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Nigeria in 1min: Economic, Business and Financial Headlines - 030223

Feb 03, 2023   •   by   •   Source: Proshare   •   eye-icon 342 views


Investors Gain N271.49bn as NGXASI Inches up Further by 0.93%; Overnight Rate Closes Flat at 10.88%; BDC Rate Closes Flat at N755 - The NGX All-Share Index inched up by 0.93% to close at 53,998.12 basis points as against 0.49% gain recorded previously to close at 53,499.68 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records a N271.49bn gain. YTD, the NGXASI Stands at +5.36%. Source Proshare Research Read More

ECB Raises the three Key Interest Rates by 50 Basis Points Following February 2023 Meeting, Expects to Raise Them Further - We would like to begin by congratulating Croatia on joining the euro area on 1 January 2023. We also warmly welcome Boris Vujčić, the Governor of Hrvatska narodna banka, to the Governing Council. We will now report on the outcome of today’s meeting. Source European Central Bank Read More

Federal Reserve Issues FOMC Statement and Implementation Note From Its January 2023 Meeting - Recent indicators point to modest growth in spending and production. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation has eased somewhat but remains elevated. Source Federal Reserve Read More



NNPCL Signs $741m Deal to Rehabilitate Kaduna Refinery - The Nigerian National Petroleum Company Limited has struck a $741 million deal with Daewoo Engineering and Construction Company to rehabilitate an oil refinery in Kaduna State. Source Punch Read More



CBN Directs DMBs to Pay Redesigned Naira Notes Over the Counter; Police and Other Agencies to Prosecute Sellers, Abusers of Naira - The Central Bank of Nigeria (CBN) has observed, with grave concern, the activities of persons who sell the newly redesigned banknotes and those who flagrantly abuse the legal tender by hurling wads of Naira notes in the air and stamping on the currency at social functions. Source CBN Read More

US Treasury Welcomes Clear Guidance On Pillar Two Global Minimum Tax, Tax Credit Protections - Guidance Adopted By Consensus Of The 142 Countries And Jurisdictions In The OECD/G20 Inclusive Framework Delivers Greater Certainty For U.S. Taxpayers And Protects Key Climate Incentives - Today, the OECD/G20 Inclusive Framework released a package of technical and administrative guidance that achieves clarity on the global minimum tax on multinational corporations known as Pillar Two, and provides critical protections for important tax incentives, including green tax credit incentives established in the Inflation Reduction Act. Source Mondo Visione Read More


Bank of China Ex-advisor Calls Beijing to Reconsider Crypto Ban - Huang Yiping, a former member of the Monetary Policy Committee at the People’s Bank of China (PBoC), believes that the Chinese government should think again about whether the ban on cryptocurrency trading is sustainable in the long run. Source Cointelegraph Read More


Nigerian Start-up Sues Foreign Firms Over €1.3m Contract - A start-up, Agriconnekt Services, has dragged two international agencies and a Nigerian firm before the Economic and Financial Crimes Commission and a High Court sitting in Port Harcourt, Rivers State over an alleged breach of contract. Source Punch Read More


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