Nigeria in 1min: Economic, Business and Financial Headlines - 260820

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Wednesday, August 26, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @AO1379

 

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COVID-19 Health Updates

  • 25th of August 2020: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 52,800 cases (New: 252)
  • Discharged:  39,964
  • Deaths: : 1007 (New: 3)

Source: NCDC Read More


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PROSHARE ECONOMY

NBA vs. Nasir El-Rufai - I admire Nasir el-Rufai, the Governor of Kaduna State for his intellectual abilities and what he has been able to achieve within the public space, but I am not his fan. I have had two rather disturbing encounters with him. Source OpEd by Dr. Reuben Abati Read More

Gulf of Mexico Storms Push Oil Prices Higher - OIR 250820 - Oil prices rose on Monday as more than 1.5 mb/d of U.S. offshore oil production was temporarily taken offline due to storms in the Gulf of Mexico. On Tuesday, prices inched up a bit further. Source Josh Owens of Oilprice Read More


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PROSHARE REGULATORS 

NSE Strengthens Investor Protection With Upgrade of X-Whistle - X-Whistle which was first launched in 2014, is a web-based whistleblowing portal that empowers a whistleblower - an employee, investor, compliance officer, Issuer, stockbroker or any member of the public - to report possible violations of the rules and regulations of The Exchange, the securities law and fraud related to activity within the capital market. Source NSE Read More

 

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PROSHARE MARKETS 

Investors Gain N32.67bn as NSEASI Inches Up by 0.25% Amid Negative Market Breadth - Equities market closed today on a positive note, as NSEASI appreciated by +0.25% to close at 25,291.73 basis points as against +0.03% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -5.78%. Source Proshare Markets Read More

FG Targets 22 Non-oil Commodities for Export Promotion - Recently, the Nigeria Export Promotion Council (NEPC) disclosed that the FG has identified about 22 non-oil strategic products that will be exported to diversify the nation's foreign exchange earnings away from oil. Source CSL Research Read More 

The Evolving Model of Wealth Management - It would be a strong, yet fair claim to make, that banks have had to change their business models more than any other industry. New technology and capabilities which have been accelerated through the COVID pandemic have further disrupted banking including the hitherto slow-moving wealth management business. Source Dr. Owen Young Read More


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PROSHARE BUSINESS 

We're Spending $6.15bn Funding on Power Sector Reform - Minister - The Federal Government has so far secured a total of $6.15bn (about N2.37tn) funding for the power sector and is currently reforming the industry with the fund, the Minister of Power, Sale Mamman, has said. Source Punch Read More

Edo Refinery Applies to NNPC for Crude Supply - With the Edo Modular Refinery nearing completion, it has applied to the Nigerian National Petroleum Corporation for the supply of crude for use in the phase one development of the facility. Source Punch Read More

CBN to Sanction Exporters for Not Repatriating Forex - The Central Bank of Nigeria, in collaboration with the Bankers' Committee, has threatened to impose heavy sanctions on exporters who failed to repatriate foreign exchange proceeds from their international business. Source Punch Read More

Buhari Approves One-year Deferment of 35% Import Adjustment Tax - President Muhammadu Buhari has approved a one-year deferment of the 35 per cent import adjustment tax (levy) imposed on fully-built unit (FBU) electricity meters HS Code 9028.30.00.00. Source THISDAYLIVE Read More

U.S., China Reaffirm Commitment to Phase 1 Trade Deal in Phone Call - Top U.S. and Chinese trade officials reaffirmed their commitment to a Phase 1 trade deal, which has seen China lagging on its obligations to buy American goods, giving a boost to financial markets on Tuesday. Source Reuters Read More

Fani-Kayode's Attack On Daily Trust Reporter: Our Stand - The management of Media Trust Limited, publishers of Daily Trust and other titles, condemn the reprehensible actions of Femi Fani-Kayode, who in a video clip now gone viral, verbally assaulted - repeatedly - our reporter, Eyo Charles in the course of doing his job. Source Daily Trust Read More


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PROSHARE TECHNOLOGY 

Chinese-Made Smartphones Are Secretly Stealing Money from People Around The World - When Mxolosi saw a Tecno W2 smartphone in a store in Johannesburg, South Africa, he was attracted to its looks and functionality. But what really drew him in was the price, roughly $30 - far less than comparable models from Samsung, Nokia, or Huawei, Africa's other top brands. Source Craig Silverman, Buzzfeed News Read More

 

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PROSHARE FINANCE

How to Make the Most of Your Money Each Month - Unless you have a huge salary or income from investments, you will no doubt need to watch what you spend each month. However, there are ways to make your money go further and to ensure you make the most of every cent you earn. Source Sponsored Post by Noelle Marfil Read More

 

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