Nigeria in 1min: Economic, Business and Financial Headlines - 271120


Friday, November 27, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @BPENigeria

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COVID-19 Health Updates

  • 26th of November 2020: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 66,974 cases (New: 169)
  • Discharged:  62,585
  • Deaths: : 1,169 (New: 0)

Source: NCDC Read More

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Post-November 2020 MPC View: Back to the Committee's Favoured Stance - The monetary policy committee (MPC) left its policy rate of 11.50% and other parameters unchanged on Tuesday. This was our expectation. The vote was unanimous on all counts among the ten members participating. Source FBNQuest Research Read More

N416.01bn Generated as Company Income Tax in Q3 2020 - NBS - Data on Company Income Tax breakdown by sectors for Q3 2020 reflected that the sum of N416.01bn was generated as CIT as against N402.03bn generated in Q2 2020 and N520.89bn generated in Q3 2019 representing 3.48% increase Quarter-on-Quarter and -20.13% decrease Year-on-Year. Source NBS Read More

Company Income Tax Revenue Hits N416.01bn in Q3 - Revenue from Company Income Tax rose slightly to N416.01bn as of the end of the third quarter of 2020. The National Bureau of Statistics disclosed this in the Company Income Tax by Sectors (2015 - Q3 2020) report released on Thursday. Source Punch Read More


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Investors Gain N17.77bn, NSEASI Inches Up by 0.10% as Market Breadth Closes Flat - Equities market closed today on a positive note, as NSEASI appreciated by +0.10% to close at 34,803.00 basis points as against +1.25% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +29.66%. Source Proshare Markets Read More

364-Day T-bill at 0.15% Yield: How Low Can It Get? - Yesterday, the CBN conducted a primary market auction, with N150.6bn worth of treasury bills on offer across the 91-, 182- and 364- Day tenor. Stop rates trended lower as the 91-day, 180-day and 364-day papers closed at 0.02% (previously 0.035%), 0.19% (previously 0.15%) and 0.15% (previously 0.30%), in that order. Source United Capital Research Read More


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NNPC Presents First Budget to N'Assembly in 43 years - The House of Representatives, on Thursday, hailed the Nigerian National Petroleum Corporation for presenting its budget to the National Assembly for the first time. This was just as the Group Managing Director, NNPC, Mele Kyari, told the House that all the refineries had been shut down as vandals, thieves and weakness of the pipelines were frustrating supply of crude to the facilities. Source Punch Read More

FG Can No Longer Bear Electricity Tariff shortfalls - Buhari - The President, Major General Muhammadu Buhari (retd.), has said the tariff shortfalls in the power sector being borne by the Federal Government are no longer sustainable. Buhari said this on Thursday at the inauguration of Eko Electricity Distribution Company's Supervisory Control and Data Acquisition-Distribution Management System Centre in Lagos. Source Punch Read More

AfDB to Set Up Agro-finance Fund - The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has disclosed that the bank is partnering with relevant stakeholders, "to design a pan-African private equity fund for agriculture to be known as the Fund for Agricultural Finance in Africa (FAFINA)." Source THISDAYLIVE Read More

Shares Stuck Near Peaks, U.S. Oil Futures Extend Declines - Asian shares stalled near record highs on Friday as investors weighed renewed doubts about a highly-anticipated coronavirus vaccine against hopes that some of the region's economies will recovery quicker than their Western peers. Source Reuters Read More


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Wealth Generation: Ecobank Advocates Collaboration Between Economic Stakeholders - The Managing Director, Ecobank Nigeria, Patrick Akinwuntan has advocated a closer collaboration between banks, Telcos, Fintechs and industry regulators to enhance savings and lending in the financial landscape. Source Ecobank Read More

WorldRemit Launches a New Price Drop on Transfers to Nigeria this Black Friday - WorldRemit, a leading global digital payments company, has announced the launch of its new zero percent pricing for international transfers to Nigeria. The new lowered price allows customers to send more to family and friends in Nigeria with absolutely no fees and FX margins. Source WorldRemit Read More

Fintech Space Grew 800% During COVID-19 as CBN Lists Pandemic Lessons - Despite the pandemic, the Financial Technology (Fintech) payment space in Nigeria grew by about 800 per cent. This was revealed by the Chief Executive Officer of Ecobank, Patrick Akinwuntan, during a panel session at the Fintech Nigeria: the State of Play, virtual conference. Source The Guardian Nigeria Read More

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WHO Urges African Countries to Ramp up Readiness for COVID-19 Vaccination Drive - As the race to find a safe and effective COVID-19 vaccine is showing increasing promise, a new World Health Organization (WHO) analysis finds that Africa is far from ready for what will be the continent's largest ever immunization drive. Source World Health Organization  Read More


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