Nigeria in 1min: Economic, Business and Financial Headlines 200819

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Tuesday, August 20, 2019 / 7:00 AM / By News Aggregator / Header Image Credit: @NigeriaGov

 

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PROSHARE ECONOMY

FIRS Issues Final Demand Notice To Companies Whose Bank Accounts Are Under Lien - This is to notify all Companies, which had their Bank Accounts placed under Lien by the Federal Inland Revenue Service (FIRS) pursuant to Section 31 of the FIRSE Act, but are yet to regularise their tax status with the FIRS. Source FIRS Read More

South-West Tops Domestic Debtors’ List With N1.04tn - Statistics obtained from the Debt Management Office on Monday showed that the geopolitical zone was exposed to a domestic debt of N1.04tn as of March 31. The statistics also showed that the six geopolitical zones of the country were exposed to a total domestic debt of N3.97tn as of March 31. Source Punch Read More

Power Generation Drops To 3,014.8MW As FG Loses N92.28b In 49 Days -  Power output from Nigeria’s generating companies (GenCos) dropped to 3,014.8 megawatts (MW), yesterday from a monthly average of 3,578MW in August, latest data from the National Control Centre (NCC), Osogbo, has shown. Source Guardian Read More

Oil Rises After Drone Attack On Saudi Field - Crude oil prices rose on Monday following a weekend attack on a Saudi oil facility by Yemeni separatists and as traders looked for signs that Sino-US trade tensions could ease. Price gains were, however, capped to some degree by an unusually downbeat OPEC report that stoked concerns about growth in oil demand. Source Dailytrust Read More

 

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PROSHARE REGULATORS

CBN: Npls Rate Drops To 9.6% In 40 Months - Commercial Banks  Recorded Their First Single Digit Non - Performing Loans (NPLs) rate of 9.36 per cent in 40 months, Central Bank of Nigeria (CBN) Deputy Governor, Financial System Stability, Mrs. Aishah Ahmad, has said. In her statement in the last Monetary Policy Committee (MPC) meeting in Abuja released yeatreday, she said  the  banking industry soundness indicators remain positive with NPL ratios turned single digit at 9.36 per cent in June 2019 for the first time in 40 months. Source TheNation Read More

 

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PROSHARE MARKETS

CBN To Expand List Of FX Restrictions On Imported Items - The Central Bank of Nigeria Governor Mr Godwin Emefiele has given the indication that the CBN will expand the list of imported items that are restricted from accessing forex  in the country. Source Proshare Read More

Greenwich Trust Lists Greenwich Alpha ETF On NSE - Greenwich Alpha is an open-ended ETF that tracks the NSE 30 Index; an index which constitutes 30 of the most liquid and capitalized stocks trading on the Exchange. It is designed for investors to access the constituent companies of the NSE 30 index, thereby getting the performance of the index. Source NSE Read More 

Investors Gain N92.88bn As NSEASI Inches Up By 0.71% To Open The Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by +0.71% to close at 27,115.89 points as against -0.47% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -13.73%. Source Proshare Read More 

Afrinvest Stock Recommendation For The Week 190819 - The performance of the local bourse was bearish last week as the benchmark All Share Index (ASI) shed 1.4% W-o-W to settle at 26,925.29 points while YTD loss worsened to -14.3%. As a result, investors lost N185.9bn in value as market capitalisation fell to N13.1tn. Source Afrinvest Read More 

Negative Sentiment Sustained On ETI As Share Price Hits 52-Week Low of N6.00K; Declines By 57.14% YTD - Ecobank Transnational Incorporated (ETI) has seen its share price fell by 15% in three days of aggressive trading activity by traders taking strategic positions in the stock. The bank’s share price dipped from N7.00 on Wednesday 14, August 2019 to N6.00 per share on Friday 16, August 2019.  Source Proshare Read More

CBN Records N112bn Oversubscription On T-Bills Auction - The Central Bank of Nigeria has recorded an oversubscription of N112.15bn on its last Treasury Bills auction. The CBN offered a total of N34.38bn worth of T-bills across the 91-day, 182-day and 364-day tenors. Source Punch Read More

 

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PROSHARE BUSINESS

Auditor-General Indicts Presidency, EFCC, NASS - Almost all Ministries, Departments and Agencies (MDAs) have been indicted for financial wrongdoings in the latest fiscal assessment of the country. Source Guardian Read More

Worries As Trump Cancels Aviation Safety Initiative For Nigeria, Others - President Donald Trump’s cancellation of the Safe Skies Africa initiative for Nigeria and other countries has raised fresh concerns for safety in local air travel, especially the sustenance of gains already made. Source Guardian Read More

 

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