Nigeria in 1min: Economic, Business and Financial Headlines - 291019

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Tuesday, October 29, 2019 / 06:45 AM / By News Aggregator / Header Image Credit: @SECNigeria

 

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PROSHARE ECONOMY

Manufacturing PMI Stands at 58.2% in October 2019 from 57.7% in September 2019 - The October 2019 PMI survey was conducted by the Statistics Department of the Central Bank of Nigeria during the period October 7-11, 2019. The respondents were purchasing and supply executives of manufacturing and non-manufacturing organizations in all 36 states in Nigeria and the Federal Capital Territory (FCT). Source CBN Read More 

Nigeria To Borrow N803b In Two Months, Forecloses Eurobond Debt - From now till December 31, 2019, Nigeria will raise its domestic debt profile by N802. 82 billion to support the 2019 budget implementation which would elapse in barely 64 days, the Debt Management Office (DMO) has said. Source Guardian Read More 

FG To Establish 774 Farmers' Service Centres - The Federal Government is to establish 774 service centres for farmers across the country, the Minister of Agriculture and Rural Development, Sabo Nanono, has said. Nanono said farmers would access improved seeds and other farm inputs from the centres. Source Punch Read More

 

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ETI Declares N78.84bn PAT in Q3'19,(SP:N7.10k) - Ecobank Transnational Inc. Plc released its Q3 2019 results for the period ended September 30, 2019. Source NSE Read More 

Investors Gain N17.39bn As NSEASI Inches Up By 0.14% To Open The Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by +0.14% to close at 26,384.45 points as against -0.03% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -16.05%. Source Proshare Markets Read More 

Treasury Bill Auction Scheduled For October 30th, 2019 - A primary auction of Nigerian Treasury Bills will take place on Wednesday, October 30th 2019. Source Arthur Stevens Asset Mgt Read More 

Lafarge Africa Plc 9M 2019 - Reaping Benefits of LSAH Sale - Lafarge Africa Plc (WAPCO: TP N24.2 - BUY) reported a profit after tax of N20.6 billion from continuing operations in 9M'19. Significant savings on input costs and lower finance expenses supported the impressive performance in the review period. Source CardinalStone Research Read More 

CBN's Policy on OMO to Depress T-Bills Yields in the Secondary Market - The Treasury Bills ("T-Bills") secondary market started on a bearish note last week as investors sold off their short term bills to take advantage of the long term OMO bills following the announcement of an OMO auction by the CBN on Monday. Source Afrinvest Research Read More 

OANDO Declares N13.06bn PAT in Q3 2019 Results (SP:N3.40k) - Oando Plc released its Q3 2019 results for the period ended September 30, 2019. Source NSE Read More 

Lafarge Africa Declares N20.57bn PAT in Q3 2019 Results,(SP:N14.70k) - Lafarge Africa Plc released its Q3 2019 results for the period ended September 30, 2019. Revenue decreased by 30.4% to N163.06bn from N234.3bn in Q3 2018. Source NSE Read More 

ETI Declares N78.84bn PAT in Q3'19,(SP:N7.10k) - Ecobank Transnational Inc. Plc released its Q3 2019 results for the period ended September 30, 2019. Gross Earnings increased by 6.7% to N610.87bn from N572.66bn in Q3 2018. Source NSE Read More 

Access Bank Plc - Huge FX Gains Buoy Q3 2019 Performance - Access Bank  Plc (ACCESS: TP 8.74 - BUY) reported a 28.0% YoY increase in EPS to N2.74 for 9M'19 in its latest filing with the Nigerian Stock Exchange (NSE). The growth in earnings was supported by a 71.0% YoY jump in net interest income. Source CardinalStone Research Read More 

Access Bank Plc - Acquisition Of Controlling Equity Interest In Transnational Bank Kenya Plc - The Board of Access Bank Plc ("the Bank") in pursuance of the Bank's strategic objective of becoming Africa's Gateway to the World has obtained the Central Bank of Nigeria's 'No Objection' to its proposed acquisition of controlling equity interest in Transnational Bank of Kenya (1-NB') Plc. Source NSE Read More 

Access Bank Plc - Funding Cost Disappoints In Q3 2019 - Access Bank Plc released Q3 19 results on Friday, with PBT largely flat QoQ (-0.09%). However, due to a materially lower tax spend (relative to Q2), PAT expanded 27% QoQ. Source ARM Research Read More 

 

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PROSHARE BUSINESS

The Nigeria Data Protection Regulation - Compliance Requirements - The National Information Technology Development Agency (NITDA or "the Agency) on 25 January 2019, issued the Nigeria Data Protection Regulation (NDPR) which provides guidelines on the use of personal data by organizations who collect and/or process such data. Source Wole Obayomi, KPMG Read More

Foreign Airlines Reap $700m from Ticket Sales in Eight Months - Following the improvement in the Nigerian economy after the recession that hit the country, foreign airlines operating in the country sold tickets worth $700 million as at the end of August 2019, according to figures obtained from the International Air Transport Association (IATA). Source Thisday Read More 

CBN Sets N4bn Capital For CPC, CIT Companies - The Central Bank of Nigeria has set new rules and capital requirements for Currency Processing Companies and Cash-In-Transit companies that want to operate in the financial sector. Source Punch Read More 

NNPC Pledges to Deepen Reforms in Downstream Sector - The Nigerian National Petroleum Corporation (NNPC) has reiterated its commitment to entrench downstream competitiveness using innovation and information technology. Source Thisday Read More

 

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PROSHARE TECHNOLOGY  

Nigeria Fintech Week: SEC Nigeria To Launch Fintech Roadmap - Apex regulator of the Nigerian financial and capital market, the Securities and Exchange Commission will formally launch its Fintech Roadmap this week. Source Proshare Read More

Amazon Could Challenge Loss Of $10 Billion Pentagon Cloud Deal As Early As Next Week - If Amazon.com decides to fight the Pentagon's decision to award a highly contested $10 billion cloud computing contract to Microsoft, it could act as early as next week. Source Reuters Read More

 

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