Nigeria in 1min: Economic, Business and Financial Headlines - 160621

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Wednesday, June 16, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Ecographics


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COVID-19 Health Updates

  • 15th of June 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 167,095 cases (New: 17)
  • Discharged: 163,483
  • Deaths: : 2,117 (New: 0)

Source: NCDC Read More

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PROSHARE ECONOMY

Headline Inflation Increases by 17.93% YoY In May 2021, 0.19% Lower Than April 2021 Rate - NBS - The consumer price index, (CPI) which measures inflation increased by 17.93 percent (year-on-year) in May 2021. This is 0.19 percent points lower than the rate recorded in April 2021 (18.12 percent). Source NBS Read More

FAAC Disburses N640.31bn in February 2021 - NBS - The Federation Account Allocation Committee (FAAC) disbursed the sum of N640.31bn to the three tiers of government in February 2021 from the revenue generated in January 2021. Source NBS Read More

Oil Prices Rise as Demand Outstrips Supply - OIR 150621 - Oil prices are up at the start of the week on growing demand optimism. "Oil prices really are in a positive June upswing as demand and supply are recovering in an unequal speed," Rystad's Louise Dickson said in a statement. Source Tom Kool of Oilprice Read More

Interviewing President Buhari - OpEd by Dr. Reuben Abati - I have been privileged to interview quite a number of world leaders in the course of my journalism career. These include President Olusegun Obasanjo, President Ketumile Masire of Botswana, President Umaru Musa Yar'Adua, Commonwealth Secretary-General Shridath Ramphal, UN Secretary-General Kofi Annan etc... Source OpEd by Dr. Reuben Abati Read More

NNPC Rallies Gas Producers to Enhance Supply to Gencos - The Nigerian National Petroleum Corporation (NNPC) has begun engagement with gas producers in the country in order to boost gas supply to power generation companies (Gencos). Source THISDAYLIVE Read Morer'Adua, Commonwealth Secretary-General Shridath Ramphal, UN Secretary-General Kofi Annan etc... Source OpEd by Dr. Reuben Abati Read More

Comercio Partners May 2021 Macro-Economic Report - Trajectory of Inflation Points Northwards - The global economic recovery continued in May as major developed economies eased restrictions. US nonfarm payroll came in below expectations but was solid in absolute terms. Meanwhile, retail sales in the US, the UK and the Eurozone remained strong. Source Comercio Partners Asset Mgt Read More

Inflation Pushed Seven Million Nigerians Below Poverty Line - World Bank - The World Bank has said rising prices pushed about seven million Nigerians below the poverty line in 2020. This was contained in a press statement titled 'Critical reforms needed to reduce inflation and accelerate the recovery, says new World Bank report' released by the bank's Senior External Affairs Officer for Nigeria, Mansir Nasir, on Tuesday. Source Punch Read More

NNPC Rallies Gas Producers to Enhance Supply to Gencos - The Nigerian National Petroleum Corporation (NNPC) has begun engagement with gas producers in the country in order to boost gas supply to power generation companies (Gencos). Source THISDAYLIVE Read More


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PROSHARE REGULATORS

SEC Sets June 30 2021 as Deadline for Registration as a Crowdfunding Intermediary Platform - Failure to comply with this deadline will mean that the operations of such platforms will be categorized as illegal and attract regulatory sanction as stipulated in the Rules (which came into effect on 21st January 2021). Source SEC Nigeria Read More

 

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PROSHARE MARKETS

Investors Lose N339.85bn as NSEASI Dips by -1.66% to Open the Week Negative - Equities market closed today on a negative note, as NSEASI depreciated by -1.66% to close at 38,507.29 basis points as against -0.14% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -4.38%. Source Proshare Markets Read More

Commercial Paper Issuance by Corporates to Increase in H2, 2021 - Commercial Paper Issuance by Corporates will increase in the second half of the year 2021, as they take advantage of the low-yield environment to raise funds to support their operations and even achieve expansion of activities that should translate to value for the market. Source Ottoabasi Abasiekong for WebTV Read More 

SEC Grants NG Clearing Limited Registration as Nigeria's Premier Central Counterparty - Nigeria's apex capital market regulator, the Securities and Exchange Commission (SEC) has granted NG Clearing Limited (NG Clearing) registration to perform the function of a central counterparty (CCP) with effect from 7th June 2021. This registration now permits NG Clearing to clear and settle Exchange-traded derivative products - making NG Clearing the first CCP in Nigeria. Source CSCS Read More


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PROSHARE BUSINESS

NLNG Train 7 $10bn-Investment Begins, Buhari Warns Against Delay - The President, Major General Muhammadu Buhari (retd.) has inaugurated the construction of the Nigeria Liquefied Natural Gas train 7 project and charged the company to ensure its timely completion. Source Punch Read More

'Electricity Complaints Top FCCPC's Intervention List' - The Federal Competition and Consumer Protection Commission (FCCPC) has lamented the poor service delivery of Distribution Companies (DisCos), saying it has left most consumers frustrated, with the majority resorting to self-help. Source The Guardian Nigeria Read More

Nigeria Loses N100bn Annually to Tax Related Fraud - Key professionals in the country's tax industry have disclosed that the country loses about N100 billion annually to tax related fraud. The experts, who made the disclosure at a conference organised by the country's leading anti-corruption group, at the weekend, said, this is not a good development for a country struggling to meet its domestic financial needs. Source LeadershipNG Read More 

 

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PROSHARE TECHNOLOGY

Things You Need to Consider Before Using Crypto Signals - First thing you need to make sure of is the source of free signals. This is important to know because you are investing your money on the behalf of the signals, so you need to make sure either you are investing on the trusting source or not. Source Sponsored Post by Bilal Ahmed Read More

Insights from Happenings in the Fintech Landscape - 110621 - In recent times it has become more evident that cryptocurrency is not a sector to be overlooked and beyond retail trading, institutional investors and government are beginning to give it tangible attention, particularly as it relates to payment infrastructure, CBDCs and digital assets. Source FintechNGR Read More

Major Cybersecurity Threats Facing Nigerian Economy - The Coronavirus pandemic has sped up digitalization globally as most of the economy has been forced to move online, thus increasing cybersecurity threats in Nigeria. Due to rapid digitalization, hackers have exploited this opportunity to attack the digital infrastructure of Nigeria. Source Sponsored Post by ruth albert Read More 

Telcos Back Licensing of Twitter, Others - Nigerian telecommunications operators have thrown their weight behind the directive of the Federal Government to register Over-The-Top (OTT) service providers in the country. They, however, said the Nigerian Communications Commission (NCC) is the appropriate agency to undertake such registration rather than the National Broadcasting Commission (NBC) directed to commence the registration by the government. Source The Nation Read More


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PROSHARE FINANCE

Health: Lagos Kicks Off 3rd Edition of BOSKOH with Volunteers' Training - The 3rd Babajide Olusola Sanwo-Olu & Kadiri Obafemi Hamzat Healthcare Mission International (BOSKOH) commenced at the weekend with Volunteers' Training at the Adeyemi Bero Hall, Alausa Secretariat, Ikeja, Lagos. Source BOSKOH Read More 


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