Nigeria in 1min: Economic, Business and Financial Headlines – 211118

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Wednesday November 21, 2018 / 7:00 AM / Proshare News

 

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PROSHARE ECONOMY

Can We Expect A Major Rebound In Oil Prices? - After declining by more than 20 percent from the October peak, oil prices are showing some signs that they have now bottomed out. Source Proshare Read More 

Fed Govt. Makes States Insurance Agents In New Guideline - The Federal Government through the National Insurance Commission (NAICOM) yesterday released a guideline to empower States as insurance agents to facilitate the enforcement of compulsory insurances and provide jobs. Source TheNation Read More 

Senate Mulls Laws To Encourage New Listings - The Senate plans to make laws that will encourage listing of companies on the Nigerian stock market.Deputy Chairman, Senate Committee on Capital Market, Mr. Foster Ogola said Senate will make laws that will encourage new listings as well as help to revamp the capital market and make it more vibrant. Source TheNation Read More 

 

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PROSHARE REGULATORS

SEC wants govt companies listed on NSE - The Securities and Exchange Commission has said it wants government-owned companies to be listed on the Nigerian Stock Exchange.The Acting Director General, SEC, Ms Mary Uduk, during a courtesy visit from the Senate Committee on Capital Market to SEC, commended the senators on the efforts made so far in ensuring adequate legislation for the capital market. Source Punch Read More 

 

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PROSHARE MARKETS

38 Out of 47 Stocks Listed Between 2008 and 2018 Trade Below Their Listing Prices - Analysis on stocks listed between 2008 and 2018 reflected that about 81% of such stocks trade below their listing prices and as such are in the red zone. Source Proshare Read More

8 Stocks Make NSE Fresh Listings In 2018 Worth N341.59bn - The listings amounting to N341.59 billion were listed by STANBIC, NOTORE,FLOURMILL, MORISON, WAPCO, UACN, HMARKINS and UBN. STANBIC listed a supplementary 64,208,713 units of bonus shares worth N3.21 billion. Despite the new listing, STANBIC gained just 0.20 percent, while the equity’s volume traded rose slightly from 0.18 million units of shares to 1.43 million units on August 10, 2018. Source Proshare Read More 

Why We Issue Promissory Notes To Settle Oil Marketers’ Debts – DMO - The DMO in a statement said FEC approved the establishment of the Promissory Note Programme and Bond Issuance to settle inherited local debts and contractual obligations due to various categories of creditors, including Oil Marketers in July 2017. Source Daily trust Read More 

Bitcoin Crashes To $4,000 As Nigerian Volume Dip To N1bn - The value of bitcoin, the most popular cryptocurrency has crashed to a one year low, hovering around $4,000 as the volume of the crypto currency in Nigeria dipped to N1.08 billion, in a 24 hour panic driven market. Source Leadership Read More 

 

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PROSHARE BUSINESS 

Telecoms Services May Shut Down in Abuja, 10 States - There are palpable fears that 10 states of the federation and the Federal Capital Territory, Abuja, may experience total outage of telecoms services in the next few days, following the shutdown of several base stations by the Kogi State Internal Revenue Service. Source Thisday Read More 

 

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PROSHARE TECHNOLOGY

10 Technologies That Will Disrupt Banking in Next 5 Years - The scope and speed of evolution in regulation, customer behavior and technology – coupled with the emergence of new competitors – mean that the future of banking will not be a continuation of the past. New technologies will transform banking as we know it, providing both opportunities and challenges for financial institutions. Source Proshare Read More 

Why Central Bank Digital Currencies Will Destroy Cryptocurrencies - Leading economic policymakers are now considering whether central banks should issue their own digital currencies, to be made available to everyone, rather than just to licensed commercial banks. The idea deserves serious consideration, as it would replace an inherently crisis-prone banking system and close the door on crypto-scammers. Source Proshare Read More

 

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