Nigeria in 1min: Economic, Business and Financial Headlines – 270319

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Wednesday March 27, 2019 / 7:10 AM / By News Aggregator

 

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PROSHARE ECONOMY

FAAC Disburses N660.37bn in February 2019 - The Federation Account Allocation Committee (FAAC) disbursed the sum of N660.37bn to the three tiers of government in February 2019 from the revenue generated in January 2019. Source NBS Read More

MPC Reduces MPR By 50bps To 13.50pct From 14pct - The Monetary Policy Committee (MPC) meeting that held on the 25th and 26th March has just been concluded with the following policy decisions. Source CardinalStone Read More

CBN Communiqué No. 123 of the MPC Meeting – Mar 25-26, 2019 - The Monetary Policy Committee (MPC) met on the 25th and 26th March, 2019; against the backdrop of developments in the global and domestic economic environments in the first quarter of 2019.  Eleven (11) members of the Committee were present. Source CBN Read More

Discos Got N438bn Energy Revenue In 2018, Hit 66% Efficiency - The Association of Nigerian Electricity Distributors (ANED) said 10 Distribution Companies (DisCos) reached 66 per cent collection efficiency as they collected N438 billion revenue for energy served to consumers in 2018. Source Dailytrust Read More

OPEC Supply Cut Firms Up Oil Prices - Oil prices appreciated yesterday with the support of ongoing supply cuts led by producer club OPEC, and by U.S. sanctions on Iran and Venezuela, but analysts warned that signs of a sharp economic slowdown could soon drag on crude markets. Source Leadership Read More

Reps Suspend MTEF Meeting Over Emefiele, Baru, Others’ Absence - The joint committee set up by the House of Representatives to work on the 2019-2021 Medium- Term Expenditure Framework and Fiscal Strategy Paper presented to the National Assembly by President Muhammadu Buhari on Tuesday suspended its sitting as invited Federal Government officials failed to show up. Source Punch Read More

 

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PROSHARE REGULATORS

Federal Competition and Consumer Protection Act - The Federal Competition and Consumer Protection Act was enacted by the National Assembly in December 2018, and subsequently signed into law by President Muhammadu Buhari in January 2019. Source KPMG Nigeria Read More

 

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PROSHARE MARKETS

ACCESS Updates on Scheme Consideration of Cash and Shares for Shareholders of DIAMONDBNK - The shareholders of Diamond Bank Plc are therefore required to take the necessary steps to ensure the accuracy of their personal details (Full name, address, email address, mobile number and BVN) with the registrars of Access Bank PLC. Source NSE Read More 

NSEASI Dips Marginally By -0.01% As Market Sentiment Remains Negative - Equities market closed today on a negative note, as NSEASI depreciated by 0.01% to close at 31,038.86basis points as against 0.31% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -1.25%. Source Proshare Read More 

Shareholders Commend Africa Prudential Plc for Paying 50k Dividend - Shareholders at the 6th Annual General Meeting of Africa Prudential Plc in Lagos, lauded the financial services firm for paying 50k dividend amidst a challenging macro-economic environment in 2018. Source Proshare Read More 

FMDQ To Banks: Hedge Dollar-Based Loans - Commercial banks taking dollar-denominated loans should hedge the facility against risk of currency fluctuations, FMDQ OTC Securities Exchange Managing Director/CEO Bola Onadele has said. Source TheNation Read More

 

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PROSHARE BUSINESS 

CAM Bill 2018: Legacy or Laggards - From the 1856 Act when the U.K. created the first codification of business law (in company law) regular revisions have been adopted to modernise and simplify the codes to promote trade, enterprise and to create an enabling environment for investment to thrive. Source Proshare Read More

Reforming The Business Climate In Nigeria: Critical Changes Introduced By The CAM Bill, 2018 - On Tuesday, January 22, 2019, the House of Representatives of the Federal Republic of Nigeria, at plenary, considered and adopted all the provisions of the Companies and Allied Matters Act (Repeal and Re-enactment) Bill, 2018 (the “CAM Bill”). Source Banwo & Ighodalo Read More

CBN To Review Payment Service Vision 2020 - The Central Bank of Nigeria says it is set to review the Payment Service Vision 2020 in furtherance of its payment system objectives and in response to the developments in the system. Source Punch Read More

UK's Weakened PM May Still Hoping To Push Her Brexit Deal Through - British Prime Minister Theresa May will address her Conservative lawmakers on Wednesday, possibly to set out a timetable for her departure in a last throw of the dice to win support for her twice-rejected Brexit deal in parliament.  Source Reuters Read More

 

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