Nigeria in 1min: Economic, Business and Financial Headlines – 270219

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Wednesday February 27, 2019 / 7:00 AM / Proshare News

 

 

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PROSHARE ECONOMY 

Buhari Wins Second Term - President Muhammadu Buhari has won his re-election bid as he polled 15,191,847 votes to defeat his closest rival, Alhaji Atiku Abubakar of the Peoples Democratic Party in the presidential poll conducted on February 23. Source Punch Read More

2019 Presidential Results. Source TheNation Read More 

Oil Inches Higher Ahead Of Inventory Data - OIR 260219 - Oil prices fell on Monday but opened up flat on Tuesday, looking to stabilize. President Trump is trying to thread a needle by keeping the U.S. economy from slowing down, while also trying to head off further increases in oil prices.  Source Oilprice Read More 

Shippers Council Slashes Registration Fees By 50% - The Nigerian Shippers Council, NSC, has decided to effect a 50 percent cut on the registration fees it recently introduced for operators in the maritime sector after consultations with relevant stakeholders. Source Vanguard Read More

 

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PROSHARE REGULATORS 

CSCS Gets ISO/IEC 27001:2013 Re-Certification - The Central Securities Clearing System Plc says it has obtained the ISO/IEC 27001:2013 recertification, following the recent audit of its compliance with information security risks controls by the British Standards Institution, United Kingdom. Source Punch Read More

Nigeria Earns N3.72trn From Royalties, Petroleum Tax In One Year - Nigeria earned N3.72 trillion from royalties and petroleum profit tax, PPT, in the oil and gas sector in 2018, according to data obtained from the Central Bank of Nigeria, CBN. Source Vanguard Read More

 

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PROSHARE MARKETS

Brewery Sector Update - Tottering Momentum - Our analysis of brewery sector notes the pressured production volumes, dragged by the impact of stiff competition, lower consumer spending (induced by recessionary pressures) and elevated costs of production. Source Afrinvest Research Read More 

Global Trade Growth Slows Down To 3.3% in 2018 - According to Statistics Netherlands, world trade growth slowed in 2018 to 3.3% compared to 4.7% growth in 2017. Source Timme Spakman*, ING Bank Read More 

Investors Lose N84.39bn As Market Erases Previous Day Gain; NSEASI Dips By -0.69% - Equities market closed today on a negative note, as NSEASI depreciated by -0.69% to close at 32,473.82basis points as against +0.57% appreciation recorded previously. Source Proshare Read More 

Forex: CBN Boosts Market With $210m - The Central Bank of Nigeria (CBN) has injected the sum of $210 million into the inter-bank Foreign Exchange Market. Source CBN Read More 

Absence of CBN OMO Fuels Rally on Long Tenor Bills - The FGN Bond market remained relatively stable with yields marginally lower by c.1bp on the day. Investors remained slightly bullish, but the strength of the demand had waned from the stance in the previous session. Source Zedcrest Capital Read More 

More Firms Issue CPs to Tap Short-term Funding  - More corporates have continued to fund their operations through issuance of commercial papers (CPs) to cover their short-term financing needs.According to experts, the trend would continue until after the general elections and the political uncertainties are over. Source Thisday Read More

 

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PROSHARE BUSINESS 

European General Data Protection Regulations – Highlights - Reliance on internet electronic communication continues to increase. With its numerous benefits also come risks that legislation needs to address, and stay ahead of wherever possible. Source Oserogho & Associates Read More 

Retailers, Merchants Recorded 150,777 Failed Pos Transactions Tuesday - Retailers and merchants all over the country experienced 150,777 failed Point of Sales transactions on Tuesday.The Point of Sales transactions carried out by retailers and merchants totalled 798,833 at exactly 7.10pm on Tuesday and had a high failure rate of 19 per cent, live updates provided by the NIBSS showed. Source Punch Read More 

Glo Seals Pact With Africa Ceos On Economic Growth - In continuation of its desire to promote Africa’s economic development, the telecommunication giant, Globacom (Glo), has thrown its weight behind the 2019 Africa CEO Forum on the initiative. Source Sun Read More 

 

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PROSHARE TECHNOLOGY

MainOne and Facebook Announce Open-Access Fiber Network in Nigeria - MainOne has announced a metro fiber infrastructure project in two states of Nigeria, with support from Facebook. Source APO Read More

 

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