Nigeria in 1min: Economic, Business and Financial Headlines - 290819

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Thursday, August 29, 2019 / 06:40 AM / By News Aggregator / Header Image Credit: @antonioguterres

 

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PROSHARE ECONOMY

Nigeria's Unconventional Policies Aggravate External Vulnerability - The Central Bank of Nigeria's (CBN) recent attempts to boost economic activity through incentives to bank lending jar with its goal of maintaining a stable exchange rate, Fitch Rating says. Source Fitch Ratings Read More

FX Restrictions on Food Imports: Experts, Economists Share Their Perspective - Two weeks ago, President Muhammadu Buhari, GCFR, in a meeting with Governors of the All Progressives Congress party, APC during the "Eid-al-Adha"  Muslim festival informed them that he had directed the Central Bank of Nigeria (CBN), to extend the Forex restrictions beyond the 43 items in its list of food items. Source WebTV Read More

Nigeria Succumbs, Reduces Visa Fees For Americans - The Federal Government has approved a reduction in visa charges payable by United States citizens from $180 to $150. The Minister of Interior, Rauf Aregbesola, explained on Wednesday that the Comptroller General of Nigeria Immigration Service, Muhammad Babandede, had been directed to implement the reduction with effect from Thursday (today). Source Punch Read More

Abiodun Signs Trust Fund, OGROMA Bills Into Law - The Ogun State Governor, Dapo Abiodun on Wednesday, signed the Osun State Security Trust Fund  and the Ogun State Road Maintence Agency (Amendment) 2019 bills which were passed by the state House of Assembly into law. Source Punch Read More

FAAC Disburses N679.7bn in June 2019 - NBS - The Federation Account Allocation Committee (FAAC) disbursed the sum of N679.7bn to the three tiers of government in June 2019 from the revenue generated in May 2019. Source NBS Read More

 

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PROSHARE REGULATORS

CBN Releases Exposure Draft On The Prudential Guidelines For Finance Companies - 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. Source CBN Read More 

CBN Releases Exposure Draft On The Prudential Guidelines For Deposit Money 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. Source CBN Read More 

CBN Releases Exposure Draft On The Prudential Guidelines For Primary Mortgage 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. Source CBN Read More 

CBN Releases Exposure Draft On The Prudential Guidelines For Development Finance Institutions - 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. Source CBN Read More 

CBN Releases Exposure Draft On The Prudential Guidelines For Mortgage Refinance Companies - 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. Source CBN Read More 

 

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PROSHARE MARKETS

STANBIC Declares N36.25bn PAT in Q2 2019; Proposes N1.00 Interim Dividend, (SP:N35.00k) - Stanbic IBTC Holding Plc released its Unaudited second quarter results for the period ended June 30, 2019. Source NSE Read More 

NSEASI Inches Up Marginally By 0.02% As Market Breadth Closes Flat - Equities market closed today on a positive note, as NSEASI appreciated by +0.02% to close at 27,607.02 points as against -0.32% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -12.16%. Source Proshare Markets Read More 

Forte Oil Plc Releases Document On Take Over Offer By Ignite Investments And Commodities Limited - On 24 June 2019, Ignite Investments acquired 970,166,694 Ordinary Shares representing a 74.02% equity stake in Forte Oil from Zenon Petroleum & Gas Limited ("Zenon Petroleum"), Thames Investment Incorporated ("Thames Investment") and Femi Otedola, for a cash consideration of N66.25 per share. Source NSE Read More 

NNPC, NAOC and OANDO JV Makes Gas and Condensates Discovery - A trilateral collaborative joint venture (JV) between the Nigerian National Petroleum Corporation (NNPC), Nigerian Agip Oil Company, NAOC (an affiliate of Italian Oil major, Eni), and Oando has resulted in the discovery of large onshore gas and condensate deposits in the Niger Delta. Source Press release by Eni Read More 

Trustbond, First Mortgages Set To Merge - Primary mortgage banks, TrustBond Mortgage Bank Plc, and First Mortgages Limited have concluded plans to merge their businesses.The process will culminate in the business of TrustBond Mortgage Bank Plc being merged with that of First Mortgages Limited to become FirstTrust Mortgage Bank Plc. Source Punch Read More 

IFC Transfers Ecobank Shares To Arise BV - International Finance Corporation has announced the completion of its divestment from Ecobank Transnational Incorporated.Ecobank had earlier notified the NSE and its stakeholders that the IFC and the funds managed by the IFC Asset Management Company were in discussions to dispose of their shareholding to Arise BV. Source Punch Read More

 

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PROSHARE TECHNOLOGY   

MTN Unveils Mobile Financial Services Subsidiary - MTN Nigeria is set to unveil its new subsidiary, Y'ello Digital Financial Service Limited and mobile money services today. The telco registered the new subsidiary with the Corporate Affairs Commission in 2018 and obtained a super-agent licence from the Central Bank of Nigeria in July. Source Punch Read More

 

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PROSHARE FINANCE 

NSE Opens 2019 Annual Essay Competition; Call For Entries - The Nigerian Stock Exchange (NSE) is pleased to announce the commencement of the 2019 edition of the NSE Essay Competition with call for entries from students in Senior Secondary Schools in Nigeria, on Monday, August 26, 2019. This year, each student will write on the topic, "How can the capital market create a better future for all". Source NSE Read More

 

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PROSHARE MSME

5 Low-Investment Business Ideas - When it comes to starting a new business, one has to invest a lot of time, energy, and money. The common myth is that a business cannot be started unless an investor doesn't inject millions of dollars' worth of money. Source Aqib Raja Read More

 

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