Nigeria in 1min: Economic, Business and Financial Headlines – 220519

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Wednesday, May 22, 2019 / 06:45 AM / By News Aggregator / Header Image Credit: @AsoRock

 

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PROSHARE ECONOMY

Nigeria MPC Leaves Key Policy Rates Unchanged At May 2019 Meeting - The Monetary Policy Committee (MPC) meeting that was held on the 20th and 21st of May has just been concluded with the following committee decisions. Source CardinalStone Research Read More

Manufacturing PMI Stands at 57.8% in May 2019 from 57.7% in April 2019 - The May 2019 PMI survey was conducted by the Statistics Department of the Central Bank of Nigeria during the period May 6-10, 2019. Source CBN Read More

Average Price of 1kg of Tomato Increased by 7.05% MoM to N257.25 in April 2019 - NBS - Selected food price watch data for April 2019 reflected that the average price of 1 dozen of Agric eggs medium size decreased year-on-year by -15.38% and increased month-on month by 1.60% to N467.18 in April 2019. Source NBS Read More

CBN Communiqué No. 124 of the MPC Meeting – May 20-21, 2019 - The Monetary Policy Committee (MPC) met on the 20th and 21st of May 2019, amidst uncertainties in the global financial, economic and political environments. All Eleven (11) members of the Committee were present. Source CBN Read More

Oil Markets In Limbo After OPEC plus Meeting – OIR 210519 - Oil was flat at the start of trading on Tuesday, still caught between U.S.-Iran tensions on the one hand, and the downside risk of the U.S.-China trade war. Source Oilprice Read More

Over N4.33tn Released For Capital Projects In Three Years — FG - The Federal Government has released over N4.33tn in the last three years to Ministries Departments and Agencies of government for the implementation of capital projects. The Minister of Budget and National Planning, Udo Udoma gave the figure during a press briefing on the activities of the ministry and its parastatals under his leadership. Source Punch Read More


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Nigeria Recorded $3bn Trade Surplus With US In 2018 - The latest Nigeria/America trade statistics have revealed that the United States of America recorded a trade deficit of $3bn with Nigeria in 2018. The report revealed that Nigeria was America’s 49th largest goods trading partner with $8.3bn in a-two way goods trade. Source Punch Read More

NNPC Remitted N1.26tn To Federation Account In 2018 — Okonkwo -The NNPC said it recorded a surplus of N41bn in its remittance to the Federation Account. The Managing Director of NNPC Capital, Mr Godwin Okonkwo, disclosed this when he represented the Group Managing Director, Maikanti Baru, during a presentation to the House of Representatives Ad Hoc Committee on the Investigation of the Non-Remittances of Funds to the Federation Account by the corporation between July 2017 and December 2018 in Abuja. Source Punch Read More  

 

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PROSHARE MARKETS 

NSE Clarifies Concerns on MTN Nigeria's Premium Board Listing - The attention of The Nigerian Stock Exchange (NSE or The Exchange) has been drawn to a few critical issues raised in various print and social media platforms regarding the listing of MTN Nigeria Communications Plc (MTN Nigeria) on the Premium Board of the Exchange. Source NSE Read More 

MTN Nigeria Provides Clarity On Its Listing Price and Preference Shares Redemption - MTN Nigeria Communications Plc (MTNN) is aware of media reports that make a series of allegations about the listing of MTNN on the Nigerian Stock Exchange (NSE). These reports are incorrect and misleading. Source NBS Read More

NSEASI Inches Up By 2.88%; Maintains Positive Posture; Closes Above 30,000bpts - Equities market closed today on a positive note, as NSEASI appreciated by 2.88% to close at 30,218.14 points as against 1.74% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -3.86%. Source Proshare Read More

Local Markets to Hold steady as CBN Retains MPR at 13.50% - The FGN Bond market traded on a relatively mixed note, with slight profit taking observed on the mid to long end of the curve, ahead of the FGN bond auction scheduled for tomorrow, whilst yields on the shorter end of the curve compressed lower in tune with the still depressed level of rates in the T-bills market. Source Zedcrest Capital Read More

Mutual Funds Net Assets Rise By N64.9b In First Quarter - Latest report on net asset value (NAV) of mutual funds by SEC obtained by The Nation showed that net asset value (NAV) of mutual funds  rose from N621.59 billion by December 28, 2018 to close first quarter of the year at N686.485 billion, representing an increase of N64.9 billion or 10.4 per cent. Source TheNation Read More

 

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PROSHARE BUSINESS 

Judgment Given In Suit Over CITN Stamp And Seal Practice Directive - Public Notice to Members: Update on Suit between Chief Afolabi Igbaroola & Ors v Federal Inland Revenue Service & Ors. The aforementioned matter came up for hearing today Tuesday May 20, 2019 at the Federal High Court in Suit No. FHC/L/CS/1480/18. Source Chartered Institute of Taxation of Nigeria Read More

National Assembly Management Issues New Guidelines For Journalist Accreditation - On Monday, the management of Nigeria’s National Assembly issued a new guideline for accreditation of journalists covering the parliament. Source NASS Management Read More

AfDB Approves EUR 90 Million To Support Kenya’s Mortgage Refinance Company - The AfDB, which announced this in a statement, said the KMRC is a non-Bank financial institution designed to provide long-term funding and capital market access to local lenders, including commercial banks, and Savings and Credit Cooperative Organizations to help consolidate the East African nation’s growing domestic mortgage finance market. Source Thisday Read More

 

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PROSHARE TECHNOLOGY   

AFI Open Competition for Fintech Innovators: Fintech Showcase At AFI GPF 2019 - The AFI GPF is the world’s largest forum for regulatory institutions to share experiences, knowledge and initiatives on financial inclusion. Over the past decade, the keystone event has supported an environment for historic financial inclusion policy initiatives and declarations, and this year is no exception. Source AFI Global Read More 

 

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