Nigeria in 1min: Economic, Business and Financial Headlines – 051018

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Friday October 05 , 2018 / 7:00 AM / Proshare News


PROSHARE ECONOMY

S and P To Lower ETI Ratings If Significant Increase in Double Leverage Above 120% Is Noticed-We expect Ecobank group's financial performance to gradually improve over the next 12-24 months on the back of more stable macroeconomic conditions in key markets of operations. Source Proshare Read More

NLC Strike, Minimum Wage Issues and Nigeria’s Economy-The Nigerian Labour Congress the major trade union of Africa’s largest economy, on Sunday September 03, 2018 called off its warning nationwide strike. Source Proshare Read More

No Stability, No Democracy Bumpy Road Ahead - Fasten Your Seat Belts – LBS EBS - Oct 2018 - At the end of Q3 2018, the market was down 5.97% with Average Daily Trading Volume (ADTV) down 32%.  He was particularly pained, because according to him, there was no reason for such an avoidable bloodbath, as earnings were just beginning to recover and investors were finding some optimism again. Source Proshare Read More

Nigeria’s oil, gas export sale rises by 36% - The Nigerian National Petroleum Corporation on Thursday announced total crude oil and gas export sale of $416.07m for June 2018, which was 35.78 per cent higher than what was recorded in the previous month. Source Punch Read More

FG generates N3.9tn tax revenue in nine months - The Federal Government realised N3.9tn in tax revenue between January and September this year and this is N1tn higher than the N2.9tn realised in the corresponding period of 2017. Source Punch Read More

Rail passengers’ revenue rises to N435.97 million - Latest statistics from National Bureau of Statistics (NBS) has revealed that a total of N435.97 million was generated as revenue for passenger travel in the second quarter (Q2) of the year against N435.95 million in Q1. Source Guardian Read More

EU-Nigeria trade volume hits N8.9trn - The total trade volume between Nigeria and European Union Member States stood at 25.3 billion Euros (about N8.9 trillion) in 2017. Source Vanguard Read More

 

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PROSHARE MARKETS

Seplat Eurobond Surges amid Uptrend in Oil Prices-The Bond Market remained slightly bullish in today’s session with demand shifting towards the longer end of the curve, where market players bought down the 2034s as low as 15.02%. Source Proshare Read More

NSE Proposes Rule for Listing of Green Bonds on The Exchange-The following proposed Rules and Rule Amendments, are exposed for comments. Your participation is required by way of reviewing the proposed Rules and Rule Amendments, and providing your comments thereon. Source Proshare Read More

Technology as a bedrock of Customer Engagement-Technology has become an indispensable part of modern living, from personal computers to smart phones, all the way up to LED screens and social media platforms. Source Proshare Read More

Nigeria’s Equities Market Extends Losing Streak as NSEASI Dips Further by -0.09%-Equities market closed today on a negative note, as NSEASI depreciated by -0.09% to close at 32,423.57 basis points as against -0.79% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -15.22%. Source Proshare Read More

CBN Seeks to Charge MTN 15% Interest on $8.134bn Refund - The Central Bank of Nigeria (CBN) has said MTN Group Limited should not be given an injunction that will stop the telecom company from refunding the $8.134 billion the apex bank had alleged that MTN illegally repatriated from the country. Source Guardian Read More

Forex: CBN Boosts Market With $210M - Figures obtained from the CBN on Wednesday, October 3, 2018, indicate that authorized dealers in the wholesale segment of the market were offered the sum of $100million, while the Small and Medium Enterprises (SMEs) segment received the sum of $55 million. Source Proshare Read More

Global Markets: Rising U.S. bond yields hit global markets, Asian stocks wobble -  Asian shares wobbled on Friday after benchmark U.S. Treasury yields surged to a fresh seven-year high and strong economic data fanned concerns about inflation and the risk of faster-than-expected interest rate rises. Source Reuters Read More


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PROSHARE REGULATORS

CBN Mops up System Liquidity in c.N553bn OMO Sale-Yields in the bond market compressed marginally by c.1bp, with slight buying interests still evident on select maturities during the day. Source Proshare Read More

Forex: CBN Boosts Market With $210M - The Central Bank of Nigeria (CBN) has again injected the sum of $210 million into the inter-bank Foreign Exchange Market. Source Proshare Read More

Naira abuse: CBN to try offenders in mobile court - Speaking on the currency abuse, the Director, Corporate Communications Department, Central Bank of Nigeria, Mr Isaac Okorafor, said that anyone found squeezing, hawking, spraying or trampling on naira notes at any ceremony would be arrested and tried at the mobile courts. Source Punch Read More

Financially excluded a minus to our GDP, says SEC - Securities and Exchange Commission (SEC) has lamented the non-participation of the grassroots in the financial sector, saying this has affected the Gross Domestic Product (GDP) of the country. Source Nation Read More

CIS reiterates commitment to rescuing economy - Speaking at the Institute’s 22nd Annual conference in Lagos yesterday, Adekoje maintained that the institute, in synergy with other capital market players, is poised to do everything possible to revamp the economy from socio-economic woes. Source Sun  Read More

 

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PROSHARE BUSINESS

The Doing Business in Nigeria Conference 2018-The Doing Business in Nigeria Conference held on 2nd October 2018 at the Lagos Court of Arbitration, Lekki, Lagos. Source Proshare Read More

CAC Reduces Cost of Business Name Registration to N5,000 for 90 Days-The Corporate Affairs Commission (CAC) has announced a reduction in the cost of business name registration. Source Proshare Read More

‘Poor corporate governance ruined Nigeria Air, 40 other airlines - The experts, who spoke at the quarterly breakfast meeting of the Aviation Safety Round Table Initiative (ASRTI) in Lagos, observed that while over 40 airlines had already collapsed in the last 17 years, some of the surviving seven local firms and the proposed Nigeria Air were not immune to the same problem. Source Guardian Read More

BoI Dsburses N2.8 Billion to MSMEs in Kaduna - The Managing Director/Chief Executive, Bank of Industry (BoI), Mr. Olukayode Pitan yesterday disclosed that the sum of N2.8 billion had been disbursed to entrepreneurs in Kaduna State. Source Thisday Read More


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PROSHARE TECHNOLOGY

Google Launches Certification Programme in Nigeria - The certification programme brings together Google and advertising agencies, digital marketing agencies, and other online consultants who manage AdWords accounts. Source Thisday Read More


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