Nigeria in 1min: Economic, Business and Financial Headlines 210819


Wednesday, August 21, 2019 / 06:35 AM / By News Aggregator / Header Image Credit:  @nsenigeria

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Nigerias Inflation Lower But The Storms Are Gathering - Food Import Restriction Yet To Bite - The National Bureau of Statistics (NBS) released July inflation numbers on Friday. As was widely anticipated, it declined by 0.14% to 11.08%. Nigeria is now the country with the 8th highest inflation in the African continent. In the region, average inflation in 2019 is projected to be 8.4%. Source FDC Read More

Personal Statements By The MPC Members At The 125 MPC Meeting Of July 22-23, 2019 - Very much like the previous meeting, the July 2019 meeting of the Monetary Policy Committee (MPC) held against the backdrop of continued stability in key domestic economic and financial system indicators relative to 2018. Source CBN Read More

Oil Markets On Edge Over Trade War Uncertainty - OIR 200819 - Oil prices rose slightly on Monday after a Houthi drone attack on a Saudi oil field led to concerns about geopolitical unrest. That trend reversed on Tuesday however after Secretary of State Mike Pompeo issued harsh comments about Huawei and the threat of China. Source Oil price Read More

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Investors Lose N27.91bn As NSEASI Dips By -0.21% Amid Renewed Sell Pressure - Equities market closed today on a negative note, as NSEASI depreciated by -0.21% to close at 27,058.62 points as against +0.71% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -13.91%. Source Proshare Read More 

OANDO, MORISON And 82 Others Record Drop In Share Price In Ten Years - As market YTD performance remained in the negative territory with -13.73% YTD loss recorded as at the end of trading on August 19th, 2019, a quick review of stock prices in the last ten (10) years reflected that most stocks are trading at their lows. Source Proshare Read More

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Ghana Shutdown of Second-Tier Lenders Seen Risking 4,000 Jobs - The regulatory cleanup of Ghanas lower-tier lenders that resulted in 23 companies being declared insolvent and losing their licenses could risk as many as 4,000 direct jobs, according to an industry body. Source Bloomberg Read More

Caution Grips Asian Shares Before Fed Minutes, Seminar - Asian shares flatlined on Wednesday as worries about global recession and endless trade wars vied with hopes for a lot more monetary and fiscal stimulus to keep growth going. Source Reuters Read More

Trump Looking At Possible Tax Cuts Amid Economic Jitters - President Donald Trump said on Tuesday his administration was considering potential tax cuts on wages as well as profits from asset sales, and sought to play down market anxieties that the worlds top economy could be heading for a recession. Source Reuters Read More

Banks Suffer N100bn Bad Loans In Power Sector - A total of N100.42bn loans advanced by the nations banks to power firms have been recorded as non-performing, the latest data from the National Bureau of Statistics have shown. The power and energy sector, out of 22 sectors/business lines, accounted for the fifth biggest share of banks’ N1.69tn non-performing loans as of April 30. Source Punch Read More

Diaspora Remittances To Hit $34.89b, Says PwC - Diaspora remittances to Nigeria could grow to $25.5 billion, $29.8 billion and $34.8 billion in 2019, 2021 and 2023, PricewaterhouseCoopers (PwC) Limited has said. In its latest White Paper Series titled: Strength from Abroad: The Economic Power of Nigerias Diaspora, it said over a 15-year period, it expects total remittance flows to the country to grow by almost double in size from $18.37 billion in 2009 to $34.89 billion in 2023. Source TheNation Read More


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Fintech Association of Nigeria Set to Host the Nigeria Fintech Week - The managements of Fintech Association of Nigeria and the Fintech Associates Ltd in continuation of the National Fintech Conference series will in Q4 2019 host the Nigeria Fintech Week. Source FintechNGR Read More 

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