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Nigeria in 1min: Economic, Business and Financial Headlines - 080421

All One Min News	1180 VIEWS
All One Min News
1180 VIEWS

Thursday, April 8, 2021 / 5:53AM / By News Aggregator / Header Image Credit: Ecographics

COVID-19 Health Updates

7th of April 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
Confirmed: 163,440 cases (New: 110)
Discharged: 153,788
Deaths: : 2058 (New: 0)

Source: NCDC Read More

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PROSHARE ECONOMY

WEO: IMF Revises 2021 Global Economic Growth to 6% from 5.5% - After an estimated contraction of -3.3 percent in 2020, the global economy is projected to grow at 6 percent in 2021, moderating to 4.4 percent in 2022. The contraction for 2020 is 1.1 percentage points smaller than projected in the October 2020 World Economic Outlook (WEO). Source IMF Read More

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PROSHARE MARKETS

The March 2021 Nigerian Capital Market Service Report - Proshare - Nigerian Stock Market closed the month of March 2021 in the red zone as market maintained negative posture due to sell pressure which sets in to during the previous month of February 2021. The NSEASI dipped by -1.90% as against -6.16% loss recorded in the month of February 2021. Source Research@proshareng.com Read More

Investors Gain N3.88bn as NSEASI Inches Up Marginally by 0.02% Amid Negative Market Breadth - Equities market closed today on a positive note, as NSEASI appreciated by +0.02% to close at 38,774.03 basis points as against -0.39% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -3.72%. Source Proshare Markets Read More

Nigerian Exchange (NGX) Limited Offers Free Training to Derivatives Traders - In preparation for the launch of the Exchange Traded Derivatives (ETDs) Market, Nigerian Exchange (NGX) Limited continues to embark on capacity-building exercises for capital market stakeholders. Source NGX Read More

FMDQ takes a Major Step in Commencing its Derivatives Market - FMDQ Securities Exchange Limited has announced that the implementation of its derivatives market development project on its platform is nearing completion. The exchange disclosed this to capital market correspondents during its Academy Derivatives Market Webinar series themed; Understanding Exchange-Traded Derivatives Market which was held in Lagos recently. Source FMDQ Read More

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A Changing of the Guard at FSDH Merchant Bank - After 28 years of service to FSDH, including 4 years and 3 months as the Managing Director of FSDH Merchant Bank, Mrs. Hamda Ambah will retire from the Bank with effect from 27th April 2021. She joined FSDH very early in its discount house days and is now retiring a little over eight years after the company became a merchant bank in 2013. Source FSDH Merchant Bank Read More

CBN Freezes 11 Bank Accounts - The Central Bank of Nigeria on Wednesday said it got an order from the Federal High Court, Abuja division, to freeze 11 bank accounts to enable it conduct investigations into suspicious activities. It disclosed this in two documents posted on its website on Wednesday. Source Punch Read More

Nigeria Generated $150m from Coconut Oil in 2020 - Minister - The Minister of Agriculture and Rural Development, Sabo Nanono, on Wednesday in Benin disclosed that Nigeria generated $150m from the export of coconut oil and its derivatives in 2020. Source Punch Read More

'Nigeria Can Export $3bn worth of Cocoa Derivatives Under AfCFTA' - The federal government has disclosed that by taking advantage of the African Continental Free Trade Area (AfCFTA), Nigeria has the capacity to export $3 billion worth of derivatives from cocoa and $300 million from the sale of the raw unprocessed commodity. Source THISDAYLIVE Read More

FG revokes 4 Addax Petroleum's Operating Mining Leases - The Federal government has revoked four Oil Mining Leases, OMLs belonging to Addax Petroleum Nigeria Limited citing inability to comply with work programme targets. Source Vanguard Read More

U.S. Trade Deficit Hits Record High as Economy Gains Speed - The U.S. trade deficit surged to a record high in February as the nation's economic activity rebounded more quickly than that of its global rivals and could remain elevated this year, with massive fiscal stimulus expected to spur the fastest growth in nearly four decades. Source Reuters Read More

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PROSHARE TECHNOLOGY

Twitter Held Talks for $4 Billion Takeover of Clubhouse: Bloomberg News - Twitter Inc held discussions in recent months to buy audio app Clubhouse at a $4 billion valuation, Bloomberg News reported on Wednesday, citing people familiar with the matter. Discussions are no longer ongoing, and it was unclear why they stalled, according to the report. Source Reuters Read More