Nigeria in 1min: Economic, Business and Financial Headlines - 290921

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Wednesday, September 29, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Facebook; Babajide Sanwo-Olu

 

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 COVID-19 Health Updates

  • 28th of September 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 205,047 cases (New: 295)
  • Discharged: 193,260
  • Deaths: 2,695 (New: 6)

Source: NCDC Read More

 

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PROSHARE ECONOMY

How to Stabilize the Naira - Ayo Teriba - Recent slides in the official exchange rate of the Naira and the dramatic widening of the parallel market premium signaled that the unease in the Nigerian foreign market has intensified, testing our capacity as a nation to stabilize the Naira. Source Dr. Ayo Teriba Read More

Brent Temporarily Breaks the $80 Mark- OIR 280921 - For the first time since October 2018, Brent futures exceeded $80 per barrel, though it needs to be pointed out that it was only November ICE Brent that breached that psychological barrier as all subsequent months dipped deeper into backwardation. Source Tom Kool of Oilprice Read More

Reps Pass 2022-2024 MTEF, Approve N4.89tn New Borrowings - Like the Senate, the House of Representatives has passed the 2022-2024 Medium Term Expenditure Framework and Fiscal Strategy Paper as presented by the President, Major General Muhammadu Buhari (retd.). Source Punch Read More

Only Lagos, Rivers, Anambra Can Survive on IGR, VAT - Report - Only three states in Nigeria can survive without support from the Federal Government. This was disclosed in BudgIT's report 'State of States, 2021 edition: Fiscal Options for Building Back Better' released on Tuesday. Source Punch Read More


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PROSHARE MARKETS

FBN Holdings Valuation: Turning the Analyst's Lenses on FBNH's Value - Proshare analysts adopted an earnings approach to the valuation of FBNH in the absence of annual dividends that would have allowed the analysts to value the company based on how much the company had paid its shareholders over the last five years. Source Proshare Research Read More

GTCO H1 2021 Result: Tumbling Earnings Face Slightly Rising Liquidity - GTCO's H1 2021 Audited result showed that traces of COVID-19-induced operational vulnerability still plagued the Tier 1 financial institution; this appeared in a fall in both the group's top and bottom-line earnings with a marginal improvement in its statement of financial position (balance sheet). Source Adaeze Nwachukwu, Proshare Research Read More

Investors Lose N2.78bn as NSEASI Dips Marginally by -0.01%; Sentiment Remains Negative - Equities market closed today on a negative note, as NSEASI depreciated by -0.01% to close at 38,858.99 basis points as against -0.25% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -3.51%. Source Proshare Markets Read More

Top Technology Experts Set to Discuss Digital Transformation at NGX TechNovation Conference - Nigerian Exchange (NGX) Limited has concluded plans to bring together leading industry experts to discuss digital transformation in Nigeria's capital market at its inaugural TechNovation Conference on Thursday, 30 September 2021. Source NGX Read More

Coronation MB holds 2nd edition of its Interactive Session Series themed AfCFTA - The Road Ahead - Nigeria's leading financial institution, Coronation Merchant Bank, recently held the 2nd edition of its Interactive Session Series themed 'AfCFTA - The Road Ahead'. Source Coronation Merchant Bank Read More


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PROSHARE BUSINESS

Breaking the Spirit of Public Service: Yewande Sadiku and Her Traducers - Prof. Kalu Uka introduced me to Victor Hugo's Les Miserables when I was an English and Literary Studies major at the University of Nigeria, Nsukka in the early 1980s. At that time, UNN was brimming with globally rated intellectuals and my Head of Department was Prof. Chinua Achebe. Source Georgina Ehuriah-Arisa Read More

Sterling One Foundation Partners First Exploration and Petroleum Development Company - Sterling One Foundation has announced its partnership with First Exploration & Petroleum Development Company to adopt two beaches for 2 years each. This is in commemoration of World Cleanup Day. Source Sterling One Foundation Read More 

BCAN Backs Banks, CBN in Publishing Forex Defaulters' Names - The Bank Customers Association of Nigeria (BCAN) have lauded the Central Bank of Nigeria (CBN) foreign exchange policy and deposit money banks decision to publish the names of violators of the CBN FX policy. Source THISDAYLIVE Read More

How NEITI will Recover N2.6trn from 77 Oil Companies - Orji - Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Dr. Orji Ogbonnaya Orji has explained that the recent Memorandum of Understanding (M0Us) signed by NEITI with anti-corruption agencies in the country would help Nigeria recover about N2.6 trillion from 77 oil and gas companies. Source Vanguard Read More

Senate Asks International Oil Companies to Relocate Headquarters to Niger Delta - The senate has asked international oil companies (IOCs) operating in the Niger Delta region to relocate their headquarters to their states of operation. Source TheCable Read More


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PROSHARE FINANCE

FG Commends Insurance Operators for Making Positive Economic Impact - The federal government has commended the positive contributions made by insurance operators in the economy and the lives of Nigerians. The industry received the commendations from President Muhammadu Buhari at the recent African Insurance Organisation's conference held in Lagos. Source THISDAYLIVE Read More


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PROSHARE MSME

NEXIM Votes N36bn for SMEs' Export Business in 36 States - The Nigerian Export-Import Bank has said it has earmarked a minimum of N1bn for every state of the federation to be disbursed to targeted export-oriented projects in the Small and Medium Scale Enterprises sector. Source Punch Read More


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