Nigeria in 1min: Economic, Business and Financial Headlines – 250119

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Friday January 25, 2019 / 7:00 AM / Proshare News 

 

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PROSHARE ECONOMY

Nigeria 2019 Research Outlook: One Hurdle in Q1, Others to Follow - The investor interest in the elections is that they should be completed on schedule and with a clear mandate. Source FBNQuest Capital Read More 

Saudi Arabia: We'll Pump the World's Very Last Barrel Of Oil - OPEC's largest producer continues to expect global oil demand to keep rising at least by 2040 and sees itself as the oil producer best equipped to continue meeting that demand, thanks to its very low production costs. Source Oilprice.com Read More 

FG Plans to Commence Lagos-Abeokuta Rail Operations In February - Managing director of Nigerian Railway Corporation Engr. Fidet Okhiria has said that passenger train service from Iju in Lagos State to Abeokuta in Ogun State on the new standard gauge railway line will commence in February this year. Source Leadership Read More 

NDIC Paid N7bn To FG In 2018 –Ibrahim -The Nigeria Deposit Insurance Corporation on Thursday said it remitted N7bn into the Consolidated Revenue Fund as its operating surplus for 2018 operations. Source Punch Read More 

Govt Advises Power Firms To Be Less Dependent On Forex - The Minister of Power, Works and Housing, Babatunde Fashola, yesterday advised power firms to be less dependent on other countries for human and material resources. Source TheNation Read More 

Minimum Wage Bill Passes Second Reading - Barely a day after it got to the National Assembly, the National Minimum Wage Bill yesterday passed the crucial first and second reading in the Senate and the House of Representatives. Source TheNation Read More

No Discrepancies In 2019 Budget Proposals — Akabueze - The Director-General of the Budget Office of the Federation, Ben Akabueze, on Thursday, said that there are no discrepancies in the 2019 budget proposal which is currently before the National Assembly. Source Punch Read More


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PROSHARE REGULATORS

CBN Publishes Banknote Fitness Guidelines - One of the mandates of the Central Bank of Nigeria is the issuance of Legal Tender Currency in Nigeria. Source CBN Read More 

Nigeria Plans Tougher Bank Capital Rules as Bad Debts Weigh - Nigeria’s central bank plans to introduce fresh capital rules in the second quarter, threatening to heap pressure on lenders already weighed down by bad loans. Source Bloomberg Read More

 

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PROSHARE MARKETS

DMO to Offer c.N400bn of FGN Bonds in Q1 2019 - The Bond market traded on a relatively flat note, with yields compressing marginally by c.1bp on the day following slight interests on some mid tenors. Source Zedcrest Capital Read More 

Invest in FGN Monthly Bond Auction – January 2019 - The Central Bank of Nigeria on the authority of The Debt Management Office on behalf of the Federal Government of Nigeria Offers for Subscription by Auction. Source DMO Read More 

PZ Cussons Nigeria Q2 2019 Results Review: Earnings Driven by Muted FX Impact - PZ Cussons Nigeria (PZ) posted a PBT growth of 55% to N1.4bn in H1 2019 (end-Nov). The result was supported by a lessened fx impact; fx losses of –N525m were posted versus –N2.6bn in H1 2018. Source FBNQuest Capital Read More

Market Maintains Positive Posture as NSEASI Inches up Further By 0.36% - Equities market closed today on a positive note, as NSEASI appreciated by +0.36% to close at 30,989.60 basis points as against +0.46% appreciation recorded previously. Source Proshare Read More 

T-Bills Ease up Bullish Run as CBN Sells c.N410bn OMO Bills - The Bond market traded on a slightly bearish note, with yields ticking higher by c.3bps on average, as market players reacted to release of the Q1 FGN bond calendar. Source Zedcrest Capital Read More

Key Takeaways from Access Bank-Diamond Bank Stakeholders Call Conference - In an effort to keep stakeholders updated on ongoing pre-merger activities between Access and Diamond Bank management of both institutions held a joint conference call meeting today Thursday January 24, 2018. Source Proshare Read More 

Mutual Funds -A Tale of Mixed Fortunes - Nigeria’s mutual funds market showed mixed fortunes in 2018 as equity-based funds saw net asset values (NAVs) fall as their money market counterparts fared much better. Source Proshare Read More

 

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PROSHARE BUSINESS 

Global Shipping Rates Slump in Latest Sign of Economic Slowdown-Freight rates for dry-bulk and container ships, carriers of most of the world’s raw materials and finished goods, have plunged over the last six months in the latest sign the global economy is slowing significantly. Source Reuters Read More

Kogi Shuts MTN Facilities Over N120m Tax Default - The Kogi State Internal Revenue Service (KGIRS) has again shut down facilities of telecommunications giant, MTN Nigeria, over failure to pay tax obligations to the tune of N120 million to the government. Source Dailytrust Read More 

 

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PROSHARE TECHNOLOGY

Microsoft's Bing Search Engine Has Been Blocked in China - Microsoft’s Bing search engine was banned in China on Thursday, according to the Associated Press. Microsoft confirmed to Fortune that the search engine has been banned in China and said that it was determining its “next steps.”  Source Fortune Read More 

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PROSHARE MSME

10 Takeaways from Development Bank of Nigeria Year to Date Business Presentation - The Development Bank of Nigeria today in Lagos, hosted a year-to-date business presentation on its activities since inception. Source Proshare Read More

 

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