Nigeria in 1min: Economic, Business and Financial Headlines - 201120

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Friday, November 20, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: Ecographics

 

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COVID-19 Health Updates

  • 19th of November 2020: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 65,839 cases (New: 146)
  • Discharged:  61,573
  • Deaths: : 1,165 (New: 2)

Source: NCDC Read More


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PROSHARE ECONOMY

#EndSARS: Federal Government Condemns CNN, DJ Switch and Local Media Houses - Being text of the press conference addressed by the Hon. Minister of Information and Culture, Alhaji Lai Mohammed, in Abuja on Thursday, 19 Nov. 2020 on the ENDSARS protest and its aftermath. Source Federal Ministry of Information and Culture Read More

Another Wave of the Sachet Economy, FMCGs Response to Beleaguered Consumers - Early July, we noted in our daily report that consumer companies operating in the non-food FMCG businesses would have to innovate and create more affordable brands as the average Nigerian consumer is expected to become poorer given the bleak macro outlook. Source CSL Research Read More

FEC Approves Finance Bill, Says No Tax Increase - The Federal Executive Council on Wednesday approved the 2020 Finance Bill for subsequent transmission to the National Assembly. The decision was taken at a meeting of the council presided over by the President, Major General Muhammadu Buhari (retd.). Source Punch Read More

Third Mainland Bridge: FG Completes First Phase Rehabilitation, Commends Citizens' Patience - The Federal Government on Thursday announced the completion of the first phase rehabilitation of the Third Mainland Bridge and a planned 18 hours total closure of the bridge. Source The Guardian Nigeria Read More


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PROSHARE MARKETS

Investors Lose N91.11bn, NSEASI Dips by -0.50% as Market Sentiment Turns Negative - Equities market closed today on a negative note, as NSEASI depreciated by -0.50% to close at 34,643.65 basis points as against +1.68% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +29.06%. Source Proshare Markets Read More

Neimeth Plc Q4 2020: Profit Rises as Industry Outlook Remains Positive - Neimeth International Pharmaceuticals Plc recorded an improvement in its financial statement in Q4 2020 when compared to previous years. It recorded its highest profit and revenue generated since Q4 2015 in Q4 2020. Source Proshare Research Read More

Pressure on Parallel Market Rate: Any Moderation in Sight? - Earlier this week, the parallel market rate depreciated to N475/$1- its weakest level in 12 weeks - as a result of the inability of the official market to satisfy the huge demand backlog by manufacturers, traders and foreign investors seeking to repatriate capital. Source United Capital Research Read More

FMDQ, NASD, and NSE Lead Conference on SME Financing via the Capital Markets - Leading Global and Nigerian Firms will hold a webinar conference that would guide Nigerian Small and Medium Enterprises (SMEs) on how to use the capital market to attract domestic capital for growth and sustainability. Source Africa Strategy Advisers Read More

Stocks Wobble After Mnuchin Pulls Plug on U.S. Stimulus - World financial markets were hit by a wave of uncertainty on Friday after U.S. Treasury Secretary Steven Mnuchin called for an end to coronavirus pandemic relief for struggling businesses, sparking a rare clash between the central bank and Treasury. Source Reuters Read More


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PROSHARE BUSINESS

LPG: DPR Okays New Guideline for Operators, Investors, Others - The Department of Petroleum Resources, DPR, said it has introduced new guidelines to accommodate more Liquefied Petroleum Gas, LPG, investors and operators across the country. Source Vanguard Read More

Afreximbank Grows Assets to $19bn - African Export-Import Bank (Afreximbank) grew its total assets to $19.33 billion as at 30 September 2020, up 34% from $14.44 billion as at the end of last year. Source Vanguard Read More 

 

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PROSHARE TECHNOLOGY   

State of Fintech Q3'20 Report: Investment and Sector Trends to Watch - The 25 mega-rounds ($100M+ deals) in the quarter accounted for 60% of total fintech funding - the highest percentage share since Q2'18 (68%), when Ant Financial raised a $14B round. Source CB Insights Read More

 

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PROSHARE FINANCE

Abdullah AbdulRasaq to Speak on Opportunities for Islamic Microfinancing in Agriculture - Abdullah AbdulRasaq was born in Ilorin west local government of KWARA State, he started his western and Islamic Education in Ilorin, he proceeded to Bayero university kano for his Diploma in Shari'ah and Common Law. Source WebTV Read More 

 

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