Nigeria in 1min: Economic, Business and Financial Headlines - 170920

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Thursday, September 17, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @NGRPresident

 

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COVID-19 Health Updates

  • 16th of September 2020: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 56,604 cases (New: 126)
  • Discharged:  47,872
  • Deaths: : 1,091 (New: 3)

Source: NCDC Read More


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PROSHARE ECONOMY 

The Structural Origins of Rising Inflation - Headline inflation accelerated for the twelfth successive month in August to 13.22% y/y from 12.82% the previous month. (Our expectation, shared with the newswires, was a little changed rate of 12.85% with a positive harvest impact). Source FBNQuest Research Read More

Emefiele, Olugbemi, Akinwuntan Insist Banks Must Play a Critical Role to Restore Stability - Banking stakeholders have in unison insisted that banks must play a critical role to restore the Nigerian economy from the negative effects of COVID-19. Speaking at the Chartered Institute of Bankers of Nigeria (CIBN) 13th Annual Bankers Conference in Abuja. Source Ecobank Read More

NLC Gives FG Sept 28 Deadline to Reverse Fuel Price, Electricity Tariff Hike - The Nigeria Labour Congress (NLC) has given the federal government till September 28 to reverse the recent increases in the pump price of fuel and electricity tariff of face a nationwide industrial action. Source THISDAYLIVE Read More

 

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PROSHARE MARKETS 

NSE Ten Years After a Takeover: The Good, The Bad and Undecided - One rarely spoken about problem Okere-Onyiuke faced was the attempt by certain Council members to railroad a demutualization process that would have allowed owners of bellwether stocks listed on the Exchange to take up major equity in the Exchange... Source Proshare Research Read More 

Investors Lose N1.16bn, NSEASI Dips Further by -0.19% as Sell Pressure Persists - Equities market closed today on a negative note, as NSEASI depreciated by -0.19% to close at 25,550.31 basis points as against -0.03% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -4.81%. Source Proshare Markets Read More 

Invest in FGN Monthly Bond Auction - September 2020 - The Central Bank of Nigeria on the authority of The Debt Management Office on behalf of the Federal Government Of Nigeria Offers for Subscription by Auction and is authorized to receive applications. Source DMO Read More

An Impending Food Crisis? - Data from the National Bureau of statistics showed that the price of local rice rose by 30.9% between July 2019 and July 2020. The increase in the price of rice is said to have resulted in an increase in demand for maize. Source CSL Research Read More


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PROSHARE BUSINESS 

CBN Interventions Prevented Nigeria From Going Into Larger Contraction In Q2 - Godwin Emefiele - The various COVID-19 interventions by the Central Bank of Nigeria (CBN) prevented Nigeria from experiencing a larger contraction in Q2, 2020. Mr. Godwin Emefiele the Governor of the CBN disclosed this at the opening session of the 13th annual banking and finance conference, organized by the Chartered Institute of Bankers of Nigeria (CIBN). Source WebTV Read More

LCCI Gets ISO Certification - The Lagos Chamber of Commerce and Industry (LCCI) was yesterday presented with the International Standard Organisation (ISO) 9001: 2015 Certification by the Bureau Veritas, in Lagos. Source THISDAYLIVE Read More

690m People Hungry Globally, Says FAO - Food and Agriculture Organisation (FAO) said nearly 690 million people globally were hungry last year. In a report entitled: "Tracking progress on food and agriculture-related Sustainable Development Goals (SDGs) indicators 2020," FAO observed that the number was raised by 10 million people in one year and by nearly 60 million in five years. Source The Nation Read More

Fed Govt Unveils Guidelines for Solar Mini-Grids Inspection - The Federal Government yesterday unveiled the Solar Mini-Grid Inspection Guidelines to Support Standardised Procedures of the Nigerian Electricity Management Services Agency (NEMSA ). Source The Nation Read More

Ekiti State Gets NEPZA Nod to Establish Agro Economic Zone - Ekiti State has been given the approval to establish a knowledge-based and agriculture special economic zone by the Nigeria Export Processing Zones Authority (NEPZA). The move is aimed at better harnessing the State's comparative advantage in the areas of scholarship and agriculture, making it the first service-oriented zone in Nigeria. Source The Guardian Nigeria Read More

Fed Touts Economic Recovery, Vows to Keep Interest Rates Low - The Federal Reserve on Wednesday vowed to keep interest rates near zero until inflation is on track to overshoot the U.S. central bank's 2% target, a bold new promise aimed at bringing millions of out-of-work Americans back to the labor market. Source Reuters Read More


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PROSHARE TECHNOLOGY 

Kraken Granted Approval for "America's First Crypto Bank" - Crypto exchange Kraken has received regulatory approval to form the world's first fully regulated crypto bank in the U.S. state of Wyoming. In an announcement early on Wed 16 Sep., Kraken revealed that the new institution, tentatively called Kraken Financial, will be a Special Purpose Depository Institution (SPDI). Source Beincrypto Read More 

 

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