Nigeria in 1min: Economic, Business and Financial Headlines - 170921

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Friday, September 17, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Facebook; Babajide Sanwo-Olu

 

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 COVID-19 Health Updates

  • 16th of September 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 200,957 cases (New: 299)
  • Discharged: 189,346
  • Deaths: 2,647 (New: 7)

Source: NCDC Read More

 

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PROSHARE ECONOMY

Inflation Down Again in August 2021 but Remains Astronomically High - The National Bureau of Statistics released its August CPI report this morning, two days ahead of the MPC meeting. As widely expected, Nigeria's headline inflation declined again to 17.01% from 17.38% in July. Source FDC Ltd Read More

The Evolution of the Nigerian Monetary System through Central Bank Digital Currencies - The financial landscape of Nigeria is never static. Constantly evolving, new services and products are periodically introduced that change the way Nigerians interact with Financial Institutions ("FIs") and the Nigerian monetary and payment system. Source Davidson Oturu and Oluwapelumi Omoniyi of AELEX Read More

The State of Nigerian Economy and Outlook for H2 2021 - Year-on-Year real GDP expanded by 5% in 2021Q2. This was mainly due to the base effect following the implementation of lockdown and restrictions in 2020Q2. Source Dr. Doyin Salami Read More

Nigeria Mining Week Back in October with Seven Compelling Reasons to Invest in Burgeoning - The much-anticipated Nigeria Mining Week expo and conference will return from 12-13 October as planned but will take place in a digital format again due to the current challenges in the market with regards to travel and COVID-19 restrictions. Source Nigeria Mining Week Read More

FG to Spend $4.9bn Fresh Loans on Kano-Niger Republic Rail Line, Others - A standard gauge rail being planned from Kano State in Nigeria to Maradi in Niger Republic is one of the projects the President, Major General Muhammadu Buhari (retd.), plans to fund with the fresh external loans he is asking the National Assembly to approve for his regime, The Punch has learnt. Source Punch Read More

Nigeria Piles up N2.36tn Debt Stock in Three Months - The Nigeria's total public debt stock rose from N33.11tn as of March 31, 2021 to N35.47tn as of June 30, 2021. This shows an increase of N2.36tn or 7.13 per cent increase within the three-month period. Source Punch Read More

Georgieva Pressured World Bank Employees to Favor China in Report - Ethics Probe - World Bank leaders, including then-Chief Executive Kristalina Georgieva, applied "undue pressure" on staff to boost China's ranking in the bank's "Doing Business 2018" report, according to an independent investigation released Thursday. Source Reuters Read More


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PROSHARE MARKETS

Investors Lose N29.71bn as NSEASI Dips by -0.15%, Erases Previous Day Gain - Equities market closed today on a negative note, as NSEASI depreciated by -0.15% to close at 38,911.31 basis points as against +0.12% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -3.38%.   Source Proshare Markets Read More

Access Bank Plc Successfully Launches $500m Senior Unsecured Eurobond With Record Oversubscription - Access Bank Plc (the Bank) (rated 'B' stable outlook by Fitch and 'B2' negative outlook by Moody's)  a leading full service Nigerian commercial bank with presence in 11 African countries, is pleased to announce the successful pricing of a US$500 million 144A/ Reg S Senior Unsecured Eurobond. Source Access Bank Read More 

 

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PROSHARE BUSINESS

Standard Chartered Launches Smart Business Loan (SBL) - Standard Chartered launched the Smart Business Loan (SBL) product for customers in Nigeria. SBL is an unsecured installment/term loan to Business Banking clients within key target sectors. Source Standard Chartered Bank Read More 

Prices of Cooking Gas May Rise Further as Supply Falls 20.5% - The Petroleum Products Pricing Regulatory Agency, PPPRA, on yesterday reported that the volume of Liquefied Petroleum Gas, LPG, also known as cooking gas, supplied in August fell by 20.5 percent to 85,264.803 metric tonnes (MT) compared to 107,224.584MT supplied in the month of July. The volume supplied in the month of June was 102,787.234MT. Source Vanguard Read More


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PROSHARE TECHNOLOGY   

Airtel, NIMC Urge Nigerians to Embrace Digital Identity Enrollment - Leading telecommunications services provider, Airtel Nigeria, has announced a strategic partnership with the National Identity Management Commission (NIMC) to intensify the campaign on the need for Nigerians to embrace digital identity (ID) enrollment in commemoration of this year's National Identity Day scheduled to hold tomorrow, 16th September. Source Airtel Read More

Ecobank Group Reaches Another Milestone in Financial Inclusion in Africa - The Ecobank Group and Semoa a Fintech-based in Lome are enabling mobile money users in Togo to carry out banking faster and easier, across West African Economic and Monetary Union (WAEMU) through a new digital banking service via Whatsapp called "Express cash by Semoa". Source Ecobank Read More

Pairview to host Global AI and Analytics Event on September 18, 2021 - Data Analytics and AI are crucial to solving some of the most complex challenges across all industries, whether private or public sectors. If your self-development is not embedded in technology, you will only experience incremental growth and not an exponential one. Source Pairview Read More 

FG Launches 'Improved Mobile App' to Enhance SIM-NIN Linkage - The federal government has launched the National Identity Management Commission (NIMC) mobile application to enhance the subscriber identity module (SIM) and national identification number (NIN) linkage. Source TheCable Read More

Stakeholders Back FG's 5G Network Rollout Approval, Assure Nigerians of High-Speed Data Connectivity, Low Latency - Industry stakeholders under the aegis of the Association of Licensed Telecoms Operators of Nigeria (ALTON), have applauded the federal government for approving the rollout of the fifth generation (5G) network in Nigeria stressing that the approval was a step in the right direction. Source THISDAYLIVE Read More


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PROSHARE FINANCE

Positioning Health Enterprises for Investments and Access to New African Markets - The ongoing coronavirus pandemic underscores the urgent need to invest in resilient health systems. While governments are deploying economic and public health measures to curtail the multidimensional impact of the pandemic. OpEd by Abiodun Awosusi Read More 


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