Nigeria in 1min: Economic, Business and Financial Headlines - 240621


Thursday, June 24, 2021 / 5:53 AM / By News Aggregator / Header Image Credit: @AfDB_Group

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COVID-19 Health Updates

  • 23rd of June 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 167,375 cases (New: 44)
  • Discharged: 163,917
  • Deaths: : 2,118 (New: 0)

Source: NCDC Read More

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37.67% of Nigeria's Total Public Debt Was External as of Q1 2021 - NBS - Nigerian States and Federal Debt Stock data as of 31st March 2021 reflected that the country's total public debt portfolio stood at N33.11trn. Source NBS Read More

424,460 Passengers Travelled Via Rail in Q1 2021 - NBS - The rail transportation data for Q1 2021 reflected that a total of 424,460 passengers travelled via the rail system in Q1 2021 as against 647,055 passenger recorded in Q1 2020 and 134,817 in Q4 2020 representing -34.40% decline YoY and +214.84% growth QoQ respectively. Source NBS Read More

Clutch Replacement Cost - If you are dealing with problems with your auto's clutch, you will be in for expensive repairs. The average clutch replacement cost is around $1,200 to $1,400, which includes both parts and labor. Source Sponsored post by Mako Turk Read More

CBN Plans Increased Supply of Rice to Reduce Price - Rice, being a major staple in Nigeria, is an important part of the diet of almost every household. With average local consumption significantly above production, Nigeria, until recently, was the second-highest importer of rice. Source CSL Research Read More 

National Assembly to Pass N895.8bn Supplementary Budget Tuesday - The President of the Senate, Ahmad Lawan, on Wednesday, referred the N895, 842,465,917.00 Supplementary Budget meant to tackle insecurity and health related issues to the Committee on Appropriation. Source Punch Read More

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SEC Nigeria Approves Chaka as the First Licensed Digital Sub-Broker - Digital Investment Platform, Chaka, has announced its recent acquisition of the Digital Sub-Broker/Sub-Broker Serving Multiple Brokers Digital Platform License by the Securities and Exchange Commission (SEC) Nigeria, in line with the digital platforms determination to ensure regulatory compliance. Source Chaka Read More


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Investors Lose N22.21bn as NSEASI Dips by -0.11%, Maintains Negative Posture - Equities market closed today on a negative note, as NSEASI depreciated by -0.11% to close at 37,804.46 basis points as against -0.27% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -6.12%. Source Proshare Markets Read More

FBN Holdings Urges Investors to Seek Guidance from Financial Advisors to Improve Returns - FBN Holdings (FBNH) Plc has advised investors in the country's capital market to get financial advice from qualified and registered financial advisers before making investment decisions Source FBN Holdings Read More

System Liquidity Rolls Back into Negative as Banks Opens Fresh REPO With CBN - The Bond Market traded on a relatively quiet note, with some slight demand seen at the short to mid-end of the yield curve. Trading volumes remained subdued with most of the market action seen on 2024s and 2027s papers which changed hands around 11.45% and 12.55% respectively. Source Zedcrest Capital Read More

FG, Corporates Raised N4.58trn from the Fixed Income Market as of June 3rd, 2021 - NGX - Despite the weak macroeconomic situation, Nigerian Exchange (NGX) Limited continues to provide issuers with a platform that allows them meet their strategic business objectives as Federal Government and corporates have so far raised N4.58 trillion from the capital market via the fixed income segment from Jan to June 3, 2021. Source NGX Read More

ETI Opens the Market at the LSE after Successfully Listing its US$350m Sustainability Bond - Ecobank Transnational Incorporated ("ETI"), the Lome based parent company of the Ecobank Group, was hosted today by the London Stock Exchange for a market opening virtual ceremony to celebrate the successful listing of the Tier 2 Sustainability Notes on the London Stock Exchange (LSE) main market. Source Ecobank Group Read More 


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Facebook Partners with Reuters to launch free online course for Journalists - The Facebook Journalism Project has partnered with Reuters to launch a free online training programme for Journalists, called the Reuters Digital Journalism Course ( Source Facebook Africa Read More

SEC Issues Official Disclaimer on the Registration of MBA Capital and Trading Limited - The attention of the Securities and Exchange Commission ("the Commission") has been drawn to a publication in one of the National Daily Newspapers, in which a victim of an alleged scam perpetrated by MBA Capital and Trading Limited, Misan Sagay reportedly stated that he had verified "on-line" and ascertained that the company was registered with the Commission. Source SEC Nigeria Read More

Lagos-Ibadan Railway Route to Generate N1.1bn Annually - The Federal Government will be raking in about N1.1bn yearly from the operations of the newly launched Lagos-Ibadan standard gauge railways. This is based on the analysis of data obtained from the Nigeria Railway Cooperation by our correspondent on Tuesday. Source Punch Read More

Nigeria's FDI Inflows Increased 4% to $2.4b, Says UN - Foreign direct investment (FDI) inflows into Nigeria increased to $2.4 billion last year from $2.3billion in the previous year despite the COVID-19 pandemic that plagued global economies, a new report has shown. Source The Nation Read More

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Most Important Things You Should Know About Bitcoin - Bitcoin is the most widely used cryptocurrency in the world, but many people are unaware of its existence. Bitcoin, whether you have heard of it or not, may appear a little suspicious. Source Sponsored post by Hannah MacAdie7 Read More

Here Are 5 Things You Need to Know! - Spotify launched in Nigeria in February this year, meaning that music fans across the country could immediately enjoy millions of songs and over 3 billion playlists for every mood and moment, free. Source Spotify Read More

The Phenomenal Growth of eCommerce in Sub-Saharan Africa - Olufunmi Fagbulu - eCommerce has experienced phenomenal growth, across the world and even in Sub-Saharan Africa. In this excerpt from the 2021 Digital Pay Expo, Olufunmi Fagbulu, Business Development, Leader, Merchant Sales & Solutions, Visa West Africa, speaks about how SMEs are driving market expansion for eCommerce in the region. Source Visa Read More

FG Plans to Establish Emerging Technology Centres - The Federal Government has declared its plan to establish emerging technology centres across Nigeria. The Minister of Communications and Digital Economy, Isa Pantami, disclosed this on Tuesday during his keynote address as the special guest of honour at the Digital Africa Annual Conference, which held virtually. Source Punch Read More

Broadband Penetration Slow, But on Track, Says Opeke - The Co-Chairman, Nigeria National Broadband Plan (NNBP), and CEO of MainOne Broadband Company, Ms. Funke Opeke, has said although Nigeria is not moving as fast as it should in its broadband target, the country is however on track towards achieving the target of 90 per cent coverage of the entire population of Nigeria and penetration rate of 70 per cent by 2025. Source THISDAYLIVE Read More

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Heirs Holdings Enters Insurance Market - Promises Insurance Revolution - Heirs Holdings (HH) announced the Group's transformative insurance industry play, with the launch of Heirs Insurance Limited (HIL) and Heirs Life Assurance (HLA), on Tuesday, June 1, 2021, at the companies' Victoria Island headquarters in Lagos. Source Heirs Holdings Read More

AXA Mansard Deepens Insurance Penetration in Nigeria; Creates Business Opportunity - In line with our company's strategy to deepen insurance penetration in the country, AXA Mansard Insurance plc., hereby announce the launch of its empowerment program that enables participants be their own boss. Source AXA Mansard Read More

NAICOM Blindsided, NIA Acts, Expels IGI and 2 Others from its Membership - The Nigerian Insurers Association (NIA) has issued a public notice duly published in a national newspaper announcing the expulsion of three (3) insurance companies from its membership. Source Proshare Research Read More 


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