Nigeria in 1min: Economic, Business and Financial Headlines - 031220


Thursday, December 3, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @dabiodunMFR

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COVID-19 Health Updates

  • 2nd of December 2020: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 67,960 cases (New: 122)
  • Discharged:  63,839
  • Deaths: : 1,177 (New: 1)

Source: NCDC Read More

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Buhari Writes National Assembly, Seeks Approval for Finance Bill - The President, Major General Muhammadu Buhari (retd.), has transmitted Finance Bill 2020 to the National Assembly for consideration and passage along with the 2021 Appropriation Bill presently before the parliament. Source Punch Read More 


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SEC Urges Collaboration on Commodities Trading Ecosystem - The Securities and Exchange Commission, has urged for collaboration with the Standards Organisation of Nigeria by advocating for speedy approval and publication of standards relevant to the commodities trading ecosystem. Source SEC Nigeria Read More

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Investors Lose N41.97bn as NSEASI Dips by -0.26%, Halts Uptrend - Equities market closed today on a negative note, as NSEASI depreciated by -0.26% to close at 35,056.82 basis points as against +0.30% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +30.60%. Source Proshare Markets Read More

CBN Re-Amends Circular on Procedures for Receipt of Diaspora Remittances - Further to the Circular Ref. No. TED/FEM/FPC/GEN/01/011 of November 30, 2020, on the above subject, we wish to reiterate and clarify to All International Money Transfer Operators (IMTO) the following… Source CBN Read More

CBN To Securitize Excess Cash Reserve Requirement Balances for Local Banks As Special Bills - The weakness of yields in the FGN Bonds market slowed down in today's session, as we noted improved bids on securities at the short-end of the benchmark bond curve. In a relatively inactive session, dealers continued to reprice their expectations for a possible negative shift in the yield curve. Source Zedcrest Capital Read More

Supply Shortages from India to Keep Sugar Prices Up - OPEC+ deferred their meeting till December 3 as the three price leaders (Russia, Saudi Arabia, and UAE) are at logger heads on whether to delay or reinstate output cuts. Irrespective of what happens, Brent could hover around $44-$45pb, which is still positive for Nigeria's export earnings. Source FDC Research Read More


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Zenith Bank Emerges Best Bank in Nigeria in the Banker's Bank of the Year Awards 2020 - Zenith Bank Plc has emerged as Bank of the Year in Nigeria in The Banker's Bank of the Year Awards 2020. This is coming on the heels of the awards as the Most Valuable Banking Brand in Nigeria and the Number One Bank in Nigeria by Tier-1 Capital by The Banker won earlier in the year. Source Press release by ZenithBank Plc Read More

While OPEC+ Fights, Mexico Wins Over $2 Billion on Oil Hedge - Mexico will cash in its oil price insurance policy this year for the fourth time only in the last two decades, receiving a payout of about $2.5 billion from its 2020 sovereign oil hedge, people familiar with the transaction said. Source Bloomberg Read More

Nigeria's Biggest Bank in Talks to Buy Atlas Mara Assets - Access Bank Plc is in talks about a potential acquisition of assets belonging to Bob Diamond's Atlas Mara Ltd., as Nigeria's biggest lender seeks to expand its reach in the rest of Africa, people familiar with the matter said. Source Yahoo Finance Read More

COVID-19: Criminals Could Target Vaccine Supply Chains or Create Fakes, Interpol Warns - Organised crime gangs could steal COVID-19 vaccines or create their own fake versions to profit from the pandemic, Interpol have warned. Source SkyNews Read More

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Leveraging Non-Interest Finance for Financial Inclusion - The Central Bank of Nigeria Financial Inclusion Secretariat with key experts in the Noninterest Finance Markets, hosted a webinar on closing the Financial Inclusion Gaps workshop series which explores "Leveraging Non-Interest Finance for Financial Inclusion". Source WebTV Read More

Huawei Introduces Key Architecture Index to Drive 5G Acceleration - At the recent AfricaCom event, which was part of the virtual Africa Tech Festival, Huawei held an online IP Gala conference with its industry partners to introduce the Key Architecture Index (KAI) and share its applications. Source THISDAYLIVE Read More

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African Borrowers Turn on Cellphones for Covid-19 Financial Lifelines - The coronavirus pandemic has supercharged growth of mobile money-and credit-on the continent. Source Wall Street Journal Read More


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