Nigeria in 1min: Economic, Business and Financial Headlines – 090119

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 Wednesday January 09, 2019 / 7:00 AM / Proshare News

 

 

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PROSHARE ECONOMY

Fears For The Nigerian Economy In The Years Ahead – Fasua - A coin dropped the moment I saw that picture posted by Senator Ben Bruce, where he posed with the old, retired Chairman of the Federal Reserve, Alan Greenspan, and boasted about how the Atiku team was contacting the man to come and assist them in turning this our Nigerian economy around. Source  Tope Fausa Read More 

Nigeria Outlook 2019: Sailing Through the Storm - From a synchronized growth in 2017 to an uneven outcome in 2018, the global economic outlook for 2019 is bumpier. Source United Capital Read More 

AfDB Approves US$14.12 million to Support Nigeria’s Membership in African Trade Insurance Agency - Once membership formalities in ATI are finalized, Nigeria could benefit from gross political and commercial risk insurance cover on total investments and trade amounting to over US$ 5 billion by 2020. Source APO Read More 

FG to Transmit New National Minimum Wage Bill to NASS on January 23, 2019 - The country’s national minimum wage which due for review currently stands at N18,000 but has been negotiated by labour to N30,000 or what amounts to a 67% increase.  Source Proshare Read More 

World Bank Predicts Slower Growth On Increasing Trade Tensions - World Bank in a statement yesterday said international trade and manufacturing activity had softened and trade tensions remain elevated contributing to downside risks to the three per cent outlook it projected in 2018. Source Leadership Read More 

Why Have Oil Markets Turned So Bullish? – OIR080119 - In today’s update, we will take a quick look at some of the critical figures and data in the energy markets this week. Source Oilprice Read More 

 

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PROSHARE MARKETS

Lufthansa Commercial Holding Transfers 97.45m Ordinary Shares of NACHO to Godsmart Nigeria Ltd - Nacho Aviance informs its esteem shareholders, the general public and the Nigerian Stock Exchange (NSE) that Lufthansa Commercial Holding GmBH has transferred all of its 97,453,125 ordinary shares of Nigerian Aviation Handling Company Plc, representing 6% shareholding, to Godsmart Nigeria Limited. Source NSE Read More  

Sell Pressure Perseveres as NSEASI Dips Further By -1.20% - Equities market closed today on a negative note, as NSEASI depreciated by -1.20% to close at 30,036.15 basis points as against -0.78% depreciation recorded previously. Source Proshare Read More

NSE CEO Set to Review 2018 Market Performance and Give Outlook for 2019-The Nigerian Stock Exchange (“NSE” or “The Exchange”) is set to hold its 2018 Market Recap & Outlook for 2019 on Monday, January 14, 2019, at the Stock Exchange House, Marina, Lagos. Source NSE Read More

Abraaj Confirms Intention To Convert Aureos Africa Fund Of US$10m Loan Stock In CILEASING To Equity - C & I Leasing in December announced its intention to restructure the Company’s issued and paid-up share capital, consolidating every four (4) ordinary shares currently held to one (1) new share in the company. Source NSE Read More

CBN Continues Intervention In Forex Market - The Central Bank of Nigeria (CBN) has continued its intervention in the inter-bank sector of the Foreign Exchange market by injecting another sum of $210 million into the forex market. Source CBN Read More


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PROSHARE BUSINESS 

Educational Solutions and School Financial Needs Resolution From FirstBank - The FirstEdu loan is targeted at private Nursery, Secondary and A-Levels schools. The product offers opportunity for private schools to access flexible funding to meet urgent cash flow needs, replace old furniture and equipment, as well as refurbish dilapidated buildings and classroom blocks. Source FirstBank Read More

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PROSHARE TECHNOLOGY

Data Science Nigeria Releases Its 2019 AI Research Programmes - Data Science Nigeria (DSN), a frontline artificial intelligence capacity building non-profit committed to driving solution-oriented application of artificial intelligence in Nigeria has released its 2019 programme of activities as part of its second year of operation. Source Data Science Nigeria Read More

Proshare Foundation Signs MOU with CFSI to Deepen Financial Inclusion in Nigeria -Proshare foundation as part of efforts to deepen financial inclusion in Nigeria recently signed a memorandum of understanding with the Center for Financial Services Innovation (CFSI), the authority on consumer financial health in the United States.  Source Proshare Foundation Read More 

Announcing The Inauguration Of The African Fintech Network - It is remarkable to note that the Africa Fintech Network was formally inaugurated on Tuesday 4th December 2018 during the opening session of the maiden week long Africa Fintech Festival hosted in Lagos – Nigeria. Source Fintech Read More

Dealdey Has Shut Down Operations - Following one month of inactivity on its website and social media pages, it is confirmed that Nigerian daily deals platform DealDey has shut down operations. Source Techpoint Read More 

Nigeria Softens Rules Shielding Banks From Wireless Rivals - Nigeria is preparing rules that will allow wireless carriers to transfer cash, softening a previous policy that protected the turf of banks in Africa’s most populous country.The central bank may have realized it can’t rely on lenders alone to achieve its objective of extending services to the 50 million adults still without a bank account in the nation of about 200 million people. Source Bloomberg Read More 

 

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