Nigeria in 1min: Economic, Business and Financial Headlines - 021219

Proshare

Monday, December 2, 2019 / 06:45 AM / By News Aggregator / Header Image Credit: @DangoteGroup


 

Click Here To Read Latest News Updates

 

PROSHARE ECONOMY

Economic Associate's Conference on Nigeria's Economic Outlook, To Hold On Dec 12, 2019 - EA's conferences provide the forum for top economic decision-makers to gain clarity on the main global and national economic trends, latest outcomes and immediate outlook. Source Economic Associates Read More 

Emefiele Lists Priorities for 2020 - The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has listed the Bank's priorities for 2020 to include support for greater economic growth, price stability and low inflation, even as he hinted on the continued tight monetary policy stance of the Bank and the establishment of a Bankers' Charitable Endowment Fund. Source Innocent Ogbe Read More 

World Bank Releases Nigeria Digital Economy Diagnostic Report - With a population of approximately 197 million, Nigeria accounts for about 47% of West Africa's population and has one of the largest populations of youth in the world. Nigeria also has Africa's biggest economy, is the biggest oil exporter, and has the largest natural gas reserves on the continent. Source World Bank Read More

Economy In Q3 2019: Ecobank, Standard Chartered Lead In Capital Importation To Nigeria - According to the National Bureau of Statistics (NBS), Ecobank Nigeria and the local unit of Standard Chartered Bank have joined Stanbic IBTC Bank to become foreign investors' favourites for investment deals. Source Ecobank Read More 

The Nigerian Economy: Outlook And Opportunities For Private Investors - Nigeria set great economic aspirations in the Economic Recovery and Growth Plan (ERGP 2017-2020) which has three broad pillars. Source Dr. Jumoke Oduwole Read More 

Regional Economic Outlook: Sub-Saharan African Navigating Uncertainty - Growth in sub-Saharan Africa is projected to remain at 3.2 percent in 2019 and rise to 3.6 percent in 2020. Growth is forecast to be slower than previously envisaged for about two-thirds of the countries in the region. Source IMF Read More 

$60b Forex Cash Kept Naira Stable For 29 Months, Says Emefiele - The $60 billion inflow from the Investors' and Exporters' Foreign Exchange (I&E Forex) Window has been identified by Central Bank of Nigeria (CBN) Governor Godwin Emefiele as one of the policies that sustained the stability of the naira. Source TheNation  Read More 

CBN Loan: How Banks Created N1.16trn Credit In 6 Months - In July 2019, the banking regulator, the Central Bank of Nigeria (CBN) set at least 60 percent minimum loan-to-deposit ratio (LDR) to encourage lending to small businesses and consumers and more mortgages. Daily Trust in this analysis examines the success of the policy in boosting lending while maintaining a sound financial system.Source Dailytrust Read More 

 

Click Here to Read More News on Economy


Proshare Nigeria Pvt. Ltd.

 

PROSHARE MARKETS 

What To Expect From The Markets This Week- 021219 - In line with our expectation, the Monetary Policy Committee (MPC) elected to keep all monetary policy parameters at current levels. Source Proshare Read More

The November 2019 Nigerian Capital Market Service Report - Proshare - Equities Market closed the month of November 2019 in green as market witnessed renewed bargain hunting during the month under review. The NSEASI inches up by +2.45% as against -4.62% loss recorded in the month of October 2019 while the NASD USI closed southwards with -0.92% loss recorded at the end of the month under review as against -0.05% loss in October 2019. Source Proshare Read More 

UAC of Nigeria Q3 2019 Results Review: Earnings Boosted By Business Repositioning - UACN's Q3 2019 PBT beat our forecast by 87%, thanks to robust non-operating gains from other ancillary segments, and management's restructuring exercise which we had not yet modelled. Source FBNQuest Research Read More 

CILEASING Obtains SEC Approval to Open Subscription with Regards to Its Rights Issue - C&I Leasing Plc announces the approval obtained from the Securities Exchange Commission to open subscription on the Rights Source NSE Read More 

NSE Suspends Trading of The Shares of Continental Reinsurance Plc Effective November 28, 2019 - We refer to our Market Bulletin of 18 July 2019, with Reference Number: NSE/RD/LRD/MB39/19/07/17, notifying Dealing Members of lifting of the suspension initially placed on trading in shares of  Continental Reinsurance Plc (CRe or the Company) to allow the Company reconvene another Court Ordered Meeting to consider the Scheme of Arrangement as directed by the Securities and Exchange Commission (SEC). Source NSE Read More 

Investors Gain N5.18bn WoW As NSEASI Inches Up By 0.04% To Close The Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by +0.66% to close at 27,002.15 points as against +0.13% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -14.09%. Source Proshare Markets Read More 

FCMB Declares N10.79bn PAT In Q3 2019 Results, (SP:N2.01k) - FCMB Group Plc released its Q3 unaudited 2019 results for the period ended September 30th. Gross Earnings grew by 2.2% to N135.8bn from N132.9bn in the previous quarter. Source NSE Read More 

SEPLAT Disproves Allegations in Newspaper Publication Against Its Newly Appointed CEO - The Company's attention has been directed to the recent publication by the Guardian newspaper of 28th November 2019 (the Publication) alleging that the appointment of Mr. Roger Brown negates the provisions of the Nigerian Oil and Gas Industry Content Development Act, 2010 (the Nigerian Content Development Act). Source NSE Read More 

Market Review and Round-Up of Corporate News Announced During The Week Ending 291119 - The equities market recorded mixed performance - the listed equities market recorded +0.04% gain WoW while the NASD OTC recorded by -1.99% loss WoW. Source Proshare Markets Read More 

NASD OTC Market CAP Decreased By -1.99% WoW To Close At N497.75bn - As at close of trade week on 29 November 2019, market Capitalisation decreased to N497.75 billion from last week's previous N507.85 billion, which shows a 1.99% decrease in Capitalisation. Source NASD Read More 

Forex Intervention: CBN Injects $323.5m, CNY17.9m into Retail SMIS - In its last intervention for the month of November, the Central Bank of Nigeria (CBN) on Friday, November 29, 2019, made an intervention of $323.5million in the retail Secondary Market Intervention Sales (SMIS) and CNY 17.9million in the spot and short tenored forwards segment of the inter-bank foreign market. Source CBN Read More 

NSE CEO Opening Remarks At The CEO Interactive Session For The Consumer Goods Sector - Nigeria's consumer market is one of the fastest growing markets in Africa. As far back as 2013, the market was valued at about $377 billion and is now expected to reach about $454 billion by 2025. Source NSE Read More 

 

Click Here to Read More News on Markets

 

 Proshare Nigeria Pvt. Ltd.

 

PROSHARE BUSINESS 

Dangote Refinery Takes Delivery Of World Largest Crude Distillation Facility - Dangote Refinery has taken delivery of the world's largest crude distillation equipment designed for crude oil processing, thus raising hope for the completion of the project. The Crude Distillation Column received yesterday, is the largest in terms of distilling capacity which is 650 thousand barrels per stream day. Source Vanguard Read More 

UNIDO's $60m Programme'll Boost Nigeria's Industrialisation, Says FG - The Minister of Industry, Trade and Investment, Niyi Adebayo, said this during a partnership round-table meeting organised by the Ministry of Industry, Trade and Investment, and the Ministry of Finance, Budget and National Planning, in collaboration with UNIDO, in Abuja. Source Punch Read More 

Bureau De Change Operators Commend CBN On Naira Stability - The Association of Bureau De Change Operators of Nigeria (ABCON) on Saturday commended the Central Bank of Nigeria (CBN) on its efforts at ensuring the stability of the naira. Alhaji Aminu Gwadabe, President, ABCON, commended the apex bank in an interview with the News Agency of Nigeria (NAN) in Lagos. Source Vanguard Read More 

Africa To Double Gas Production By 2040 - Nigeria and other African countries are set to increase their presence in the global energy sphere, where they will contribute as much as 9.2 per cent to global natural gas production by 2040. By more than doubling their natural gas production by 2040, Africa's natural gas producers will alter the global energy supply mix in the process. Source TheNation Read More 

U.S.-China Trade Deal 'Stalled Because Of Hong Kong Legislation': Axios - A trade deal between United States and China was now "stalled because of Hong Kong legislation", news website Axios reported on Sunday, citing a source close to U.S. President Donald Trump's negotiating team. Source Reuters Read More

 

Click Here To Read More News on Business

 

Proshare Nigeria Pvt. Ltd.

 

PROSHARE TECHNOLOGY   

THE WORKPLAN: Africa's Biggest Program on the Future of Work and the 4th Industrial Revolution - With an anticipated annual labor market entry of about 11 million youths for the next 10 years, it is crucial for Nigeria and Africa to prepare our future workforce to stand out globally at a time when it's been predicted that automation will power 85 percent of customer service by 2020 and cut business costs by $8 Billion by 2022. Source Rise Networks Read More 

How FirstBank Fintech Summit Is Contributing To Bridge Nigeria's Financial Inclusion - As financial solution providers continue to face stiffer competition globally from Fintech startups and emerging technologies such as blockchain, cryptocurrency and crowdfunding, and the increasing level of disruption in the traditional mode of payment and business models, technology holds the key to unlock the potentials in the financial service sector across Africa through Fintech. Source Bala Augie Read More 

No Solid Technology Ecosystem Without Research-driven Universities; MTN Raises The Bar - MTN NG raised the bar in driving for high quality research in Nigerian universities with its PhD-oriented Academic Research and Development Innovation (ARDIC). Source  Olubayo Adekanmbi Read More

 

Click Here to Read More News on Technology

 

Proshare Nigeria Pvt. Ltd.

 

PROSHARE FINANCE

Unpaid Salaries: 109,284 Workers Retire Without Pensions - No fewer than 109,284 workers retired and quit the Contributory Pension Scheme as of the end of June, as they did not meet the requirements for monthly pensions. Majority of the workers concerned were those who did not have up to N550, 000 in their RSAs as of the time of retirement. Source Punch Read More 

PFAs Invest N6.8tn Pension Assets In Govt Securities - Pension Fund Administrators have invested about N6.84tn in the Federal Government securities, representing 71.43 per cent of N9.58tn total pension assets as of September 30, 2019. The figures are contained in a report, which was obtained by our correspondent on Friday from the National Bureau of Statistics. Source Punch Read More 

LCCI Plans Advocacy For Insurance Industry's Growth - The Lagos Chamber of Commerce and Industry says it is committed to ensuring the growth of the insurance industry under its advocacy roles. The Chairman, Insurance Trade Group, LCCI, Mr Gboyega Olanbiwoninu, said this during the Insurance Industry Consultative Forum organised by the group in Lagos. Source Punch Read More 

 

Click Here to Read More News on Finance 


WATCH LATEST VIDEO ON PROSHARE WEBTV

Proshare Nigeria Pvt. Ltd. Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.



Click Here To Watch More Videos 


Related News

1. What To Expect From The Markets This Week- 021219

READ MORE:
Related News
SCROLL TO TOP