Nigeria in 1min: Economic, Business and Financial Headlines – 151118

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Thursday November 15, 2018 / 7:00 AM / Proshare News

 

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PROSHARE ECONOMY

Oil Prices Collapse To One-Year Lows – OIR 131118 - Oil fell yet again on Tuesday, with the string of losses starting to mount. WTI fell below $60 and Brent fell below $70, hitting fresh one-year lows in the morning. Saudi Arabia is trying hard to stop the price declines, but it is going to need to convince OPEC+ to do more at the upcoming meeting in three weeks’ time. Source Proshare Read More

Govs to Labour: Expect Sacking If We Must Pay N30,000 Minimum Wage - Nigerian governors have said they cannot afford to pay workers a minimum wage of N30,000 unless the organised labour wants its members to be sacked. Source Punch Read More 

Senate Alleges Fresh $1.15bn Illegal Withdrawals From NLNG Accounts - The Senate says it has uncovered illegal withdrawals of $1,151,609bn from the dividends accounts of the Nigerian Liquefied Natural Gas by the Nigeria National Petroleum Corporation. Source Punch Read More 

 

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PROSHARE REGULATORS

IOSCO Seeks Feedback on Proposed Framework for Assessing Leverage in Investment Funds - The Board of the International Organization of Securities Commissions (IOSCO) is requesting feedback on a proposed framework to help measure leverage used by investment funds which in some circumstances could pose financial stability risks. Source Proshare Read More 

SEC Inaugurates FinTech Roadmap Committee - The Capital Market Committee (CMC) has inaugurated a Market Wide FinTech Committee to come up with a FinTech roadmap for the Nigerian capital market. Source Leadership Read More 

 

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PROSHARE MARKETS

AFEX, Binkabi and STERLNBANK Announce Integration Partnership Streamlining the Agri-Financing Process - Access to finance in Agriculture has always remained critical to the success of farm businesses whether in production, improving post-harvest practices or in household cash flow. It is needed to get better access to markets which in turn promotes better management of risks. It also plays an important role in climate adaptation and resilience of agriculture to climate change, thus contributing to longer term food security. Source Proshare Read More 

T-Bill Yields Tick Higher Ahead of PMA - The bond market traded relatively flat on the day, with yields marginally higher by c.3bps on the day. We witnessed slight interests around the mid tenors following the spike in yields in the previous session. Source Proshare Read More 

NSE Sanctions EKOCORP For Late Filing ;TOURIST and Four Others on Delisting Watch-list - The Nigerian Stock Exchange (NSE) imposed a fine of N75.6 million on Ekocorp Plc (EKOCORP) for filing its audited 2014 and audited 2015 reports after the regulatory due date. This is the biggest sanction imposed on quoted firms that failed to file their financial statements as and when due. Source Proshare Read More 

SEC Approves Prestige Assurance Plc’s Bonus Issues of 41 For Every 100 Shares Held - This is to inform the general public that at the Annual General Meeting of the Prestige Assurance Plc held on 11th of June 2018, the following resolution was passed by the Shareholders of Prestige Assurance Plc as follows. Source Proshare Read More 

Market Sentiment Closes Negative as NSEASI Dips By -0.14% Amid Positive Breadth - Equities market closed today on a negative note, as NSEASI depreciated by -0.14% to close at 32,108.92 basis points as against +0.03% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -16.04%.  Source Proshare Read More 

FG’s $2.86bn Eurobond Oversubscribed by $6.6bn - The Federal Government on Wednesday night said it received a combined offer of over $9.5bn for its $2.86bn Eurobond. Source Punch Read More

 

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PROSHARE BUSINESS

Discover How New CAMA Is Relevant To The Ease of Doing Business in Nigeria – LBS Alumni (2) - As earlier promised, we introduce to you the last two of our panelists who will be on hand to discuss in detail the theme of the conference: "The New Companies and Allied Matters Bill and its Relevance to the Ease of Doing Business in Nigeria". Source Proshare Read More

 

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PROSHARE TECHNOLOGY

Mobile Money: CBN Requests N5bn Capital Investment From Telcos - The Central Bank of Nigeria has asked telecommunications companies that intend to deepen financial inclusion in the country through mobile money services to make a minimum capital deposit of N5bn. Source Punch Read More 

Google Launchpad Accelerator to Offer $3m to African Start-ups - Over the next three years, the Google Launchpad Accelerator Africa programme has revealed it will provide African start-ups with over $3 million in equity-free support, working space, and access to expert advisers from Google, Silicon Valley, and Africa. Source Thisday Read More

 

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