Nigeria in 1min: Economic, Business and Financial Headlines – 220219

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Friday February 22, 2019 / 7:00 AM / Proshare News

 

 

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PROSHARE ECONOMY

Personal Statements by the MPC Members at the 122 MPC Meeting of Jan 21-22, 2019 - Economic recovery strengthened in 2018 judging by the out-turn of key economic parameters. Source CBN Read More 

1.67m Customers Metered as at Q4 2018 – NBS - The power generation statistics for Q4 2018 reflected that a total average of 68,625 MWh of energy was generated daily by thermal power stations while thermal power stations generated an average of 27,913 MWh of energy within the same period. Source NBS Read More

Banks Non-Performing Loans Hit N1.79tn In 2018 - The total amount of non-performing loans of Nigerian banks for the year 2018 hit N1.79tn.Figures obtained from the Central Bank of Nigeria on Wednesday revealed that  N13.56tn was recorded as loans after specific provisions. Source Punch Read More

Oil Ticks Over Near 2019 Highs Amid OPEC Cuts, But Economic Slowdown Applies Brakes - Oil prices hovered close to 2019 highs on Thursday, bolstered by OPEC-led supply cuts and U.S. sanctions on Venezuela and Iran, but were prevented from rising further by slowing growth in the global economy. Source Vanguard Read More

FIRS Gets N23b Unpaid Tax From Corporate Firms - The Federal Inland Revenue Service (FIRS) has generated over N23billion in unpaid taxes from the recently suspended substitution exercise on corporate bank accounts, marked by the imposition of restriction on the accounts of tax-defaulting organisations. Source TheNation Read More

 

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PROSHARE REGULATORS

Additional Data Fields For Industry Customer Account Database Submission To NIBSS Plc - Please recall that the Management of Central Bank of Nigeria (CBN) directed all the Deposit Money Banks (DMBs) to forward customers account details in a specified format to the Nigeria Inter-Bank Settlement System (NIBSS), with a view to maintaining an Industry Customer Account Database (ICAD). Source CBN Read More

CBN Licensed 898 Microfinance Banks - The number of microfinance banks licensed in the country by the Central Bank of Nigeria stood at 898 as of February 13, 2019. The CBN disclosed this in a list it released on the recognised microfinance banks in the country on Thursday. Source Punch Read More 

 

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PROSHARE MARKETS

Market Players Oversubscribe FGN Bond Auction by 156% - The Bond Market traded on a relatively flat note, with yields slightly higher by c.2bps, as market players anticipated results from the Auction by the DMO. Source Zedcrest Capital Read More 

February 2019 FGN Bond Auction Oversubscribed - The trend of oversubscription at FGN Bond Auctions for the year continued at the February 2019 Auction conducted by the Debt Management Office (DMO) on Wednesday, February 20, 2019, at which 3 instruments, for 5, 7 and 10-year tenors, with a total value of N150 billion were offered. Source DMO Read More 

Summary of February 2019 FGN Bond Auction Results - Auction Result for the 12.75% FGN APR 2023 (Re-opening 5-year Bond), 13.53% FGN MAR 2025 (Reopening 7-Year Bond) & 13.98% FGN FEB 2028 (Re-opening 10-Year Bond). Source DMO Read More 

Investors Lose N16.93bn as NSEASI Dips By -0.14% Amid Positive Market Breadth - Equities market closed today on a negative note, as NSEASI depreciated by -0.14% to close at 32,568.66basis points as against +0.64% appreciation recorded previously. Source Proshare Read More 

Zenith Bank Plc FY 2018 Conference Call and Earnings Presentation - The Key Takeaways - Zenith Bank Plc held its FY 2018 Investors and Analyst Conference Call Earnings Presentation. Proshare NG participated along with leading market analysts and professionals. Source Proshare Read More

 

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PROSHARE BUSINESS 

How PEBEC Is Improving Trade Across Borders in Nigeria - The Presidential Enabling Business Environment Council, PEBEC chaired by the Vice-President Prof. Yemi Osinbajo,SAN has been the driver of the “Ease of Doing Business” reforms in Nigeria has been working assiduously to implement reforms across the nation, that will position it as a leading player in the “ Global Doing Business Index”. Source Proshare Read More

 

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PROSHARE TECHNOLOGY

JPMorgan Chase Unveils the First Digital Coin by a Bank - On the 14th of February 2019, JP Morgan Chase, world’s no 1 investment bank, with an asset size of c.USD2.6trn, became the first bank to create and successfully test a digital coin which will be backed by a fiat currency. Source Meristem Read More

 

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PROSHARE MSME

Business Tips For Nigerian Entrepreneurs by Folorunso Alakija - Nigerian Billionaire and Executive Vice Chairman Famfa Oil Limited, Mrs.Folorunso Alakija, recently shared tips on attaining success as an entrepreneur. Source Proshare Read More 

 

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