Nigeria in 1min: Economic, Business and Financial Headlines - 180920


Friday, September 18, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @nbccng


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COVID-19 Health Updates

  • 17th of September 2020: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 56,735 cases (New: 131)
  • Discharged:  48,092
  • Deaths: : 1,093 (New: 2)

Source: NCDC Read More

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Average Fare For Bus Journey Within City Increased By 12.70% MoM in August 2020 - NBS - The Transport fare Watch report for August 2020 covers the following categories namely bus journey within the city per drop constant route; bus journey intercity, state route, charge per person; air fare charge for specified routes single journey; journey by motorcycle (Okada) per drop; and water way passenger transport. Source NBS Read More

FIRS Issues a Public Notice on Mandatory Requirements for Registration for Tax Purposes - Pursuant to the provisions of Section 8(1)(l) and (m) of the Federal Inland Revenue Service (Establishment) Act 2007, the FIRS (or "the Service") has issued a Public Notice on the statutory requirements for taxpayers to register for tax, irrespective of whether their profits are exempted from tax or not. Source KPMG Nigeria Read More

A COVID-Driven Sharp Fall in FGN Revenue - The numbers for non-oil revenue collection for the first two months of the year proved a false dawn as the impact of the Covid-19 virus has since been brutal. All categories are running well behind their benchmark for the year, and in May all (other than FGN independent revenue) produced a smaller take than the year-earlier period. Source FBNQuest Research Read More

FG Informs Accounts Holders in Financial Institutions to Complete Self-Certification Forms - This is to notify the general public that all account holders in Financial Institutions (Banks, Insurance Companies, etc) are required to obtain, complete and submit Self - Certification Forms to their respective Financial Institutions. Source FGN Read More

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NSE: A Journey Through Time - One of the most important assessments of the Nigerian stock market is its numbers. Between 2010 and 2019, the market's equities capitalization has grown from N7.91trn in 2010 to N12.67trn in 2019 or what amounts to compound annual growth of 5.64%. Source Proshare Research Read More

Investors Lose N8.86bn, NSEASI Dips by -0.07% Amid Positive Market Breadth - Equities market closed today on a negative note, as NSEASI depreciated by -0.07% to close at 25,533.35 basis points as against -0.19% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -4.88%. Source Proshare Markets Read More

DMO Steadies Rates for NTBs at PMA Today as Demand for Fixed Income Papers Continues Unabated - As expected, the FGN Bonds market resumed trading on a bullish note as investors continued to lock up incoming funds in papers mostly at the belly of the bond curve. Demand was evident on the 2024s - 2029s papers, as yields dropped by c.20bps on the average across that segment of the curve. Source Zedcrest Capital Read More


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Why we are Floating a New Institute - Chartered Institute of Stockbrokers - The Chartered Institute of Stockbrokers (CIS), yesterday, defended the floating of Chartered Institute of Securities and Investment Management, CISIM, to replace the Chartered Institute of Stockbrokers, CIS in line with global structure. Source Peter Egwuatu. Vanguard Read More

NNPC Records N20.36bn Trading Surplus - The Nigerian National Petroleum Corporation on Thursday announced that it recorded an increased trading surplus of N20.36bn in July 2020 compared to the N2.12bn surplus it posted in the preceding month. Source Punch Read More

PH-Maiduguri Rail Line Construction Begins Soon, Says FG - Once the Lagos-Ibadan railway project is completed in December this year, the construction of the eastern rail line which connects Port Harcourt-Bonny to Maiduguri will commence immediately, the Federal Government has declared. Source Punch Read More

FG Reviews Treasury Forms, Accounting Documents in MDAs - The Office of the Accountant General of the Federation on Thursday announced the commencement of a comprehensive review of treasury forms and other accounting source documents in use in all federal ministries, departments and agencies. Source Punch Read More

Power Producers Sell N294.16bn Electricity in Five Months - Electricity generation companies in the country sold electricity worth N294.16bn in the first five months of this year to the Nigeria Bulk Electricity Trading Plc. Source Punch Read More

U.S. Economic Rebound May Be A Slow Train for The Unemployed - In a week when leading forecasters boosted their view of the U.S. economic recovery, data on retail store traffic, small business hiring and other high-frequency indicators largely worsened, signalling a potential decoupling in which growth presses ahead while the job market slows to a painful crawl. Source Reuters Read More

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Nigeria Fintech Week 2020 Set to hold from October 05 - 10, 2020 - Every year, Nigeria and the world at large anticipate the "Nigeria Fintech Week" - a week-long event that contains a series of events and activities set to critically examine & develop the fintech ecosystem. The event organised by Fintech Association Nigeria seeks to discover fintech solutions that can transform interfacing sectors of the economy. Source Fintech Association Read More


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Google Earmarks $3m Grants to Support Businesses across Africa - Google Nigeria Country Director, Juliet Ehimuan, who announced the initiatives during the virtual Google Economic Recovery Roundtable, held, recently, said to provide assistance to vulnerable populations, has set aside $3 million in grants to nonprofits that support education, entrepreneurship and women empowerment across Africa. Source THISDAYLIVE Read More

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