare Read More

Sustained Bullish Run as Average Yield Falls 0.7% WoW to 12.6% - Last week, the Treasury Bills ("T-Bills") market extended its bullish run into a third consecutive week as sustained demand kept yields subdued on the back of buoyant system liquidity which stood at N248.5bn in the positive as at Monday. Source Afrinvest  Read More

DMO Lists Series II FGN ₦15bn 7-Year Green Bond on NSE - The Nigerian Stock Exchange (NSE) ("NSE or The Exchange") is pleased to announce the listing of the Federal Government of Nigerian (FGN) N15billion Green Bond on its daily official list, by Debt Management Office (DMO) on Monday, October 14, 2019. The 7-year Green bond issued at coupon rate of 14.50% on June 13, 2019 is due to mature on June 13, 2026. Source NSE Read More

 

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PROSHARE BUSINESS

CBi and the Maritime Anticorruption Network to hold Roundtable Session in Abuja on October 22, 2019 - Following the engagement and feedback from stakeholders after the #CBiMaritime Roundtable Session in Lagos on October 08, 2019, the Convention on Business Integrity in collaboration with the Maritime Anti-Corruption Network (MACN) is set to host the roundtable session again in Abuja on Tuesday, October 22nd, 2019 through its collective action platform  Business Action Against Corruption (BAAC). Source CBi Release Read More

FirstBank Georgian Cup Hits the Centenary Mark - A Record In Sports Sponsorship - First Bank of Nigeria Limited has announced its sponsorship of the Georgian Cup of the Kaduna Polo Tournament for the 100th consecutive year, possibly the longest running sports sponsorship in the world and a Guinness Book of Records potential. Source FBN Read More

Border Closure: All Goods Through Land Borders Remain Banned - NCS Boss - Ali made this known at a joint news conference with his counterpart from Nigeria Immigration Service, Mr Mohammed Babandede, in Abuja on Monday. He explained that the exercise banned all goods irrespective of the items, whether such goods were contraband or not. Source Vanguard Read More 

PFAs Invests N1.03tn Pension Funds In Banks - The Pension Funds Administrators increased the pension funds invested in the banking sector to N1.03tn as of the end of July. Figures obtained from the National Pension Commission revealed that this amounted to 11.03 per cent of the total pension funds which was N9.36tn in the period under review. Source Punch Read More

OPEC: Nigeria Rallies African Producers, Gets Sudan's Pledge on Cut - Ahead of the next meeting of the ministers of the Organisation of Petroleum Exporting Countries (OPEC), Nigeria has begun to rally African countries who are members of OPEC, in its bid to ensure the continent plays by the rules in the production limitation agreement reached by the cartel and its allies led by the Russian Federation. Source Thisday Read More

Global Stocks, Pound Rise On Cautious Brexit Deal Hopes - Asian stocks and the pound gained on Tuesday as investors held out hope that Britain still had a chance of avoiding a messy exit from the European Union at key negotiations this week. Source Reuters Read More


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PROSHARE TECHNOLOGY  

Africa Fintech Network - Notice of 2nd Annual General Meeting - The Africa Fintech Network has issued a notice of invitation to its 2nd Annual General Meeting (AGM) scheduled to hold as follows... Source AFN Read More

Roadmap 2020: Nigeria's Financial Exclusion Rate Currently 36.8% - CBN - Nigeria's Financial Exclusion rate has dropped from 46.3% to the current 36.8 %, representing a 10.2% reduction. Source Proshare Read More 

Facebook Admits Digital Currency Doubts As Regulatory Hurdles Loom - Facebook will struggle to secure regulatory approval to meet Libra's planned 2020 launch date, in the latest blow for the ailing social network's digital currency project. Source FT Read More


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PROSHARE FINANCE 

Insurance and Nigeria's Budget of Sustaining Growth and Job Creation - Not a few Nigerians, including the strongest critics of this administration, have given reasonable consideration to the way the Federal Government seeks to deploy its revenue and manage its expenses to "sustain growth and create more job opportunities", as elucidated in the 2020 Appropriation Bill. Source Ekerete Ola Gam-Ikon Read More 

 

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