Nigeria in 1min: Economic, Business and Financial Headlines - 300919

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Monday, September 30, 2019 / 06:50 AM / By News Aggregator / Header Image Credit: NSE

 

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PROSHARE ECONOMY

CBi and MACN to hold Round-Table Session On "Service Delivery At The Nigerian Ports" - The Convention on Business Integrity in collaboration with the Maritime Anti-Corruption Network (MACN) is set to host a roundtable session themed, "Towards Standard Operating Procedures That Work in Nigeria's Sea Ports & Terminals" on Tuesday, October 8th, 2019. Source CBi Read More

Oil Slides As Middle East Tensions Fade - OIR 270919 - Oil is set to close out the week with the largest weekly loss in months. Crude fell on news that Saudi Arabia has declared a partial cease-fire in Yemen, raising hopes that several years of war could come to an end. It would also dial down tension with Iran. Source Oilprice Read More

Weekly Economic and Financial Commentary - Week Ended Sept 27, 2019 - CBN's Purchasing Managers' Index (PMI) for the month of September, revealed continuous expansion, albeit at a slower rate relative to the prior month. For context, Manufacturing PMI printed at 57.7 index points (August: 57.9 index points) hinged on slower growth in raw materials, production level and employment level. Source ARM Read More

Cost Of Governance Leaps To N3.516t From N2.593t In 2015 - The cost of running governance at the federal level has steadily grown from N2.593t in 2015, when the current administration came into office, to N3.516t at the end of the 2018 fiscal year, as revealed by figures from the Budget Office of the Federation obtained by The Guardian. Source Guardian Read More

World's Central Banks Launch Green Bonds Fund - Central bankers have launched an investment scheme or mutual fund to aggregate investments in green bonds. The new global green bond fund came as Nigeria made commitments to issue more green bonds to finance its climate change initiatives. Source TheNation Read More

FG Announces Fresh Plans For 215MW Kaduna Power Plant - The Federal Government at the weekend announced fresh plans to restream the 215MW Kaduna power plant. Minister of State for Power, Mr. Goddy Jeddy Agba, stated this during a facility tour of Greenville LNG Plant and Dufil Prima Foods in Port Harcourt, Rivers State. Source Thesun Read More

 

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PROSHARE REGULATORS

Between CBN And BVN Defaulters - With about 38.5 million bank accounts already linked to the Bank Verification Number (BVN), according to the Nigerian Interbank Settlement Scheme (NISS), a lot has been achieved in a bid to curb illegal banking transactions in the country in addition to reducing incidence of corruption. Source Thisday Read More

Cashless Policy: CBN Clarifies Transactions at Agent Locations - The central bank also said they would constantly take proactive measures to curb e-payment fraud by continuous collaboration with banks as well as capacity building for financial institutions fraud departments. Source Thisday Read More

 

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PROSHARE MARKETS

GUARANTY Announces Board Meeting For The Approval Of Its Q3 2019 Unaudited Financial Statements - Guaranty Trust Bank Plc hereby informs you that the Board of Directors of the Bank is scheduled to consider the Unaudited Financial Statements for the third quarter ended September 30, 2019 on October 16, 2019. Source NSE Read More

Market Review and Round-Up of Corporate News Announced During  The Week Ending 270919 - The equities market recorded mixed performance - the listed equities market recorded -0.09% loss WoW while the NASD OTC recorded +0.13% gain WoW. Source Proshare Markets Read More

GUARANTY Announces Its Closed Period For Q3 2019 - GTBank hereby informs of the scheduled commencement of the closed period for trading in the Bank's shares on September 30, 2019, in respect of the Unaudited Financial Statements for the third quarter ended September 30, 2019. Source NSE Read More

South Africa's Economy in Q2-19: Fragile Still? - Recently, the South African Reserve Bank (SARB) published its Q2-19 statistical bulletin. According to the report, real economic activity rebounded during the period, up 3.1% q/q and 0.9% y/y in Q219 compared -3.1% q/q and 0.0% y/y in Q1-19. Source United Capital Read More

NASD OTC Market CAP Increased By 0.14% WoW To Close At N506.6bn - As at close of trade week on 27 September 2019, market Capitalisation increased to N506.60billion from last week's previous N505.91 billion, which shows a 0.14 % decrease in Capitalisation. Source NASD Read More

How Imminent Is A Naira Devaluation? - The naira has witnessed relative stability, moving within a narrow band of N359-N370/$ since mid-2017. This period of naira stability was preceded by the introduction of the Investors and Exporters FX window in April 2017 and supported by a notable recovery in global oil price (2017 Brent price: +16.0% YoY to $54.77/barrel), following the collapse of the latter in 2016. Source CardinalStone Read More

What To Expect From The Markets This Week - 300919 - This week, the third reading of the U.S' Q2-19 GDP was released. Although the economic growth number was unrevised at 2.0% y/y, business investment (-1.0% y/y) contracted deeper than previous estimates (-0.6% y/y). It is instructive to highlight that the contraction in business spending was the sharpest since Q4-15. Source Proshare Read More


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PROSHARE BUSINESS

Copyright Protection and Enforcement Rules - Legal Alert - Copyright Protection is very important to every country's economic development as such protection motivates and promotes research, creativity and innovations. Source Oserogho & Associates Read More

Attempted E-Payment Fraud Falls By 47.28% - The record of attempted fraud cases in the electronic payment system declined by 47.28 per cent in the second quarter of 2019. The Director, Payment System Management Department, Central Bank of Nigeria, Mr Sam Okojere, disclosed this during the second general meeting of the Nigeria electronic fraud forum for 2019 in Lagos. Source Punch Read More

Nigeria's Exports Rise By N10.57tn In Two Years - Nigeria's exports between 2016 and 2018 witnessed a significant rise. However, the dominance of crude oil in the nation's exports sector raises concern among experts, Anna Okon reports. The value of Nigeria's exports rose by N10.56tn between 2016 and 2018, reflecting an increase of 123.8 per cent over the period of two years. Source Punch Read More

NNPC, Shell To Evaluate 35,000bpd OML 25 Damage - The joint venture partners in the 35,000 barrels per day Oil Mining Lease 25 are to evaluate the damage done on OML 25, the Group Managing Director, Nigerian National Petroleum Corporation, Mele Kyari, has said. JV partners in OML 25 include NNPC and Shell Petroleum Development Company. Source Punch Read More

$9.6bn UK Judgement: FG Goes After P&ID Foreign Allies - After arraigning and securing the conviction of some Nigerians, the federal government has set machinery in motion to apprehend and prosecute their foreign collaborators in the gas supply contract purportedly awarded to a British Virgin Island firm, Process and Industrial Development Limited (P&ID) in 2010. Source Leadership Read More

Nasdaq Cracks Down On IPOs Of Small Chinese Companies - Nasdaq Inc (NDAQ.O) is cracking down on initial public offerings (IPOs) of small Chinese companies by tightening restrictions and slowing down their approval, according to regulatory filings, corporate executives and investment bankers. Source Reuters Read More

 

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PROSHARE TECHNOLOGY  

Banking Sector Records 711.29m Volume Of Transactions in Q2 2019 - NBS - A total volume of 711,299,990 transactions valued at N40.48trn were recorded in Q2 2019 as data on Electronic Payment Channels in the Nigeria Banking Sector revealed. Source NBS Read More 

 

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PROSHARE FINANCE

Insurance September 2019 Edition Holds in Abuja, As Stakeholders Explore Growth of the Industry - One of the key event witnessed in the insurance sector during the week September 23rd to 27th, 2019 was the 'Insurance September' - an annual event that brings together stakeholders in the Nigerian insurance industry. Source Proshare Read More 

Travel, Tourism Boost Africa's GDP By 8.5%  - Travel and tourism remained one of the key growth drivers of Africa's economy, contributing 8.5 per cent of its Gross Domestic Product (GDP) last year. This is equivalent to $194.2 billion, according to  2019 Jumia Hospitality Report Africa. Source TheNation Read More

 

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