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Tuesday, November 17, 2020 / 6:00 AM / By News Aggregator / Header
Image Credit: Twitter; @dabiodunMFR
COVID-19 Health Updates
Source: NCDC Read More
Click Here to Read Latest News Updates
PROSHARE ECONOMY
Headline Inflation Increases By 14.23% YoY In October 2020, 0.52% Higher Than September 2020 Rate - The consumer price index, (CPI) which measures inflation increased by 14.23 percent (year-on-year) in October 2020. This is 0.52 percent points higher than the rate recorded in September 2020 (13.71 percent). Source NBS Read More
Finance Bill 2021: Stakeholders Engagement Begins - The Federal Ministry of Finance, Budget and National Planning has released the draft version of the 2020 Finance Bill (the Bill) to the public for consultation. This affirms the Federal Government of Nigeria's commitment to enact Finance Acts annually, alongside the passage of the budget into law (i.e. enactment of Appropriation Act). Source Deloitte Read More
Ardova Signs
Lubricants Deal with Shell in the Nigerian Market - Shell lubricants products will be widely available
to the Nigerian market later this year, following a new deal with Ardova PLC
(AP). Announcing the deal in a statement in Lagos on November 12, 2020, the
chief executive officer (CEO) of Ardova Plc, Olumide Adeosun, said: "We
are delighted that our company will act as the main distributor for Shell
Lubricants for the automotive and industrial sectors in Nigeria". Source
Ardova Read More
Investment
Market Trembles as Buhari Signs BOFIA 2020 - With the
signing of the Banking and Other Financial Institutions Act (BOFIA) (amendment)
Bill 2020, the reality of a tougher regulatory regime is unnerving the banking
sector, investigation by The Guardian revealed at the weekend. Source The
Guardian Read
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PROSHARE MARKETS
Investors Lose N137.62bn as NSEASI Dips by -0.75% to Open the Week Negative - Equities market closed today on a negative note, as NSEASI depreciated by -0.75% to close at 34,774.08 basis points as against -0.86% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +29.55%. Source Proshare Markets Read More
Nigerian Breweries Q3 2020 Results Review:
Retaining Underperform Rating Despite Strong Q3 - Although Nigerian
Breweries' (NB) 9M 2020 earnings were close to our forecast, its Q3 performance
was broadly impressive, given that results for this quarter are typically the
weakest within the year. PBT of N2.6bn was the highest since 2015 and compares
with a loss of -N2.2bn in Q3 2019. Source FBNQuest Research Read More
Asia Stocks
Gain After Vaccine Hopes Push Wall Street to Record Highs - Asian
stocks opened firmer on Tuesday after the S&P 500 and Dow Jones indexes hit
record highs on news of another promising coronavirus vaccine, which supported
hopes of a quicker economic recovery. Source Reuters Read
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PROSHARE BUSINESS
CIBN, CBN
Governor Advocate Leveraging Tech to Improve Administration of Justice in
Nigeria - Banking and Judiciary stakeholders have jointly
insisted that the administration of Justice must use technology to guard
against the adverse effects of COVID-19.
Source CIBN Read More
Naira Plunges
to 475 as Dollar Demand Rises - The naira weakened further
on Monday, trading at 475 to the United States dollar in the parallel market
amid a rise in demand for the greenback. The local currency, which has come
under pressure in recent days, fell to 470 per dollar on Friday from 468 on
Thursday. The naira was trading at 462-463 at the unofficial market at the
start of this month. Source Punch Read
More
CBN's Policy
Blocks Banks, Investors from N622bn Illegal Earning - The
new Treasury Bills policy of the Central Bank of Nigeria, CBN, has effectively
obstructed about N622 billion interest earnings that would have accrued to
banks and other individual and corporate investors in the money market. Source Vanguard
Read
More
Loan-to-Deposit
Ratio: CBN Counts Success as Policy Clocks One Year - There
are indications that the current Loan-to-Deposit Ratio, LDR, policy of the
Central Bank of Nigeria, CBN, is turning positive despite the macroeconomic
adversities arising from the impact of Coronavirus (COVID-19) Pandemic. Source Vanguard
Read
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PROSHARE TECHNOLOGY
Leadway Partners AWABAH to Provide Financial Services to The Informal Sector - Leadway has agreed to partner with Awabah Nigeria to bring financial services closer to the informal sector, with a keen eye on further enhancing Nigeria's financial inclusion goals. Awabah Nigeria is a financial service company that is built to assist its audience take that big step in their lives and escape living paycheck to paycheck. Source AWABAH Read More
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PROSHARE FINANCE
A Positive View
on Africa pre-Pfizer - One of the
casualties of the Covid-19 virus beyond the estimated 1.3 million deaths has
been the holding this year in London of Invest Africa's The Annual Debate. The
event took place on a virtual basis the week before last. Source FBNQuest
Research Read More
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PROSHARE MSME
World
Bank: Africa's MSMEs Worst Hit By Virus - Micro,
small, and medium enterprises (MSMEs) took a devastating hit from COVID-19
pandemic with more firms in sub-Saharan Africa axing more jobs as sales took a
terrific hit, the World Bank said at the weekend. Source The Nation Read
More
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MSME
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