Nigeria in 1min: Economic, Business and Financial Headlines - 250621

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Friday, June 25, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Dangote


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COVID-19 Health Updates

  • 24th of June 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 167,401 cases (New: 26)
  • Discharged: 163,933
  • Deaths: : 2,118 (New: 0)

Source: NCDC Read More


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PROSHARE ECONOMY

Nigerian Economist Ayo Teriba Advises FG to Liberalize the Services Sector - The Federal Government of Nigeria has been tasked to liberalize the country's service sector to enable it attract large scale foreign direct investments (FDIs). Dr Ayo Teriba, an economist and public policy specialist, made this point at the Economic Associates One-Day quarterly conference. Source Ottoabasi Abasiekong Read More

We're Investing $1bn on Lagos-Ibadan Expressway, Two Others - FG - The Federal Government on Thursday said it was investing $1bn on the construction of the Lagos-Ibadan Expressway, Second Niger Bridge, and Abuja-Kaduna-Zaria-Kano Expressway. Source Punch Read More

AfDB Unveils 10,000MW Solar-Powered Plan for 250 million Africans - The President of the African Development Bank Group, Dr Akinwumi Adesina, said the bank was working on a Desert-to-Power Initiative, which would lead to the development of 10,000MW of solar power in the Sahel of Africa, providing electricity to 250 million people. Source Punch Read More


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PROSHARE REGULATORS

SEC Proposes Amendments to its Rules on Custody and Transfer of Unclaimed Monies, NIPF - The Securities and Exchange Commission (SEC) has issued exposure draft and proposed sundry amendments to the rules and regulations of the commission on Custody and Transfer of Unclaimed Monies and National Investors Protection Fund (NIPF). Source SEC Nigeria Read More

 

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PROSHARE MARKETS

Investors Gain N78.12bn as NSEASI Inches Up by 0.40%, Erases Previous Day Loss - Equities market closed today on a positive note, as NSEASI appreciated by +0.40% to close at 37,954.35 basis points as against -0.11% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -5.75%. Source Proshare Markets Read More

Digital Transformation, Key to Growth of Nigerian's Capital Market - NGX CEO - The increase in data collection and analysis recorded in the global markets presents an opportunity for Nigeria's capital market to achieve key sustainable development targets across other sectors of the economy via digital transformation. Source NGX Read More

DMO Sells N330bn Worth of FGN Bonds on the Back of a Strong FGN Bond Auction Demand - The FGN bonds market held its breath in today's session with yields across the benchmark curve remaining mostly unchanged from the previous day levels as traders anticipated the outcome of the FGN Bond primary market auction. Source Zedcrest Capital Read More

June 2021 FGN Bond Auction Review: Rates Party Coming to a Close? - Yesterday, the Debt Management Office (DMO) conducted an FGN bond Primary Market Auction (PMA) with the following instruments on offer; 16.2884% FGN MAR 2027 N50.0bn, 12.5000% FGN MAR 2035 N50.0bn and 12.9800% FGN MAR 2050 N50.0bn. Source By United Capital Research Read More 

 

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PROSHARE BUSINESS

AMCON Takes Over Assets of Serving Senator over N600m Debt - The Asset Management Corporation of Nigeria has taken over assets belonging to Alhaji Buhari Abdulfatai, Chief Promoter of Abadat Ventures Limited, over an indebtedness of almost N600m. Source By Victoria Onu for ThePoint Read More

The Customer is King in Venture Capital: Truth or Myth - Customer experience (CX) is not something you'll hear often in Venture Capital circles - whether in Nigeria or around the world. The nature of the VC business model fosters a perception of VCs being at the top of the food chain. Source By Titilayo Oladimeji & Oluwatoyin Ashipa, trium Read More

Making Great Strides in Expansion Towards Unlocking Africa's Business Growth Potentials - AfricaWorks is a leading pan-African company making giant strides in unlocking the growth of Africa's business potential. Founded in 2019, AfricaWorks offers flexible and fully functional office solutions to Multinationals, mid-size corporations, SMEs and startups in key economic hubs across the continent such as Lagos, Accra, Cape Town, Nairobi and Abidjan. Source AfricaWorks Read More

Dangote Receives Highest Civilian Honour in Cameroon - President/Chief Executive of Dangote Industries Limited, Aliko Dangote has received the highest civilian honour in Cameroon - the Commander of the National Order of Valour - from the President of the Republic, Paul Biya. Source Dangote Read More

Inflation, Forex Scarcity Hitting Businesses Hard, Says LCCI - Inflationary pressures and foreign exchange scarcity has significantly impacted the operating costs of businesses in Nigeria, the Lagos Chamber of Commerce and Industry has said. Source Punch Read More

Total Targets More Renewable Electricity, LNG Production by 2030 - Total Companies in Nigeria has unveiled its corporate vision in line with the change of the Total Group to TotalEnergies. The organisation aims to produce more renewable electricity and Liquefied Natural Gas (LNG) by 2030. Source THISDAYLIVE Read More

FG Seeks Amendment of NEPZA Act to Ease Operations at FTZs - The Federal Government has called for the amendment of the Nigeria Export Processing Zones Authority (NEPZA) Act to address issues affecting seamless operations of Free Trade Zones (FTZs) across the country. Source The Guardian Nigeria Read More


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PROSHARE TECHNOLOGY   

ITF Set To Embark On Mass Production Of Mobile Phone - In a statement issued yesterday in Jos, Plateau State, signed by the director of public affairs, Mrs. Suleyol Fred Chagu, the fund said its director general, Sir Joseph Ari, in a bid to commence the mass production and launch of the moblie phone into the market,  has initiated processes for the procurement and installation of a production line specially dedicated for that purpose at the ITF model skills training centre (MSTC), Abuja. Source LeadershipNG Read More

 

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PROSHARE MSME

Ecobank Celebrates MSME Week; Propose Cutting Edge Solutions - The Managing Director, Ecobank Nigeria, Patrick Akinwuntan has restated the Bank's unwavering commitment to supporting and sustaining the development of Micro, Small and Medium Enterprises (MSMEs) in all sectors of the economy. Source Ecobank Read More


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