Nigeria in 1min: Economic, Business and Financial Headlines - 220920

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Tuesday, September 22, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @NigeriaGov

 

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COVID-19 Health Updates

  • 21st of September 2020: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 57,437 cases (New: 195)
  • Discharged:  48,674
  • Deaths: : 1,100 (New: 2)

Source: NCDC Read More


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PROSHARE ECONOMY 

Embrace Concrete Roads for Durability, Dangote Urges FG - Group Executive Director, Strategy, Portfolio Development and Capital Projects, Dangote Industries Limited, Mr. Devakumar Edwin last weekend appealed to the Federal Government to embrace concrete road and use cement for the construction of its roads in Nigeria for durability purpose. Source Dangote Group Read More

Agriculture Summit Africa: AfDB President, Adesina to Deliver Keynote Address - Sterling Bank Plc, Nigeria's leading commercial bank, recently disclosed that Dr. Akinwunmi Adesina, President of the African Development Bank (AfDB), will deliver the keynote address at the Agriculture Summit Africa (ASA) 2020 holding between September 23rd and 24th, 2020. Source Sterling Bank Read More

 

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PROSHARE MARKETS

Europe, US Markets Dip as Nigeria's All Share Index Records a Marginal Uptick - Markets in Europe, America and Asia all slumped to lowest level on Monday Sept 21st, 2020. According to an article earlier published today by Market Watch, shares of Europe top banks dropped after the publication of an investigative report alleging that they kept doing business with customers suspected of money laundering and other wrongdoing. Source Proshare Research Read More

Investors Gain N929.41mln as NSEASI Inches Up Marginally by 0.01% to Open the Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by +0.01% to close at 25,574.35 basis points as against +0.16% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -4.72%. Source Proshare Market Read More

Naira Weakens As The CBN Opens Another Investigation Into Corporates' FX Dealings - It was an active day for the Apex regulator as another list of 71 additional companies under investigation by the CBN came out today. This development follows 2 of such investigations launched by the CBN in August earlier this year. Source Zedcrest Capital Read More

NSE Post Takeover: Power Moves -Demutualization and The New Board Games - Demutualization or the conversion of a broker-dominated Exchange to an investor-dominated Exchange has been a global trend to introduce transparency, better corporate governance and greater efficiency in the management of equities, commodities and fixed income Exchanges around the world. Source Proshare Research Read More

Average Yield on NT-Bills Dips 15bps to 1.6%, FGN Bond PMA Holds this Wednesday - The Nigerian Treasury Bills ("NT-Bills") secondary market witnessed another bullish run last week, due to sustained demand amid decent liquidity levels (N216.1bn long on Friday). Although the week kicked off on a calm note, as investors anticipated the NT-Bills Primary Market Auction ("PMA"). Source Afrinvest Research Read More

Stocks Down on Fresh Lockdown Worries, Banking Sell-Off; Dollar Rises - Asian shares extended losses for the second day on Tuesday while the dollar rose, as possible delays in expanded U.S. stimulus and concerns about fresh pandemic lockdowns in Europe knocked investor sentiment. Source Reuters Read More


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PROSHARE BUSINESS 

Global Banks Defy U.S. Crackdowns by Serving Oligarchs, Criminals and Terrorists - The FinCEN Files show trillions in tainted dollars flow freely through major banks, swamping a broken enforcement system. Global financial giants have moved a flood of dirty money tied to mobsters, fraudsters and corrupt regimes. Source ICIJ Read More

FG Slashes Spending on JV Oil Assets by 62% - Amid the coronavirus-induced sharp drop in its revenues, the Federal Government reduced its spending on oil and gas assets being developed through joint ventures with private firms by 61.83 per cent in July. Source Punch Read More

CBN Decries Speculation as Naira Plunges, Exchanges for 465/$ - Declining export receipts from oil and speculative activities of the Bureau De Change operators among other challenges of the COVID-19 pandemic on the economy will put more pressure on the naira. Source Punch Read More

Petrol Scarcity Looms as Tanker Drivers Halt Operations - Petrol scarcity may surface across the country as the Nigerian Association of Road Transport Owners on Monday ordered tanker drivers nationwide to halt operations beginning from Tuesday (today). Source Punch Read More

Petrol Subsidy Gulped N8.94tn in 10 Years, Says PPPRA - The Federal Government spent N8.94tn on petrol subsidy between 2006 and 2015, figures released by the Petroleum Products Pricing Regulatory Agency on Monday showed. Source Punch Read More

Kyari Seeks Separation of Roles in Oil Industry - The Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has called for a clear separation of roles between industry operators and regulators in the oil and gas sector, saying it will improve competitiveness in the industry. Source THISDAYLIVE Read More

Oil Rises as U.S. Storm Eases, But Demand Worries Linger - Oil rose in early trade on Tuesday, paring sharp overnight losses, as the latest tropical storm in the Gulf of Mexico lost strength, but worries about fuel demand persisted with flare-ups around the globe in coronavirus cases. Source Reuters Read More


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PROSHARE TECHNOLOGY 

Innovations, Disruptions Will Continue To Define Future Of Banking In Nigeria - Akinwuntan - The Managing Director, Ecobank Nigeria, Patrick Akinwuntan has reiterated that the future of Nigerian banking would continue to be shaped by innovations and technology disruptions, stressing that only financial institutions that are amenable to such transformation will remain relevant in the sector. Source Ecobank Read More

Top 5 Digital Marketing Trends in 2020 - The world has witnessed a constant change in the digital marketing landscape.  You need to be updated with your latest marketing trends to improve your brand in both reach and repetition. Source Sponsored Post by Vasya Tarasiuk Read More

 

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