Nigeria in 1min: Economic, Business and Financial Headlines – 131118

Tuesday November 13, 2018 / 7:00 AM / Proshare News

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PROSHARE ECONOMY

A Federal Republic Of Inequality And Oppression-Nigeria’s economy hangs on a fiscal cliff, ready to tip over into eternity. Source Proshare Read More 

Special Report On Nigeria’s 36 States and FCT: Economic, Fiscal, Sectoral and Wellbeing Profiles - In furtherance of our quest to provide factual inputs into top level economic decision-making in Nigeria, Economic Associates (EA) is pleased to offer the November 2018 Edition of our Special Report on ‘Nigeria’s 36 States and FCT: Economic, Fiscal, Sectoral and Wellbeing Profiles’. Source Proshare Read More 

The Greatest Conspiracy Against Nigeria Youths - So the other day my friend Samson Itodo and a few of his friends went and got the Not-Too-Young-To-Rule Bill passed. Passing a bill is an arduous task. You need all the links and connections in the world to get things fast tracked. But they got it done. Kudos to the team. Source Proshare Read More 

A Petition For Action – Increase The 2019 Budget To A Minimum Of N15 Trillion – Tope Fasua - In gross/absolute terms the 2019 budget is smaller than the budget for 2018 by over N200Billion. This means that from get go, Nigeria’s government is decidedly and deliberately taking Nigeria backwards, or promising clearly that Nigerians are in for tougher times next year. Source Proshare Read More 

How To Un-Break The Nigerian Society And Economy - While everyone else is busy pursuing Buhari’s WAEC certificate - something he clearly doesn’t have and which does not matter as much as we make it - the economy has collapsed. Everywhere I turn we see all the debris, the remains of a once promising economy. The carelessness, mismanagement and open looting has never been worse and the figures show it. Nigeria is at its tethers’ end. Source Proshare Read More 

NNPC, NCDMB, Oando, Seplat And Many More Push The Nigerian Agenda At The 25th Africa Oil Week - The African Oil and Gas industry is showing signs of an auspicious future; there is renewed investor interest and burgeoning confidence in the continent and sector following continued upward movement in oil prices and recent oil and gas discoveries.  Source Proshare Read More 

NERC: Gas Shortage Contributed 74% of Power Sector Limitations - The Nigerian Electricity Regulatory Commission (NERC) has disclosed that a larger part of the constraints experienced in the country’s electricity sector in the first quarter (Q1) of 2018, was contributed by shortage of gas to power generation companies (Gencos). Source Thisday Read More 

Fuel Supply: NNPC Set To Control More Than 14% Market Share - THE Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, said the Corporation is set to control more than 14 per cent local market share of fuel supply in Nigeria. Source Vanguard Read More 

FG Crashes Importation Of Food By 60 Percent - The governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, hinted yesterday that the federal government had succeeded in reducing the importation of food items into the country by 60 per cent from 2015 to date. Source Leadership Read More 

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PROSHARE REGULATORS

Development of Capital Market Studies Curriculum to Boost Investor Education - SEC Nigeria-The Securities and Exchange Commission (SEC) has restated its commitment to further educate and enlighten investors in the Nigerian capital market to enhance their ability to make informed investment decisions. Source Proshare Read More 

E-Payment Reduces Currency Outside Bank — CBN - The CBN stated, “Currency outside banks fell by 14.7 per cent to N1.51tn at end-June 2018, compared with the decline of 18.9 per cent at end-June 2017. . Source Punch Read More

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PROSHARE MARKETS

Stanbic IBTC Shines at FMDQ OTC Inaugural Gold Awards-As part of its market development agenda, Nigeria’s leading fixed income securities exchange and debt capital market the FMDQ OTC hosted its inaugural Gold awards ceremony on Friday November 9, 2018 in Lagos. Source Proshare Read More 

Market Opens The Week Negative as NSEASI Dips By - 0.18%- Equities market closed today on a negative note, as NSEASI depreciated by -0.18% to close at 32,143.41 basis points as against -0.09% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -15.95%.  Source Proshare Read More 

Afrinvest Stock Recommendation For The Week 121118 - Last week, investors positioning in market bellwethers - NESTLE, SEPLAT and NIGERIAN BREWERIES - buoyed market performance as the All Share Index (ASI) closed higher, up by 0.2% W-o-W to 32,200.21 points while N27.5bn was added to market capitalisation which settled at N11.7tn. Also, YTD loss moderated to -15.8%. Source Proshare Read More 

Why Diamond Bank Opted For A CBN-Managed Acquisition By Access Bank Over The Carlyle Group - Five (5) months ago, when we became aware of the developments in Diamond Bank Plc, and sought to primarily devote time and resources to understand the nature of the changes that the Central Bank of Nigeria (CBN) was contemplating to deal with the challenges the tier-2 Nigerian banks posed to financial stability. Source Proshare Read More 

Market Opens The Week Negative as NSEASI Dips By - 0.18% - Equities market closed today on a negative note, as NSEASI depreciated by -0.18% to close at 32,143.41 basis points as against -0.09% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -15.95%. Source Proshare Read More 

We Stand By Our Reporting Today Even As Access Bank and Diamond Bank Issue Denials on M and A - Access Bank Plc and Diamond Bank Plc have this evening, both denied the media reports (not Proshare) earlier released today on purported talks on acquisition.The leeway provided them was offered by the news release published and given a wide circulation (not including this medium). Source Proshare Read More

 Bond Yields Spike to 13-Month High as Risk off Sentiments Heighten - Despite news of an impending Eurobond Issuance by the Nigerian FG, market players remained signifcantly risk off the Domestic FGN bonds with yields rising by c.11bps d/d. This came on the back of selloffs mostly on the Feb 2028s and Jul 2034s which were sold off to 15.85% and 16.00% respectively. At an average level of c.15.40%, yields are now at a 13-month high last seen in october 2017. Source Proshare Read More

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PROSHARE BUSINESS

President Buhari Speaks on Illicit Financial Flows And Corruption at Paris Peace Forum- At the Paris Global Peace Forum, world leaders gathered to commemorate the centenary anniversary of the Armistice signed on November 11, 1918 between the Allied Forces and Germany in the forest of Compiegne in France to end the First World War. Source Proshare Read More 

Proshare Receives Special Recognition At The Inaugural FMDQ Gold Awards-Proshare, Nigeria’s leading financial information hub on Friday, November 9th, 2018 received a Special recognition award, as a Strategic Media Partner in the online space. Source Proshare Read More 

Defunct Skye Bank’s Directors Being Probed For Insider Abuse, Others — NDIC - A statement from the NDIC on Monday said the Corporation’s Risk Assessment and Forensic Investigation Reports revealed that the erstwhile management of the failed Skye Bank Plc contributed to its failure by engaging in insider abuse, poor corporate governance and banking malpractices. Source Punch Read More

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