Nigeria in 1min: Economic, Business and Financial Headlines - 160421


Friday, April 16, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @MobilePunch


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COVID-19 Health Updates 

  • 15th of April 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 164,080  cases (New: 80)
  • Discharged: 154,285   
  • Deaths: : 2061 (New: 0)

Source: NCDC Read More

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Headline Inflation Increases by 18.17% YoY In March 2021, 0.82% Higher Than February 2021 Rate - NBS - The consumer price index, (CPI) which measures inflation increased by 18.17 percent (year-on-year) in March 2021. This is 0.82 percent points higher than the rate recorded in February 2021 (17.33 percent). Source NBS Read More

Creative Africa Nexus Presents a Digital Event - The Creative Africa Nexus (CANEX), a programme put in place by the African Export-Import Bank (Afreximbank) to support Africa's creative and cultural industries, announces a series of virtual forums in the lead-up to the Intra-African Trade Fair 2021 (IATF2021) taking place in Kigali, Rwanda from 8 to 14 December 2021 with the next event being focused on intellectual property. Source Creative Africa Nexus Read More

Is the CBN's Fiat-led Intervention Working? - At the May Monetary Policy Committee (MPC) meeting, the CBN governor highlighted the status around its several interventions in the real economy. In the manufacturing sector, he disclosed the apex bank has disbursed N803.4bn out of its N1.0tn Manufacturing Intervention Stimulus. Source United Capital Research Read More


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SEC to Engage Fintech Players - The Securities and Exchange Commission has stated that it will continue to engage players in the Fintech space and support them to operate lawfully in a bid to ensure the delivery of safe products and services without stifling innovation. Source SEC Nigeria Read More


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Investors Lose N33.63bn as NSEASI Dips by -0.17%, Halts Positive Posture - Equities market closed today on a negative note, as NSEASI depreciated by -0.17% to close at 38,571.89 basis points as against +0.09% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -4.22%. Source Proshare Markets Read More

Dangote Cement Q4 2020 Results Review: Bullish Outlook for '21f Driven by Capacity Addition - DangCem delivered strong Q4 '20 results with earnings up +55% y/y to N86.8bn. However, we have made negligible changes to our EPS forecast over the '21-22f period because Q4 figures were broadly in line with our expectations. Source FBNQuest Read More

Once Again, DMO Raises Rates for The 1-Year Tenor at The T-Bills Primary Auction - Another bearish session ensued in the FGN bond market, as investors shrugged off the positive GDP report released by the NBS earlier in the day. Supply persisted across the benchmark curve, as yields at the belly crossed the 12.00% mark (2027s and 2028s) while the long-end papers (2045s-2050s) changed hands around 13.80% levels. Source Zedcrest Capital Read More

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Ecobank Offers Mortgage Loans, Investment Options for Nigerians in Diaspora - Ecobank has rolled out several investment packages and opportunities to encourage Nigerians in the diaspora to own houses in the country and also participate actively in money and capital markets. Source Ecobank Read More

$300m BUA Lafiagi Sugar Refinery to be Commissioned in 2022 - The BUA Lafiagi Integrated Sugar Refinery Plant which is receiving the full support of the Nigeria Sugar Development Council is expected to be completed for commissioning by 2022. Source Ottoabasi Abasiekong for WebTV Read More 

FAO, AU to Boost Intra-African Trade in Agric Commodities - The Food and Agriculture Organisation of the United Nations and the African Union Commission said on Thursday that increased agricultural trade between African countries can drive sustainable development and play a pivotal role for the transformation of food systems. Source Punch Read More

Forex Crisis Putting Investments, Jobs at Risk, Says LCCI - The difficulties faced by many investors in Nigeria in accessing foreign exchange for importation of raw materials, equipment and some critical inputs for production and processing is putting investments and jobs at risk, the Lagos Chamber of Commerce and Industry has said. Source Punch Read More

BDCs Record N1tn Turnover, Seek Diaspora Remittances Agency - The Association of Bureaux de Change Operators of Nigeria has said that its annual turnover is now N1tn. The President, ABCON, Alh Aminu Gwadabe, said this during a virtual event with the theme 'BDCs' operations: A trillion-naira sub sector, issues of formalisation, regulations and way forward' organised by ABCON to beam light on key opportunities and challenges faced by the BDCs sub-sector. Source Punch Read More

CBN to Place Sugar, Wheat on FX Restriction List - The Central Bank of Nigeria (CBN) is working to include sugar and wheat on the list of commodities that will be banned accessing foreign exchange (FX). CBN Governor Godwin Emefiele made this disclosure on Thursday in Awe, Nasarawa state during an inspection tour of the proposed $500 million Dangote sugar processing facility. Source The Nation Read More

U.S. Retail Sales Post Largest Gain in 10 Months; Weekly Jobless Claims Fall - U.S. retail sales rose by the most in 10 months in March as Americans received additional pandemic relief checks from the government and increased COVID-19 vaccinations allowed broader economic re-engagement, cementing expectations for robust growth in the first quarter. Source Reuters Read More

Court Grants Permission to Serve Processes on ETI Abroad - The stage may have been set for a showdown between Ecobank Transnational Inc (ETI) and one of its former senior executives, Moyo Kamgaing, as the National Industrial Court sitting Lagos, has ordered him to serve court processes on the organisation (ETI) at its head office in Lome, Togo. Source THISDAYLIVE Read More

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FG Approves the Activation of New SIM Registration with Mandatory NIN - The Nigerian Communications Act (NCA) 2003, Section 23(a), specifies the role of the Minister to include the formulation, determination and monitoring of the general policy for the communications sector. Source Federal Ministry of Communications and Digital Economy Read More

Firstbank Covens Webinar to Promote Information Security in Today's Digital Age - First Bank of Nigeria Limited, Nigeria's leading financial inclusion services provider has announced a webinar to sensitise individuals and businesses with useful information on being protected in today's digital age. Source Firstbank Read More 


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Experts to Provide Insights on Tech and Digital Transformation at MSME Dialogue 3.0 - The third edition of MSME Dialogue will take place on Saturday, April 24, 2021, at 10 am (WAT). Experts at the virtual event will provide insights while discussing the theme: Powering MSMEs with Technology and Digital Transformation. Source MSME Africa Group Read More


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