Nigeria in 1min: Economic, Business and Financial Headlines - 230720

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Thursday, July 23, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: Ecobank Group/Ecographics

 

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COVID-19 Health Updates

  • July 22nd 2020: Nigeria COVID-19 Status in 35 states and the Federal Capital Territory
  • Confirmed: 38344 cases (New: 543)
  • Discharged:  15815
  • Deaths: 813: (New 8)

Source: NCDC Read More


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PROSHARE ECONOMY 

Implications of COVID-19 on Nigeria's Employment Generation - Companies around the world are adopting a more cautious approach to their operations as they struggle to stay afloat, despite the prevailing economic realities brought on by the coronavirus pandemic. Source FDC Read More

Resilience of Workers' Remittances - From the CBN's latest Quarterly Statistical Bulletin we see that net current transfers in the balance of payments (BoP) declined by 19.5% y/y to US$6.2bn in Q1 2020, and by 12.0% q/q. For net workers' remittances, the falls were 5.5% y/y and 5.1% q/q. Source FBNQuest Read More

Segun Adaju To Speak On Renewable Energy And Nigeria's Economic Sustainability - SEGUN ADAJU is the CEO, Renewable Energy Association, a leading rooftop solar company in Nigeria that is driving a solar revolution with its finance and leasing schemes through the rent-to-own business model. Source WebTV Read More

Ecobank Assures Farmers of Seamless Processes As They Access Agric Loans - Ecobank Nigeria has assured farmers who are beneficiaries of the Anchor Borrowers programmes for the 2020 wet season and members of the Maize Growers, Processors and Marketers Association of Nigeria (MAGPAMAN), of a seamless account opening and loan processing. Source NSE Read More

Federal Govt Records N1.46tn Revenue Deficit in Q1 - Gross federally-collected revenue fell by 36 per cent or N1.46tn below the quarterly budget estimate in the first quarter of 2020. The Central Bank of Nigeria disclosed this in its quarterly report titled "Federation account operations," obtained by our correspondent on Tuesday. Source Punch Read More

774,000 jobs: Keyamo Will Supervise Recruitment, Labour Ministry Replies National Assembly - The Ministry of Labour, Employment and Productivity on Wednesday rejected resolutions of both chambers of the National Assembly calling for the removal of the Minister of State, Festus Keyamo, from supervising recruitment of 774,000 Nigerians for the Special Public Works programme. Source Punch Read More

Senate Gives Buhari September Deadline to Present 2021 Budget - The President of the Senate, Ahmad Lawan, has asked the Major General Muhammadu Buhari (retd)-led federal executive to ensure the submission of the 2021 national budget before the end of September this year. Source Punch Read More


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PROSHARE MARKETS 

Investors Lose N477.29mln as NSEASI Closes Flat Amid Positive Market Turnover - Equities market closed today on a flat note, as NSEASI depreciated by -0.00% to close at 24,173.53 basis points as against -0.39% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -9.94%. Source Proshare Markets Read More

Book Review - Financial Intermediation: Operations and Practice - Being a book review by Mr. Bola Ajomale, CEO NASD delivered at the virtual book launch of "the capital market guide book titled 'FINANCIAL INTERMEDIATION: Operations and Practice' authored by Seye Adetunmbi, the Chief Responsibility Officer of Value Investing Limited and the convener of Capital Market Roundtable in Nigeria; on Tuesday, July 21, 2020. Source Bola Ajomale Read More


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PROSHARE BUSINESS

FG Approves Launch of N15tn Infraco Plc - As part of efforts to stimulate infrastructural development across the country, the Central Bank of Nigeria (CBN) yesterday revealed that the federal government has approved the take-off of the establishment of a N15 trillion infrastructure development company (Infraco). Source THISDAYLIVE Read More

Third Mainland Bridge: Local Manufacturers Raise Concern About Alternative Routes - Local manufacturers, especially those in the Apapa zone, have expressed concerns about challenges that the closure of the Third Mainland Bridge would bring to their operations. Source Guardian Nigeria Read More

Asian Shares Drop as China Consulate Closure Fans Sino-U.S. Tensions - Asian shares slipped on Thursday as investors' worries over rising tensions between Washington and Beijing overcame hopes for more stimulus, after the United Sates ordered the closure of China's consulate in Houston amid accusations of spying. Source Reuters Read More

Battered U.S. Dollar 'Hanging by A Thread' As Coronavirus Cases Grow - A steady decline in the dollar has accelerated in recent weeks, as a resurgent coronavirus outbreak in the United States and improving economic prospects abroad sour investors on the currency. Source Reuters Read More

  

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PROSHARE TECHNOLOGY   

Minister Okays New Guidelines for Courier, Logistics Services - The Minister of Communications and Digital Economy, Dr Isa Pantami, has approved new guidelines for courier and logistics operations in the country. Source Punch Read More

Danbatta Pledges Improved Telecoms Services - The Executive Vice Chairman (EVC) and Chief Executive Officer (CEO) of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, has assured Nigerians of improved telecoms services. Source THISDAYLIVE Read More


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