Nigeria in 1min: Economic, Business and Financial Headlines - 271021

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Wednesday, October 27, 2021 / 5:53 AM / By News Aggregator / Header Image Credit: FA

 

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  COVID-19 Health Updates

  • 26th of September 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 211,330 cases (New: 159)
  • Discharged: 202,803
  • Deaths: 2,884 (New: 0)

Source: NCDC Read More

 

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PROSHARE ECONOMY

Oil Prices Extend Gains Amid Tight Supply - Last week, Brent crude recorded gains for the ninth consecutive week, its longest streak since 2015. Year-to-date, Brent has returned a whopping 103.5%, with the current bull run attributable to tight market supply and amid improving demand globally. Source United Capital Research Read More

 The Oil Bulls Are Running Riot - OIR 261021 - As of Tuesday, Brent remained flat at $86 per barrel, whilst WTI trended around the $84 per barrel mark. Global crude demand continues to fire on all cylinders, with the Iran talks (Iran's chief negotiator will be negotiating with EU officials this week) being the only major downside risk factor for oil prices. Source Tom Kool of Oilprice Read More

Economic Associate's Q4 2021 Conference on Nigeria's Economic Outlook to Hold in 3 States - The conference presents opportunities to discuss evolving glocal connections and options for realigning national, subnational, and corporate aspirations with global megatrends. Source Economic Associates Read More

In Riyadh, Buhari Calls on World Leaders to Invest in Policies that Guarantee Global Security - President Muhammadu Buhari has called on world leaders and investors to devote more energy to the advancement of humane policies and practices that would guarantee global peace and stability. Buhari said this would help in addressing the rising tension and violence across the world. Source THISDAYLIVE Read More

Paris Club Refund: We'll Not Accept Arbitrary Deductions from FG, Says Fayemi - Kayode Fayemi, governor of Ekiti, says state governments will not accept arbitrary deductions of funds from the federation account. Fayemi, who is also the chairman of the Nigeria Governors' Forum (NGF), said this on Tuesday while speaking with journalists on the sidelines of the 27th Nigerian Economic Summit (NES 27) in Abuja. Source TheCable Read More


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PROSHARE REGULATORS

Court Unfreezes Accounts Blocked by CBN for Cryptocurrency Trading - The Nation is reporting that a Federal High Court sitting in Abuja has vacated with immediate effect an interim order through which the Central Bank of Nigeria (CBN) froze the bank accounts in two banks of a firm that traded in cryptocurrency. Source Robert Egbe of The Nation Read More

 

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PROSHARE MARKETS

Market Halts Positive Posture as NGXASI Closes Flat - Equities market closed on a flat note, as NGXASI closed at 41,814.94 basis points as against +0.12% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +3.83%. Source Proshare Markets Read More

Can Commercial Banks Release the Personal Data of FX Defaulters on their Websites? - Recently, the Central Bank of Nigeria ("CBN") issued a directive to commercial banks that they publish the personal information of customers that breach the provisions of its PTA/BTA guidelines ("Guidelines") on their websites. Source Olumide & Thelma of Banwo & Ighodalo Read More

Access Bank Plc Announces Signing of Zambia Merger - Access Bank Plc announces today that it has executed a binding agreement with Atlas Mara Limited on a proposed merger between African Banking Corporation Zambia Limited and the Bank's subsidiary in Zambia, Access Bank Zambia Limited. Source NGX Read More

Domestic and Foreign Portfolio Participation in Equity Trading - September 2021 - On a monthly basis, Nigerian Exchange Limited ("NGX") polls trading figures from market operators on their Domestic and Foreign Portfolio Investment (FPI)4 flows. As at 30 September 2021, total transactions at the nation's bourse increased by 32.13% from N89.42billion (about $217.53million) in August 20215 to N118.15billion (about $285.81million) in September 20216. Source NGX Read More 

 

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PROSHARE BUSINESS

NNPC: $3.097bn Investment Opportunities Exist in Condensate Refineries - The Nigerian National Petroleum Corporation (NNPC) has said investment opportunities worth nearly $3.097 billion currently exist in the country's condensate refineries' space. Group Managing Director of NNPC, Mallam Mele Kyari, stated this yesterday in Lagos in his keynote address at the 15th Oil Trading and Logistics (OTL) Africa Downstream Week. Source THISDAYLIVE Read More

 

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PROSHARE TECHNOLOGY   

2021 Nigeria Fintech Week: Stakeholders Laud Digistuds Launch - It was another significant milestone for Nigeria's quest to sustain its leadership as Sub-Saharan Africa's primary fintech industry, as it launched the "Digistuds" initiative. Source Ottoabasi Abasiekong for WebTV Read More

PayPal Now Allows Customers in UK to Trade Cryptos - Recently, PayPal announced that it would introduce its new crypto services to UK customers. The giant company announced that it completed the launch of the trading platform in the country and the customers would now be able to buy, hold, and sell cryptocurrencies, including Bitcoin, Ethereum, BitcoinCash, and Litecoin, using their PayPal accounts. Source Guardian Nigeria Read More


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PROSHARE FINANCE

PenCom to Prosecute Defaulting Employers, Recovers N19.29bn Unremitted Pensions - The National Pension Commission says it has recovered N19.29bn monthly pensions deducted by employers from employees' monthly emoluments but not remitted to the Retirement Savings Accounts with their respective Pension Fund Administrators. Source Punch Read More

 

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