Nigeria in 1min: Economic, Business and Financial Headlines - 150920

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Tuesday, September 15, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @cibnigeria

 

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COVID-19 Health Updates

  • 14th of September 2020: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 56,388 cases (New: 132)
  • Discharged:  44,337
  • Deaths: : 1,083 (New:1)

Source: NCDC Read More


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PROSHARE ECONOMY 

Nigeria's Total Public Debt Stood At N31.01trn in Q2 2020 - NBS - Nigerian States and Federal Debt Stock data as at 30th June 2020 reflected that the country's total public debt portfolio stood at N31.01trn. Further disaggregation of Nigeria's total public debt showed that N11.36trn or 36.65% of the debt was external while N19.65trn or 63.35% of the debt was domestic. Source NBS Read More 

 

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PROSHARE MARKETS

Anchoria Fixed Income Monitor: Bullish Sentiment in the Bond Market - The secondary sovereign Bond market closed bullish last week as the average yield fell by 39bps to close at 7.67% compared to 8.06% in the previous week. The highest yield decline was witnessed in the MAR-2024 bond which declined by 185bps to close at 4.02% compared to 5.87% the previous week. Source Anchoria AM Research Read More 

Average Yield Declines 24bps W-o-W to 1.7% on Strong Demand from Investors at PMA - Last week, the Nigerian Treasury Bills ("NT-Bills") secondary market resumed on a bearish note despite buoyant system liquidity (N737.7bn positive as at Monday). As a result, average yields across tenors advanced 6bps on the day to 2.0% (from 1.9% the previous trading session)... Source Afrinvest Research Read More

ACI Maintains Its Price Levels - AFEX Commodities Weekly Report 100920 - The AFEX Commodities Index composite retained its performance this week from the previous week, as it closed at 249.47 points. This is as a result of reduced trades on the Exchange. Source Kainosedge Consulting for AFEX Commodities Exchange Read More

 

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PROSHARE BUSINESS

CBi Nigeria to Partner MACN in Training 300 Officers on Compliance - Soji Apampa - The Convention on Business Integrity (CBi) in partnership with the Maritime Anti-Corruption Network (MACN) has expressed plans to train 300 officers across Ministries, Department and Agencies (MDAs) responsible for ensuring compliance with the Standard Operating Procedures, SOPs at the Nigerian Seaports and Terminals. Source WebTV Read More

N4bn Debt: Court Grants AMCON's Request to Take Over Firm's Asset - Following the order of Justice M.S. Hassan of the Federal High Court, Lagos division, the Asset Management Corporation of Nigeria has taken over assets belonging to Mr. Frank Okwudili Ezuma and Mrs. Lilian Ifeoma Okwudili Ezuma, the chief promoters of Geedee Zulu Investment Limited over an indebtedness of over N4bn. Source Victoria Onu of The Point Read More

CBN Unveils Solar Intervention Fund, Fixes N500m Maximum Limit - The Central Bank of Nigeria has introduced a solar intervention fund that will offer obligors access to credit facility that will not exceed a maximum of N500m maximum, with the aim of providing affordable electricity to rural dwellers. Source Punch Read More

Passengers Stranded as Arik Workers Strike Grounds Airline - Thousands of air passengers were left stranded on Monday as workers under the auspices of the National Union of Air Transport Employees and the Air Transport Services Senior Staff Association of Nigeria, Arik Air branch, grounded the operations of Arik Air nationwide. Source Punch Read More

Deregulation: IPMAN Provost Tells FG to Scrap PPPRA, PEF - The National Provost of the Independent Petroleum Marketers Association of Nigeria, Ezekwesili Maduagwuna, has asked the Federal Government to allow for the total deregulation of the petroleum industry by scrapping the Petroleum Products Pricing Regulatory Agency and the Petroleum Equalisation Fund. Source Punch Read More

FG: Dangote Refinery Will Save Nigerians Petrol Shipping Cost - The federal government has said the upcoming Dangote Refinery would save Nigerian fuel users the cost of shipping petroleum products from the international market into the country. Source THISDAYLIVE Read More

Asian Stocks Head Higher on China Data, Markets Eye Fed Meeting - Asian equities extended gains on Tuesday and the dollar slipped, with investor sentiment supported by Chinese data and optimism about COVID-19 vaccines. Source Reuters Read More


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PROSHARE FINANCE

Financial Inclusion-Changing the Strategy for Growing Risk Protection - The 2018 Annual Report of the National Financial Inclusion Strategy of Nigeria revealed that 36.8% of adult Nigerians, even as it aimed to reduce that percentage to 20% in 2020 were financially excluded and more work with identified solutions were required to reach the new target. Source Ekerete Ola Gam-Ikon Read More

'Active Bank Accounts Linked to BVN Now 43.3m' - Active bank accounts linked to Bank Verification Number (BVN) as at September 6 stood at 43.32 million, a report by the Nigeria Interbank Settlement System (NBISS) has shown. Source The Nation Read More


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PROSHARE MSME

AfDB Harps on Support for SMEs - A panel of some of Africa's most promising small and medium-enterprise (SME) agri-preneurs gathered online to call for more selective investment, accelerated business acquisitions and increased cooperation to help Africa feed itself and the world. Source THISDAYLIVE Read More

 

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