Nigeria in 1min: Economic, Business and Financial Headlines – 070219

Thursday February 07, 2019 / 7:00 AM / Proshare News

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PROSHARE ECONOMY

New NAHCO Management to Invest in Human Capacity Development and Technologies - The management of Nigerian Aviation Handling Company (NAHCO) Plc has assured that the company will sustain its upwardly growth trajectory as it seeks to improve  its operations to deliver greater value to customers and better returns to shareholders. Source NAHCO Plc Read More

Oil Rally Halts On Economic Concerns – OIR 050219 - We will take a quick look at some of the critical figures and data in the energy markets this week. Source Oilprice.com Read More

Irrespective of Who Wins 2019 Elections, ERGP Should Be Sustained - Toyin Sanni - Seasoned Investment Banker and Chief Executive Officer of  Emerging Africa Capital Mrs Toyin Sanni has called for sustainability of the Economic Recovery and Growth Plan (ERGP). Source Proshare Read More

Headline Inflation to Dip To 11.35% in January 2019 – FDC - Nigeria’s headline inflation is expected to slide to 11.35% in January from 11.44% in the preceding month. Source FDC Read More

How AFEX is boosting Financial Inclusion - When AFEX met Abdul in 2017, he was operating barely a rung above subsistence farmers. Source AFEX Read More

Highlights of Emerging Africa Capital Group’s 2019 Nigeria Economic Outlook, “Cautious Optimism” - The Emerging Africa Capital Group launched its report “Cautious Optimism” at the Nigeria Stock Exchange (NSE) on Monday February 4, 2019. Source Proshare Read More

ALSCON To Reopen For Production —BPE - The Aluminium Smelting Company of Nigeria, Ikot Ibasi, Akwa Ibom State, is set to begin operations, the Bureau of Public Enterprises, has said. Source Thisday Read More

NLC Wants Minimum Wage Excluded From Income Tax-The Nigeria Labour Congress has called for an  amendment to  the  income tax law so that the new minimum wage of N30,000 will fall below taxable income. Source Punch Read More

FG Recorded N910bn Fiscal Deficit In Three Months — CBN The Federal Government recorded a fiscal deficit of N910.41bn in the fourth quarter of 2018, the Central Bank of Nigeria revealed in its latest economic report. Source Punch Read More

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PROSHARE REGULATORS

ABCON Automates System, Registers over 4,000 Members - The Association of Bureaux de Change Operators of Nigeria has introduced its Live Run operation portal to enhance its compliance with set regulations and promote market integrity. Source Punch Read More

SEC Shuts Firm Involved In Ponzi Scheme - The Securities and Exchange Commission said on Wednesday that it had sealed off the premises of Dantata Success and Profitable Company in Kano for engaging in illegal capital market activities. Source Punch Read More

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PROSHARE MARKETS

The National Association of Securities Dealers (NASD) OTC Market Report 2018 - Stock markets have brought tears to the eyes of investors in 2018. The problems have not exactly been that of the markets themselves as it has been one of the global and local challenges facing diverse economies. Source Proshare Read More

Consumer Goods Sector – NESTLE Tops on EPS as ENAMELWA Tops on PE Ratio - A review of the EPS ratio of the Consumer Goods sector reveals that NESTLE tops based on EPS, followed by NB and UNILEVER while MULTITREX and NNFM lead others with negative EPS. Source Proshare Read More

Market Players Oversubscribe CBN OMO Amid Increased Demand on Short Tenor Bills - The Bond market traded flat in today’s session, with yields compressing marginally by c.2bps on the day. Source Zedcrest Capital Read More

Market Sentiment Remains Positive as NSEASI Inches Up Further By 0.16% - Equities market closed today on a positive note, as NSEASI appreciated by +0.16% to close at 30,821.80basis points as against +0.09% appreciation recorded previously. Source Proshare Read More

GREIF Nigeria PLC Suspends Operations Temporarily in Nigeria - Greif Nigeria PLC a manufacturing company formerly known as Van Leer Containers (Nigeria) Plc has taken a decision to suspend its operations for now in the country. Source Proshare Read More

A Quiet Trading Session as Daily OMO Auction Takes Centre Stage - The Bond market had a quiet trading session, with very little flows seen on select maturities. Yields expanded marginally by c.2bps on the day, as the market marks time ahead of the coming national elections and bond auction later in the month. Source Zedcrest Capital Read More

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PROSHARE BUSINESS

CBN Warns Public To Beware Of Fraudulent EDIs - The attention of the CBN has been drawn to the exploitation of unsuspecting members of the public by some Entrepreneurship Development Institutions (EDIs), purporting to be Central Bank of Nigeria (CBN)-accredited EDIs for our AgriBusiness Small and Medium Enterprises Investment Scheme (AGSMEIS). Source CBN Read More

CBN, NJI Hold Workshop for Judges on Collateral Registry - The maiden Judges’ Workshop on Secured Transaction in Movable Asset Act (STMA) and National Collateral Registry (NCR) opens in Abuja on Monday, February 11, 2019, at the National Judicial Institute (NJI).  Source CBN Read More

Assets in CBN’s National Collateral Registry Hits N1.561tn - A cumulative of 154,827 micro, small and medium scale enterprises (MSMEs) have used movable assets valued at N1.561 trillion to obtain loans from financial institutions since the National Collateral Register (NCR) was passed into law, THISDAY’s investigation has revealed. Source Thisday Read More

New FCCP Act to Check Monopoly, Price Fixing - To check monopoly and protect consumers from unfair prices, President Muhammadu Buhari, yesterday, assented to the Federal Competition and Consumer Protection Bill, thereby making it the Federal Competition and Consumer Protection (FCCP) Act. Source Guardian Read More

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PROSHARE TECHNOLOGY

GTBank Is Focused on Building A Single Trusted Integrated Platform - Segun Agbaje - Guaranty Trust Bank has reaffirmed its commitment to building a “Single Trusted Integrated Plaform” in the financial services industry in Nigeria. Source Proshare Read More

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PROSHARE MSME

Fortis Microfinance Bank Plc and Why Bunmi Lawson Resigned - In August last year Proshare wrote a deep dive analysis on several corporate governance infractions of Fortis Micro Finance Bank, a large micro finance lender listed on the Nigeria Stock Exchange (NSE). Source Proshare Read More

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