Nigeria in 1min: Economic, Business and Financial Headlines – 010219

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Friday February 01, 2019 / 7:00 AM / Proshare News

 

 

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PROSHARE ECONOMY

Manufacturing PMI Stands at 58.5% in January 2019 from 61.1% in December 2018 - The January 2019 PMI survey was conducted by the Statistics Department of the Central Bank of Nigeria during the period January 14-18, 2019. Source CBN Read More 

FG Approves Institutional Support For 60 Local Oil Companies - The Federal Government on Thursday unveiled 60 indigenous oil and gas companies which had been approved to get institutional support from the Federal Ministry of Petroleum Resources, agencies under the FMPR, as well as from other players in the oil sector. Source Punch Read More 

Immunisation: FG, Bill Gates Foundation Sign $75m Financing Agreement - The federal government on Tuesday gave further impetus to childhood immunisation with the signing of a $75 million financing agreement between it and the Bill & Melinda Gates Foundation. Source Thisday Read More 

Government Policies, Targets are Very Realistic, Says Ahmed-Minister of Finance, Mrs. Zainab Ahmed, was recently in Lagos, to defend Federal Government’s financial and economic policies with a view to enhancing growth and development. Source Guardian Read More

AFEX Nigeria: New Year Goals For The Commodities Market - After all the reflection and measurements that come with a year ending and a new year beginning, AFEX Nigeria is now re-energized to continue pursuing some long held goals that its business was set up to attain as well as some others that have joined its line-up of impact as the commodity exchange has grown as an organization.  Source Afex Nigeria Read More


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PROSHARE REGULATORS 

SEC Sets 7-Year Timeline to Revive, Develop Commodities Market – The Securities and Exchange Commission, SEC, and other stakeholders in the commodities ecosystem have set a seven year timeline to revive the commodities market in Nigeria through the Nigerian Commodity Exchange, NCX, and set it at par with other commodity exchanges in other parts of the world. The restructuring will be concluded in 2025. Source Vanguard Read More

 

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PROSHARE MARKETS

Bond Auction Rates Clear Lower With Increased Demand on the 10-yr - The Bond market traded on a relatively flat note, with yields compressing marginally by c.1bp on the back of slight demand on the 22s and 36s. Source Zedcrest Capital Read More  

FIDSON Obtains SEC Approval to Issue a Revised Rights Issue Circular - Further to the Market Bulletin with Reference Number: NSE/RD/LRD/MB2/18/07/05, dated 5 July 2018 on the above subject matter, Dealing Members are hereby notified that Fidson Healthcare Plc (the Company) has obtained the approval of the Securities and Exchange Commission (SEC) to issue a revised Rights Circular with respect to its Rights Issue. Source NSE Read More 

An Overview of AI for Wealth Management – What’s Possible Today? - According to a 2017 report by the Financial Stability Board, artificial intelligence (AI) and machine learning firms managed assets of over $10 billion in 2017, with further growth projected in the next five years. Source Raghav Bharadwaj of Emerj Read More 

Summary of January 2019 FGN Bond Auction Results - Auction Result for the 12.75% FGN APR 2023 (Re-opening 5-year Bond), 13.53% FGN MAR 2025 (Reopening 7-Year Bond) & 13.98% FGN FEB 2028 (Re-opening 10-Year Bond). Source DMO Read More 

Investors Lose N219.32bn As NSEASI Closes Below 31,000bpts - Equities market closed today on a negative note, as NSEASI depreciated by -1.89% to close at 30,557.20basis points as against -0.11% depreciation recorded previously. Source Proshare Read More 

Massive Rally on Eurobonds as US FED Strikes Dovish Tone - The Bond market remained slightly bullish on the back of sustained demand on the 2028 bond which compressed by c.15bps (1ppt) on the day. Source Zedcrest Capital Read More

Forty-Six Financial Services Stocks Are Penny Stocks in 2018 - Currently, there are 118 stocks that are classified as penny stocks as at 17th December, 2018. These are stocks trading below the share price of N5.00. Source Proshare Read More

 

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PROSHARE BUSINESS  

A Guide to Investing in Nigeria by Toyin F. Sanni – The Official Launch - In pursuit of its leadership role and its mission to catalyze the emergence of Nigeria and other African markets as leading investment destinations, the Emerging Africa Capital Group has enlisted the support of the Nigerian Stock Exchange to host the launch of an authoritative work on investing in Nigeria written by its Group Chief Executive Officer, Toyin F. Sanni titled “Riding the Eagle – A Guide To Investing In Nigeria”. Source Press Release Read More 

Kano Judiciary Launches Small Claims Court for Prompt Resolution of Commercial Disputes for SMEs - The Kano State Judiciary in collaboration with the Presidential Enabling Business Environment Council (PEBEC) has inaugurated a Small Claims Court in Kano. Source PEBEC Read More 

Leather Industry To Generate $1bn By 2025 —NESG - The Nigerian leather industry has been projected to generate over $1 billion by 2025, the Nigeria Economic Summit Group (NESG) stated in its 2019 macro-economic outlook report. Source Vanguard Read More 

Shippers Council Commences Registration of Port Service Providers - In a bid to checkmate quackery in the Nigerian maritime industry, the Nigerian Shippers’ Council, NSC, yesterday, commenced registration of port service providers aimed at regulating their activities.  Source Vanguard Read More

Trump to Meet with China's Xi to Try to Teal Trade Deal, Progress Reported - U.S. President Donald Trump said on Thursday he will meet with Chinese President Xi Jinping soon to try to seal a comprehensive trade deal as Trump and his top trade negotiator both cited substantial progress in two days of high-level talks. Source Reuters Read More

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PROSHARE TECHNOLOGY

The Increasing Accessibility of AI in Business - In this installment of the Zeitgeist series, we’ll be talking about how artificial intelligence technologies will become more accessible to businesses and non-technical employees. Source Emerj Read More 

Berkshire Partners To Invest In Teraco Data Environments - Teraco Data Environments, African provider of colocation data centre infrastructure, has announced that Berkshire Partners LLC, a Boston-based investment firm, has entered into a definitive agreement to acquire a majority stake in the company. Source AfricaTech Read More

 

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PROSHARE FINANCE

Enterprise Adoption of AI in Insurance - An Overview - The insurance sector is highly competitive, and there seems to be a consensus among experts that customers in the industry favor insurance products that are tailored to their unique needs. Source Raghav Bharadwaj Read More 

NAICOM Suspends Guinea Insurance Over Governance Concerns - The National Insurance Commission (NAICOM) has suspended Guinea Insurance Plc from doing new businesses, it was gathered on Wednesday. Source The Nation Read More 

LIRS Extends the Deadline for Filing 2018 PAYE Returns - The Lagos State Internal Revenue Service (LIRS) has extended the statutory deadline for employers to file their annual Pay-As-You-Earn (PAYE) tax returns by six working days from 31 January 2019 to Friday 8 February 2019. Source KPMG Read More 

 

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