Nigeria in 1min: Economic, Business and Financial Headlines – 250219


Monday February 25, 2019 / 7:00 AM / Proshare News



Click Here To Read Latest Updates



Wheat Prices Down Due To Lower Global Demand - The sustained rally of Brent ($67.20pb) is coming at a good time for Nigeria. External reserves are below $42.7bn and the naira is holding steady at the parallel market at N360/$. Source FDC Read More

Growth Alone Won’t Help The Poor In Nigeria - Nigeria shows that economic growth combined with rising inequality won’t lift people out of poverty. The country’s next government should heed the lesson. Source ForeignPolicy Read More

USSD Transactions Grew By 35%, Hits N261m - The use of interbank instant payments on USSD platforms by bank customers received a significant boost in 2018, growing by 35 per cent in one year. Source Punch Read More

Nigeria Remains Africa’s Largest Economy – PWC - Nigeria has been named Africa’s largest economy for the second year in a row by multinational professional services network PricewaterhouseCoopers (PwC). Source Leadership Read More


Click Here to Read More News on Economy 


Proshare Nigeria Pvt. Ltd.



Live Updates: 2019 Election. Source Punch Read More

Elections Live Blog. Source Guardian Read More

Liveblog: Nigeria Decides 2019. Source Dailytrust Read More

Live Updates: 2019 Election. Source TheNation Read More 

Nigeriadecides2019: Official Results From Wards, Local Govts (LIVE UPDATES) - Millions of Nigerians went to the polls on Saturday to elect a president that will lead the country for the next four years. The voters are also electing federal lawmakers who will represent them at the National Assembly for the next four years. Source Premium Times Read More

INEC Shifts Collation as PDP, APC Disagree over Winner - The Independent Electoral Commission (INEC) yesterday adjourned the collation of the results of last Saturday’s elections until 11:00 a.m. today. Source Guardian Read More

Live Updates: Senate & House of Reps Results as Announced by State INEC Offices - Senator Dino Melaye representing Kogi West senatorial district at the National Assembly is leading Senator Smart Adeyemi according to the result from INEC office in Lokoja. Out of seven local government councils, Melaye won six local government councils. Source Thisday Read More

2019 Presidential Elections: INEC To Commence Announcement of Results on Monday February 25 - 48 hours after Nigeria’s 2019 Presidential elections was conducted nationwide, the Independent National Electoral Commission will today from 11am commence the announcement of results from the 36 States of the federation. Source Proshare Read More

Proshare Nigeria Pvt. Ltd.


Currency Dealers Raise the Alarm over Alleged Fake $100 Bills From India - The Association of Bureaux De Change Operators of Nigeria (ABCON), at the weekend, took up a campaign to alert the public on the security investigations over fake $100 bills, allegedly imported from India into the country. Source Guardian Read More

Rule On Share Transmission To Reduce N100bn Unclaimed Dividend - Domestic retail investors have commended the decision of the Securities and Exchange Commission, SEC, to initiate rules that will facilitate transmission of investments of a deceased shareholder to the next-of-kin, saying that it will further reduce the incidence of unclaimed dividends currently put at over N100 billion in the market. Source Vanguard Read More


Click Here to Read More News on Regulators 


Proshare Nigeria Pvt. Ltd.



What To Expect From The Markets This Week – 250219 - Following a mixed session today, the NSE ASI lost 16bps, taking WTD returns to a 61bps loss. On a sector by sector basis, the Oil & Gas (+89bps d/d, +13bps w/w) and Banking (+48bps d/d, +68bps w/w) sectors ended the week higher, driven by advances in MOBIL (+471bps d/d), TOTAL (+263bps d/d), ZENITHBANK (+178bps d/d) and GUARANTY (+53bps d/d). Source Proshare Read More 

Market Players Oversubscribe 1-year CBN OMO bill by 181% - Despite the significant sale on the 10-yr bond at the previous day’s auction, market players remained well bid on the 2028s which compressed by c.10bps from its clearing rate of 14.93% at the auction. Source Zedcrest Capital Read More 

Nigerian Breweries Q4 2018 Results Review: Sustained Competition Still a Drag - Nigerian Breweries’ (NB) Q4 2018 earnings missed our forecasts because of negative surprises in gross margin and net interest expense. Source FBNQuest Resesrch Read More 

FMDQ Admits Mixta Real Estate (Nigeria) PLC Bonds and Commercial Papers - Housing & Infrastructure development in the nation is taking progressive steps in the right direction, as another corporate, Mixta Real Estate (Nigeria) PLC (Mixta PLC), taps the debt capital markets (DCM) for funding targeted at this development. Source FMDQ OTC Read More 

NSE Partners With Market Stakeholders, Launches Mutual Funds Trading Platform - The Nigerian Stock Exchange (“the Exchange” or “NSE”) in conjunction with Fund Managers Association of Nigeria (FMAN); Association of Stockbroking Houses of Nigeria (ASHON) and The Central Securities Clearing System (CSCS) Plc has launched the NSE Mutual Fund Trading and Distribution Platform on February 22, 2019 at the NSE in Lagos. Source NSE Read More 

Corporate Earnings for The Week – ZENITHBANK Declares N193bn PAT in 2018 Audited Results - During the week ending February 220219, six (6) quoted firms declared their results.  Three (3) firms declared growth in revenue. TRANSCORP records 30% growth in earnings to emerge as the firm with highest growth in earnings while ENAMELWA records 59% drop in earnings. Source Proshare Read More 

Investors Lose N74.47bn WoW as NSEASI Dips By -0.61% - Equities market closed today on a negative note, as NSEASI depreciated by -0.16% to close at 32,515.52basis points as against -0.14% depreciation recorded previously. Source Proshare Read More 

Market Review and Round-Up of Corporate News Announced During The Week Ending 220219 - The equities market recorded mixed performance – the listed equities market recorded -0.61% loss WoW while the NASD OTC went up by +2.75% WoW. Source Proshare Read More 

NASD OTC Market CAP Moved up By 2.75% WoW - As at close of trade week on 22 February 2019, market Capitalisation increase to 527.25 billion from last week's previous 513.15 billion, which shows a 2.75 % increase in Capitalisation. Source NASD Plc Read More

Forex Intervention: CBN Injects 268.4m, CNY 46.3m Into Retail SMIS - The Central Bank of Nigeria (CBN) on Friday, February 22, 2019, made an intervention of $268.4million in the retail Secondary Market Intervention Sales (SMIS) and CNY 46.3million in the spot and short tenored forwards segment of the inter-bank foreign market. Source CBN Read More 

Investors Remain Bullish on FGN Bonds Ahead of Elections - The Bond market traded on a bullish note, as market players continued to pick on offers, mostly on the 2028 bond, which has now rallied by c.28bps from its auction clearing levels to 14.65% at the close of today’s session.  Source Zedcrest Capital Read More 

More Foreign Investors Eye Nigeria’s Retail Market –Report - Despite the challenging operating environment, interest from foreign brands in the country’s retail market remains strong, a report by real estate services firm, Broll Nigeria says. Source Punch Read More 

Click Here to Read More News on Markets


Proshare Nigeria Pvt. Ltd.



China Shares Surge as Trump Offers Tariff Respite A surge in Shanghai shares led Asia higher on Monday after U.S. President Donald Trump confirmed he would delay a planned hike in tariffs on Chinese imports as talks between the two sides made “substantial progress”. Source Reuters Read More

36.8 Million Bank Accounts Linked To BVN About 36.8 million bank accounts have been linked to the Bank Verification Number as of February 17 this year.This represents 51 per cent of the total number of active bank accounts, the Nigerian Interbank Settlement Scheme’s records have shown. Source Punch Read More

NAICOM to Focus On Capital Requirement, Risk Based Supervision, Others in 2019 - The National Insurance Commission (NAICOM) has listed capital requirement for insurance practice, establishment and implementation of effective risk     management and full implementation of risk based capital and supervision as areas of focus for the commission  this year. Source The Nation Read More

Over Eight Million Workers Have Pension Accounts — PenCom - Employers have opened pension accounts for 8,381,768 workers under the Contributory Pension Scheme as of the end of November 2018.According to figures obtained from the National Pension Commission on Friday, this figure rose from 7.3 million at the end of 2016. Source Punch Read More

AfDB Begins Electricity Cooperative Feasibility Studies in Nigeria, Ethiopia -The African Development Bank (AfDB) has kicked off a feasibility study to explore the potential of electricity cooperative business models in Nigeria and Ethiopia. Source Thisday Read More

GOXI Microinsurance Gets Operating Licence- The National Insurance Commission (NAICOM) has granted GOXI Microinsurance Company Limited an operating license under the State Composite Micro-insurer category, in effortsto deepen insurance penetration and acceptance in the country. Source Guardian Read More

Click Here To Read More News on Business


Proshare Nigeria Pvt. Ltd.



Artificial Intelligence in the Military – An Overview of Capabilities - We researched the military and defense space to discover how and where AI is utilized today by the world’s militaries and intelligence organizations as well as the capabilities artificial intelligence could bring to the sector shortly. Source Marcus Roth of Emerj Read More 

Not Quite “Open” Source - Open source licensing has always been a hotbed of debate. Oracle, for example, is still suing Google for copyright infringement over the use of Java APIs. Source Angel List Read More


Click Here to Read More News on Technology


Proshare Nigeria Pvt. Ltd.


Sluggish Economic Growth: MPC Members Call for Increased Targeted Lending to MSMEs - Some members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has called for increased targeted lending to Micro, Small and Medium Enterprises (MSMEs) to address the nation’s sluggish economic growth. Source Vanguard Read More


Click Here to Read More News on MSME 





Proshare Nigeria Pvt. Ltd.


Click Here To Watch More Videos

Related News