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Wednesday, January 26, 2022 / 6:00 AM / By News Aggregator / Header
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PROSHARE ECONOMY
Momentum Builds for Oil Prices at US$100 a Barrel
- The
global oil prices hit 7-year highs last week as Brent crude futures briefly
touched US$89 per barrel. In contrast, US West Texas Intermediate (WTI) crude
futures hovered around US$85 per barrel on the expectation of supply disruption
following a series of fatal attacks in the Middle East and geopolitical tension
in Eastern Europe. Source Tosin Ige, Proshare Research Read More
MPC Holds All Policy Parameters at the End of
January 2022 MPC Meeting - The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has
concluded its two-day meeting in January 2022. This marks the first MPC meeting
for the year 2022. At the end of the meeting, the committee resolved to hold
the monetary policy rate and all other policy parameters constant. Source
Proshare Research Read More
IMF Retains 2022 Growth Forecast for Nigeria at 2.7% -
The International Monetary Fund has retained its 2022 growth forecast for
Nigeria at 2.7 per cent and increased 2023 projection by 0.1 per cent to 2.7
per cent. Source Punch Read
More
Fuel Subsidy: NLC Suspends Planned Nationwide Protests -
The Nigeria Labour Congress has suspended its nationwide protests slated for
Thursday 27 and February 2. The congress took the decision at its National
Executive Council meeting held virtually on Tuesday. Source Punch Read
More
FUEL SUBSIDY: NACCIMA, LCCI Propose Phased Removal, Wider
consultations - Against the backdrop of the announcement by the federal
government to postpone the planned removal of fuel subsidy, the Nigerian
Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA)
and the Lagos Chamber of Commerce and Industry (LCCI) have proposed phased
removal of the subsidy, to be accompanied with wider consultations with major
stakeholders. Source Vanguard Read
More
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PROSHARE MARKETS
Investors Gain N6.06bn as NGXASI Inches up Marginally by
0.02%; YTD Return Hits 7.55% - Equities market closed on a positive note, as NGXASI
appreciated by +0.02% to close at 45,939.51 basis points as against -0.06%
depreciation recorded previously. Its Year-to-Date (YTD) return currently
stands at +7.55%. Source Proshare Markets Read More
Why the FG Should Use the Nigerian Capital Market to Support
Economic Growth - The Federal Government should explore more capital market ways to support
national economic development. Mr. Olatunde Amolegbe, FCIS, the President of
the Chartered Institute of Stockbrokers, stressed this point while providing
his perspective on "How the Capital Market Can Support Nigeria's Economic
Growth". Source Ottoabasi Abasiekong for WebTV Read More
Emerging Africa Group Launches Maiden African Capital Markets
Report - Emerging Africa Group a financial services group as part of its
commitment to positioning the African region as a key global investment origin
and destination launched the maiden of its "Africa Capital Markets
Report". Source Ottoabasi Abasiekong for WebTV Read More
Parthian Securities to Organise Free Investment Clinic on The
Nigerian Equity Market - Parthian Securities Limited is set to organise the maiden edition of its
"Bears & Bulls Series" themed "The Nigerian Equity Market:
2021 Review; 2022 Outlook & Stocks to Watch". Source Parthian
Securities Read More
Click Here to Read More News on Markets
PROSHARE BUSINESS
Launch of the PAPSS - A New Dawn for Cross Border Financial Transactions in Africa - The first step in ensuring that transactions can be carried out, is for the central bank of a country to connect to PAPSS. The system provides for only the central banks of Afrexim member states to connect to it so that they can assist PAPSS with settling transactions as a national settlement agent. Source Davidson Oturu of AELEX Read More
Autogas: FG to Convert 200,000 Vehicles, Plans 580
Refueling Centres - The Federal Government on Monday met with oil marketers
in the downstream sector to perfect plans for the full deployment of autogas in
filling stations and the conversion of 200,000 commercial vehicles to run on
gas this year. Source
Punch Read
More
ICRC Bemoans Slow Pace of Work at Inland Container Depots
- The acting Director General, Infrastructure Concession Regulatory
Commission (ICRC), Mr. Michael Ohiani has lamented that 16 years after the
concession contracts for the six Inland Container Depots (ICDs) located in each
of the geo-political zones in the country were signed, some of the assets are
still at 5 per cent completion. Source THISDAYLIVE Read
More
NCAA Reads Riot Act on Predatory Pricing, Unhealthy
Rivalry Among Airlines - The Nigerian Civil Aviation Authority has read a
riot act on alleged predatory pricing in local airfares and unhealthy practices
that lower operators' chances of survival and viability of air travel services.
Source Guardian Nigeria Read
More
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PROSHARE TECHNOLOGY
'Nigeria accounts for 82% of Africa's ICT market' -
Nigeria currently accounts for 82 per cent of Africa's information and
communications technology (ICT) market. This was made known by the Executive
Vice Chairman, Nigerian Communications Commission (NCC), Prof. Umar Danbatta,
at the 10th and 11th combined Convocation Lecture of the Fountain University,
Osogbo, Osun State. Source Guardian Nigeria Read
More
Afreximbank to Support Nigeria's Digital Switch Over
Project - The African Export-Import Bank (Afreximbank) says it will put up
a financial mechanism to ensure the completion of Nigeria's Digital Switch Over
(DSO) project before the end of the year. Source TheCable Read
More
Ditch Bitcoin: IMF Urges El Salvador to Rethink Crypto -
The International Monetary Fund's board urged El Salvador to strip Bitcoin of
its status as legal currency due to its large risks, highlighting a major
obstacle for the nation's efforts to get a loan from the institution. Source
Bloomberg Read
More
Twitter Sees Record Number of Govt Demands to Remove
Content - Twitter said governments around the world made requests to remove
content from a record number of user accounts between January and June last
year, in data to be released by the social media company on Tuesday. Source
Reuters Read
More
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More News on Technology
PROSHARE FINANCE
Growth of HealthTech in Nigeria - Analysing the Online Pharmaceutical Regulations 2021 - With the pandemic and its associated developments, the ability to timeously and efficiently place orders for drugs and medicine to meet the needs of patients and consumers has become crucial and online-based pharmaceutical service providers have created a niche for themselves by filling this yearning gap. Source Tubosiya Ibama of AELEX Read More
Avoid Loan Sharks, Leverage on Microfinance Banks,
Emefiele tells Nigerians - Godwin Emefiele, governor of the Central Bank of
Nigeria (CBN), says Nigerians should beware of illegal money lenders, known as
loan sharks. Emefiele said this on Tuesday at the end monetary policy committee
meeting in Abuja. Source TheCable Read
More
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