Nigeria in 1min: Economic, Business and Financial Headlines - 261119

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Tuesday, November 26, 2019 / 06:40 AM / By News Aggregator / Header Image Credit: @AfDB_Group

 

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PROSHARE ECONOMY 

IMO 2020 Fuel Sulphur Regulation Comes Into Effect From Jan 01, 2020 - The 2020 International Maritime Organisation (IMO) Fuel Sulphur Regulation comes into effect from I January 2020. The new regulation provides a 0.5% global sulphur cap on fuel content, lowering from the present 3.5% limit. This new cap is part of the IMO's response to heightening environmental concerns, contributed in part by harmful emissions from ships. Source PwC Nigeria Read More 

Total Value Of Capital Imported Into Nigeria In Q3 2019 Stood At $5,367.56m - The total value of capital importation into Nigeria stood at $5,367.56 million in the third quarter of 2019. This represents a decrease of -7.78% compared to Q2 2019 and 87.99% increase compared to the third quarter of 2018. Source NBS Read More 

CBN Governor's Speech At The Meeting With State Governors of Cassava Producing States - Good afternoon ladies and gentlemen, and thank you for honouring our invitation to this important meeting, where we will be discussing our plans, aimed at resuscitating the cassava value chain in Nigeria. Source CBN Read More

Border Closure: Benin, Niger Haven't Met Our Conditions - FG - The Federal Government on Monday said seizures made by security agents at the country's land borders indicated that  the republics of  Benin and Niger were not addressing issues that led to the border closure. The Minister of Information and Culture, Lai Mohammed, stated this when he led a  government delegation to the Seme border on Monday. Source Punch Read More


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PROSHARE REGULATORS 

E-Dividend: SEC Cancels Bank Signature Verification - The Securities and Exchange Commission has ordered registrars to discontinue the practice of requesting for confirmation of bank signature during the E-Dividend Mandate Management System process. Source Punch Read More 

SEC Approves 15 New Securities Worth N154.62bn In Q3 -  The Securities and Exchange Commission approved new securities worth N154.62 billion in the third quarter of 2019. The commission disclosed this in its current Nigerian Journal of Securities Market obtained by the News Agency of Nigeria in Lagos on Monday. Source Punch Read More

 

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PROSHARE MARKETS 

Nigerian Stock Market Maintains Uptrend as NSEASI Inches Up By 0.16%; Closes Above 27,000bpts - Equities market closed today on a positive note, as NSEASI appreciated by +0.16% to close at 27,035.78 points as against +0.44% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -13.98%. Source Proshare Read More

Lafarge Africa Q3 2019 Results Review: Shares Significantly Undervalued - Although Lafarge Africa's (Lafarge) Q3 2019 PBT of N4.7bn improved markedly on a y/y basis (from a pretax loss of -N4.7bn Q3 2018), PBT missed our forecast by a sizable margin. Source FBNQuest Research Read More 

Emefiele Urges Private Sector Players to Float Infrastructure Bond - The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has advised corporate bodies in the country to take advantage of the Presidential Order 7 to raise infrastructure bonds at concessionary rates to support the federal government in its desire to develop infrastructure in Nigeria. Source CBN Read More

Afriland Properties Meets Stakeholders On 2019 FY and Outlook For 2020 - Afriland Properties Plc recently met stakeholders on its 2019 financial year activities and its outlook for 2020. The investor discussion was on the platform of the NASD OTC Securities Exchange which trades unlisted securities. Source Proshare Read More 

Afrinvest Stock Recommendation For The Week 251119 - Last week, the local bourse posted a positive performance as the ASI rose 0.5% W-o-W to 26,991.42 points while YTD return softened to -14.1%. However, investors lost N43.8bn as market capitalisation fell to N13.0tn (due to de-listing of Dangflour). Source Afrinvest Research Read More 

Average NT-Bills Yield Declines To 8.7% WoW On Sustained Demand - Activities last week in the Nigerian Treasury Bills ("NT-Bills") secondary market kick started on a tepid note as local investors digested the release of inflation data (+37bps to 11.6%). SDource Afrinvest Research Read More 

  

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PROSHARE BUSINESS 

SEPLAT Plc Emerges Overall Winner of 2019 PEARL Awards - Seplat Petroleum Development Company Limited emerged the overall winner of the 2019 Pearl Awards, which is designed to celebrate excellence and leadership in the Nigerian capital market. Source Proshare Read More 

AXA Mansard Insurance Plc Notifies of The Resignation of Mr. Frederic Coppin - AXA Mansard Insurance Plc. (the Company) wishes to notify The Nigerian Stock Exchange (The Exchange), esteemed shareholders, stakeholders and the public on the resignation of Mr. Frederic Coppin, a Non-Executive Director of the Company, with effect from November 20, 2019. Source NSE Read More 

Uber Loses Licence To Operate In London - The regulator said the taxi app was not "fit and proper" as a licence holder, despite having made a number of positive changes to its operations. Uber initially lost its licence in 2017 but was granted two extensions, the most recent of which expires on Monday. Source BBC Read More

Kenya Cuts Rates After Scrapping Loan-Price Cap to Boost Growth - Kenya's central bank cut its benchmark interest rate for the first time in 16 months as the removal of a cap on borrowing costs will make it easier for policy decisions to flow to help boost credit and economic growth. Source Bloomberg Read More 

Oil Prices Steady As U.S.-China Trade Deal Talks Seek Breakthrough - Oil prices were steady on Tuesday, hanging onto gains from the previous session, after comments from the United States and China kept alive hopes that the world's two largest economies are soon to agree on ending their trade war. Source Reuters Read More 

AfCTA'll Boost Export Quality Of Nigerian Products - Minister - The Minister of Industry, Trade and Investment, Richard Adebayo, has said that the Africa Continental Free Trade Area will improve the export quality of products manufactured in Nigeria. He said with the implementation of the agreement, there would be sophistication of exports across the continent. Source Punch Read More 

NSIA Allocates 50% of Investments to Infrastructure Fund - The Nigeria Sovereign Investment Authority (NSIA) has changed its fund allocation strategy such that the Nigeria Infrastructure Fund (NIF), which used to be allocated 40 per cent of funds under its management, will now get 50 per cent share. Source Thisday Read More


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