Nigeria in 1min: Economic, Business and Financial Headlines – 231118

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Friday November 23, 2018 / 7:00 AM / Proshare News

 

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PROSHARE ECONOMY

Taking Stock of the FGN’s Commercial Agriculture Credit Scheme- The Central Bank of Nigeria (CBN) recently released an evaluation and impact assessment report on the Commercial Agriculture Credit Scheme (CACS) - a program that was established by the Federal Government of Nigeria to support the Agricultural sector through a special credit intervention fund of N200billion. Source Proshare Read More 

ICT sector attracted $8bn FDI in 3 years — Minister - Foreign Direct Investment in Information Communication Technology sector increased from $32bn in 2015 to $40bn in 2018, Minister of Communications, Mr Adebayo Shittu, has said. Source Punch Read More 

Report: Nigerian Banks’ Fortunes Tied to Oil Price - A report by the Financial Times Thursday stated that most of Nigeria’s commercial banks have their fortunes tied to fluctuations in global oil prices considering that about a third of all credits they extend to the economy are directed to operations in the country’s oil and gas industry. Source Thisday Read More 

 

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PROSHARE REGULATORS 

Banks Accessed N956bn in Q3’18 Through CBN’s Standing Facilities Window to Square Up Their Positions- The banks continued to access the CBN’s Standing Facilities window to square up their positions either by borrowing from the standing lending facility (SLF) window or depositing excess reserves at the standing deposit facility (SDF) window of the CBN at the end of each business day. Source Proshare Read More 

CBN Communiqué No. 121 of the MPC Meeting – Nov 21-22, 2018-The Monetary Policy Committee (MPC) met on the 21st and 22nd of November, 2018, amidst a resurgence of global inflationary pressures, increased fragilities in the global financial markets, weakening crude oil prices, continuous capital flow reversal and moderate currency depreciations, especially in the emerging markets as well as a strengthening US dollar and subdued global economic growth outlook. Source Proshare Read More 

Why Presentation Of 2019 Budget Is Delayed, Almost Ready – Presidency - THE Presidency, yesterday, gave an insight into why there was delay in presentation of the 2019 Appropriation bill to a joint session of the National Assembly, saying that it was almost ready. Source Vanguard Read More 

2019 Elections: CBN To Monitor Banks’ Lending To Politicians - The Central Bank of Nigeria on Thursday said it would monitor the rate at which banks provide loans to politicians to finance their campaign spending ahead of the 2019 general elections. Source Punch Read More 

CBN Backs Labour On Minimum Wage - The Central Bank of Nigeria, CBN, has thrown its weight behind organised labour’s quest to increase the minimum wage, saying that it would boost the economy.  Source Vanguard Read More

 

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PROSHARE MARKETS

November 2018 FGN Bond Auction: DMO Allots N39.52bn FGN Bonds to Investors- At the FGN Bonds Auction, for November 2018 whose results has just been released, the Debt Management Office (DMO) sold N39.52 billion. Source Proshare Read More   

Summary of November 2018 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 Proshare Read More 

NSEASI Inches Up Marginally By 0.05% As MPC Retains All Policy Levers- Equities market closed today on a positive note, as NSEASI appreciated by +0.05% to close at 31,984.60 basis points as against -0.78% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -16.37%. Source Proshare Read More 

FGN Bond Auction Undersubscribed by 11% Amidst Weak Investor Appetite - ***Headline year-on-year (YoY) Inflation falls to 11.26% in October, compared to 11.28% in September*** Source Proshare Read More 

Market Volume Moved Up By 182.90% on ZENITHBANK’s Single Day Transaction - The total volume of shares traded on the floor of the Nigerian Stock Exchange (NSE) on Thursday, November 22, 2018 rose by 182.90% following a spike of 2424% in the volume of shares traded in ZENITHBANK today. Source Proshare Read More

 

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PROSHARE BUSINESS 

Stakeholders at Caritas Leadership Roundtable, Emphasize Need for Ethics in PR Practice- Entrenching ethics and professionalism in the public relations practice is key for the development of the reputation management space in Nigeria. Source Proshare Read More 

Nigeria Imports N720b Printing Papers Yearly - Nigeria is currently importing over two million metric tons of papers valued at N720 billion yearly.This has triggered concerns on the need to develop the local print and graphics industry for improved contribution to the economy. Source Guardian Read More 

Why We Are Developing Tourism Sector- FG - The Federal Government says its objective of developing  Nigerian tourism sector is to contribute to the establishment of a new international economic order that will help eliminate the widening economic gap between developed and developing countries. Source Vanguard Read More

 

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PROSHARE TECHNOLOGY

Disruption and Innovation - Presentation At The FintechNG Retreat by Dr Andrew Nevin of PwC Nigeria. Source Proshare Read More 

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PROSHARE MSME

PwC Business School to hold a Management Training for SMEs on December 4, 2018- The PwC Management Training for SMEs is hear again. The training is packaged to enable participants learn more about: Source Proshare Read More 

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