Nigeria in 1min: Economic, Business and Financial Headlines - 300721


Friday, July 30, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Facebook; The Lagos State Government

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COVID-19 Health Updates

  • 29th of July 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 172,821 cases (New: 558)
  • Discharged: 164,930
  • Deaths: : 2,141 (New: 2)

Source: NCDC Read More

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Black-out Wednesdays: How Much Longer Before the light? - In yet another display of the precarious state of the Nigerian power sector, yesterday, news reports revealed that the power grid had collapsed. The grids are currently under the management and control of the Transmission Company of Nigeria (TCN)... Source by CSL Research Read More

Post MPC - July 2021: Reactive in Action... Proactive in Guidance - Analysts and journalists were of the view that this was going to be deja vu, another ritual of the boring status quo and reasons for and against the usual suspects- inflation, growth and interventions. Source FDC Limited Read More

A Slowdown in Growth in PSCE, Rose by 10.9% in June 2021 to N32.64trn - Total lending to the private sector has again increased at a double-digit rate y/y although momentum appears to be slowing. It rose by 10.9% y/y in June, to NGN32.64trn (USD79.32bn). Source FBNQuest Research Read More

NSIA to Invest $200m in World Class Hospital, 20 Other Health Projects Nationwide - The Nigerian Sovereign Investments Authority, (NSIA) has concluded plans to build a world class hospital in Abuja, as part of its plans to strengthen Nigeria's health care delivery system. Source THISDAYLIVE Read More

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SEC Proposes Major Amendments to Part E Rules on Securities Exchanges - The Securities and Exchange Commission (SEC) has proposed a major amendment to the Part E of the rules on securities exchanges. Source by SEC Nigeria Read More 


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Ecobank Group H1 2021 Results: Performance Surges as Doubts Hang Over Nigeria - Ecobank Transnational Inc (ETI) H1 2021 result has created mixed feelings amongst analysts and investors as the bank reported an H1 2021 profit before tax (PBT) of N85.32bn which was 33.4% higher than the N64.13bn PBT recorded in H1 2020. Source by Adaeze Nwachukwu, Proshare Research Read More

Investors Lose N159.54bn, NSEASI Dips by -0.79%, YTD Returns Hits -4.43% - Equities market closed today on a negative note, as NSEASI depreciated by -0.79% to close at 38,484.82 basis points as against -0.03% depreciation recorded previously. Source by Proshare MARKETS Read More

Guaranty Trust Holding Company Plc Approves Q2 2021 Audited Results, Awaits Regulatory Approval - Guaranty Trust Bank hereby informs you that at the meeting of the Board of Directors of the Bank which held on Wednesday, July 28, 2021, the Audited Financial Statements (AFS) for the half-year ended June 30, 2021, were considered and approved. Source NGX Read More 


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IMF Kicks Against Adoption of Cryptocurrencies as Legal Tender - The International Monetary Fund has kicked against the adoption of cryptocurrencies, like bitcoin and ethereum, as legal tenders. In a blogpost titled 'Crypto assets as national currency? A step too far', the IMF said it did not see cryptocurrencies catching on as national currencies, and highlighted numerous risks and costs involved if it happened. Source Punch Read More

UK Launch Scheme to Drive Trade with Nigeria, Boost Jobs - The UK Government has launched a consultation on new trading rules that will help countries like Nigeria grow their trade and build back better businesses and help British businesses and consumers at the same time. Source THISDAYLIVE Read More


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Stakeholders Call for Strategic Investments in Africa's Digital Infrastructure - Stakeholders at the end of the 2021 Connected Africa summit which discussed the theme "Monetization in the Digital Economy" called for new and significant investments in the digital infrastructure of the region. Source by Ottoabasi Abasiekong for WebTV Read More

EIU: Internet Connectivity in Schools Will Boost GDP by 20% - An Economist Intelligence Unit (EIU) report sponsored by Ericsson has found that nations with low broadband connectivity have the potential to realize an increase in GDP by up to 20 per cent by connecting schools to the internet. Source THISDAYLIVE Read More

Unique NIN Enrolments Hit 59.8m with Average of Three SIMs - The total number of unique National Identity Number (NIN) that has been verified across networks in Nigeria has reached 59.8 million as at July this year, according to recent statistics released jointly by the Nigerian Communications Commission (NCC) and the National Identity Management Commission (NIMC). Source THISDAYLIVE Read More

Facebook Doubles Profit but Sees Cooling Growth - Facebook on Wednesday reported its profit doubled in the recently ended quarter as digital advertising surged but warned of cooler growth in the months ahead in an update which sent its shares sinking. Source The Guardian Nigeria Read More

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NAICOM Grants Operational Licence to CHI Microinsurance - Consolidated Hallmark Insurance (CHI Plc) has added a new line to its expanding insurance interests through the new operational licence granted to one of its subsidiaries - CHI MicroInsurance Limited (Life Assurance), by the National Insurance Commission (NAICOM). Source by Consolidated Hallmark Insurance Read More

Can These Three (3) Sectors Help Deepen Insurance Penetration in Nigeria? - The critical question that swells in the minds of insurance industry stakeholders and analysts has been: "When will the huge untapped potential of the Nigerian population be exploited and the contribution of the insurance sector to the GDP increase?". Source OpEd by Ekerete Ola Gam-Ikon Read More

COVID-19 Widens Routine Immunization Gaps in Africa - Around 7.7 million African children missed out on vital first doses of Diphtheria-Tetanus-Pertussis, Measles and Polio vaccines in 2020. The nearly 10% rise in missed vaccinations on the previous year in Africa was driven by disruptions to health services by the COVID-19 pandemic. Source By WHO Regional Office for Africa Read More


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Germany Boosts African Startups with 100,000 Euros - The Ministry of a German state, Baden-Wurttemberg, has commenced a three-day hybrid event tagged: StartUp Afrika aimed at boosting 20 African startups with 100,000 Euros. StartUp Afrika, according to the organisers, is one of the developmental expressions of Lead Africa International e.V. funded by the State Ministry of Baden-Wurttemberg, through the Foundation for Development Corporation (SEZ). Source The Nation Read More

Why should you use an Escrow Service in Nigeria? - The fear of paying for a service or product before receiving is scary. This is one of the risks involved in doing business as a small business owner but with Escrow, you can reduce the risk of fraud when buying or selling. See more benefits of an Escrow Service here

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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