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Nigeria in 1min: Economic, Business & Financial Headlines - 220317

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March 22, 2017 6:40 AM / Proshare News  

PROSHARE ECONOMY
FAAN, Cross River government declare Calabar airport unsafe for planes - Following alleged illegal activities around the Margaret Ekpo International Airport, the Federal Airport Authourity of Nigeria (FAAN) and Cross River State government have declared that the airport is no longer safe for planes to land. Source Guardian Read More 

FG unveils accounting software for financial discipline - The Federal Government on Tuesday unveiled an accounting software known as OneBook to ensure financial discipline among the three tiers of government. Source Punch Read More 

Nigeria ranked 152 out of 188 in development index — UN - Nigeria’s Human Development Index (HDI) value for 2015 is 0.527- which put the country in the low human development category, positioning it at 152 out of 188 countries and territories. Source Daily Trust Read More 

FG issues license for new commercial helicopter services - A new Helicopter company, Genesis Global Aviation (GGA) was yesterday issued Air Operation Certificate (AOC) to enable it operate commercial helicopter services in the country. Source Daily Trust Read More 

Auto duty: Customs rolls out code for clearance verification - The Comptroller-General of Customs, Col. Hameed Ali (Rtd) yesterday announced a short code that allows dealers and owners of vehicles to verify their duty clearance status. Source Daily Trust Read More 

ISPS Code: 31 Nigerian Ports, Jetties Unsafe – NIMASA - About 31 ports, jetties and terminals in Nigeria are currently not yet compliant with the International Ships and Facilities Security (ISPS) Code, thereby making them unsafe for marine operations. Source Leadership Read More

Senate summons Emefiele over intervention fund - The Senate yesterday summoned the Central Bank of Nigeria( CBN) Governor, Mr Godwin Emefiele over Federal Government’s intervention funds designed to get the economy out of recession. Source THE NATION Read More 

 PROSHARE REGULATORS
CBN Communiqué No. 112 of the MPC Meeting – Mar 20-21, 2017 - The Monetary Policy Committee met on the 20th and 21st of March, 2017, against the backdrop of persistent uncertainty in the global economy, stemming from economic and socio-political developments around the world. Source Proshare Read More 

PROSHARE MARKETS
Equities Market Halts Five-Day Uptrend as MPC Maintains Status Quo - Equities market closed today on a negative note, as NSE ASI depreciated by 0.44% to close at 25,558.57 basis points, as against 0.07% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -4.90%. Source Proshare Read More  

MPC Commentary - When Time Consistency Becomes a Different Kind of Problem - The monetary policy committee at the end of its second meeting in the year 2017, concluded to play the familiar do nothing card. Thereby leaving the monetary policy rate and cash reserve ratio static at 14% and 22.5% respectively. Also keeping the liquidity ratio at 30% and it is asymmetric corridor un-tweaked at +200 to -500 around the MPR. Source Proshare Read More

51.72m Bank Customers Enrolled on BVN as at February - The total number of bank customers that now have Bank Verification Number (BVN) has increased to 51.72 million as at February 2017. Source Thisday Read More 

Oil slides on output cut extension talk - Oil prices yesterday fell close to its lowest in a week as the market discounted the latest talk by  the Organisation of Petroleum Exporting Countries (OPEC) that it would extend output cuts beyond June. Source THE NATION Read More 

 

PROSHARE BUSINESS
Atedo Peterside resigns as Stanbic IBTC chairman -Atedo Peterside has resigned from the board of Stanbic IBTC Bank Plc as the chairman.He served as the chief executive of the bank from inception in 1989 and until the merger that created Stanbic IBTC Bank Plc in 2007; and as chairman thereafter. Source Proshare Read More 

U.S. firm seeks $561 million from Tanzania in power supply dispute - Symbion Power is seeking $561 million from Tanzania's state power supplier TANESCO via international mediation, accusing it of breach of contract, the U.S. firm said on Tuesday. Source Reuters Read More

World bank disburses another $1 billion loan to Egypt - The World Bank has disbursed another $1 billion in financial assistance to Egypt out of its $3 billion loan programme with the country, the bank said in a statement on Monday. Source Reuters Read More

Nigeria has floated naira "within a range"-cbank gov -  Nigeria has floated the naira "within a range" against the dollar, central bank governor Godwin Emefiele said on Tuesday. Source Reuters Read More

Morocco's central bank keeps interest rate at 2.25 pct - Morocco's central bank said on Tuesday it was holding its benchmark interest rate unchanged at 2.25 percent and that it expects economic growth to reach 4.3 percent due to a recovery in agricultural output. Source Reuters Read More 

Big Oil’s Plan to Buy Into the Shale Boom - Exxon Mobil Corp., Royal Dutch Shell Plc and Chevron Corp., are jumping into American shale with gusto, planning to spend a combined $10 billion this year, up from next to nothing only a few years ago. Source Bloomberg Read More

U.K. Joins U.S. Ban on Laptops in Cabins on Some Mideast Flights - The U.K. joined the U.S. in banning laptops and other electronic devices in airplane cabins on flights from several Middle Eastern countries amid concerns over security. Source Bloomberg Read More

Ivory Coast Said to Face $327 Million in Losses Over Cocoa Deals - Ivory Coast’s cocoa regulator is facing losses of more than 200 billion CFA francs ($327 million) after local exporters defaulted on their contracts because they wrongly speculated that prices would rise, according to a person familiar with the matter. Source Bloomberg Read More

Saudi Aramco Plans $2 Billion Debut Bond Ahead of IPO - Saudi Arabian Oil Co. is seeking to raise about $2 billion in its debut bond sale, the first step of a plan by the energy giant to tap markets for $10 billion, according to people familiar with the matter. Source Bloomberg Read More

PROSHARE FINANCE
Akinkugbe, Awoyemi charge young Nigerians on investments and wealth management - Financial expert Mrs Nimi Akinkugbe and notable financial analyst Mr Olufemi Awoyemi today charged young Nigerians, to explore opportunities in investments, savings and wealth management, which was critical to shaping their lives, career and families. Source Proshare Read More  

PROSHARE TECHNOLOGY
Another Drop in Internet Subscriptions; Contracts by 4.7% in January - The latest data released by the NCC, the industry regulator, show that internet subscriptions stood at 91.3 million in January, representing a y/y contraction of -4.7%.Source Proshare Read More

   

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