Nigeria in 1min: Economic, Business and Financial Headlines – 040419

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Thursday, April 04, 2019 / 7:00 AM / By News Aggregator / Header Image Credit: @InvestKaduna

 

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PROSHARE ECONOMY

AFEX Partners Proshare For a Twitter Chat on the Agricultural Commodities Market - AFEX - Nigeria’s first private commodities exchange firm and leading player in the Sub-Saharan African Commodities value-chain in partnership with Proshare - Nigeria’s leading financial information hub, is set to hold an interactive twitter chat on April 17th, 2019. Source Proshare Read More 

Cocoa Prices Up By 0.48% Despite Forecasts of Increased Global Production - Onion, a global kitchen staple is a vegetable with multiple health benefits. It contains various vitamins, minerals and potent plant compounds and antioxidants such as flavonoids that fight inflammation, decrease triglycerides and reduce cholesterol levels. Source FDC Read More 

IMF Executive Board Concludes 2019 Article IV Consultation with Nigeria - On March 27, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with Nigeria. Source IMF Read More 

FEC Approves N5.5bn to Train 12,000 Unemployed Youths-The Federal Executive Council has approved N5.5 billion for the training of 12,000 unemployed youths under the Federal Government’s N-Power Programme, according to the Minister of Budget and National Planning, Senator Udoma Udo-Udoma. Source Punch Read More 

IMF: Nigeria’s Tight Monetary Policy Stance Appropriate - The International Monetary Fund (IMF) has endorsed the Central Bank of Nigeria’s restrictive monetary policy, saying it is appropriate for the Nigerian economy at this time. Source Thisday Read More 

Nigeria’s Foreign Exchange Restrictions Stalling Investments — IMF -  The International Monetary Fund (IMF) on Wednesday criticised the monetary policy stance of the Central Bank of Nigeria (CBN) on foreign exchange restrictions. Source Premium Times Read More 

Why FG couldn’t Achieve 2018 Revenue Target –Udoma -  The Minister of Budget and National Planning, Senator Udo Udoma, explained why the Federal Government could not achieve its 2018 revenue target, stating that some one-off items listed for implementation in the fiscal year could not be actualised. Source Punch Read More 

Nigeria Ignores OPEC Quota Again, Boosts Crude Oil Production - For the third consecutive month, Nigeria failed to comply with the new quota given by the Organisation of Petroleum Exporting Countries as it produced far in excess of its cap. Source Punch Read More 

 

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PROSHARE REGULATORS

SEC Extends Deadline On Issuance Of Dividend Warrants And Free E-Dividend Registration Exercise To D - We refer to the circular dated 29thJune 2017 issued by the Securities and Exchange Commission (“the Commission”) on the above subject matter. Source SEC Read More 

 

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PROSHARE MARKETS

The March 2019 Nigerian Capital Market Service Report – Proshare - Nigerian Stock Market closed the month of March 2019 down as NSEASI dipped by -2.14% as against +3.81% gain recorded in the month of February 2019 while the NASD USI closed in green with +3.07% gain recorded at the end of the month under review as against -0.95% loss in February 2019. Source Proshare Read More

Funding Rates Spike as CBN Resumes OMO with c.N325bn Sale - The FGN Bond market remained relatively quiet with yields ticking slightly higher by c.3bps following slight sell on the short end of the curve which came on the back of an OMO resumption by the CBN. Source Zedcrest Capital Read More 

FCMB Group Q4 2018 Results Review: No FX Gains to Flatter 2019E Earnings - FCMB Group’s Q4 2018 pre-tax earnings came in well behind our forecast mainly because of a negative surprise in non-interest income. Source FBNQuest Research Read More 

NSEASI Dips By -1.85% As Sell Pressure Persists - Equities market closed today on a negative note, as NSEASI depreciated by 1.85% to close at 29,668.73basis points as against 0.99% depreciation recorded previously. Source Proshare Read More

UBN Declares N18.09 billion PAT in 2018 Audited Results; Grows PAT by 39.1%(SP:N6.65k) - Union Bank of Nigeria announces its audited financial statements for the year ended 31st December 2018. Source NSE Read More

FO Declares N361mln PAT in Q4 2018 Result,(SP:N24.95k). Source NSE Read More

 

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PROSHARE BUSINESS 

EU Would Begin Customs Controls Right After No-deal Brexit-The European Union will immediately introduce customs checks and import duties in the event of a “no deal” Brexit, erecting barriers to British exports ranging from cars to farm produce and preventing consumers bringing in British cheese or meats. Source Reuters Read More

Global E-Commerce Sales Surge To $29 Trillion - Global e-commerce sales grew by 13 per cent in 2017, hitting an estimated $29 trillion, according to the latest numbers released by the United Nations Conference on Trade and Development (UNCTAD). Source Guardian Read More 

 

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PROSHARE TECHNOLOGY

South Korea Rolls out 5G services on Phones, in Race with U.S. and China - South Korea will become one of the first countries to commercially launch fifth-generation (5G) services as it rolls out on Friday the latest wireless technology with Samsung Electronics’ new 5G-enabled smartphone Galaxy S10. Source Reuters Read More 

Poor Infrastructure, Low Penetration Bane Of ICT Sector – Minister - The Nigerian Internet environment is characterised by poor infrastructure and low broadband penetration, Minister of Communications, Mr Adebayo Shittu, has said. Source Punch Read More 

 

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PROSHARE FINANCE

Insurance In Nigeria: Approaching 2020 Without Digital Solutions? - Experience, locally and globally, reveals that when you desire to satisfy your customers, you RESPOND to their complaints and suggestions but when you intend to excite (wow) them, you go beyond their expectations and imaginations! Source Ekerete Ola Gam-Ikon MNIM, CPP Read More

 

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