Nigeria in 1min: Economic, Business and Financial Headlines – 220419

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Monday, April 22, 2019 / 7:00 AM / By News Aggregator / Header Image Credit: @jidesanwoolu

 

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PROSHARE ECONOMY

The Firm Floor Under Oil Prices - OIR 190419 - Oil held steady at the close of the week, with a slowdown in U.S. shale and the looming deadline for a decision on Iran sanctions waivers putting a floor under oil prices. Source Oilprice Read More

FG Pays 2,777 Pensioners N1.48bn Arrears - PTAD stated in its report on pension arrears payment for the first quarter of 2019 that N1.19bn was paid to 2,242 retirees in the Civil Service Pension Department, N132.12m was paid to 452 Parastatal Pension Department retirees, while N123.316m was paid to 83 retirees in the Police Pension Department. Source Punch Read More

N24.39tr Debt: Nigeria Not In Debt Crisis, Says Fed Govt - Nigeria is not in any way near a debt crisis despite its N24.39 trillion (about $79.44 billion) debts, the Federal Government has said. The debt figure, which, as at December 31, 2018, comprised Eurobond loans, facilities from the World Bank Group, China and Africa Development Bank Group constitute over 80 per cent of the total debt stock. Source TheNation Read More 

 

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PROSHARE REGULATORS

CBN To Enhance Capacity Of Mmos, Super Agents - It stated that the objectives of the facility were to enhance the capacity of Mobile Money Operators and super agents to establish financial services access points in under-served and un-served locations. Source Punch Read More

 

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PROSHARE MARKETS

What To Expect From The Markets This Week - 220419 - With the CBN further maintaining its pause on OMO auctions, the Interbank Call rate declined 585bps d/d to settle at 9.86%. Source Proshare Read More 

NASD OTC Market CAP Increased By 1.67% WoW To Close At N532.99bn - As at close of trade week on 16 April 2019, market Capitalisation increased to 532.99 billion from last week's previous 523.66 billion, which shows a 1.67% increase in Capitalisation. Also the USI for the week ending 16 April 2019 recorded an increase from 728.88 points to 741.05 points. Source NASD Read More 

Market Review and Round-Up of Corporate News Announced During The Week Ending 180419 - The equities market recorded positive performance – the listed equities market recorded +1.78% gain WoW while the NASD OTC also recorded +1.67% gain WoW. Source Proshare Read More

 

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PROSHARE BUSINESS 

Zenith Bank, UBA, 9 Others Paid More Taxes In 2018 - Zenith Bank, United Bank for Africa and 9 other deposit money banks in the country paid more to the government in taxes in 2018 compared to what they paid in 2017 as their profits soared at the end of the last financial year. Source Leadership Read More

Dangote Refinery’ll Reduce Fuel Imports In West Africa –OPEC - The Organisation of Petroleum Exporting Countries has said the refinery being built by Dangote Group is expected to reduce the need for fuel imports in West Africa. OPEC, in the current edition of its World Oil Outlook, noted that the refinery would refine as much as 650,000 barrels of crude oil per day. Source Punch Read More

FG Rakes In N36bn Tax From Insurance Firms - For their five-year operation, about 55 life and non-life insurance companies in Nigeria have paid N36.5 billion taxes to the federal government through the Federal Inland Revenue Service (FIRS). Source Leadership Read More

FG Assures Motorists Of Third Mainland Bridge’s Safety - “The public is hereby informed that the expansion joint shown in a Facebook video clip is one of those slated for change during repairs on the Third Mainland Bridge, which will commence soon. It is still functioning and our engineers and consultants have advised that it does not pose any structural danger to the bridge and it is safe to use. Source Guardian Read More

Oil Prices Soar By About 3 Percent As U.S. Plans End To Iran Sanction Waivers - Oil prices rallied by about 3 percent on Monday to their highest since late 2018 as the United States was set to announce that all imports of Iranian oil must end or be subject to sanctions. Source Reuters Read More 

World Bank: 1.7b Adults Lack Access To Financial Services - The situation is slowly improving, however, with 1.2 billion people getting access to proper banking since 2011, including over half a billion people in the last three years alone. Access to finance in remote areas is proven to relieve barriers to poverty reduction, economic growth and female empowerment. Fintech can help solve these challenges, but it needs the help of governments, the public sector and financial institutions to have meaningful impact. Source TheNation Read More


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PROSHARE TECHNOLOGY

EFINA Committed to Nigeria’s Financial Inclusion by 2020 - Enhancing Financial Innovation and Access (EFINA) has restated its commitment to Nigeria’s target of achieving 80% financial inclusion for adults by 2020. Source Proshare Read More

 

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