Nigeria in 1min: Economic, Business and Financial Headlines - 151220


Tuesday, December 15, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @NigeriaGov

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COVID-19 Health Updates

  • 14th of December 2020: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 73,374 cases (New: 201)
  • Discharged:  66,314
  • Deaths: : 1,197 (New: 0)

Source: NCDC Read More

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The Nigerian Manufacturing Sector: MAN Warns of Impending Shop Closure - The Manufacturers Association of Nigeria (MAN) has warned that many of its members could close shop by January 2021, unless the Federal Government takes urgent steps to address challenges in the sector. Source CSL Research Read More

Moody's - Nigeria's Deficit and Debt to Stay High After Coronavirus and Oil Shocks - Nigeria's (B2 negative) credit profile reflects the country's increasing exposure to fiscal and external shocks because of its very weak government finances, which are constrained by an extremely narrow revenue base that hinders fiscal consolidation, Moody's Investors Service said in an annual report today. Source Moody's Investors Service Read More

Capital Importation into Nigeria Stood At $1,461.49m in Q3 2020 - NBS - The total value of capital importation into Nigeria stood at $1,461.49m in the third quarter of 2020. This represents a increase of 12.86% compared to Q2 2020 and -74.03% decrease compared to the third quarter of 2019. Source NBS Read More

FG Inaugurates Fuel Pricing Committee, New Price Regime Begins - The Federal Government has inaugurated the 'Bipartite Plus Committee' on technical framework on the pricing of Premium Motor Spirit popularly known as petrol. This is happening as the new price regime for PMS announced last week by the government officially took off on Monday. Source Punch Read More

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Investors Gains N309.78bn WoW as NSEASI Inches Up by 1.73% to Open the Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by +1.73% to close at 34,843.44 basis points as against -0.94% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +29.81%. Source Proshare Markets Read More

BAFI Awards: Hotforex Wins The 2020 "Forex Trading Platform of The Year" Award - HotForex has emerged as the 2020 "Forex Trading Platform of the Year" at the BusinessDay 8th Annual Banks & Other Financial Institutions Awards. Established in 2010, HotForex is a registered brand name of the HF Markets Group of companies. Source HotForex Read More


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Mainstreet Capital Relaunches its Brand, Promises a New Corporate Philosophy - Mainstreet Capital, a leading investment banking and asset management firm providing financial advisory, capital raising and asset management services, launches new brand identity and tagline to the public. A new identity and corporate philosophy the company says will help to position it as a growth partner of choice. Source Mainstreet Capital Read More

Own an App? Here Are Some Intellectual Property Issues to Consider - An application software (app) is a program or group of programs designed to help customers perform particular activities. These apps, which are usually on our electronic devices, are used to control several things ranging from health & fitness, music, movies, online shopping, gaming to mobile money transfers and even household appliances. Source Davidson Oturu, Partner, Aelex Read More

Nigeria Records $414.79m Foreign Direct Investment in Q3 - NBS - Nigeria recorded $414.79m Foreign Direct Investment in the third quarter of 2020 out of a total of $1.46bn capital inflow into the country during the period under review. The National Bureau of Statistics disclosed this in its 'Nigerian capital importation' report for the third quarter of 2020. Source Punch Read More

Don't Open Borders, NASME tells FG - The National Association of Small and Medium Enterprise has advised the President, Major General Muhammadu Buhari (retd.), not to succumb to the pressure to reopen the country's border in January 2021. Source Punch Read More

Pound Rises on Brexit Talks Extension, Stocks Mixed - Sterling rallied Monday after Britain and the European Union agreed to extend talks on a post-Brexit trade deal past a self-imposed deadline, while Asian markets were mixed as surging coronavirus infections tempered vaccine optimism. Source Guardian Nigeria Read More

U.S. FTC Seeks Data on How Facebook, Twitter, TikTok and Others Use Personal Data - The Federal Trade Commission is seeking information from Facebook, Twitter and other social media and video streaming companies about how they use the personal information that they collect on their users, the U.S. agency said on Monday. Source Reuters Read More

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Reasons to Hedge Your Investments with the Grenada Citizenship by Investment - You have done your research, narrowed down your options and are ready to invest. But there are still questions to be answered - should you invest in foreign markets? How much should you diversity your portfolio and what are the best ways to hedge your investments? Below we will address the strategy of hedging your investments with foreign investment and the reasons to do so. Source Range Developments Read More


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