Nigeria in 1min: Economic, Business and Financial Headlines - 191119


Tuesday, November 19, 2019 / 06:50 AM / By News Aggregator / Header Image Credit: @UBAGroup


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Headline Inflation Increases By 11.61% YoY In October 2019; 0.36% Higher Than September 2019 Rate - The consumer price index, (CPI) which measures inflation rose by 11.61 percent (year-on-year) in October 2019. This is 0.36 percentage points higher than the rate recorded in September 2019 (11.24 percent). Source NBS Read More 

Consumers May Frontload Festive Purchases On Border Concerns - According to the National Bureau of Statistics (NBS), headline inflation rose by 36bps to a seventeen-month high of 11.61% YoY in October 2019. Driven by the paciest inflation acceleration in 36 months, the current reading is also ahead of both Bloomberg consensus of 11.20% YoY and our forecast of 11.40% YoY. Source CardinalStone Read More 

Average Prices Of PMS, AGO, HHK and Cooking Gas - October 2019 - Average price paid by consumers for premium motor spirit (petrol) decreased by -1.19% year-on-year and month-on-month by -0.04 to N145.48 in October 2019 from N145.53 in September 2019. Source NBS Read More 

Experts Blame Border Closure As Inflation Hits 11.61% - The National Bureau of Statistics on Monday released the Consumer Price Index, which measures inflation, with the index rising to 11.61 per cent in October. The NBS in its report said the 11.61 per cent was 0.36 percentage points higher than the 11.24 per cent recorded in September. Source Punch Read More


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The Value Of Inflows From The FPIs - Fx outflows of US$6.15bn through the CBN in August were the highest since September 2018. The commentary in its latest Monthly Report highlights a 32.5% increase in interbank utilization. Source FBNQuest Research Read More 

The Bulls Take Center Stage as Average NT-Bills Yield Dips to 10.9% WoW - Last week, the Nigerian Treasury Bills ("NT-Bills") secondary market activity reversed its bearish stance from the previous week as a result of the sustained demand by local investors. Source Afrinvest Research Read More 

Investors Lose N188.76bn As NSEASI Dips By -0.60% To Open The Week Negative  - Equities market closed today on a negative note, as NSEASI depreciated by -0.60% to close at 26,691.09 points as against +0.03% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -15.08%. Source Proshare Markets Read More 

DMO Appoints 13 Agent Banks For N150bn FGN Bonds - As Debt Management Office (DMO) set to auction N150 billion in FGN Bonds tomorrow, eight banks have been  appointed as agents to interface with its prospective investors. Source Sun Read More 


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SEPLAT Announces Retirement of Mr. Avuru; Appoints Roger Brown As New CEO - Seplat Petroleum Development Company PLC ("SEPLAT") has announced that her pioneer Managing Director and later CEO, Mr. Austin Avuru will be retiring in July 2020 after 10 years of leading the company. Source NSE Read More 

10 Banks Rake N578bn Commission In 9 Months - Ecobank Transnational Incorporated, Zenith Bank Plc and United Bank for Africa Plc led seven other banks in N577.9bn commission generated from customers' transactions in the first nine months of 2019. This is an increase of 20.4 per cent over the N479.98bn reported by the same banks in the similar period of 2018. Source Punch Read More 

AMCON Takes Possession of Ex-minister's Assets over N1bn Debt - The Asset Management Corporation of Nigeria (AMCON) has taken over some assets belonging to a former Minister of State for Defence, Demola Seriki for debts amounting to N1 billion. Source Thisday Read More 

Domestic Flights Down By 409 In October - Domestic flight operations witnessed a marginal decline of 500 flights in October with 5,291 flights operated by eight airlines. At least 5,700 flights operated in September 2019. Source Dailytrust Read More


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Asian Shares Mixed As Doubts Grow On Elusive U.S.-China Trade Deal - Asian share markets were mixed on Tuesday, as another day awaiting clearer news on the progress of U.S.-China trade negotiations left investors bereft of trading motivation. Source Reuters Read More 

China to Supply Three Abuja Light Rail Coaches Mid 2020 - Federal Capital Territory Administration (FCTA) would in the middle of next year deliver three railway coaches from China for the operation of Lot 1A and 3 of the Abuja Light Rail service. Source Thisday Read More 

LCCI to Host Dialogue on Agro Devt -  The Lagos Chamber of Commerce and Industry (LCCI), will hold a symposium on how to develop the agriculture Sector in Nigeria. The theme of the conference is, "Making Agribusiness Bankable: Lenders and Investors Expectations." The event is to hold on November 20, 2019, in Lagos.Source Thisday Read More


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NIMC - Court Stops Issuing of National Identity Cards as Chams and CCL seek N114bn Damages - Mastercard and her agents have been told to stop issuing the National Identity card by Justice R.M. Aikawa of the Federal High Court in Lagos. Source Techeconomy Read More 

Financial Inclusion In Africa: PalmPay Raises $40m From TECNO Mobile - PalmPay, an Africa-focused mobile payment start-up, recently announced a $40million funding round led by  leading mobile phone brand TECNO mobile to advance financial inclusion across the continent. Source Palmpay Read More


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