Nigeria in 1min: Economic, Business and Financial Headlines - 301121

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Tuesday, November 30, 2021 / 5:56 AM / By News Aggregator / Header Image Credit: Nigerian-British Chamber of Commerce

 

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COVID-19 Health Updates

  • 29th of November 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 214,113 cases (New: 21)
  • Discharged: 207,292
  • Deaths: 2,976 (New: 1)

Source: NCDC Read More

 

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PROSHARE ECONOMY

CBN to Sustain Interventions in the Nigerian Economy in 2022 - Godwin Emefiele - As Nigeria's economy returns to the pre-covid 19 growth level, the Central Bank of Nigeria will sustain its intervention policy in critical sectors in 2022. The Governor of the CBN, Mr. Godwin Emefiele, disclosed this at the 56th Annual Bankers Dinner powered by the Chartered Institute of Bankers, Nigeria, which took a hybrid format at the Federal Palace Hotel Lagos. Source Ottoabasi Abasiekong for WebTV Read More

Dip in Crude Oil Price; Perpetuating the Concerns of a Frail Economy - The Brent futures traded at US$72.81 per barrel on 26 November 2021. According to Reuters, the dip in price of BRENT was driven by concerns around a surplus in Q1 2022 following the uptick in the number of countries that are instituting lockdown measures on the back of the new COVID-19 omicron variant. Source CSL Research Read More

Olam, Experts Chart Growth Path for Local Wheat Value Chain - Olam, a leading agribusiness conglomerate and parent company of Crown Flour Mill Limited (CFM), has assembled local and international development actors in the wheat value chain in a bid to stimulate higher wheat production in Nigeria. Source Olam Read More

CBN Automates Forms A and NCX on the Trade Monitoring System - This Is to inform all Authorized Dealers and the General Public of the deployment of e-Form 'A', Accordingly, the e-Form 'A' shall replace the hard copy of Form 'A' for invincible transactions (PTA/BTA, medicals, education, other remittances etc., with effect from November 30, 2021. Source CBN Read More

FirstBank Holds Non- Oil Export Webinar Series, Creates Awareness on the Bank's Export Solutions - The Event is centered on deliberating opportunities that will enhance the country's expansion of its drive towards diversifying the national economy, thereby reducing the reliance of oil as a mainstay of the country's revenue. Source FirstBank Read More

FG's Capital Market Debt Servicing Gulps N2.18tn in 10 months - Reports - Servicing of debts acquired through instruments issued by the Federal Government in the Nigeria capital market totaled N2.18tn as of October 30, an analysis of data by our correspondent has shown. Source Punch Read More


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PROSHARE MARKETS

Investors Lose N19.49bn as NGXASI Dips by -0.09% to Open The Week Negative - Equities market closed on a negative note, as NGXASI depreciated by -0.09% to close at 43,270.94 basis points as against +0.46% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +7.45%. Source Proshare Markets Read More

NAFEX Rate Depreciated by -0.03% WoW to N413.59 - In the FX Spot and Derivatives markets, the total turnover for the week-ended November 19, 2021, was $1,094.65 million, representing an increase of 60.23% ($411.48 million) from $683.17 million reported for the week-ended November 19, 2021. Source FMDQ Read More

Bullish Sentiment Sustained as Average Yield Shed 25bps WoW to Close at 4.85% - Last week, the Nigerian Treasury Bills ("NT-Bills") secondary market started off on a quiet note as market participants prepared for the Primary Market Auction ("PMA") which was held on Wednesday (24-Nov-21). Source Afrinvest Research Read More

Best Zero Spread Forex Brokers 2022 - Trading is one of the extensive and exciting businesses accompanying a vast profit margin and tremendous successful opportunities. Even the beginners could make great money from the start if they know the most important things and factors that can affect their trading to what extent! Sponsored post by Merit Media Services Read More

 

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PROSHARE BUSINESS

Dangote Refinery to Become Highest Employer of Chemical Engineers in Nigeria - The National President of Nigeria Society of Chemical Engineers (NSCh) has revealed that Dangote Oil Refining Company will be the highest employer of chemical engineers in the country when the refinery comes on stream. Source Dangote Read More

NERC Renews NBET's Licence for Additional Three Years - The Nigerian Electricity Regulatory Commission (NERC) has renewed for three years the trading licence of the Nigerian Bulk Electricity Trading (NBET) Plc following a review of the latter's application and corporate business plan. Source THISDAYLIVE Read More


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PROSHARE TECHNOLOGY   

MTN, Airtel, One Other Ready for 3.5GHz Spectrum Auction in December - Three telecoms operators, MTN, Airtel, and another company whose identity was not disclosed but simply described as a strategic company by those in the know, have indicated their interest to bid for the 3.5GHz spectrum auction on December 13, in preparation for 5G network rollout by next year. Source THISDAYLIVE Read More

Nigeria to Benefit from $4.7tr Digital Service Export Market - The National Information and Technology Development Agency (NITDA) and Nigerian Export Promotion Council (NEPC) have forged an alliance that could enable Nigeria to benefit from the yearly $4.7 trillion exportation of digital services. Source Guardian Nigeria Read More

Twitter CEO, Jack Dorsey, Quits To Allow Growth - Chief executive officer of microblogging platform Twitter, Jack Dorsey, has resigned. He announced his resignation in a statement yesterday. The development came after 16 years of co-founding the microblogging platform. Dorsey said, "After almost 16 years of having a role at our company, from co-founder to CEO to chair to executive chair to interim-CEO to CEO". Source LeadershipNG Read More

 

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PROSHARE FINANCE

NCDC Issues Statement on the New COVID-19 Variant - The variant was first identified from testing done on 9th November 2021 in Botswana on travelers from West Africa. It was reported to WHO on identification of cases among a cluster of young unvaccinated people in South Africa on 24 November 2021. Source NCDC Read More

IIFP to Hold 2021 Annual Stakeholders Conference on December 15 and 16, 2021 - The conference will discuss the theme "Weathering the Storms in the Financial Ecosystem: The Cutting Edge of Islamic Finance", a topic selected in response to the Islamic financial industry's various activities that have positive and negative impacts on the overall impact growth and development of the industry. Release by Institute of Islamic Finance Professionals Read More

 

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PROSHARE MSME

FSDH Rallies Support for The Future-Focused Female; Launches Fund for Women-led Businesses - In commemorating the Women's Entrepreneurship Day on 19th November, FSDH hosted the inaugural edition of her Women in Business Initiative. Themed 'The Future-Focused Female', the event was set up to create a platform that enables, encourages, and empowers women to thrive in their chosen endeavor. Source FSDH Read More 

Flutterwave Launches Market, a New E-commerce Service to Scale SME Growth - Flutterwave, Africa's leading payments technology company, is pleased to announce the launch of its new e-commerce service, Flutterwave Market - an extension of its Flutterwave Store service - that will bring together a collection of merchant stores in one place. Source Flutterwave Read More

How Ecommerce Using Social Media Platforms is Creating a Market for Online Shoppers and Vendors - A start-up needs investments in order to reach out to its numerous customers especially when the demand for their product or service is high. The major reason for investments in start-ups is the steady growth experienced. Sponsored post by Emmanuel Otori Read More

Government, Industry Captains Commend Kickstart Initiative for Empowering Young Nigerian - Government dignitaries, heads of agencies, and captains of industries were in attendance at the sixth edition of the youth enterprise empowerment scheme, Kickstart Initiative Awards Ceremony which held in Lagos recently. Source International Breweries Plc Read More


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