Nigeria in 1min: Economic, Business and Financial Headlines - 181019


Friday, October 18, 2019 / 06:35 AM / By News Aggregator / Header Image Credit: WebTV


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Nigeria's Blue Economy: Thought To Action - The blue or marine economy is the ecosystem of economic activities centred on trade and actions around large bodies of water ranging from rivers to oceans, which are managed in a way as to ensure environmental sustainability. Source Proshare Read More

Nigeria Must End Reliance On Oil To Fight Poverty - IMF - The Managing Director of the International Monetary Fund, Ms Kristalina Georgieva, has said that there is a need for the Federal Government to diversify the economy from the oil in order to reduce the level of economic vulnerabilities currently facing the country. Source Punch Read More

FG, Labour Reach Agreement On Percentage Increase For Workers - Organised Labour and the Federal government on Thursday finally agreed on percentage increase of the consequential adjustment in workers' salaries as a result of the new minimum wage of N30, 000. After three days of horse trading and intense negotiation, both teams finally shifted ground from their earlier positions and agreed on certain percentages. Source TheNation Read More

FG, States, LGs Share N693.529bn For September - The amount comprises revenue from the Value Added Tax, exchange gain and gross statutory revenue. FAAC also announced that as of October 17, 2019, the balance in the Excess Crude Account was $323.692m. Source Punch Read More

FG Mulls New Tax On Coke, Bigi, Other Soft Drinks - The minister made this known while addressing the media, including TheCable, on the sidelines of the ongoing annual meetings of the International Monetary Fund and World Bank Group. Source TheCable Read More

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Interpretative Guidance To Rules On Order Handling And Best Execution - On 16 October 2017, The Nigerian Stock Exchange ("The Exchange") received the Securities and Exchange Commission's ("SEC" or "the Commission") approval to publish the Rules on Order Handling and Best Execution (the "Rules"). Source NSE Nigeria Read More

Seven Banks Fail CBN's Stress Test - The financial stability report signed by CBN Director, Financial Policy and Regulation Department, Kelvin Amugo, showed that in the less than 30-day period analysis, seven banks were not adequately funded, while in the 31 to 90-day period, nine banks had funding gaps. Source TheNation Read More


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Market Sentiment Remains Negative As NSEASI Dips Marginally By -0.06% Amid Positive Breadth - Equities market closed today on a negative note, as NSEASI depreciated by -0.06% to close at 26,456.29 points as against -0.16% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -15.83%. Source Proshare  Read More 

Invest in FGN Monthly Bond Auction - October 2019 - 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 for. Source DMO Read More

INTBREW Shareholders Approve Proposed Rights Issue; Price Put At N9.00 - International Breweries Plc ("International Breweries" or "the Company") hereby notifies The Nigerian Stock Exchange that the Shareholders of the Company at the General Meeting held on 15 October, 2019 approved the Rights Issue. Source NSE Read More 


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FG Approves Privatisation Bids For Power Companies - The National Council on Privatisation (NCP), has approved Transcorp Power Consortium as the preferred bidder for the Afam Electricity Generation Company (Afam Power Plc and Afam Three Fast Power Limited), with a bid price of N105.3billion (about $343.6million) and Diamond Stripes Consortium as the reserve bidder with N102.3billion. Source Guardian Read More 

British Pound Rises On Brexit Draft Deal - Pound soared Thursday to within a whisker of $1.30, striking five-month peaks after the European Union reached a draft Brexit withdrawal deal with London. The pound quickly rose more than one percent to $1.2990 before profit-taking set in. The euro slid to 85.76 pence as the news flashed across traders' screens. Source Gaurdian Read More

China's GDP Growth Grinds To Near 30-Year Low As Tariffs Hit Production - China's third-quarter economic growth slowed more than expected and to its weakest pace in almost three decades as the bruising U.S. trade war hit factory production, boosting the case for Beijing to roll out fresh support. Source Reuters Read More

China's Quarterly Economic Growth Sinks To 26-Year Low Amid US Trade War - China's economic growth sank to a 26-year low in the latest quarter amid pressure from a trade war with Washington, adding to a deepening slump that is weighing on global growth. Source The Guardian Read More

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Firstbank Hosts Fintech Summit 3.0 - Nigeria's premier and leading financial services provider, First Bank of Nigeria Limited hosted the third edition of its annual Fintech summit themed "Banking + Tech = Solving Real Problems". Source First Bank Read More


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