Nigeria in 1min: Economic, Business and Financial Headlines - 230921

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Thursday, September 23, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Aso Rock Villa

 

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 COVID-19 Health Updates

  • 22nd of September 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 203,081 cases (New: 377)
  • Discharged: 191,601
  • Deaths: 2,666 (New: 2)

Source: NCDC Read More

 

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PROSHARE ECONOMY

Nigeria Raises USD4bn through Eurobonds; 30-Year Eurobonds Raised at 8.25% - The Debt Management Office (DMO) published a press release announcing that Nigeria has raised the sum of USD4bn through Eurobonds which were issued in three tranches with the 30years long term dollar bonds having a rate of 8.25%. Source DMO Read More

Does The Federal Government Have the Constitutional Powers to Legislate on VAT? - The Federal High Court ("FHC" or "the Court"), recently delivered judgment in a case instituted in the Port Harcourt Division of the Court by the Attorney General of Rivers State against the Federal Inland Revenue Service ("FIRS") and the Attorney-General of the Federation ("AGF"), respectively. By Ken, Abimbola, Azeezah, Oluwatoba & Emmanuel of Banwo & Ighodalo Read More

Contractors Begin Preliminary Work on $1.9bn Kano-Niger Republic Rail Line - Allott Consulting Nigeria Ltd on Tuesday announced the commencement of an environmental and social impact assessment of the proposed 2,854 kilometres Kano to Maradi Rail track project estimated to cost $1.9bn. Source Punch Read More

Senate Passes 2022-2024 MTEF/FSP - The Senate on Wednesday passed the 2022-2024 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) ahead of the expected presentation of the 2022 Appropriations bill to the National Assembly by President Muhammadu Buhari. Source THISDAYLIVE Read More

FAAC Shares N697bn - The Federation Accounts Allocation Committee (FAAC) has shared a total of N696.965 billion August 2021 Federation Account Revenue to the Federal, States and Local Governments. Source Vanguard Read More


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PROSHARE MARKETS

Investors Lose N16.97bn as NSEASI Dips Further by -0.08% Amid Positive Market Breadth - Equities market closed today on a negative note, as NSEASI depreciated by -0.05% to close at 38,852.69 basis points as against -0.08% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -3.52%. Source Proshare Markets Read More

MTN Nigeria to Launch N90m Series 2 Bonds; Awaits Regulatory Approval - MTN Nigeria Communications Plc (MTN Nigeria) advises the Nigerian Exchange Limited (NGX) and the investing public that an application has been submitted to the Securities & Exchange Commission (SEC), for the clearance of transaction documents for MTN Nigeria's proposed bond issuance valued at N89,999,000,000. Source NGX Read More 

 

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PROSHARE BUSINESS

Adeduntan's Need for New Glasses: Confronting the Legacy Question - FBN's new course must be clear-eyed and represent a significant break from the past. The bank has bobbed around like a beer bottle with no direction in the past two decades. Source Proshare Research Read More

Renaissance Capital Strengthens Its Africa Research Team And Enhances Foothold In Fintech - Renaissance Capital, a leading emerging and frontier markets investment bank, is pleased to announce two new hires in its Africa tech/fintech and banks research and venture-investing teams. Source Renaissance Capital Read More 

Five Banks Fined N1.4bn for Forex Infractions, Others - Five top banks in Nigeria paid a total of N1.4bn as penalties to financial regulatory bodies such as the Central Bank of Nigeria, Security Exchange Council and Financial Reporting Council of Nigeria, in the first half of the year. Source Punch Read More

Zainab Ahmed: FG to Promote Digital Economy, Inclusive Development - Zainab Ahmed, minister of finance, budget and national planning, says the federal government would promote industrial digital economy, inclusive and economic development. Source TheCable Read More

Nigeria Seeks Upward Review of OPEC Quota - The federal government has opened discussion with the Organisation of Petroleum Exporting Countries (OPEC), seeking an increase in its oil production quota to about 2.2 million barrels per day. Source LeadershipNG Read More


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PROSHARE TECHNOLOGY   

Proshare's 2021 Online Trade Ranking Survey - 7th Edition Now Live! - Ahead of the launch of the 7th Edition of the Nigerian Online Trade Ranking Report, Proshare has commenced the process which includes a customer survey and operators survey. Source Proshare Research Read More

CBN e-Naira Series 1: Examining the Positives - In 2017, the Central Bank of Nigeria (CBN) made public its vision to digitise the naira, in the light of rising digital payments and the emergence of a digital economy in Nigeria. Source United Capital Research Read More

FITC, NIBSS Hosts ThinkNnovation Conference on Post-Covid Cybersecurity Risks - Cybersecurity threats to organizations heightened in the Covid-19 era due to the unprecedented rise in digitization across all sectors of the economy, including the financial services sector. Source FITC Read More

Venture Capitals Invested $3.9m per day into African startups in 2020 - 2020 was bound to be a different story: for economies, industries, businesses, and communities around the world. World Bank findings show a 4.3% contraction in the global economy, and Foreign Direct Investment into Africa declined by an estimated 18% in 2020. Source Africa Arena Read More

 

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PROSHARE FINANCE

DealHQ Partners Announces the Launch of the Law Undergraduate Essay Competition 2021 - DealHQ Partners, an Africa Focused deal advisory/boutique commercial law firm operating out of Lagos, Nigeria has announced the launch of its annual Law Undergraduate Essay Competition. Source DealHQ Partners Read More 


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