Nigeria in 1min: Economic, Business and Financial Headlines - 261021


Tuesday, October 26, 2021 / 5:51 AM / By News Aggregator / Header Image Credit: WebTV


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 COVID-19 Health Updates

  • 25th of September 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 211,171 cases (New: 711)
  • Discharged: 202,674
  • Deaths: 2,884 (New: 2)

Source: NCDC Read More


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Coordination of Nigeria's Fiscal and Monetary Policies will Attract More FDIs - Laoye Jaiyeola - Nigeria needs an alignment in its fiscal and monetary policies to attract more local and foreign direct investments, which can unlock economic opportunities. Source Ottoabasi Abasiekong for WebTV Read More

FG to End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding - The World Bank has decried the continued spending by the Nigerian government on petrol subsidy, which it said is on track to gobble up N2.9tn this year. Source Punch Read More

CBN Unveils New Financial Instrument to Fund 100 Private Companies Every 100 Days - The Central Bank of Nigeria (CBN) on Monday announced the introduction of a new financial instrument known as 'The 100 for 100 PPP' Policy on Production and Productivity to boost local production and productivity in various sectors of the economy. Source Nairametrics Read More

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The Phoenix: Matters Arising as Otedola Acquires 5% Interest in FBNH - In a move noticed by Proshare after its report on FBHN's Shaky House of Cards, Nigerian businessman and former chairman of Forte Oil (now Ardova Plc), Femi Otedola acquired a major stake in First Bank of Nigeria Holdings. Source Proshare Research Read More

Investors Gain N26.86bn as NSEASI Inches Up by 0.12% to Open the Week Positive - Equities market closed today on a positive note, as NGXASI appreciated by +0.12% to close at 41,814.74 basis points as against +0.14% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +3.83%. Source Proshare Markets Read More

Derivatives to Deepen Market Activity on NGX - A well-developed Derivatives market in the Nigerian capital market will undoubtedly support the growth of the economy and the market as a whole. Market players recognise that Derivatives are critical in the development and growth of the economy. Source NGX Read More

NAFEX Rate Depreciated Marginally by 0.01% WoW to N413.43 from N413.40 - In the FX Spot and Derivatives markets, the total turnover for the week-ended October 22, 2021, was $911.38 million, representing a decrease of 41.92% ($657.70 million) from $1,569.08 million reported for the week-ended October 15, 2021. Source FMDQ Read More 

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The Future of Work is Here: How will Nigerian Organisations Adapt? - The future of work has evolved from generation to generation, but the transition from the pre-covid era with 40-hour weeks, daily commutes, and physical presence to remote working and or a hybrid of the two. Source Phillips Consulting Read More

Foreign Firms Eyeing Nigerian Airports, Says Sirika, FG Demands Proposals - The Federal Government has said it will send requests for proposals to qualified bidders for the concession of Nigeria's four major international airports after assessing the requests for qualification. Source Punch Read More

Oil Companies' Gas Flare Payments Jump from $15.4m to $307.4m in One Year - Gas flaring payments made by oil companies increased from a meagre $15.5 million to $307.4 million between 2018 and 2019, the most recent audit report from the Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed. Source THISDAYLIVE Read More

Saudi Aramco to Achieve Net Zero Emissions by 2050 - Saudi Aramco aims to achieve net zero emissions from its operations by 2050 while also building hydrocarbon capacity and expanding its maximum sustained production capacity to 13 million barrels per day, Chief Executive Amin Nasser, has said. Source THISDAYLIVE Read More

CBN Launches New Policy to Financially Support 100 Companies Every 100 Days - The Central Bank of Nigeria (CBN) has launched a new policy to financially support 100 targeted private sector companies in 100 days. Godwin Emefiele, CBN governor, said this on Monday in Abuja during the launching of the eNaira project. Source TheCable Read More

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CBN Publishes Regulatory Guidelines on the eNaira - The Central Bank of Nigeria, under the Central Bank of Nigeria (CBN) Act 2007 and the Banks and Other Financial Institutions Act (BOFIA) 2020, is empowered to issue legal tender currency, ensure financial system stability and promote the development of electronic payments system. Source CBN Read More

NCC Alerts Telecom Consumers on Flubot Malware - The Nigerian Communications Commission (NCC) wishes to alert millions of Nigerian telecom consumers of the existence of new, high-risk and extremely-damaging, Malware called Flubot. Source NCC Read More

Firstbank Partners NIBSS to Drive Digital Payment Convenience with Nigeria Quick Response - First Bank of Nigeria Limited, Nigeria's premier and leading financial inclusion services organisation has announced its partnership with Nigeria Inter-Bank Settlement System plc (NIBSS) on its recently launched Nigeria Quick Response (NQR) Payment Solution. Source Firstbank Read More


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Ecobank Day: Stop the Discrimination Against Victims of Mental Health Disorder - Akinwuntan - Ecobank Nigeria has reiterated its commitment towards promoting mental awareness for its staff, customers, and the communities where it operates being part of its corporate action to support general wellbeing amongst citizens. Source Ecobank Read More 

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