Nigeria in 1min: Economic, Business and Financial Headlines – 281118

Wednesday November 28, 2018 / 7:00 AM / Proshare News

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PROSHARE ECONOMY

States Generate N579.49bn as IGR in H1 2018 – NBS-The National Bureau of Statistics Publishes Internally Generated Revenue at State level for Half Year 2018. Source Proshare Read More 

Nigeria is The Second Largest Producer of Tubers in The World- Nigeria is currently the second largest producer of tubers in the world with output level of 109.58mn tonnes after China (176.63mn tonnes). Source Proshare Read More 

How Blockchain Will Transform Agric in Nigeria-Quan Le, CEO Binkabi- AFEX Commodities Exchange Limited, alongside Binkabi in partnership with Sterling Bank have decided to make use of Blockchain Technology to streamline the process of financing agriculture to smallholder farmers and other players in the commodities markets. Source Proshare Read More 

FG Recovers N540bn via Whistle Blower Policy - The Economic and Financial Crimes Commission (EFFC) has recovered over N540 billion through the whistleblower policy, the federal government disclosed Tuesday.The revelation was made by the Minister of Information and Culture, Alhaji Lai Mohammed, at the 71st General Assembly of the Broadcasting Organisations of Nigeria (BON) in Port Harcourt. Source Thisday Read More 

Senate to FG : Suspend Planned 500% Increase in Tariff on Alcoholic Beverages - The Senate yesterday directed the federal government to suspend the implementation of the proposed 500 per cent hike in excise tariff on alcoholic beverages and tobacco products. Source Thisday Read More 

NAQS Declares State Govts’ Levy Collection On Agric Produce Illegal - TheNigerian Agricultural Quarantine Service, NAQS, yesterday, declared all state governments’ levy collecting agents on federal highways targeting agricultural produce as illegal. Source Vanguard Read More 

Why Nigerian Products Are Rejected Abroad – FG - The Federal Government yesterday said the failure of manufacturers to conform to global standards in production and packaging explained why some Nigerian products were rejected in the international market. Source Dailytrust Read More 

FG Approves New Regulations To End Gas Flaring - The Federal Government has approved new regulations to end the nefarious practices of flaring natural gas by oil producing and prospecting companies in the country. Source Sun Read More

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PROSHARE REGULATORS

CBN Warns Banks On Korean ATM Hackers - In an effort to mitigate losses to the financial sector through the activities of cyber criminals, the Central bank of Nigeria (CBN) has warned commercial banks on Automated Teller Machines (ATMs) infected by the hackers. Source Leadership Read More 

ASEA Elects New Executives - The African Securities Exchanges Association (ASEA) has elected Mr. Karim Hajji, Chief Executive Officer of the Casablanca Stock Exchange, as its new president. Hajji took over from Mr. Oscar Onyema, Chief Executive Officer of Nigerian Stock Exchange (NSE), who had completed two terms of two years. Source TheNation Read More

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PROSHARE MARKETS

Opening Remarks At The African Securities Exchanges Association Conference – Oscar Onyema-Opening remarks by Mr. Oscar n. Onyema, OON, CEO of the Nigerian Stock Exchange at the 22nd African Securities Exchanges Association (ASEA) Annual conference holding at the Oriental hotel, Lagos on November 26, 2018. Source Proshare Read More

Treasury Bill Auction Schedule for November 28th 2018-A primary auction of CBN Treasury Bills will take place tomorrow, Wednesday, November 28th, 2018. Source Proshare Read More

HMARKINS Records 15% Gains After Announcing Plans To Hold An EGM Over Fresh Capital Raising Plan - The shares of Consolidated Hallmark Insurance Plc have risen by 15.15 percent between November 5^th, 2018 when the underwriting firm notified the public via the Nigerian Stock Exchange (NSE) of its plan to raise fresh capital and November 26^th, 2018. Source Proshare Read More

Market Sentiment Remains Negative as NSEASI Dips Further By -1.14% -

Equities market closed today on a negative note, as NSEASI depreciated by -1.14% to close at 31,173.71 basis points as against -0.46% depreciation recorded previously. Source Proshare Read More

Central Bank Conducts Yet Another OMO Auction in a Bid to Manage Excess Liquidity - Risk-off sentiments on FGN Bonds continued today as the market opened the week on quiet note. Market trading volumes remained on a decline with less than N1bn executed intraday, reflecting the weak appetite for FGN bonds.  Consequently, yields traded flat across the curve, with slight sell-off seen at the short-end (2020s) and mid-end of the curve (2027s & 2028s).Source Proshare Read More

SEPLAT Announces Notification of Dealing in Shares by Person Discharging Managerial Responsibilities - The Company was notified of the sale of 1,200,000 ordinary shares indirectly held by Dr. A.B.C Orjiako, the Chairman of the Company. Following the sale, Dr. Orjiako now holds a direct interest in 16,151,325 ordinary shares and an indirect interest in 29,800,000 ordinary shares of the Company totaling 45,951,325 shares which equates to a voting interest of 7.81% (based on Issued Share Capital of 588,444,561). Source Proshare Read More

Bearish Market for Nigerian Sovereign Eurobonds as Oil Price Trades Again Below the $60 Mark - Activity picked up in the Bonds market, with mixed sentiments in today’s trading session today. Bargain hunting by local clients dominated late trades across the mid-end of the curve, mostly on the 2027s. Yields consequently compressed by c.1bps to close at 15.46% on the average across the curve. Source Proshare Read More

Foreign Portfolio Outflow To Continue At Current Pace - The withdrawal of funds by foreign portfolio investors (FPIs) from the equities market will continue at the current pace in the remaining part of the year even as the campaign for the 2019 polls gathers momentum across Nigeria. Source Vanguard Read More

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PROSHARE BUSINESS

Dangote Group Emerges Most Valuable Brand at 2018 IAMBRANDNIGERIA Awards -Nigeria’s largest conglomerate Dangote Group emerged the outstanding brand at the 2018 edition of the #IAMBRANDNIGERIA awards which hosted in Lagos, the nation’s economic capital. Source Proshare Read More 

Fbnquest, Meristem Get Recognition At Finance Awards - FBNQuest Asset Management and Meristem Stockbrokers Limited have received recognitions at the 2018 BusinessDay Banking and Financial Industry awards. Source Punch Read More 

UUBO Hosts ground-breaking Thought Leadership Forum on ICE, December 6, 2018, in Lagos- Udo Udoma & Belo-Osagie is pleased to announce its Investigations, Compliance and Ethics (ICE) Academy, which is another event in UUBO’s Learning and Engagement Series. Source Proshare Read More

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PROSHARE FINANCE

Limited Penetration of The PFAs; Asset Under Management Increased By 16.5% to N8.35trn-The assets under management (AUM) of the regulated pension industry increased by 16.5% y/y in September to N8.35trn (US$27.2bn). Source Proshare Read More

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