Nigeria in 1min: Economic, Business and Financial Headlines - 280721


Wednesday, July 28, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Facebook; Babajide Sanwo-Olu

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COVID-19 Health Updates

  • 27th of July 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 171,728 cases (New: 404)
  • Discharged: 164,837
  • Deaths: : 2,134 (New: 0)

Source: NCDC Read More

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July 2021 MPC Meeting: CBN Holds All Policy Parameters, Stops Sales of FX to BDCs - The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has today concluded its two-day meeting in July 2021. At the end of the meeting, the committee resolved to hold the monetary policy rate and all other policy parameters constant. Source by Proshare Research Read More

CBN Stops Sale of FX to BDCs, Holds Policy Parameters Constant - In a move that took local Nigerian financial markets by surprise, the Central Bank of Nigeria (CBN) embarked on sweeping measures to clean the rot that had allegedly occurred in the trading of foreign exchange at Bureau de Changes (BDCs). Source TheAnalyst, Proshare Research Read More

Food Prices Still on the Rise - Rising food prices amidst food scarcity appear to be the new reality, a worrisome situation pushing many Nigerians below the poverty line. According to the selected food price watch data for June 2021 by the National Bureau of Statistics (NBS)... Source by CSL Research Read More

CBN Communique No. 137 of the MPC Meeting - July 26-27, 2021 - The Monetary Policy Committee (MPC) met on the 26th and 27th July, 2021 faced with cautious optimism for the recovery of both the global and domestic economies. The performance of the global economy in the first two quarters of the year had been favourable and is expected to continue for the rest of the year.  Source by Central Bank of Nigeria Read More

Average Fare Paid for Bus Journey Increased by 2.80% MoM in June 2021 - NBS - The Transport fare Watch report for June 2021 covers the following categories namely bus journey within the city per drop constant route; bus journey intercity, state route, charge per person; airfare charge for specified routes single journey; journey by motorcycle (Okada) per drop; and waterway passenger transport. Source NBS Read More

Nigeria's Revenue-to-GDP Ratio Lowest, Private Sector Choking - World Bank - Nigeria's revenue-to-Gross Domestic Product ratio, which fell to between five and six per cent last year, is the lowest in the world, the World Bank said on Monday. Source Punch Read More

60% Illicit Financial Flows Perpetrated by Private Sector - ICPC - The Chairman of the Independent Corrupt Practices and Other Related Offences Commission, Prof. Bolaji Owasanoye, has said that the private sector was responsible for over 60 percent illegal movement of funds from Africa to foreign countries. Source Punch Read More

IMF Retains Nigeria's Growth Prospect at 2.5% Amid Slow Vaccinations - The International Monetary Fund (IMF) has retained its projection for Nigeria's economic growth prospect for this year at 2.5 per cent. This is contained in the July World Economic Outlook (WEO) Update released yesterday. The 2021 forecast update is the same as its April forecast. Source The Guardian Nigeria Read More


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Improved Liquidity Spurs Investors Interest in Fixed Income Assets - Liquidity in Nigeria's Fixed income market rose significantly for July 2021 as investors reengage domestic financial markets more actively. Source by Ottoabasi Abasiekong for WebTV Read More

Investors Lose N24.45bn as NSEASI Dips by -0.12%, Halts Positive Market Sentiment - Equities market closed today on a negative note, as NSEASI depreciated by -0.12% to close at 38,802.15 basis points as against +0.47% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -3.65%. Source by Proshare MARKETS Read More

ETF: Foreign Transactions on NGX Hit 99.64% as NewGold Leads as the Most Active Stock - Despite FX restrictions, foreign transactions in Exchange Traded Funds (ETFs) grew by 99.64 percent even as ten stock brokers drove 99.9 percent of total transaction value and 97.3 percent of total volumes of ETFs in the second quarter (Q2) of 2021. Source by NGX Read More


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Airtel, UNICEF to Empower Nigerian Youths - Leading telecommunications services provider, Airtel Nigeria, has partnered with United Nations International Children Education Fund (UNICEF) to empower young people in Nigeria through the newly launched Generation Unlimited (GenU) initiative... Source by Airtel Read More

Justice Reform Project and Integrity Org. to Host Inaugural Open Conversation Series - The Justice Reform Project (JRP) and Integrity Organisation Ltd/Gte (with the support of MacArthur Foundation) would be hosting the general public at the inaugural edition of the Open Conversation Series themed "Is the Justice Sector Fit for Purpose?". Source by Justice Reform Project Read More

NAICOM Approves New Board For NICON Insurance, Nigeria Reinsurance - The National Insurance Commission (NAICOM) has approved the new board and management of NICON Insurance Limited and Nigeria Reinsurance Corporation (Nigeria Re). Source by Press Release by AMCON Read More

Nigeria, 91 Others to Benefit from World Bank - COVAX Vaccine Financing - Nigeria and 91 other developing countries will benefit from a new COVID-19 vaccine financing mechanism, which is a product of a partnership between World Bank and COVAX. Source Punch Read More

Electricity Collections Rise by 63%, Says Osinbajo - Vice President Yemi Osinbajo yesterday said electricity tariff reforms and its services-based tariff have raised collections from the sector by 63 per cent. According to him, this has increased revenue assurance for gas producers and stabilised the value chain to the extent that there is an expectation that the accruable revenue will reduce the subsidies as reforms in metering and efficiency in the distribution companies get better. Source The Nation Read More

Amazon Eyes Cryptocurrency but Not Poised for Bitcoin - Amazon on Monday denied a report that the e-commerce giant planned to begin accepting Bitcoin payments by the end of this year, but acknowledged an interest in cryptocurrency. Source The Guardian Nigeria Read More

NNPC Transfers $1.28b to JV Cash Call - The Nigeria National Petroleum Corporation (NNPC) said it transferred $1.28 billion to Joint Venture Cash call in February, 2021, The Nation learnt yesterday. The document entitled: "February 2021, Financial and Operations Report," added that the $1.28 billion was paid as first line charge. Source The Nation Read More

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The Critical Success factors of Digital Transformation - Digital technology is creating changes in business systems and customer experience. It is now steering the quest of business leaders towards transformation, finding new markets, and improving business performance in a world filled with massive competition and rapid change. Source by Kelvin Chiazor, Consultant, Phillips Consulting Read More

Piggyvest Acquires - 2020 was an incredible year for Piggyvest, we saw tremendous growth even in a pandemic year - we paid back N90 Billion to our users in the course of the year. We think of that as several goals achieved, several dreams coming true, several aims fulfilled. Source by Piggyvest Read More


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Every Enterprise need Business Insights - Businesses whether big or small can leverage on business insights to make informed decisions to drive growth and profitability. However, many small and medium enterprises (SMEs) do not want to use business intelligence (BI) solutions which have been proven reliable to help aggregate and appropriate business data to give insights.

Visit OZE by FCMB to see how you can leverage on your business' data. 

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