Nigeria in 1min: Economic, Business and Financial Headlines – 051118

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Monday 05, 2018 / 7:00 AM / Proshare News

 

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PROSHARE ECONOMY

Three (3) Commercial Banks Fall Short of The Minimum Regulatory Liquidity Ratio of 30% – CBN-The health of banks improved in the review period, following the sustained recovery in macroeconomic conditions, including declining inflation, stable exchange rate and gradual upswing in the real economy. Source Proshare Read More 

Labour Leaders Shun Meeting With Federal Government - The Nigeria Labour Congress has said it will no longer enter into any negotiation with the government on a minimum wage for workers. Source Punch Read More 

Weekly Economic and Financial Commentary – WE 02nd Nov, 2018 - The CBN released a draft economic report for first half of 2018 which showed the state of the economy between January - June 2018. Importantly, the report showed FG fiscal deficit of N786.8 billion (15% lower than H1 2017) relative to budgeted fiscal deficit of N977.2 over the same period. Source Proshare Read More 

FG Incurred N16bn Transaction Costs On TSA –AGF - The Federal Government has within the last two years incurred a total amount of N16bn as transaction costs on the Treasury Single Account. Source Punch Read More 

Nigeria Took N280bn Sovereign Loan In 10 Years - The Agence Francaise De Developpment, AFD, Wednesday, said it has supported the Federal Government of Nigeria with over 280 Billion Naira in sovereign loan. . Source Leadership Read More 

Fuel Scarcity Looms As NUPENG Backs NLC Planned Strike- There may be shortage of fuel next week as the Nigeria Union of Petroleum and Natural Gas Workers has pledged its loyalty to the Nigeria Labour Congress and any step that the NLC decides to take. The Federal Government on Friday obtained an order from the National Industrial Court restraining the organised labour from embarking on strike. Source Punch Read More

 

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PROSHARE REGULATORS

Guidelines for Licensing and Regulation of Payment Service Banks In Nigeria -The Central Bank of Nigeria has vide its circular reference number FPR/DIR/GEN/CIR/07/018 released guidelines on the Licensing and Regulation of Payment Service Banks In Nigeria. Source Proshare Read More

 

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PROSHARE MARKETS

NSE Lifts Suspension Placed on The Trading in The Shares of Unity Bank Plc-Refer to the Market Bulletin dated 1 November 2018 notifying the public of the suspension of six (6) listed companies for non-compliance with Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange (Issuers’ Rules) (“Default Filing Rules”), which provides that; “If an Issuer fails to file the relevant accounts by the expiration of the Cure Period, The Exchange will: Source Proshare Read More 

Corporate Earnings for the Week Ending 261018 – UBN Declares N14.7bn PAT in Q3 2018 Results-During the week ending October 021118, eight (8) quoted firms declared their results. Source Proshare Read More 

Bellwether Stocks Lifts NSEASI; Inches Up by 0.37% Amid Negative Breadth- Equities market closed today on a positive note, as NSEASI appreciated by +0.37% to close at 32,124.94 basis points as against -1.42% depreciation recorded previously. Source Proshare Read More 

Unity Bank Plc Explains Reasons Behind The Delay in Filing Its Financial Statements - Unity Bank Plc wishes to inform the Nigerian Stock Exchange (NSE), our esteemed shareholders and other stakeholders that it has released its Audited Financial Statement for the year ended December 31, 2017 as well as the year 2018 Quarterly Unaudited Financial Statements up to September 30, 2018. Source Proshare Read More 

Market Review and Round-Up of Corporate News Announced During The Week Ending 021118 - The FX market experienced mixed performance during the week. The BDC rate and the CBN rate both depreciated while NAFEX and the IEFX rates both appreciated by 0.07 and 0.14% respectively. Source Proshare Read More 

What To Expect From The Markets This Week - 051118 - U.S trade deficit expanded slightly by 130bps (vs 650bps in August) to $54 billion in September, albeit at a slower pace driven by a rebound in exports. For clarity, exports expanded by 149bps MoM to $212.6 billion outpacing the impact of a growth in imports (+146bps MoM to $266.6 billion). Elsewhere, preliminary estimate of GDP in the Eurozone reveals a slowdown in the growth rate to 1.7% YoY in Q3 (Q2 18: 2.2%). Source Proshare Read More

 

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PROSHARE BUSINESS

Executive Order No 1: BPP Clarification on Pension Requirement for Employees Of Companies - This is to refer to the letter Ref. No. MJ/DSD/BPP/1 dated 10th January, 2018 from the Federal Ministry of Justice (FMoJ), which gave interpretation of Section 2(2&3) of the Pension Reform Act, 2014 as regards mandatory coverage (minimum number of employees) of the Contributory Pension Scheme (CPS) for private sector organisations with particular emphasis on micro and small business enterprises and in the spirit of the Executive Order (EO-1). Source Proshare Read More 

Airtel Africa Constitutes Board For Planned IPO - Airtel Africa has constituted an eight-member board ahead of its IPO that is expected to take place in London. Source Punch Read More

 

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PROSHARE TECHNOLOGY

#FintechNGRSocialMeet3-Stakeholders Harp On Collaboration Between Banks And Fintechs-Key players in the financial services and technology agreed yesterday that the way forward for boosting financial inclusion, is effective collaboration to reach the broader market of the unbanked population in the country. Source Proshare Read More 

Collaboration Is Key to Making Nigeria a Reference Point in Fintech -AdeRemi Atanda - Collaboration amongst stakeholders will be key to positioning Nigeria as a reference point for Fintech in the global technology ecosystem. The Executive Director, SystemSpecs Nigeria Mr AdeRemi Atanda shared this as a keynote speaker at the 3rd edition of the Centre for Financial Journalism and the Association of Marketing Professionals in Nigerian Financial Institutions (ACAMB) business forum in Lagos. Source Proshare Read More

 

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PROSHARE FINANCE

The Nigerian Insurance Sector Report: Unlocking Potentials for Growth-The recovery in the global macro economy trickled into the insurance sector in 2017. Source Proshare Read More 

The Hidden Costs of Getting Your First Vehicle- When you get your first vehicle, it’s often an exciting time. For many people this big rite of passage comes during the adolescent years when everyone is first learning to drive and allowed to legally drive on the roads. Source Proshare Read More

 

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PROSHARE MSME

The Age-Old Sharing Economies Of Africa And Why We should Scale Them  - The Alaba Example - From rides to homes and beyond, we're sharing everything these days, with the help of digital tools. But as modern and high-tech as the sharing economy seems, it's been alive in Africa for centuries, according to author Robert Neuwirth. He shares fascinating examples -- like apprenticeships that work like locally generated venture capital and systems for allocating scarce water -- and says that if we can propagate and scale these models, they could help communities thrive from the bottom up. Source Proshare Read More

 

 

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