Nigeria in 1min: Economic, Business and Financial Headlines – 301018

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


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PROSHARE ECONOMY

FSDH Research Believes It Is Time to Actively Involve the Private Sector to Fund Infrastructure in N- FSDH Research believes it is time for the Federal Government of Nigeria (FGN) to involve the private sector to finance the infrastructure gap in Nigeria. Source Proshare Read More


Govs Hold An Emergency Meeting Today Over Minimum Wage - Governors under the auspices of the Nigeria Governors’ Forum have summoned all 36 members to an emergency meeting to discuss the minimum wage and possibly take a common position. Source Punch Read More 


#NES24: Leveraging Domestic Resource Mobilization For Sustainable Development(2)-From the just concluded 24th edition of the Nigeria Economic Summit in Abuja, we bring you some key highlights of the panel session “Leveraging Domestic Resource Mobilization For Sustainable Development” which was moderated by MrOlufemiAwoyemi, FCA the CEO of Proshare Nigeria Limited. Source Proshare Read More


Bank of Agriculture to Get N250 billion Lifeline - The Federal Government yesterday said that it would boost the operations of the Bank of Agriculture (BOA), with N250 billion to enable it to grant credit access to farmers. Source Guardian Read More


SGF: Boards Have No Power to Suspend CEOs of Parastatals - No governing board of a federal agency or parastatal has the power to remove the chief executive appointed by the President, the secretary to the Government of the Federation, Boss Mustapha, declared Monday.  Source Thisday Read More 

NNPC, Others Yet to Remit $22.06b, N481.75b - The Nigerian National Petroleum Corporation (NNPC), its subsidiary, Nigerian Petroleum Development Company (NPDC), and companies in the oil and gas sector are yet to remit $22.06 billion and N481.75 billion into the Federation Account, the Nigeria Extractive Industries Transparency Initiative (NEITI) declared yesterday.  Source Guardian Read More   

Nigeria Ranks 33 Out of 54 in Overall Governance - Nigeria scored 47.9 in overall governance, ranking 33 out of 54 countries in Africa, the Mo Ibrahim foundation says.  Source Nation Read More   


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PROSHARE REGULATORS 
CBN Confirms 34 Primary Mortgage Banks - The Central Bank of Nigeria has listed only 34 firms as licensed primary mortgage banks in Nigeria.  Source Punch Read More  


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PROSHARE MARKETS

Money Market Rate Decreases as Overnight Rate Falls to 11.42%-The money market rate decreased last week as the Overnight rate (OVN) and Open Buy Back (OBB) fell to 11.42% and 10.33% respectively. Source ProshareRead More


Expensive Domestic Debt Whets Appetite For More Eurobonds-Last week, the Senate approved President Buhari’s proposal to issue USD2.8 billion worth of foreign currency denominated paper to help finance the 2018 budget. Barring an eleventh-hour backpedal, we expect the FGN to hit the Eurobond waters – anytime from now – and glide successfully, despite sustained foreign investors’ apathy towards Nigeria’s debt and equities markets in recent times. Source Proshare Read More


Diamond Bank Plc 9M 2018 - Underlying Pressures Persist-Diamond Bank PLC (DIAMONDBNK) released unaudited nine-month 2018 result alongside restated figures for nine-month 2017 following divestment from its West African business operation. Source Proshare Read More


Market Opens Week Positive as NSEASI Inches Up by 0.88%; Closes Above 33,000bpts-Equities market closed today on a positive note, as NSEASI appreciated by +0.88% to close at 33,196.07 basis points as against +1.11% appreciation recorded previously. Source Proshare Read More


MTN Nigeria’s listing delayed by CBN, AGF accusations – CEO - The Chief Executive Officer and President of the MTN Group, Rob Shuter, says the listing of the company on the Nigerian Stock Exchange has been challenged by accusations by the Central Bank of Nigeria and the Attorney General of the Federation. Source Punch Read More 


Seychelles launches World’s First Sovereign Blue Bond - The Republic of Seychelles has launched the world’s first sovereign blue bond—a pioneering financial instrument designed to support sustainable marine and fisheries projects. Source Proshare Read More


Commodity Markets Outlook: Modest Oil Price Rise, Trade Uncertainty - Commodity prices have moved in different directions in recent months – energy prices rose while agriculture and metal prices fell – and are expected to rise or stabilize in 2019, according to the October Commodity Markets Outlook. Source Proshare Read More


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PROSHARE BUSINESS

NACHO Board Accepts The Resignation of Chairman And a Non-Executive Director; Appoints Replacement-Nacho Aviance notifies its esteem shareholders, the general public and the Nigerian Stocks Exchange (NSE) that the Board of Directors of Nigerian Aviation Handling Company Plc (nacho aviance) has accepted the voluntary resignation of Arc Usman Bello and Mr. Ahmed T. Uwais as the Board Chairman and a Non-Executive Director of the Company respectively with effect from 25th October, 2018. Source Proshare Read More

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PROSHARE TECHNOLOGY

Local Venture Capital Fund Formation Is On The Rise In Africa, Led By Nigeria - Africa’s VC landscape is becoming more African with an increasing number of investment funds headquartered on the continent and run by locals, according to data from Crunchbase. Source Proshare Read More


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PROSHARE MSME

Entrepreneurship is the Key to Unlocking Economic Development on Our Continent - Tony Elumelu-5,000 African entrepreneurs, private and public sector leaders and the broader entrepreneurship ecosystem convened in Lagos on Thursday, October 25, 2018 for the annual Tony Elumelu Foundation (TEF) Entrepreneurship Forum. Source Proshare Read More


#TEFforum2018: 10 Key Takeaways-The Tony Elumelu Entrepreneurship Programme the largest gathering of African entrepreneurs in the globe, successfully hosted its fourth edition on Thursday October 25, 2018 at the Federal Palace Hotel in Lagos. Source Proshare Read More


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PROSHARE FINANCE

How To Build An Education Fund For Your [Unborn] Child[ren]-Millennials are now becoming fathers and mothers. Source Proshare Read More


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