Nigeria in 1min: Economic, Business and Financial Headlines – 080419

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 Monday, April 08, 2019 / 7:00 AM / By News Aggregator / Header Image Credit: @AsoRock

 

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PROSHARE ECONOMY

Policy Momentum, Management Inertia – LBS Executive Breakfast Session – Apr 2019 - In spite of being blighted by soaring debt service and constrained by negative labour productivity, the Nigerian economy is likely to turn the corner in 2019. Source FDC Ltd Read More 

Wheat Prices Up By 1.29%; Driven By Lower Production In the US - Brent rose 0.14% to $69.41pb despite gloomy global economic forecasts and US inventory build-up. Source FDC Read More 

Oil Hits $70 On Libya Unrest, Crisis In Venezuela – OIR 050419 - Oil prices rose in early trading on Friday on risks in Libya and positive trade news from the U.S.-China negotiations. “The geopolitics around Libya and Venezuela, alongside the possible reflation of risk appetite on positive U.S.-China trade talks may well pull the market out of its morning doldrums,” Source Oilprice Read More 

Weekly Economic and Financial Commentary - April 01 - 05, 2019 - This week, the DMO released Nigeria’s public debt data for full year of 2018 which showed an increase in total public debt by 12.5% YoY to N24.39 trillion ($79.44 billion). Source ARM Read More

Lagos, Edo, Kaduna, Cross River Owe Over Half Of States’ Foreign Debt - Four states of the federation — Lagos, Edo, Kaduna and Cross River — dominate the list of sub-national governments indebted to foreign bodies, statistics obtained from the Debt Management Office, has shown. Source Punch Read More

RMAFC To Probe 22 Banks Over Stamp Duty Collections - In a statement issued by the commission’s spokesman, Mr Ibrahim Mohammed, in Abuja on Sunday, RMAFC said that the probe would involve a forensic investigation of the funds that had so far been collected as stamp duty by 22 Deposit Money Banks from 2000 to 2018. Source Punch Read More

 

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PROSHARE MARKETS

What To Expect From The Markets This Week - 080419 - With the CBN holding off on OMO auctions today, system liquidity improved mildly. On the back of this, the Interbank Call rate declined 442bps to settle at 15.29%. Source Proshare Read More 

DMO Releases Public Debt Data for December 2018 - The Debt Management Office (DMO) has released the Public Debt Data for December 2018. Source DMO Read More 

Investors Lose N547.96bn WoW As NSEASI Dips By -4.59% To Close The Week Negative - Equities market closed today on a positive note, as NSEASI appreciated by 0.21% to close at 29,616.38points as against 0.39% depreciation recorded previously. Source Proshare Read More 

Market Review and Round-Up of Corporate News Announced During  The Week Ending 050419 - The equities market recorded negative performance – the listed equities market recorded -4.59% loss WoW while the NASD OTC also went down by -3.23% WoW. Source Proshare Read More 

NASD OTC Market CAP Decreased By -3.23% WoW To Close At N526.79bn - As at close of trade week on 05 April 2019, market Capitalisation decreased to 526.79 billion from last week's previous 544.39 billion, which shows a 3.23% decrease in Capitalisation. Source NASD Plc Read More 

Forex Intervention: CBN injects $247.8m, CNY 34.8m into Retail SMIS - The Central Bank of Nigeria (CBN) on Friday, April 5, 2019, made an intervention of $247.8million in the retail Secondary Market Intervention Sales (SMIS) and CNY 34.8million in the spot and short tenored forwards segment of the inter-bank foreign market. Source CBN Read More 

China's Big Four Banks Dominate The Top of The World’s 100 Largest Banks - Despite global trade tensions and a weakening yuan, Chinese banks continued to grow and remain among the world's largest, the latest global bank ranking from S&P Global Market Intelligence shows. Source  S&P Global Market Intelligence Read More 

Bond Yields Compress Marginally Following Bargain Hunt on Short Tenors - The FGN Bond market traded on quieter note in today’s session, with yields moderating by c.9bps owing to some bargain purchases mostly on the 2025 and 2026 maturities which traded at a low of 14.26%. Source Zedcrest Capital Read More 

 

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PROSHARE BUSINESS 

A Fool’s Guide To Innoson Vs Customs and GTBank - The issue of the case between Innoson Motors (Innoson) and Guaranty Trust Bank Plc (GTBank) with other parties like the IGP, AGF and EFCC is interestingly complicated. It explains the reason why it is confusing to many people. Source Yinka Ogunnubi Read More

World Bank’s Executive Directors Select David Malpass 13th President of the World Bank Group - The Executive Directors of the World Bank today unanimously selected David R. Malpass as President of the World Bank Group for a five-year term beginning on Tuesday, April 9, 2019. Source World Bank Read More

Nigerian Govt Gives Foreigners 48 Hours To Leave Zamfara Mining Sites - The Nigerian government has given all foreigners involved in mining activities in Zamfara State 48 hours to leave the sites. The government announced a ban on all mining activities as part of measures to restore peace in the state. Source Premiumtimes Read More

 

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PROSHARE TECHNOLOGY

FG To Review Nigeria’s National Cyber-Security Strategy – ONSA - The Federal Government of Nigeria plans to review the country’s Cyber-Security strategy in 2019, to promote efficiency and alignment with global best practices. Source Proshare Read More

 

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PROSHARE FINANCE

1.65m Applications Received By JAMB in 2018 - NBS - The Joint Admissions and Matriculation Board data reflected that the total number of applications received in 2018 was 1,653,127 as against 1,722,269 applications received in 2017. This represents about 4.01% drop in comparison to the total applications received in 2017. Source NBS Read More 

FG Approves N2.6bn To Pay Pension Increment Arrears - The Pension Transitional Arrangement Directorate has approved the payment of the final tranche of the six months’ arrears of 33 per cent pension increment to pensioners. Source Punch Read More

 

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