Nigeria in 1min: Economic, Business and Financial Headlines - 250321

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Thursday, March 25, 2021 / 5:31 AM / By News Aggregator / Header Image Credit: Twitter; @jidesanwoolu


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COVID-19 Health Updates 

  • 24th of March 2021: Nigeria COVID19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 162,178 cases (New: 96)
  • Discharged:  148,726
  • Deaths: : 2031 (New: 0)

Source: NCDC Read More

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PROSHARE ECONOMY

MPC Maintains Status Quo as Stagflation Remains Unbridled - For once in recent times local analysts had made a right call on the Central Bank of Nigeria's (CBN's) expected monetary policy position; they rightly called the CBN's unlikely policy review in March 2021. Source By Adesola Borokinni, Proshare Research Read More

Average Fare Paid by Commuters for Intercity Journey Increased by 1.13% MoM in February 2021 - NBS - The Transport fare Watch report for February 2021 covers the following categories namely bus journey within the city per drop constant route; bus journey intercity, state route, charge per person; air fare charge for specified routes single journey; journey by motorcycle (Okada) per drop; and water way passenger transport. Source NBS Read More

Fitch's Sovereign Rating on Nigeria on Hold - Fitch last week affirmed its 'B' sovereign rating with a stable outlook on the FGN's long-term, foreign currency obligations. The rating is one notch above S&P's. A ratings review provides an agency with good access to policymakers and official data, and this is no exception. Source Fitch Ratings Read More

FG Justifies $100 Charges, Others Imposed on Nigerians in Diaspora - The Federal Government has said charges and levies imposed on Nigerians in diaspora at the foreign missions are due to paucity of funds to run operations. Source Punch Read More

Fed Govt Okays N1.134tr for 12 Roads - The Federal Government on Tuesday said it has voted N1,134,690,048,000.76  as the initial capital for the construction of 12 roads. Minister of Works and Housing, Mr. Babatunde Fashola, who made this known, said the roads were  chosen to ensure that the six geopolitical zones in the country benefited from it. Source The Nation Read More

 

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PROSHARE REGULATORS 

IOSCO Statement on Going Concern Assessments and Disclosures During the COVID-19 Pandemic - The International Organization of Securities Commissions (IOSCO) is the leading international policy forum for securities regulators and is recognized as the global standard-setter for securities regulation. Source IOSCO Read More

SEC Nigeria Re-introduces Periodic Renewal of Registration by CMOs, Set April 30th Deadline for 2021 - The Securities and Exchange Commission (SEC) hereby notifies the general public and Capital Market Operators (CMOs) in particular, of the reintroduction of the periodic renewal of registration by Capital Market Operators. Source SEC Nigeria Read More

 

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PROSHARE MARKETS

Investors Gain N199.24bn as NSEASI Inches Up by 0.98%, Closes Above 39,000bpts - Equities market closed today on a positive note, as NSEASI appreciated by +0.98% to close at 39,085.78 basis points as against -0.05% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -2.94%. Source Proshare Markets Read More

MPC Meeting: CBN Maintains Monetary Stance, As Voting Leans Hawkish - The FGN bond market traded on a very calm note, although with a bearish tilt as market participants anticipated the outcome of the MPC meeting that was concluded today. Source Zedcrest Capital Read More

GameStop Tumbles 34% as Reddit Darling Mulls Share Sale - Shares of Reddit-favorite GameStop Corp slumped 34% on Wednesday, a day after the videogame retailer said it might cash in on a meteoric rise in its share price to fund its e-commerce expansion. Source Reuters Read More

S&P 500 Slips as Tech Stocks Pull Market Lower - The S&P 500 closed lower on Wednesday as optimism about the economic recovery by Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen was unable to halt a decline in technology shares for a second straight day. Source Reuters Read More


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PROSHARE BUSINESS

Africa Finance Ministers Unhappy with Poor Access to Covid-19 Vaccines - In a joint communique on the Special Drawing Rights (SDR) for low-income and middle-income countries, the ministers said their major concern is the health of Africa's population. "We are disappointed by slowness in accessing vaccines and funding for vaccine equity," the ministers said in their joint communique. Source Africa Business Insider Read More 

 

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PROSHARE TECHNOLOGY  

'Banks, Telcos Collaboration Key in e-Fraud Fight' - There is a need for banks and telecommunication companies (telcos) to strengthen their collaboration in the fight against e-fraud given the rise in the use of mobile phones for banking transactions, the Chairman, Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN), Yinka Tiamiyu has said. Source THISDAYLIVE Read More


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