Nigeria in 1min: Economic, Business and Financial Headlines – 111018

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Thursday October 11, 2018 / 7:00 AM / Proshare News

 

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PROSHARE ECONOMY

Ngige Says No Pact On Minimum Wage Yet, NLC Kicks - The Minister of Labour and Employment, Chris Ngige, on Wednesday said the Federal Government and the organised labour had yet to reach an agreement on the new National Minimum Wage as being reported in the media. Source Punch Read More 

FG Releases N460 Billion For 2018 Budget - Four hundred and sixty billion naira has been released for the implementation of the 2018 budget, the Minister of Budget and National Planning, Udoma Udo Udoma, has disclosed. Source Guardian Read More 

FG Set To Open Abuja, Port Harcourt Airport Terminals - The federal government has concluded arrangements to open the new terminals of Nnamdi Azikiwe International Airport (NAIA), Abuja and Port Harcourt International Airport (PHIA) by the end of October this year. Source Leadership Read More 

Again, Senate Rushes To Amend Electoral Act - The Senate yesterday commenced fresh process of amending the Electoral Act, 2010 barely four months to the 2019 general elections. Source Daily Trust Read More

INEQUALITY – Nigeria Ranks Bottom For The Second Year Running - The 2018 report was released on Tuesday at the annual International Monetary Fund and World Bank (IMF/WB) meeting holding in Bali, Indonesia. Source Proshare Read More

 

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PROSHARE MARKETS

Stock Market Extends Losing Streak As NSEASI Dips Further -0.11%-Equities market closed today on a negative note, as NSEASI depreciated by -0.11% to close at 32,382.58 basis points as against -0.08% depreciation recorded previously. Source Proshare Read More  

 United Capital, Proshare Partner On Tweet Meet To Explain InvestNow Platform - United Capital one of Nigeria’s leading investment banking groups in partnership with Proshare a leading financial information hub, today hosted a tweet-meet to engage the investing public on the ‘InvestNow’ service.Source Proshare Read More

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PROSHARE BUSINESS

Airlines Fear Huge Losses As Unions Shut MMA2 Terminal - At least five airlines are now counting their losses over workers’ unions’ shutdown of the Murtala Muhammed Airport II (MMA2) Terminal in Lagos. Source Guardian Read More 

PMB Signs Executive Order No.8 Mandating Nigerians With Foreign Assets To Pay Tax - President Muhammadu Buhari has signed an executive order mandating Nigerian taxpayers to declare and pay tax on their offshore assets. Source Proshare Read More

 

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PROSHARE FINANCE

A New Micro Pension Product To Boost The AUM Of Pfas -The assets under management (AUM) of the Nigerian regulated pension industry increased by 17.4% y/y in August to N8.33trn (US$27.3bn). Source Proshare Read More

 

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PROSHARE REGULATORS

Register With Associations, SEC Tells Capital Market Operators - The Securities and Exchange Commission has mandated all capital market operators to register with an association or group or risk being punished. Source Punch Read More 

AMCON Wants Polaris Bank Sold In Two Years - The Chief Executive Officer, AMCON, Ahmed Kuru, in an interview with Bloomberg in Lagos, said the divestment would be quick as the agency had met with the management of Polaris Bank and would sell the business in less than two years. Source Punch Read More 

Forex: Wholesale Segment, Others Get $210m Boost -Authorized dealers in the wholesale segment of the inter-bank foreign exchange market received the sum of $100million from the Central Bank of Nigeria (CBN) on Tuesday, October 9, 2018 to meet the needs of customers. Source Proshare Read More

 

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PROSHARE TECHNOLOGY

DSN Leads Discourse On Deploying AI To Boost Financial Inclusion In Nigeria -Stakeholders at the 2018 Data Science summit agreed that there is need for collaboration between the technology and financial services ecosystems, to achieve scale in financial inclusion. Source Proshare Read More

 

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