Nigeria in 1min: Economic, Business and Financial Headlines – 311218

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 Monday December 31, 2018 /7:00 AM / Proshare News

 

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PROSHARE ECONOMY

Wheat Prices down by 0.12% to $5.24 Per Bushel - Brent oil jumped 6% to $53.31pb after crashing below $50pb on Christmas Eve. Source FDC Read More 

Unemployment Rate Up To 23.1% in Q3’18 and Implications on Fiscal Policy-The long-awaited data on labour statistics for Q4’17 - Q3’18 has been released. In line with expectations, Q3’18 unemployment numbers came in 4.3% higher at 23.1% while the underemployment rate declined by 1.1% to 20.1%. Source FDC Read More 

GDP Growth Expanded in Q3’18 To 1.81% - Q3 GDP expanded by 1.81% up from 1.5% in the previous quarter. Source FDC Read More 

Increasing Life Expectancy in Nigeria through Higher Health Investments - According to the World Health Organization (WHO), an average Nigerian is expected to live approximately 55.2 years from birth. Source FDC Read More 

Climate Change and Food Security - Most Nigerians are well aware that the agricultural sector has been neglected in favour of oil and gas. Source FDC Read More

Power Supply Crossed The 4,000MWh Threshold in 19 Out of The 30-day Review Period - The average power output from the national grid within the review period was 4,038MWh/h, 7.62% higher than the average of 3,752MWh/h in the corresponding period in October. Source FDC Read More

FAAC Disburses N788.14bn in November 2018 – NBS - The Federation Account Allocation Committee (FAAC) disbursed the sum of N788.14bn to the three tiers of government in November 2018 from the revenue generated in October 2018. Source NBS Read More

Manufacturing PMI Stands at 61.1% in December 2018 from 57.9% in November 2018 - The December 2018 PMI survey was conducted by the Statistics Department of the Central Bank of Nigeria during the period December 10-14, 2018. Source CBN Read More 

Oil Prices Set To Rebound In 2019 - The recent oil price plunge appears to have been halted as a volatile week draws to an end, with a rebound in prices looking likely at the start of 2019. Source Oilprice Read More

FIRS Paid N4.62tn To FG In 11 Months - A total sum of N4.62tn has been paid into the federation account between January and November this year by the Federal Inland Revenue Service, figures obtained from the Ministry of Finance have revealed.  Source Punch Read More

Afreximbank, AGF Seal Deal - The African Export-Import Bank (Afreximbank) has signed an agreement with the African Guarantee Fund (AGF) for a $30 million re-guarantee facility to support African small and medium-sized enterprises (SMEs) in the trade value chain to access funds for their activities. Source Thisday Read More 

 

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PROSHARE REGULATORS

CBN Deploys Consumer Complaints Management System Effective Jan 02, 2019-The Central Bank of Nigeria (CBN), in furtherance of its mandate to promote a stable financial system embarked on the development of the Consumer Complaints Management System (CCMS), an automated system aimed at easing complaints management to engender public confidence in the financial system. Source CBN Read More


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PROSHARE MARKETS

NSE Launches X-Bot to Enhance Market Participation-The Nigerian Stock Exchange (NSE or The Exchange) is pleased to announce the launch of X-Bot, an artificial intelligence (AI)-powered Chatbot that responds directly and automatically to enquiries through Facebook Messenger. Source NSE Read More

NSEASI Dips Further By -2.07%; Records 0.86% Gain WoW-Equities market closed today on a negative note, as NSEASI depreciated by -2.07% to close at 31,037.72 basis points as against -0.86% depreciation recorded previously. Source Proshare Read More

Naira Crashes Below N360 Per Dollar at the Parallel Market as External Reserves Resume Downtrend - Having rallied by c.10bps in the previous session, the Bond market traded on a much calmer note today, with demand on the 2036s compressing yields marginally by c.1bp on average. Source Zedcrest Capital Read More

Market Review and Round-Up of Corporate News Announced During The Week Ending 281218 - The equities market recorded positive performance – the listed equities market recorded +0.86% gain WoW while the NASD OTC also went up by +2.94% WoW. Source Proshare Read More

NASD Data Portal Now Available To All Stakeholders - As at close of trade week on 27 December 2018, market Capitalisation increased to509.69 billion from last week's previous 495.12 billion, which shows a 2.94% increase in Capitalisation. Source NASD Read More

NSE Expels Thirty Five Stockbroking Firms - The Nigerian Stock Exchange (NSE) has expelled 35 stockbroking firms. The exchange disclosed this in a notice published in yesterday’s edition of the Punch newspaper. Source NSE / NairametricsRead More

What To Expect From The Markets This Week - 311218 - Despite a 207bps d/d moderation and two negative closes in the shortened week, the pre-Christmas rally held as the ASI closed out the week 86bps in the green. The biggest loser on Friday was the Oil & Gas sector (-463bps d/d, +208bps w/w). Source Proshare Read More


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PROSHARE BUSINESS 

The Legality or Otherwise Of Keeping Large Sums Of Cash (Money) At Home or In Local Transit - Is there limit to the amount of money, whether local or foreign currency, that one can keep at home or move around with? Must one keep his money in the bank? Source O.G. Chukkol Read More

NCAA Fines Four Airlines For Infractions, Suspends One Licence - The Nigerian Civil Aviation Authority has sanctioned four scheduled and non-scheduled airline operators for various degrees of violations. Source Punch Read More 

 

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