Nigeria in 1min: Economic, Business and Financial Headlines – 121218

Wednesday December 12, 2018 / 7:00 AM / Proshare News 

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PROSHARE ECONOMY

Total Value of Capital Imported into Nigeria Stood At $2,855.21m in Q3 2018 - The total value of capital importation into Nigeria stood at $2,855.21 million in the third quarter of 2018. Source Proshare Read More 

Nigeria's Credit Profile Constrained By Exposure To Shocks Due To Low and Undiversified Revenue - Nigeria's credit profile (B2 stable) is constrained by the sovereign balance sheet's continued exposure to shocks because the government has been unable to expand its non-oil revenue base sufficiently, Moody's Investors Service said in a report today. Source Proshare Read More 

Okro Output in Nigeria Estimated At 1.98mn Tonnes - Okro output in Nigeria is estimated at 1.98mn tonnes, 22.25% of global output. However, production of the commodity can increase to at least 5mn tonnes annually. Source Proshare Read More

PPPRA Rules Out Hike In Petrol Price, Begs Marketers - The Petroleum Products Pricing Regulatory Agency (PPPRA) has ruled out plans to increase the pump price of Premium Motor Spirit (PMS) also known as petrol. Source Guardian Read More 

DISCOs Require Urgent Recapitalisation — TCN - The management of the Transmission Company of Nigeria, TCN, has stressed the need for urgent recapitalisation of the Electricity Distribution Companies, DISCOs, in order to increase power supply across the Nigeria. Source Vanguard Read More 

Huawei Case Will Split Nations Between U.S. and China - The Huawei Technologies Co. case now in the Canadian courts, while now a legal matter, illustrates one of the biggest fears of many countries, especially in the Asia-Pacific region: facing a binary choice as a result of the increasing tensions between China and the U.S. Source Bloomberg Read More

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PROSHARE REGULATORS 

Stock Exchange Strengthens Investors’ Protection Fund - The Nigerian Stock Exchange (NSE) has strengthened the governance of its Investors’ Protection Fund (IPF) with a new framework that outlines a broad-based board and competencies. Source TheNation Read More 

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PROSHARE MARKETS

Nigeria's Central Bank adds Fertilizer To Its List of Imports Items Classified as Not Valid For FX - In the continued effort to sustain the achievement recorded from the classification of 41 Import Items as ‘Not Valid For Foreign Exchange’ in the Nigerian Foreign Exchange Market, Authorised Dealers and the general public are hereby notified of the inclusion of ‘Fertilizer’ on the list effective December 07, 2018. Source Proshare Read More

Money Market Rates hit Five Month High as CBN Maintains OMO Interventions - The FGN bond market resumed the week on a relatively quiet note, but with slight increase in traded volumes observed on the mid to long end of the curve.Source Proshare Read More

 Capital Hotel Plc Notifies on Its Case with Alhaji Musa Abdullahi - Capital Hotels Plc wishes to inform its shareholders and other stakeholders as follows: Alhaji Musa Abdullahi checked into Sheraton Abuja Hotel in January, 2002. He was paying his bills until 2012 when he began to default. Source Proshare Read More

AXA Mansard Insurance Plc Announces Board Changes - AXA Mansard Insurance Plc (the Company) wishes to notify The Exchange, esteemed shareholders, stakeholders and the general public of the resignation of Mr. Frederic Flejou, a Non-Executive from the Board of the Company with effect from November 30, 2018. Source Proshare Read More

Investors Gain N43.82bn as NSEASI Inches up By 0.34% amid Positive Breadth - Equities market closed today on a positive note, as NSEASI appreciated by +0.34% to close at 30,718.72 basis points as against -0.82% depreciation recorded previously. Source Proshare Read More

System Liquidity Falls to Negative Territory amid Continued OMO Auctions - Yields in the bond market trended higher by c.5bps in today’s session, with slight sell off mostly on the 2022 and 2024 bonds.Source Proshare Read More

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PROSHARE TECHNOLOGY

36.8% of Adult Nigerians Are Financially Excluded - EFINA 2018 Survey - The 2018 EFINA Access to Financial Services survey findings, released today in Lagos revealed that 36.8% of the adult population in the country, are financially excluded. Source Proshare Read More

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