Nigeria in 1min: Economic, Business and Financial Headlines - 250919

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Wednesday, September 25, 2019 / 07:00 AM / By News Aggregator / Header Image Credit: WebTV

 

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PROSHARE ECONOMY

Manufacturing PMI Stands at 57.7% in September 2019 from 57.9% in August 2019 - The September 2019 PMI survey was conducted by the Statistics Department of the Central Bank of Nigeria during the period September 9-13, 2019. The respondents were purchasing and supply executives of manufacturing and non-manufacturing organizations in all 36 states in Nigeria and the Federal Capital Territory (FCT). Source CBN Read More

Tax Appeal Tribunal Rules In Favour Of Taxpayers In Two Successive Landmark Judgment- The Tax Appeal Tribunal, South East Zone, sitting in Enugu ("TAT" or the "Tribunal"), recently held that tax audits conducted by relevant tax authorities in violation of statutorily laid down procedures are not binding on taxpayers. Source Banwo & Ighodalo Read More

Brent Crude Price Drops To $63.13/Barrel - Brent crude oil recorded a marginal drop in price on Tuesday, as it shed $1.64 to close at $63.13 per barrel. Figures from international crude prices showed that the commodity traded for $64.64 per barrel the preceding day. Source Punch Read More

World Bank, IFC Agree To Support Nigeria's Devt - The World Bank Group and the International Finance Corporation (IFC), have promised to continue to support Nigeria in bridging its infrastructure gap. The two organisations gave the commitment in a statement issued by the World Bank's Senior Communications Office in Nigeria yesterday in Abuja. Source TheNation Read More

FG Injects N1.5trn In Power Sector In 2yrs - Vice President Yemi Osinbajo has said the federal government has injected about N1.5 trillion intervention fund into the power sector in the last two years, even as frequent outage persists across the country. Source Dailytrust Read More 

 

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PROSHARE REGULATORS

NSE Proposes Amendment To Rules On Board And General Meetings of Issuers - The following proposed Rule Amendments, are exposed for stakeholders' comments. Participation is requested by way of reviewing the proposed Rule Amendments, and providing comments thereon. Source NSE Read More 

 

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PROSHARE MARKETS

FX Food Restrictions: CBI Calls on CBN To Explore Broad Stakeholder Engagement - This was the major resolution at the Regulatory Conversations 4.0 organized by the Convention on Business Integrity, CBI in collaboration with Action Aid UK, Proshare Nigeria, Businessday, Nigeria Economic Summit Group, NESG and Lagos Chamber of Commerce and Industry, LCCI. Source Proshare Read More

Market Sentiment Remains Negative As NSEASI Dips Further By -1.08% - Equities market closed today on a negative note, as NSEASI depreciated by -1.08% to close at 27,352.24 points as against -0.17% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -12.98%. Source Proshare Read More  

Airtel Africa Notifies Of Dealing In Shares By A Person Discharging Managerial Responsibilities - Airtel Africa Plc has notified and issued public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulation. Source NSE Read More 

CBN Warns Banks Against Excessive Treasury Bill Investments - The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, on Tuesday warned Deposit Money Banks against excessive investment in fixed securities to the detriment of real sector financing. Source Punch Read More 

FMDQ Boss Lists Benefits of Depository Subsidiary to Financial Markets - The Managing Director/Chief Executive Officer, FMDQ Securities Exchange Plc, Mr. Bola Onadele.Koko has said that an effective and fully developed securities depository system is essential for maintaining and enhancing market efficiency. Source Thisday Read More

 

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PROSHARE BUSINESS

Banking Industry Loans Top N16 Trillion In Third Quarter - The amount, which represented N830 billion increase from N15.4 trillion recorded in June 2019, may have been impacted by the regulatory directive to all banks to increase their Lending-to-Deposit Ratio to 60 per cent.While the members of the Monetary Policy Committee (MPC) noted the improvements in the financial soundness indicators of banks, they urged CBN to sustain its regulatory surveillance to ensure continued financial system stability. Source Guardian Read More

Dangote, Bill Gates, Mo Ibrahim Raise Concerns over Climate Change - Renowned philanthropists, Bill Gates, Mo Ibrahim and Aliko Dangote yesterday at the Africa Centre, expressed concern over the effect of climate change and the stereotypes on Africa that have hindered business opportunities in the continent. Source Thisday Read More

Trump's China Trade Rhetoric Turns Harsh At U.N., Says Won't Take 'Bad Deal' - Four days after deputy U.S. and Chinese negotiators held inconclusive talks in Washington, Trump's remarks were anything but conciliatory and emphasized the need to correct structural economic abuses at the heart of the countries' nearly 15-month trade war. Source Reuters Read More


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PROSHARE FINANCE

Declining Credit Evidences Lethargy In The Real Estate Sector - According to data from the Central Bank of Nigeria (CBN), Deposit Money Banks' (DMBs) credit to the real estate sector maintained a downward trend in Q2 2019, the 7th consecutive quarterly decline since Q3 2017. Source CSL Research Read More

 

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