Nigeria in 1min: Economic, Business and Financial Headlines 220819


Thursday, August 22, 2019 / 06:45 AM / By News Aggregator / Header Image Credit: NSE


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CBN Issues Circular On The Guidelines For The Disbursement Of Lower Denomination Banknotes - The MFBs shall have a Composite Risk Rating (CRR) of ABOVE AVERAGE in the most recent RBS/Target examination. Restricting participation to MFBs with satisfactory ratings will ensure that only MFBs with good corporate governance practices take part. Source CBN Read More

Buhari Signs N600bn Intervention Fund For Power Sector - The power sector is going to get another intervention of N600bn from the Federal Government very soon. President Muhammad Buhari has signed for the release of the funds; it was gathered on Wednesday in Abuja. Source Punch Read More


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Naira Weaker On Lower Oil Prices, Apathy For Stocks And Profit Taking In The Local Debt Market - The Nigerian Naira has faced upside pressure since the start of the third-quarter as the Naira exchange rate to the dollar on the Investors and Exporters (I&E) window has depreciated by 1% to N363.68/$ from N360.74/$ at the end of the second quarter. Source CSL Research Read More 

GTBank LDR At 57%; To Grow Loans By N50bn To Meet CBN 60% LDR Limit - Guaranty Trust Bank Plc (GUARANTY: TP 41.96 - BUY) recently held a conference call following the release of its H1 2019 results. The following are some of the highlights from the session with management. Source CardinalStone Research Read More 

NSE Delists SKYEBANK and FORTISMFB From Its Daily Official List Effective August 21, 2019 - Pursuant to Clause 15 of the General Undertaking, Appendix III of the Rule Book of The Nigerian Stock Exchange, 2015 (Issuers Rules), the under listed companies were delisted from the Daily Official List of The Nigerian Stock Exchange (The Exchange) today, Wednesday, 21 August 2019. Source NSE Read More 

NSEASI Erases Previous Day Loss, Inches Up By 1.09% - Equities market closed today on a positive note, as NSEASI appreciated by +1.09% to close at 27,352.94 points as against -0.21% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -12.97%. Source Proshare Read More 

DMO Records Lowest FGN Bond Auction Sale in 8-Months - The FGN Bond market traded on a relatively flat note, with yields inching higher by c.5bps on the day, as market players awaited results from the FGN Bond auction. Source Zedcrest Capital Read More 

NSE Partners JP Morgan To Develop Robust Derivatives Market - Consistent with its commitment to developing a thriving derivatives market in Nigeria, The Nigerian Stock Exchange is collaborating with JP Morgan Chase to facilitate in-depth capacity building programme on derivatives market. Source NSE Read More 

Stocks Slip as Traders Mull Fed; U.S. Yields Dip: Markets Wrap - Stocks in Asia drifted lower Thursday as investors found little in minutes from the Federal Reserves latest meeting to alter expectations for more aggressive interest-rate cuts. Treasury yields edged lower and the yuan weakened. Source Bloomberg Read More

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Insurers Seek NSE Support For Recapitalisation - The Chairman of Nigerian Insurers Association, Mr Tope Smart, has asked the Nigerian Stock Exchange to assist the insurance companies in its bid to meet the new capital base prescribed by the National Insurance Commission. Source Punch Read More  

Fed Was Divided On Rate Cut, Wanted To Avoid Appearing On Path For More Cuts - Federal Reserve policymakers were deeply divided over whether to cut interest rates last month but were united in wanting to signal they were not on a preset path to more cuts, a message not likely to sit well with U.S. President Donald Trump.  Source Reuters Read More

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CAC Updates Registration For SMEs, Others - In a statement culled from the Commission website, users will now have an option to check for conflicting names before making a name reservation to reduce the number of denied name reservations and the attendant costs. Source The Sun Read More


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