Nigeria in 1min: Economic, Business and Financial Headlines - 011019


Tuesday, October 01, 2019 / 06:45 AM / By News Aggregator


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CBN Directs Banks To Report Suspicious Transactions On UN Security Council Resolutions On Proliferat - Financial institutions are advised to continuously screen both customers and transactions against global sanctions lists and stop all transactions; freeze, without delay, all funds, owned or controlled, directly or indirectly, by individuals and entities designated by the UN Sanctions Committees. Source CBN Read More

Crude Drops To $60.8 As OPEC Output Sinks - Brent crude dropped again in price on Monday, shedding $1.09 to close at $60.82 per barrel. Also, the oil output of the Organisation of Petroleum Exporting Countries fell to an eight-year low in September after attacks on Saudi Arabia oil plants cut production. Source Punch Read More


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SEC Issues Exposure Of New Rule On Registration Of Fixed Income Existing Securities - The following fee structure shall apply to the registration of existing fixed income securities (including dual listings). Source SEC Nigeria Read More                                                            


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NSEASI Dips By -0.16% To Open The Week Negative - Equities market closed today on a negative note, as NSEASI depreciated by -0.16% to close at 27,630.56 points as against +0.35% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -12.09%. Source Proshare Markets Read More 

SEC Nigeria Inaugurates Private Equity Committee - Apex regulator of the Nigerian capital and financial market, the Securities and Exchange Commission recently inaugurate the Private Equity Committee in Abuja. Source SEC Nigeria Read More

Afrinvest Stock Recommendation For The Week 300919 - The Afrinvest Weekly Sentiment Indicator weakened to 3.0 points from 3.6 points recorded in the previous week. This week, the bearish sentiment in the market is expected to continue as there are no major catalysts to boost investor confidence, although we see opportunities for bargain hunting. Source Afrinvest Research Read More

The Bulls Re-Emerge As Average Yield On T-Bills Dips To 13.3% WoW On System Liquidity Boost - The T-Bills secondary market reversed its two-week bearish run on the back of improved system liquidity (N260.0bn long as at Tuesday) stemming from a FAAC disbursement (N341.0bn) which hit the financial system the previous Friday. Source Afrinvest Read More

UACN-PROP Submits An Application To The NSE For The Approval And Listing Of A Rights Issue - UACN Property Development Company Plc ("UPDC") has through its Stockbroker, Stanbic IBTC Stockbrokers Limited, submitted an application to The Nigerian Stock Exchange for the approval and listing of a Rights Issue. Source NSE Read More

Treasury Bills Auction Scheduled For October 2nd, 2019 - A primary auction of Nigerian Treasury Bills will take place on Wednesday, October 2nd, 2019. Source Arthur Steven Asset Mgt Read More 


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Doing Business 2020 Rankings: Nigeria Named One of The Top 20 Improvers - The World Bank Doing Business (DB) team has just announced Nigeria as one of the top-20 improvers in doing business out of 190 countries. This announcement comes ahead of the 24th October release of the 2020 World Bank Doing Business rankings. Source PEBEC Read More

One Page Summary of Each IFRS Published - A compiled one page summary of each IFRS, 2017 and 2019 version, has been published. As stated by the author, the objective of the publication is to help students and professionals get an overview of what the IFRS entails. Source Usidamen Israel Read More 

CBN Sets $10.7b Growth Target For Creative Industry - After announcing the injection of N22 billion seed capital into the creative industry, the Central Bank of Nigeria (CBN) on Monday gave the movie production and distribution a $10.7 billion growth target in the next five years. Source TheNation Read More

Cashless Policy Implementation May Hurt MSMEs, Says MAN - The Manufacturers Association of Nigeria has said the implementation of the cashless policy may have negative impact on the Micro, Small and Medium Enterprises. The association gave the position in a statement released in Lagos on Monday by its Director-General, Segun Ajayi-Kadir. Source Punch Read More

Exporters Shun N13bn Facility At NEXIM Bank -  Nigeria Export-Import Bank (NEXIM), has revealed that over N13 billion of Federal Government's credit intervention for export and Small and Medium Enterprises (SMEs) have not been accessed. Source Guardian Read More

IPMAN Warns Of Impending Fuel Scarcity - The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Monday raised the alarm over imminent scarcity of petroleum products in the country. It warned that the fresh round of  scarcity could only be averted if private depot owners settle the backlog of Petroleum Equalisation Funds (PEF) to the independent marketers. Source TheNation Read More

Major U.S. Investors Have Billions At Risk In Chinese Stocks - Major U.S. fund managers have tens of billion of dollars at stake in some of the most popular Chinese stocks on Wall Street, exposing them to potential losses should the White House move to delist Chinese firms from U.S. exchanges. Source Reuters Read More


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Osinbajo Calls on Banks In Nigeria To Support FG Efforts At Resuscitating MSMEs - Vice President Professor Yemi Osinbajo called on Deposit Money Banks in the country to support the efforts of the Federal Government in resuscitating Micro Small Medium Enterprises, MSMEs in Nigeria and also the real sector. Source Proshare  Read More


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