Nigeria in 1min: Economic, Business and Financial Headlines – 260219

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Tuesday February 26, 2019 / 7:00 AM / Proshare News

 

 

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PROSHARE ECONOMY 

Oil Prices Up On Trade Optimism - OIR 220219 - Oil prices are set to end the week up for the second week running, with both trade sentiment and production cuts adding bullishness to oil markets. Source Oilprice.com Read More 

Incentivizing The Private Sector to Support Nigeria’s Investment in Human Development - Muda Yusuf - At the recent 3rd edition of the Vanguard Economic Summit Mr. Muda Yusuf  Director General of Lagos Chamber of Commerce and Industry gave his perspective on issues of human improvement and the nations development index. Source Proshare Read More

GDP By Income and Expenditure Approach Q1 and Q2 2018 - Household Final Consumption Grew by 0.78% - In the first and second quarters of 2018, real GDP grew by 2.04% and 1.46% respectively, building on the growth recorded in 2017 which stood at 0.81%. When compared with the corresponding quarters of 2017, real GDP growth rate increased by 3.09% points and 0.68% points in Q1 and Q2 2018 respectively. Source NBS Read More


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ELECTION RESULTS UPDATE

Elections Live Blog. Source Guardian Read More

Live Updates: 2019 Presidential Election Results. Source Punch Read More

Live Updates: Presidential Election Results. Source Thisday Read More

Live Updates: 2019 Presidential Election Results. Source TheNation Read More

Live: 2019 Presidential Election Results (Official). Source Dailytrust Read More

Nigeria Presidential Elections Results 2019 - Nigerians went to the polls on 23 February, with President Muhammadu Buhari (APC) expected to face a strong challenge from Atiku Abubakar (PDP) in the presidential contest. Source BBC Read More

Buhari Wins Seven States, Atiku Four, PDP Rejects Results - The Independent National Electoral Commission on Monday started the announcement of the results of Saturday’s presidential election.As of the time of filing this report, INEC had announced the result in 10 states and the Federal Capital Territory. Source Punch Read More  

 

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PROSHARE MARKETS

Money Market Rate Increased as Overnight Rate Rose to 20.25% - The money market rate increased last week as the Overnight rate (OVN) and Open Buy Back (OBB) rose to 20.25% and 15.83% respectively. Source Anchoria AM Research Read More 

Bullish Sentiment Resurfaces as Average Yield Retreat to 14.2% - The Treasury Bills (“T-Bills”) secondary market last week traded on bullish sentiments as investors’ anticipation of OMO auctions fell flat as the Central Bank held-off in a bid to ease pressure on system illiquidity. Source Afrinvest Research Read More 

Cement Sector Update - In Search of Growth Triggers - In this report, we have highlighted the factors that have posed the most challenges to the cement sector. Source Afrinvest  Read More

NSEASI Inches up By 0.57% To Open The Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by +0.57% to close at 32,700.12basis points as against -0.16% depreciation recorded previously. Source Proshare Read More 

UACN: A Giant on its knees - If any stock qualified to be called a blue chip, it was once UACN; however the company’s 9 months result for 2018 shows a corporate giant that is now on bended knees. Source Proshare Read More 

Coupon Payments Bolster Demand on 10-year FGN Bond - The Bond market remained firmly bullish, with yields compressing marginally by c.9bps on average. This was following strong buys around the mid tenors’ with the most demand on the 2028s (-16bps) which had coupons totalling c.N49bn paid on the maturity. Source Zedcrest Capital Read More 

 

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PROSHARE BUSINESS 

The Accounting Profession: Throw Back, Throw In and Throw Out - I agree absolutely with the word of God as written in the International Standard Version of the Bible in Ecclesiastes 9:11. Source Professor Onafowokan O. OLUYOMBO* Read More 

Illegal fund manager – Dantata Success and Profitable Company - The Securities and Exchange Commission (the Commission) pursuant to its powers under Section 13 (w) of the Investments and Securities Act (ISA), 2007, on 6 February 2019 sealed up the business premises of Dantata Success & Profitable Company (DSPC). Source SEC Nigeria Read More

CBN Releases N596bn For 576 Agric Projects - As of November 19, 2018, the total amount released by the Central Bank of Nigeria under the Commercial Agriculture Credit Scheme from inception to the participating banks for disbursement stood at N596.44bn for 576 projects. Source Punch Read More

Court Upholds Order Restraining NAICOM From Suspending Guinea Insurance - A Federal High Court sitting in Abuja has upheld an earlier order restraining the National Insurance Commission (NAICOM) from suspending Guinea Insurance Plc over underwriting of new insurance businesses. Source Vanguard Read More

 

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