Nigeria in 1min: Economic, Business and Financial Headlines - 270121

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Wednesday, January 27, 2021 / 5:37 AM / By News Aggregator / Header Image Credit: Twitter; @AfDB_Group


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COVID-19 Health Updates 

  • 26th of January 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 124,299 cases (New: 1303)
  • Discharged:  99,276
  • Deaths: : 1522 (New: 15)

Source: NCDC Read More


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PROSHARE ECONOMY

Nigeria Outlook 2021: Seizing the New Reality - The economic and social disruption caused by the pandemic and its adverse effects on the global economy are still very evident. The pandemic triggered an economic fallout leaving tens of millions of people at risk of falling into extreme poverty. While new vaccines have been discovered and are now being deployed in some countries. Source Norrenberger Read More

Sunday Igboho and the Yoruba Nation - People, Politics and Policy - In the past week, in the South Western part of Nigeria, we have been treated to stories of conflicts in Ondo and Oyo States between herdsmen, identified as Fulani, and the Yoruba owners of indigenous communities. Source OpEd by Reuben Abati Read More

CBN Communique No. 134 of the MPC Meeting - Jan 25-26, 2021 - The Monetary Policy Committee (MPC) held its first statutory meeting for the year 2021 on the 25th and 26th January on the backdrop of dampened optimism for improvement in global output recovery, associated with the resurgence of the COVID-19 pandemic and mild success with vaccinations across several countries. Source CBN Read More

N454.69bn Generated as Value Added Tax in Q4 2020 - NBS - Sectoral distribution of Value Added Tax (VAT) data for Q4 2020 reflected that the sum of N454.69bn was generated as VAT in Q4 2020 as against N424.71bn generated in Q3 2020 and N308.48bn generated in Q4 2019 representing 7.06% increase Quarter-on-Quarter and 47.39% increase Year-on-Year. Source NBS Read More

 

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PROSHARE MARKETS

Investors Gain N259.45bn as NSEASI Inches Up by 1.21% Amid Improved Market Breadth - Equities market closed today on a positive note, as NSEASI appreciated by +1.21% to close at 41,584.94 basis points as against +0.21% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +3.26%. Source Proshare Markets Read More

Nigeria's Market Not Efficient Enough to Adopt Floating FX Rate - Ebo Ayodeji - Nigeria's money market is not efficient yet to adopt a free floating foreign exchange rate regime, the market must be efficient enough to guarantee a proper price discovery process that reflects supply and demand situations that prevail at any particular time. Mr. Ebo Ayodeji the Head, Research and Strategy, Greenwich Merchant Bank made this point during a discussion on "Monetary Policy in 2021 and Nigeria's Capital Market". Source WebTV Read More

Financial Markets, Big Winners from Pandemic Spending, Says UN - Unprecedented fiscal and monetary support from governments to counter the coronavirus pandemic has failed to boost investment in things like factories and industrial equipment necessary to power job growth, the United Nations has warned. Source Punch Read More

 

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PROSHARE BUSINESS

Proshare to Launch its 2020 Market Review and 2021 Economic Outlook Reports on January 28, 2021 - Proshare, Nigeria's foremost digital financial information hub will on Thursday, January 28, 2021 host the Virtual Launch of the 12th Edition of the Annual Review and Outlook Reports from 11am WAT.  To participate in this launch, kindly register HERE. Source Proshare Business Read More 

Nigeria to Benefit from US Travel Ban Reversal - LCCI - The Lagos Chamber of Commerce and Industry has said the removal by the United States of immigrant visa ban placed on Nigerians will improve diaspora remittances inflows to Nigeria. Source Punch Read More

UK Unemployment Rate Hits 5% - Britain's unemployment rate hit 5.0 percent at the end of 2020, the highest level for more than four-and-a-half years, as coronavirus lockdowns destroyed jobs, official data showed Tuesday. The rate for the three months to the end of November compares with 4.9 percent in the quarter to October, the Office for National Statistics said in a statement. Source Punch Read More

S&P, Nasdaq Slip from Record Levels as Earnings Season Gains Speed - The S&P and Nasdaq slipped on Tuesday from record closing levels as investors digested a batch of corporate earnings results, while an expected policy announcement from the Federal Reserve on Wednesday helped to limit moves. Source Reuters Read More

U.S. Consumer Confidence Edges Higher; House Prices Accelerate - U.S. consumer confidence rose moderately in January while lingering concerns about the COVID-19 pandemic led to a further deterioration in households' perceptions of the labor market, raising the risk of a second straight month of job losses. Source Reuters Read More

 

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PROSHARE FINANCE

Risk Management: Next Step for Insurers on Climate Change - The risks posed to insurers as a result of climate change is an ongoing discussion between insurers, regulators and other stakeholders. In dealing with these risks, regulators, insurers and other stakeholders need to collaborate immensely in order to establish a structure in dealing with climate change risks. Source PwC Nigeria Read More 


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