Nigeria in 1min: Economic, Business and Financial Headlines – 051218

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Wednesday December 05, 2018 / 7:00 AM / Proshare News 

 

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PROSHARE ECONOMY

Forget It; Nigeria Is Not Ready For Agriculture- Cliches. Too many of them exist in Nigeria. Source Proshare Read More 

Has Monetary Policy Reached Its Tether’s End in Nigeria?- I sometimes pity members of the CBN’s Monetary Policy Committee. For the past 12 bimonthly meetings they have held rates - 14% Monetary Policy Rate with a bank of +200 basis points and -500 basis points, liquidity ratio at 30%, and Cash Reserve Ratio at 22.5%. Source Proshare Read More 

The Saudi Dilemma: To Cut or Not To Cut-To cut and push up prices or not to cut and preserve market share, this is the question that Saudi Arabia is facing ahead of this year's December OPEC meeting. Source Proshare Read More 

Over N244.8bn Lost To Breaches In Forcados Pipeline – NNPC - The Nigerian National Petroleum Corporation said on Tuesday that over $800m (N244.8bn) had been lost to breaches in the Trans Forcados Pipeline, one of the nation’s key export routes, this year. Source Punch Read More 

Saraki, Dogara Give National Assembly Management Friday Deadline To Resolve Issues With Workers - The leadership of the National Assembly has given a marching order to the Assembly management to ensure that all issues bordering on the welfare of the protesting workers are sorted out before Friday. Source  Thisday Read More 

 

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PROSHARE REGULATORS

SEC Nigeria Launches Green Bond Rules-The Securities and Exchange Commission of Nigeria (“SEC”) officially launched the Green Bonds Issuance Rules at a ceremony yesterday. Source Proshare Read More 

CBN, EFCC To Expose Banks, Others Over Forex Infractions - The Central Bank of Nigeria has said it will partner with the Economic and Financial Crimes Commission to expose and sanction institutions that work against its foreign exchange policy on stimulating domestic production. Source Punch Read More 

Firms Project Rise In Inflation, Borrowing Rates In December — CBN Survey - Firms operating have projected a rise in inflation rate and borrowing rates this month even as they expect further growth in confidence in macro economy  during the period. Source Vanguard Read More 

$15,000 Special Xmas Intervention Sale To BDCs Begins Tomorrow - The $15,000 weekly Yuletide special intervention foreign exchange (forex) sales to Bureau de Change (BDC) operators commences tomorrow, the Central Bank of Nigeria (CBN) has announced. Source TheNation Read More

 

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PROSHARE MARKETS

Lafarge Africa Plc to Raise N89.21bn By Way of Rights Issue at N12.00 per Share-Lafarge Africa Plc (“Lafarge Africa”) hereby notifies The Nigerian Stock Exchange of the decision of the Board of Directors at the meeting held yesterday, 3rd December 2018 in respect of the proposed Rights Issue. Source Proshare Read More 

Nigerian Investors Record N76.11bn Gain as NSEASI Inches up By 0.68% To Close Above 31,000bpts-Equities market closed today on a positive note, as NSEASI appreciated by +0.68% to close at 31,007.25 basis points as against -0.24% depreciation recorded previously. Source Proshare Read More 

The November 2018 Nigerian Capital Market Service Report – Proshare- Nigerian Stock Market closed the month of November 2018 further down as NSEASI dipped by -4.90% as against -0.92% loss recorded in the month of October 2018 while market YTD performance dished further in the negative territory as it stood at -19.27%at the end of the month under review. Source Proshare Read More 

The CBN Accelerates Its Liquidity Mop Up Exercise With A Fourth Consecutive OMO Auction - Sentiments in the Bond market remained bearish, as investors stay risk-off especially on the short-end of the curve. Higher yields on T-bills continues to lure investors in the interim as the Fixed Income yield curve remains inverted. Source Proshare Read More

 

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PROSHARE BUSINESS 

MTN vs CBN: Court Adjourns to Dec Report of Settlement over Alleged $8.1bn Illegal Repatriation - A Federal High Court in Lagos Tuesday, adjourned until December 12 for report of settlement in a dispute between MTN Nigeria Communications Ltd, and the Central Bank of Nigeria (CBN), over alleged illegal repatriation of $8.1 billion by the telecoms company. Source Thisday Read More

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PROSHARE TECHNOLOGY

2018 AFF : Stakeholders Harp on Infrastructure, Enabling Policies to Scale Fintech in Africa - The African Fintech Festival series the largest gathering of stakeholders in the ecosystem, across the continent hosted its 2018 edition in Lagos, Nigeria. Source Proshare Read More 

NCC Suspends Allocation Of 5G Frequency - The Nigerian Communications Commission has suspended the allocation of frequency spectrums that are likely to be approved by the International Telecommunications Union for 5G network services. Source Punch Read More 

MTN Launches First Disney Mobile Web Service - MTN Nigeria has launched the first Disney mobile web service in Nigeria,Disney nigeria.mobi, loaded with Disney-themed short-form content, games and shareables. The service is the result of a collaborative effort between MTN Nigeria and The Walt Disney Company Africa. Source Vanguard Read More

 

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PROSHARE FINANCE

All You Need to Know about the Second FGN Sukuk- Sukuk is an investment certificate that represents the ownership interest of the holder in an asset or pool of assets. Source Proshare Read More   

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PROSHARE MSME

TEF To Open Applications For Entrepreneurship Programme January - The Tony Elumelu Foundation will begin accepting applications for the fifth cycle of its Entrepreneurship Programme on the 1st of January 2019. Source Leadership Read More

 

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