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Tuesday, May 26, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: @NCDCgov
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PROSHARE ECONOMY
Nigeria's GDP Grew By 1.87% YoY in Real Terms in Q1 2020 - In the first quarter of 2020, Nigeria's Gross Domestic Product (GDP) grew by 1.87%(year-on-year) in real terms. This performance was recorded against the backdrop of significant global disruptions resulting from the COVID-19 public health crisis, a sharp fall in oil prices and restricted international trade. Source NBS Read More
FIRS Issues
Clarification on Sundry Provisions of The Finance Act 2019 as it Relates to CIT
Act - This circular is issued
for the information and guidance of the general public, taxpayers and tax
practitioners in line with the provisions of the relevant tax laws. This
instant circular amends, updates or replaces contents of any circular, notice
or other publication previously issued by the Service that is inconsistent with
its contents to the extent of such inconsistency. Source FIRS Read More
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PROSHARE MARKETS
Increase of Market Activities Anticipated in the Coming Week - The AFEX Commodities Index inched higher by 6.05% at the close of trading last week to settle at a season-high of 186.65 points. The rally in the ACI came on the back of increased processor demand in the maize and paddy rice markets. Source Kainosedge Consulting for AFEX Commodities Exchange Read More
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PROSHARE BUSINESS
Bank NPLs (10) - Technical Analysis on Banks' NPLs - Leverage Ratio - Access Bank had an upward trending leverage ratio between 2009 and 2014. Its highest leverage ratio recorded was +79.7% in Q4 2014 while its lowest leverage ratio was +3.7% in Q4 2009. Source Debtors Africa Read More
US Treasury
Dept Rejects Acquittal, Demands Re-investigation of AfDB President - The United
States received your letter of May 5, in which you share your view that the
Board of Governors of the African Development Bank should adopt the conclusions
of the Bank's Ethics Committee and declare that the President is "totally
exonerated of all the allegations made against him." Source US Dept of the
Treasury Read More
Ahead of Tomorrow on WebTV: Discussions on Doing
Business and Sanctity of Contracts in Nigeria - Dr Kubi Udofia is a vastly seasoned transactional and dispute
resolution lawyer. He is presently a Managing Associate at Babalakin & Co,
a leading commercial law firm in Nigeria. Dr Udofia is a scholar-practitioner
and writes regularly on diverse corporate and commercial law issues in Nigeria
and globally. He is also a leading and an acknowledged expert in corporate
insolvency and restructuring law in Nigeria. Source WebTV Read
More
Ahead of Tomorrow on WebTV: Discussions on Sanctity
of Contracts in Nigeria - Dr. Temitope
Oshikoya, a Chief Economic Strategist/CEO, Nextnomics Ltd is a seasoned
economist, policy analyst, chartered banker, and certified management
accountant. With over two decades of experience in senior management spanning
several sectors, he has held several notable positions in the private and
public sectors, spanning consulting, academia, at national and international
levels. Source WebTV Read
More
Less Than 30% Of Fuel Depots Operating - DAPPMAN - Most fuel depot operators have been forced out of
business as the Nigerian National Petroleum Company emerged the sole supplier
of imported fuel in recent years, the Depot and Petroleum Products Marketers
Association of Nigeria has said. Source Punch Read More
ECOWAS Fixes 2023 Completion Date for $567m WAPP
Project - The Economic Community of West African
States (ECOWAS) member countries, through the West African Power Pool (WAPP),
has set a 2023 date for the completion of the $567.5 and 600 megawatts project.
Source THISDAYLIVE Read
More
UK to Reopen Thousands Of Shops In Easing Of
Coronavirus Lockdown: Johnson - Britain
will reopen thousands of high street shops, department stores and shopping
centres next month, Prime Minister Boris Johnson said on Monday, setting out a
timetable for businesses as part of moves to ease the coronavirus lockdown. Source
Reuters Read
More
DBN Disburses N100bn to MSMEs - DEVELOPMENT Bank of Nigeria Plc, DBN, said it
disbursed N100 billion to over 100,000 Micro, Small and Medium Enterprises,
MSMEs, in the country last year. Source Vanguard Read
More
China Will Work With G20 to Ease Africa's Debt Burden - Chinese Foreign Minister Wang Yi
declared, China will work with other G20 members to implement the debt service
suspension initiative to ease Africa's debt burden. Minister Wang made the
remarks when he responded to a question asked by an African journalist at a
press conference on the sidelines of the annual Chinese national legislative
session on Sunday, May 24th. Source THISDAYLIVE Read
More
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PROSHARE TECHNOLOGY
Post COVID-19: Nigeria Needs To Embrace Data to Spur A Robust Economy - Nsikak John - There is a need for Nigeria to leverage its national data reservoir for application in shortcodes for people to report health cases during an emergency period like the novel Coronavirus pandemic. A technology and innovation expert, Mr, Nsikak John, noted during an interview on WebTV's Economy and Politics programme. Source WebTV Read More
Banks' Investments In Software Rise to N46.2bn - Ten Deposit Money Banks reported fresh investments valued at N46.2bn in software in the first three months of the year in order to deliver hitch-free digital banking services to customers. Findings by The PUNCH showed that in the first quarter of the previous year, the same banks spent N3.76bn on computer software they developed and purchased outside the country. Source Punch Read More
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More News on Technology
PROSHARE FINANCE
Insurance Firms Seek
One-Year Extension Of Recapitalisation Deadline - Insurance companies have
solicited one-year extension from the National Insurance Commission to meet up
with its new capital requirements. The underwriters said economic challenges
resulting from the coronavirus pandemic had altered their recapitalisation
plans and they would require more time to adjust to the realities in the
country and global economy. Source Punch Read
More
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