Nigeria in 1min: Economic, Business and Financial Headlines - 241220

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Thursday, December 24, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @followlasg

 

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COVID-19 Health Updates

  • 23rd of December 2020: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 80,922 cases (New: 1,133)
  • Discharged:  69,274
  • Deaths: : 1,236 (New: 5)

Source: NCDC Read More


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PROSHARE ECONOMY

Rejoinder: Classism is Social Activists' Forgotten Prejudice - Ahmed Sule - I read with interest your article titled, "Classism is social activists' forgotten prejudice" published in the 2 December 2020 edition of the Financial Times. You argue that to be a white working-class male is often a marker of underprivilege. Source Ahmed Sule CFA Read More

FERMA Gets N8.1bn from FG to Repair 10 Roads - The Federal Executive Council on Wednesday approved a total of N8.1bn for the Federal Roads Maintenance Agency to carry out emergency repairs of 10 roads across the country. The Minister of Works and Housing, Babatunde Fashola, disclosed this to State House Correspondents at the end of the council's last meeting for the year presided over by the President, Major General Muhammadu Buhari (retd.). Source Punch Read More

Nigeria is at Risk of Becoming a Failed State - More than 300 Nigerian schoolboys were reunited with their families last weekend, days after they had been abducted by kidnappers from their dormitory in the country's north-west. Source Financial Times Read More

The Strategies Are Foreign, But the Corruption is American - It is like watching some chemical experiment: dye billowing through a cloud of invisible gas and lighting it up. Organized corruption, which has been rocking the globe for more than a decade, is finally appearing in plain sight. Source Foreign Affairs Read More


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PROSHARE MARKETS

Investors Gain N475.69bn as NSEASI Inches Up by 2.40%, Closes Above 38,000bpts - Equities market closed today on a positive note, as NSEASI appreciated by +2.40% to close at 38,803.74 basis points as against +1.20% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +44.56%. Source Proshare Markets Read More

BUACEMENT Notifies of Capacity Expansion - BUA Cement Plc ("BUA Cement" or the "Company") hereby notifies its esteemed shareholders and the investing public that the Company will sign a contract for the building of additional three production lines of 3 million metric tonnes per annum each this week. Source NSE Read More

Fixed Income Yield Continue to Weaken as Market Appetite Wither - The FGN bond market continued on its sluggish note, opening and trading on a very drab note. The belly of the curve weakened aggressively, sliding another 40bps D/D. We saw better offers for 2034s-2037s paper and a few trades printed for the 2035s,2036s, and 2037s maturities with the range of 7.40%-7.60%. Source Zedcrest Capital Read More

Shareholders Restate Opposition to Unclaimed Dividend Trust Fund - Shareholders under the aegis of Independent Shareholders Association of Nigeria (ISAN) have restated their objections to the plan by the federal government to set up an Unclaimed Dividend Trust Fund. Source THISDAYLIVE Read More

 

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PROSHARE BUSINESS

AfCFTA: Highlights on Current Status - As at last week, 54 countries had signed the agreement while 34 countries had deposited their instrument of ratification. Furthermore, 41 countries captured across different custom unions have submitted their tariff offers, including Nigeria. Source FBNQuest Research Read More

Apapa Gridlock: FG to Deploy 200 Security Officers - The Minister of Transportation, Rotimi Amaechi, has completed plans to deploy 200 security officers to Apapa and Tin-Can Ports to clear the gridlock on the routes. The security personnel are expected to ensure that no vehicle parks along the road. Source Punch Read More

BPE Denies Diverting N14bn Proceeds from PHCN Privatization - The Bureau of Public Enterprises on Wednesday said it never diverted any N14bn from the proceeds of the privatised Power Holding Company of Nigeria. It said this while reacting to a report alleging that the bureau diverted N14bn PHCN sales proceeds into private banks. Source Punch Read More

On the Cusp of Brexit Trade Deal, EU and UK Hash Out Final Details - Britain and the European Union were on the cusp of striking a narrow trade deal on Thursday, swerving away from a chaotic finale to the Brexit split that has dealt a blow to the 70-year attempt to forge European unity from the ruins of World War Two. Source Punch Read More 

 

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PROSHARE TECHNOLOGY   

Telcos Begin Backend Integration into NIMC Database - The mobile network operators in Nigeria have started the process of backend integration with NIMC's database to facilitate the validation and verification of digital identities as well as the enrolment processes. Source Punch Read More

 

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PROSHARE FINANCE

Federal Government Considers Travel Ban Over New Strain of COVID-19 - According to media reports, the Federal Government says it may impose a travel ban to and from certain parts of the world as a new strain of covid-19 is manifesting itself in various countries including the United Kingdom. Source CSL Research Read More 

 

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