Nigeria in 1min: Economic, Business and Financial Headlines – 200219

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Wednesday February 20, 2019 / 7:00 AM / Proshare News

 

 

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PROSHARE ECONOMY

NIPC Issues Report On Pioneer Status Incentive for Fourth Quarter 2018 -  Nigerian Investment Promotion Commission (NIPC) has released the Report of Pioneer Status Incentive processed between 01 September and 31 December 2018. Source NIPC Read More

Oil Markets Poised For A Breakout - OIR 190219 - OPEC+ cuts, supply disruptions and an easing of trade tensions between the U.S. and China has boosted crude oil to a three-month high. Source Oilprice Read More

Gas Flare Commercialisation To Attract $3.5bn Investments –FG - The ongoing gas flare commercialisation programme of the Federal Government will attract $3.5bn worth of investments to Nigeria. Source Punch Read More

FG Committed To N701b Power Generation Intervention Fund - The Ministry of Power, Works and Housing has pledged commitment to pay N701 billion Payment Assurance fund to power Generation Companies (GenCos). Source Guardian Read More

Remembering Leah Sharibu: One Year in Captivity - Precocious, fearless, and dogged Leah Sharibu is a teenager abducted from Government Girls Science Technical College, Dapchi, Yobe State. She was corralled like heifer with other girls by a murderous and deadly religious Nigerian terror group Boko Haram. Source Proshare Read More

FG Plans New Finance Scheme To Bridge Oil Sector Funding Gaps - The Nigerian Content Development Monitoring Board, NCDMB, has announced plans to introduce a new financing scheme to address the gaps witnessed under the Bank of Industry, BOI, funding initiative for companies operating in the Nigerian oil and gas industry. Source Vanguard Read More

More Nigerians Believe The Economy Is Improving – Survey - According to the research, 57.3 percent of Nigerians who responded to the survey believe that the economy is improving. Source Dailytrust Read More 

 

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PROSHARE REGULATORS

SEC Seals Illegal Fund Management Firm - The Securities and Exchange Commission has sealed off the premises of a Lagos-based firm, Growing Circle, for engaging in illegal fund management activities. Source Punch Read More

NSE To Launch New Trading Platform For Mutual Funds - Authorities at the Nigerian Stock Exchange (NSE) will this weekend launch a new trading platform for collective investment schemes (CIS), otherwise known as mutual funds. Source TheNation Read More 

 

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PROSHARE MARKETS

Lafarge Africa Board of Directors Approve Rights Issue Allotment Proposal For SEC Clearance - Lafarge Africa Plc hereby notifies The Nigerian Stock Exchange and the investing public that at the meeting of its Board of Directors held on Friday, 15th February 2019 - and further to a resolution of the Board. Source NSE Read More 

Zenith Bank Declares N193.15bn in 2018 Audited Results; Proposes N2.50k Final Dividend - Q4 2018 PBT of N64bn up 38% y/y. Zenith’s FY 2018 PBT of N231.7bn, up 16% y/y, beat consensus estimate of N217.4bn. Source NSE Read More 

Newrest ASL Nigeria Plc Submits Application For Voluntary Delisting From The NSE Daily Official List - Newrest ASL Nigeria Plc (Newrest or the Company) has through its Stockbroker, Helix Securities Limited, submitted an application to The Nigerian Stock Exchange (The Exchange) for voluntary delisting of the entire 634,000,000 ordinary shares of the Company from the Daily Official List of The Exchange as a result of its inability to meet up with the 20% free float requirement of The Exchange. Source NSE Read More 

FIDSON Rights Issue To Open March 06, 2019 - Fidson Healthcare Plc – Proposed Rights Issue of 750,000,000 Ordinary Shares of 0.50K each at N4.00 per Share on the Basis of 1 New Ordinary Share for Every 2 Ordinary Shares Held. Source NSE Read More 

Nigeria’s Equities Market Bounces Back; NSEASI Records 0.67% Gain - Equities market closed today on a positive note, as NSEASI appreciated by +0.67% to close at 32,406.18basis points as against -1.61% depreciation recorded previously. Source Proshare Read More 

T-bill Yields Compress as Funding Pressures Ease - The Bond Market was scantily traded, with yields marginally lower by c.2bps on the day, following a slight tightening in bid-ask spreads on some short and mid tenors. Source Zedcrest Capital Read More


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PROSHARE BUSINESS 

How Multiple Taxes Cripple Listed Companies’ Operations - The incidence of multiple taxes, which have crippled operations of many listed firms in Nigeria, has spawned fresh criticisms, as capital market experts at the weekend, urged the incoming administration to abolish such investment obstacle. Source Guardian Read More 

Banks’ Capital Adequacy Ratio Rises to 15.26% - The Central Bank of Nigeria (CBN) has disclosed that the Capital Adequacy Ratio (CAR) of commercial banks has improved from the 10.79 per cent as at August 2018, to 15.26 per cent as of December 2018. Source Thisday Read More

AfCFTA Awaits Four More Ratifications To Become Effective - South Africa has deposited its instruments on the ratification of the African Free Continental Trade Area (AfCFTA), on the sidelines of the 32nd Ordinary Session of Assembly of the African Union, in Addis Ababa, Ethiopia. Source Guardian Read More

Amid Trade Talks, China Urges U.S. To Respect Its Right To Develop, Prosper - The United States should respect China’s right to develop and become prosperous, the Chinese government’s top diplomat told a visiting U.S. delegation, reiterating that the country’s doors to the outside world would open wider. Source Reuters Read More


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PROSHARE TECHNOLOGY

Total Value of Credit Allocated By Banks Stood At N15.13trn As At Q4 2018 – NBS - A total volume of 616,528,697 transactions valued at N39.15trn were recorded in Q4 2018 as data on Electronic Payment Channels in the Nigeria Banking Sector revealed. Source NBS Read More

 

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PROSHARE FINANCE

Meeting The Insurance Needs Of Digital Natives - The greatest challenge of mankind is immobility. We were created to move and keep moving, and trying to demobilize us can have dire consequences. So it is with things that involve human beings, such that, if a thing is not moving or perceived to be moving, we will abandon it and get on with what is moving. Source Ekerete Ola Gam-Ikon | GreenBook Blog Read More

 

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