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COVID-19 Health Updates

  • 22nd of July 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 170,306 cases (New: 184)
  • Discharged: 164,772
  • Deaths: : 2,130 (New: 2)

Source: NCDC Read More


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PROSHARE ECONOMY

GCR Affirms Coronation MB's National Scale Long and Short-term Issuer Ratings; Outlook Stable - GCR Ratings ("GCR") has affirmed Coronation Merchant Bank Limited's national scale long-term and short-term ratings of A-(NG) and A2(NG) respectively, with a Stable Outlook. Source By GCR Ratings Read More

Average Price of 1kg of Tomato Increased by 13.92% YoY in June 2021 - NBS - Selected food price watch data for June 2021 reflected that the average price of 1 dozen of Agric eggs medium size increased year-on-year by 17.69% and month-on month by 2.76% to N556.47 in June 2021 from N541.53 in May 2021 while the average price of piece of Agric eggs medium size (price of one) increased year-on-year by 21.44% and month-on-month by 2.46% to N51.22 in June 2021 from N49.99 in May 2021. Source NBS Read More

Allowable Deductions in the Computation of Companies Income Tax in Nigeria - The Companies Income Tax Act (CITA) 2004 (as amended) provides that companies income tax shall be imposed on the profits of a company derived from trade, rent or premium arising from a right to use property, dividends, interest, royalties, discounts, charges, fees, dues etc. Source CITN Read More

COVID-19 Wiped off $5bn Diasporan Remittances, Says FG - The Federal Government has said that the COVID-19 pandemic has wiped off 20 per cent from the $25bn annual diasporan remittances to Nigeria. The government noted that various targeted programmes were being implemented to shore up the deficit. Source Punch Read More

Economy Shrank in May Amid Low Purchasing Power - CBN - The Purchasing Managers Index revealed that the Nigerian economy contracted in May, according to data obtained from the Central Bank of Nigeria on Thursday. Source Punch Read More

Lagos NURTW Generates N123bn Annually - Report - The Lagos chapter of the National Union of Road Transport Workers, locally called agberos, generates about N123.08bn annually which could service the annual budget of Nasarawa, Niger, and Yobe states put together, a statistical report by the International Centre for Investigative Report has shown. Source Punch Read More


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PROSHARE MARKETS

Investors Gain N329.73bn as NSEASI Inches Up Further by 1.67% Amid Positive Market Breadth - Equities market closed today on a positive note, as NSEASI appreciated by +1.68% to close at 38,585.52 basis points as against +0.01% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -4.18%. Source By Proshare MARKETS Read More

How Egmarkets is Changing the Financial Services Story in Nigeria - The financial market is a very integral part of any nation's economy and for Nigeria, it is no different. With an expected market capital of 26.5 trillion dollars by 2022, the global financial markets constitute a significant percentage of global Gross Domestic Product (GDP). Source By Content Read More

Total Nigeria Reports N8.1bn PAT in Q2 2021 Results, Proposes N4.00K Interim Dividend; (Share Price: N168.00k) - Total Nigeria Plc, Petroleum and Petroleum Products Distributors company in Oil and Gas   sector announced 41.8% Revenue growth in Q2 2021 Result. Revenue grew by 42% to N151bn from N107bn in the previous quarter. Profit before tax stood at N11.8bn. Source NGX Read More

 

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PROSHARE BUSINESS

FITC set to Equip Boards with Competencies for Board Effectiveness and Business Growth - FITC, the world-class, innovation-led and technology-driven knowledge institution is set to deliver a virtual Board Leadership Programme themed 'Developing Board Competencies and Leadership Mindset for Board Effectiveness and Business Growth' on Thursday 29th and Friday 30th of July, 2021. Source By FITC Read More

FirstBank Celebrates 2021 Corporate Responsibility and Sustainability Week - The best definition of kindness is not one provided by any of the world's best dictionaries, but one demonstrated by how we treat others daily. Kindness is a universal language that does not require any special knowledge, exposure, skills, training. Source By Content Read More

DCSL Corporate Services Limited to host 9th Annual Audit Committee Seminar - DCSL Corporate Services Limited hosts the 9th edition of its flagship Annual Audit Committee Seminar themed Improving the Performance of the Audit Committee. DCSL Corporate Services Limited ("DCSL") will host Directors, Audit Committee members, Internal & External Auditors and Chief Finance Officers from various sectors of the Nigerian economy to its flagship annual Audit Committee Seminar. Source DCSL Corporate Services Limited Read More

Customs Enforces Zero Duty on Imported Aircraft, Spare Parts - After many deliberations, the Nigerian Customs Service (NCS) has finally begun the implementation of zero surcharges on imported commercial aircraft and spares parts used by local airlines. Source The Guardian Nigeria Read More

EIU Report: FG May Raise VAT to 15% Before 2025 - A report by the Economist Intelligence Unit (EIU), London, has predicted that the federal government might effect a 100 per cent rate increase in the Value Added Tax (VAT) from the current rate of 7.5 per cent to 15 per cent before 2025 in order to raise government's revenue. Source THISDAYLIVE Read More


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PROSHARE TECHNOLOGY   

Tradepass to host 7th Edition of World Financial Innovation Series - FinTech has the highest penetration in Africa, with 94% of population having regular access to the internet in South Africa alone. To note, in terms of VC funding for African FinTech startups, the fintechs raised a whopping US$ 350 million in 2020… Source By Tradepass Read More

Convergence Partners' Latest Fund to Drive Digital Inclusion in Africa - Convergence Partners, a private equity investor focused on the technology sector across sub-Saharan Africa, announced the successful first close of its third fund, the Convergence Partners Digital Infrastructure Fund (CPDIF) at US$120 million. Source Convergence Partners Read More

Huawei to Invest $150 Million in Digital Talent Development - Telecomms giant Huawei has unveiled its plans to invest $150 million in digital talent development over the next five years. This programme will be beneficial to about 3 million youths. "Today we are announcing Huawei's Seeds for the Future Program 2.0. As part of our commitment to continuously develop talent, we will invest US$150 million in this program over the next five years and help college students and young people improve their digital skills. Source The Nation Read More


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PROSHARE FINANCE

Total Health Trust Wins 2021 Best HMO Awards at the 7th edition of the NHEA - Total Health Trust, Nigeria's Leading Health Maintenance Organisation has been awarded the Best Health Maintenance Organization (HMO) of the Year at the 7th edition of the Nigeria Healthcare and Excellence Awards (NHEA). Source By Total Health Trust Read More


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