Nigeria in 1min: Economic, Business and Financial Headlines – 311018

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Wednesday October 31, 2018 / 7:00 AM / Proshare News

 

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PROSHARE ECONOMY

A Fall In The FAAC Distribution To N699bn in October 2018- The total monthly payout by the Federation Account Allocation Committee (FAAC) for distribution to the three tiers of government amounted to N699bn (US$2.28bn) in October (from September revenues). Source Proshare Read More 

We Can Only Pay N22,500 As Minimum Wage, Governors Tell Workers - Nigerian governors have announced that states can only afford to raise the national minimum wage from N18, 000 to N22,500 as against the N30,000 being demanded by organised labour. Source Punch Read More 

Power Generation Drops To 2,390MW, 15 Plants Idle - Power generation in the country plunged to 2,390.20 megawatts on Monday as the number of idle power plants rose from seven to 15, according to the latest data from the Federal Ministry of Power, Works and Housing. Source Punch Read More

 

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PROSHARE REGULATORS

 CBN Releases Code of Corporate Governance for Microfinance Banks in Nigeria- The CBN on February 27, 2017 issued the Exposure Draft on the Codes of Corporate Governance for Other Financial Institutions in Nigeria, and comments received from stakeholders subsequent thereto had been incorporated in the Guidelines as appropriate. Source Proshare Read More 

CBN Releases Code of Corporate Governance For Bureaux De Change In Nigeria- The CBN on February 27, 2017 issued the Exposure Draft on the Codes of Corporate Governance for Other Financial Institutions in Nigeria, and comments received from stakeholders subsequent thereto had been incorporated in the Guidelines as appropriate. Source Proshare Read More 

CBN Releases Code of Corporate Governance for Development Finance Institutions in Nigeria- Central Bank of Nigeria - Code of Corporate Governance For Development Finance Institutions in Nigeria. Source Proshare Read More

CBN Releases Code of Corporate Governance for Finance Companies in NigeriaFinance Companies (FCs) play a complimentary role to banks in the business of financial intermediation. Source Proshare Read More

MTN Hires 15 Lawyers To Challenge CBN’s $8.1bn Demand - the CBN, in its statement of defence and counter-claim, urged the judge to dismiss MTN’s suit, insisting that the telecommunications giant must refund $8.1bn to the Federal Government. Source Punch Read More


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PROSHARE MARKETS

SEPLAT Declares N27.97bn PAT in Q3 2018 Results (SP:N644.90k)- Source Proshare Read More 

Lafarge Africa Plc Issues Explanatory Note on Q3 2018 Results Modifications- Lafarge Africa Plc wishes to notify The Nigerian Stock Exchange, shareholders and all the Company’s stakeholders of the following modifications to the unaudited Financial Statements for the quarter ended September 30, 2018: Source  Proshare Read More 

Market Sentiment Turns Negative as NSEASI Dips by -0.08%- Equities market closed today on a positive note, as NSEASI appreciated by -0.08% to close at 33,167.88 basis points as against +0.88% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -13.27%.  Source Proshare Read More 

 OANDO Declares N10.39bn PAT in Q3 2018 Results (SP:N5.05k)- Source Proshare Read More 

Funding Rates Moderate as FAAC Inflows Bolster System Liquidity- ***BPE to raise N300b for 2018 Budget funding*** – Okoh. Source Proshare Read More 

Fidelity Bank Plc Q3 2018 Conference Call and Earnings Presentation - The Key Takeaways- Fidelity Bank Plc held its Q3 2018 Investors and Analyst Conference Call Earnings Presentation. Proshare NG participated along with leading market analysts and professionals. Source Proshare Read More

Forex: Inter-bank Market Gets Another $210m Boost- Authorized dealers in the wholesale segment of the inter-bank foreign exchange market received the sum of $100million as intervention from the Central Bank of Nigeria (CBN) on Tuesday, October 30, 2018 to meet the requests of their customers. Source Proshare Read More 

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PROSHARE BUSINESS

LAWUNION Appoints Ademayowa Adeduro as MD Designate-Law Union and Rock Insurance PLC wishes to notify the Nigerian Stock Exchange and the investing public of the appointment of Mr Ademayowa Adeduro, as the Company's Managing Director/Chief Executive Officer Designate, subject to the National Insurance Commission's approval. Source Proshare Read More                                                                                                                                  

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PROSHARE TECHNOLOGY

Nigeria Ranks Low in META Region’s ICT Growth Index - Information and Communications Technology (ICT) growth index for Middle East, Turkey and Africa (META), has ranked Nigeria low behind Kenya, South Africa, and the United Arab Emirate (UAE). Source Guardian Read More 

Operators Record Marginal Q3 Growth Drops - Although about 2.34 million lines were connected between August and September, the combined growth of the Mobile Network Operator (MNOs) for quarter three (Q3) has revealed a negative sign. Source Guardian Read More

 

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