Nigeria in 1min: Economic, Business and Financial Headlines - 190919

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Thursday, September 19, 2019 / 7:00 AM / By News Aggregator / Header Image Credit: @FinMinNigeria

 

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PROSHARE ECONOMY

The Biggest Day For Oil In 50 Years - OIR 170919 - We will take a quick look at some of the critical figures and data in the energy markets this week. We will then look at some of the key market movers early this week before providing you with the latest analysis of the top news events taking place in the global energy complex over the past few days. Source OilPrice Read More

Banking Sector Update - Latest Cashless Initiative Largely Positive For Banks - As part of its cashless policy initiatives, the Central Bank of Nigeria (CBN), yesterday, announced that banks will now be allowed to take charges on customer deposits in excess of N500 thousand (individuals) and N3 million (corporates), respectively. This new measure builds on previously issued guidelines related to charges on large cash withdrawals. Source CardinalStone Research Read More

Countdown to September 2019 CBN MPC Meeting: Key Economic and Market Issues To Watch - As the Monetary Policy Committee (MPC) of the Central Bank of Nigeria meets today to review key issues around the monetary policy rate (Interest Rate), Cash Reserve Ratio (CRR), Liquidity Ratio and the Asymmetrical rate Corridor , various local stakeholders expect the Bank to hold indicative policy ratios constant as it assess the impact of the last rate cut. Source Proshare Read More

CBN Approves Charges On Withdrawals And Deposits; Unbundles Charges on Electronic Merchants - Effective today, bank customers will pay a huge fine for cash deposit or withdrawal above N500k for individuals or N3m for corporates. The CBN, in a circular to all deposit money bank (DMBs), announced the commencement of charges on deposits in addition to already existing charges on withdrawals. Source CBN Read More

Nigerian Consumers' Spending Patterns Are Changing - Pilot Report - What does the Nigerian consumer spend his money on? And how have these spending patterns evolved in recent times? Thinking comprehensively about consumer spending entails reflecting, in a broad-based manner, on the range of commitments to which income earners - and non-income earners (who, nonetheless, make expenditures) - are obliged, on account of what they receive periodically. Source KAINOS Edge Read More

Average Fare Paid For Intercity Journey Increases By 0.35% MoM To N1,624.76 In August 2019 - The Transport fare watch report for August 2019 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

MPC To Maintain Accommodative Stance - To Balance Extant And Emerging Risks - The Monetary Policy Committee (MPC) will hold its penultimate meeting for the year on September 19 and 20, 2019. This is the fifth meeting for the year and will afford the committee an opportunity to critically evaluate the quality of its previous decisions vis-a-vis the state of the Nigerian economy. Source Meristem Read More 

Oil Output To Increase By 35,000bpd - NNPC - The Nigerian National Petroleum Corporation says the country's crude oil production is poised for an increased output of 35,000 barrels per day. This is following the resolution of the dispute among Shell Petroleum Development Company, Belema Oil and host communities on OML 25 in Kula Kingdom, Rivers State. Source Punch Read More

 

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PROSHARE REGULATORS

CBN Issues Approvals-In-Principle To Three Payment Service Banks - In line with its objective of enhancing financial inclusion and the development of the payment system by increasing access to deposit products and payments services through a secured technology-driven environment, the Central Bank of Nigeria (CBN) has issued Approvals-in-Principle (AIP) to three Payment Service Banks (PSBs). Source CBN Read More

CBN Puts Currency In Circulation At N2.02tn - The Central Bank of Nigeria has said currency in circulation moved to N2.02tn in August from N2tn the apex bank reported in July this year.The apex bank data showed N2.24tn in February was the highest currency in circulation this year, while the figure reported in July was the lowest currency in circulation. Source Punch Read More 

 

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PROSHARE MARKETS

A Tale of Two Halves: Bullish Sentiments for Bonds Reverse Upon Bond Auction Offer Release - The Bond market started the trading session on a bullish note, as investors looked to re-invest coupon payments received this week. We noted increased demand for duration as investors traded at the long-end of the benchmark bond curve at 14.45% levels. Source Zedcrest Capital Read More 

NSEASI Erases Previous Day Loss; Inches Up By 1.00% To Halt Negative Market Sentiment - Equities market closed today on a positive note, as NSEASI appreciated by +1.00% to close at 27,681.61 points as against -0.61% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -11.93%. Source Proshare Markets Read More 

MTNN Confirms Plans To Raise Funds Via Commercial Papers - MTN Nigeria Communications PLC (MTN Nigeria) is aware of media reports that the Company is planning to raise N100billion commercial papers. Source NSE Read More 

Domestic And Foreign Portfolio Participation In Equity Trading - August 2019 - On a monthly basis, The Nigerian Stock Exchange polls trading figures from market operators on their Domestic and Foreign Portfolio Investment (FPI) flows. Source NSE Read More

 

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PROSHARE BUSINESS

Bruno Bayet Resigns As CFO Of Lafarge Africa Plc - Lafarge Africa Plc (the Company) announces that Mr. Bruno Bayet has resigned from his position as the Chief Finance Officer of the Company. Source NSE Read More 

U.S., Chinese Trade Deputies Face Off In Washington Amid Deep Differences - U.S. and Chinese deputy trade negotiators were set to resume face-to-face talks on Thursday for the first time in nearly two months as the world's two largest economies try to bridge deep policy differences and find a way out of a bitter and protracted trade war. Source Reuters Read More

SPDC Moves to Tackle Crude Oil Theft, Others - Worried by increasing rate of oil theft and vandalisation of its assets, Shell Petroleum Development Company of Nigeria Limited (SPDC) has mounted state-of-the-art high definition cameras on specialised helicopters for detection and response to crude oil spills from its facilities. Source Thisday Read More


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PROSHARE FINANCE 

Firstbank Supports Educational Institutions with Firstedu - Nigeria's premier and leading financial services provider, First Bank of Nigeria Limited, has announced its educational solution - FirstEdu - specifically designed to enhance the educational facilities in schools. The FirstEdu product includes FirstEdu loan and FirstEdu portal. Source Firstbank Read More 

 

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