Nigeria in 1min: Economic, Business and Financial Headlines - 280819

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Wednesday, August 28, 2019 / 07:00 AM / By News Aggregator / Header Image Credit:  @OGSGofficial

 

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PROSHARE ECONOMY

Market Interest Rates Back Up - The Central Bank of Nigeria (CBN) has been promoting pro-growth strategies recently, while letting market interest rates fall to a shade over the inflation rate. Source Coronation Research Read More

CBN, Bankers' Committee Introduce Measures To Help Banks Meet 60% LDR - Ahead of the September 30 deadline given to deposit money banks to increase their Loan to Deposit Ratio (LDR) to 60 percent, the Central Bank of Nigeria (CBN) and the Bankers' Committee on Monday came up with some initiatives targeted at stimulating lending in the economy. Source Businessday Read More

Sterling Bank Holds Summit On $1tr Agribusiness - Policy makers, international financial institutions, value chain players and development agencies  will be part of the second Sterling Bank Agriculture Summit Africa billed for September 5 and 6 in Abuja.The summit with the theme "Agriculture - Your Piece of The $1tr Economy," is geared toward attainment of the $1trillion Africa agribusiness economy dream of the World Bank by 2030. Source TheNation Read More

Ogun Anchor Borrowers Loan'll Attract Single Digit Interest - The Ogun State Governor, Prince Dapo Abiodun, on Monday said Ogun State Anchor Borrowers Programme (ABP) will provide inputs, service support and training required for farmers through a single digit loan and a guaranteed off-taker. He spoke in Abeokuta while inaugurating the steering committee  to oversee the state’s ABP. Source TheNation Read More

 

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PROSHARE REGULATORS   

CBN Releases Exposure Draft On The Prudential Guidelines For Microfinance Banks - The Central Bank of Nigeria (CBN}, in June 2010, issued the revised Prudential Guidelines to deposit money banks in Nigeria as part of its efforts at enhancing the quality of banks' assets. The need for sector-specific Guidelines has become apparent given developments which had specific impact on different classes of financial institutions over the years. Source CBN Read More

 

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PROSHARE MARKETS

Nigerian Corporate Executive Pay Revisited: The Need For A Shave - Executive pay of the bosses of Nigeria's top ten listed companies on the Nigerian Stock Exchange (NSE) have had little to do with either earnings performance or return on equity (ROE). Indeed, for some of these companies a fall in profit has been rewarded by a rise in the chief executive's (CEO's) remuneration. Source Proshare Read More

UAC Of Nigeria Plc - Imperial Logistics Increases Stake In MDS Logistics Limited - UAC of Nigeria Plc ("UAC or the Company") wishes to inform The Nigerian Stock Exchange (The Exchange), its shareholders and stakeholders that the Company has entered into an agreement with Imperial Logistics Limited ("Imperial Logistics"). Source UAC of Nigeria Read More 

Treasury Bill Auction Schedule For August 28th, 2019 - A primary auction of Nigerian Treasury Bills will take place Tomorrow, Wednesday, August 28th, 2019. Source Arthur Steven Asset Mgt Read More 

Investors Lose N43.34bn As NSEASI Dips Further By -0.32%; Sell Pressure Persists - Equities market closed today on a negative note, as NSEASI depreciated by -0.32% to close at 27,602.77 points as against -0.39% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -12.18%. Source Proshare Markets Read More 

Investors Fly To Safety As Mutual Funds Rise By 22.8% To N798.04b - Total net asset value of all registered mutual funds in Nigeria rose over a one-year period by 22.8 per cent as investors showed preference for less risky fixed-income funds. Mutual funds, otherwise known as collective investment schemes (CIS), are joint investment vehicles through which investors can pool funds and invest in chosen basket of securities with a view to optimising returns and reduce risks. Source TheNation Read More

Financial Inclusion: Pension Assets Hit N9.33tr - Adult population that has embraced financial services is expected to hit 80 per cent by 2020, from about 65 per cent, Central Bank of Nigeria (CBN) statistics has shown. But achieving this mandate requires the collaboration of key stakeholders. The Micro Pension Plan (MPP) driven by the National Pension Commission (PenCom) is one avenue of bringing more people into the financial system. Source TheNation Read More 

Global Electronic Banking Fraud Hits $31b - Global electronic banking fraud has hit $31 billion, the Chartered Institute of Bankers of Nigeria (CIBN), has said.Its Chairman, Lagos Branch, Mr. Peter Ashade, who spoke ahead of a forum the group is planning for Lagos, lamented that this robust electronic service platform has come with a number of concerns and challenges, particularly the perpetration of fraud. Source TheNation Read More 

A Dollar Rising Into a Possible U.S. Recession Could Be a Bad Omen - The dollar has been ascendant in 2019 and forecasts for a U.S. recession are growing louder. If the greenback's strength keeps up and the economy does shrink, some experts are worried this combination will make it harder for the economy to claw back out. Source Bloomberg Read More 

 

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PROSHARE BUSINESS

Trump Feeds Oil Markets False Hope - Mixed messages from President Trump at the G-7 summit in France have left investors guessing on what happens next regarding the trade war. Shifting from a hard line to a more conciliatory and upbeat note, Trump sowed confusion as higher tariffs are days away from taking effect. Source Oilprice Read More 

$9.6bn Judgment: We Have No Record Of P&ID Investment In Nigeria -Emefiele - The Governor of the Central Bank of Nigeria, Godwin Emefiele, on Tuesday said the apex bank did not have any record that Process and Industrial Developments Ltd invested any money in the country.Process and Industrial Developments Ltd recently won a suit granting it the right to seize $9.6bn in Nigerian assets. Source Punch Read More


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PROSHARE TECHNOLOGY   

9mobile Gets $230m Loan from AFC to Rejig Operations - Management of Emerging Markets Telecommunication Services Limited (EMTS), trading as 9mobile, has secured $230 million loan facility from Africa Finance Corporation (AFC) to help it attain its long-term growth plans. Source Nigeria Communications Week Read More      

MultiChoice Africa Will Be Slashing DStv Subscription Prices Across East Africa - MultiChoice Africa, the parent company of satellite TV services DStv and GOtv, has announced plans to slash DStv subscription fees across East Africa. Source Tech Point Africa Read More

 

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