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Nigeria in 1min: Economic, Business and Financial Headlines – 300518

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Tuesday, May 30, 2018 / 7:00 AM / Proshare News

 

PROSHARE ECONOMY

Democracy Day: Taking Stock of Social Well-Being and Economic Freedom - There is the danger of limiting democracy to just freely expressing oneself, performing the statutory responsibilities of choosing leaders and the existence of democratic institutions. Source Proshare Read More 

FRC says over N650bn remitted into Consolidated Revenue Fund in 2 yrs - The Acting Chairman, Fiscal Responsibility Commission (FRC), Mr Victor Muruako, has said that over N650 billion has been remitted as operating surplus into the Consolidated Revenue Fund (CRF) in the last two years. Source Daily Trust Read More 

$650m Capital Injection Raises Nigeria’s Savings in SWF to $2.15bn - Following the approval by the National Economic Council for a fresh cash injection of $650m (N198.25 billion) into the Nigerian Sovereign Investment Authority (NSIA), managers of the Sovereign Wealth Fund (SWF), Nigeria’s savings in the fund since its establishment seven years ago has risen to $2.15 billion. Source Thisday Read More 

Made in Aba trade attracted N3bn direct order – Ikpeazu - Abia State Governor Dr Okezie Ikpeazu has said that the Made-In-Aba Campaign has opened new doors of opportunities for producers in Aba. Source Daily Trust Read More

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PROSHARE MARKETS

Pension manager invests N350b in equity market - Stanbic IBTC Pension Managers Ltd. (SIPML) says the company’s Assets Under Management (AUM) presently stands at N2.53 trillion with N350 billion invested in the equities market. Source THE NATION Read More 

BDCs to access $48m from CBN Wednesday - Bureau De Change Operators (BDCs) tomorrow, May 30, 2018 access foreign exchange to the tune of about $48 million from the Central Bank of Nigeria (CBN). Source BUSINESSDAY Read More 

Power sector records N187bn loss in 6 months - THE electricity sector has recorded losses amounting to N187 billion as a result of inadequate gas, poor distribution and transmission as well as water reserves constraints. Source Vanguard Read More 

Power: Discos fail to remit N112bn, says NERC - Power distribution companies failed to remit a total of N112bn to the Nigerian Bulk Electricity Trading Company and the Market Operator of the sector in the first quarter of this year. Source Punch Read More

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PROSHARE BUSINESS

Why Trust Matters in Business And Governance - The 2018 Edelman Trust Barometer - This is an executive summary of the 2018 Edelman Trust Barometer, the firm’s 18th annual trust and credibility survey. The research was conducted by Edelman Intelligence, a global insight and analytics consultancy. Source Proshare Read More 

Chain Reactions To Unveil The 2018 Edelman Trust Barometer Report In Nigeria - Chain Reactions Nigeria, one of Nigeria’s leading Public Relations and Integrated Communications Consulting Firms and the Exclusive Nigerian Affiliate and the Preferred West Africa’s Partner of Edelman, the world’s largest PR firm with presence in 65 countries across the globe, will on Thursday, 31st May host an event to unveil the report of the 2018 Edelman Trust Barometer. Source Proshare Read More 

BRICS development bank to expand lending to private sector - The New Development Bank (NDB), set up by the BRICS group of major emerging economies, wants loans to the private sector to eventually take up a 30 percent share of its project portfolio, a senior executive at the bank said on Tuesday. Source Reuters Read More 

Afreximbank to give Angola $2 billion in financing support - The African Export-Import Bank (Afreximbank) said on Tuesday it is arranging up to $2 billion in financing support to Angola for essential imports including food items and pharmaceuticals. Source Reuters Read More 

Oil prices edge down amid worries Saudi Arabia, Russia could up supply - Oil prices inched down on Wednesday amid concerns that Saudi Arabia and Russia will pump more crude in the second half of the year in response to falling global crude inventories and rising consumer prices. Source Reuters Read More

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PROSHARE TECHNOLOGY

MTN Ghana to raise nearly $750 million in IPO -source - MTN’s Ghana business is seeking to raise 3.47 billion cedis ($743 million) in a 35 percent initial public offering to be launched on Tuesday, sources involved in the IPO said. Source Reuters Read More

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