PROSHARE MARKETS

Investors Gain N88.05bn as NGXASI Advances by 0.29%; Overnight Rate Closes Flat at 10.83%; BDC Rate Closes Flat at N757 - The NGX All-Share Index advanced by 0.29% to close at 55,670.24 basis points as against a 0.53% loss recorded previously to close at 55,508.61 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records a N88.05bn gain. YTD, the NGXASI Stands at +8.62%. Source Proshare Research Read More

PROSHARE ECONOMY

Resilience In Turbulent Times: Nigerian Banks’ Digital Transformation Should Continue to Support Performance in 2023 - Nigerian banks' digital transformation should continue to support their performance in 2023 thanks to the associated increase in transaction income, S&P Global Ratings said in report titled "Nigerian Banking Sector 2023 Outlook: Resilience in Turbulent Times. Source S&P Global Ratings Read More

US Joins Other International Observers to Urge INEC to Improve in Areas That Need Attention Ahead of March 11 Gubernatorial Elections - The United States congratulates the people of Nigeria, President-elect Tinubu, and all political leaders following the declaration by Nigeria’s Independent National Electoral Commission (INEC) on the results of the February 25 presidential election. Source U.S. Embassy & Consulate in Nigeria Read More

New Worries for Central Bankers - “The job of the central bank is to worry.” That’s how Alice Rivlin, vice chair of the Federal Reserve Board in the 1990s, described the work of monetary policymakers. Back then, central bankers had one main concern: to keep inflation in check. Source IMF Read More

PROSHARE REGULATORS

Nigeria's FATF Grey Listing Could Increase Costs for Banks - S&P Global Ratings said that Nigeria's inclusion in the Financial Action Task Force's (FATF's) grey list could raise financial transaction and compliance costs for the Nigerian banking sector and exacerbate already severe foreign currency shortages. That said, these risks are largely captured within our existing ratings on the sovereign and Nigerian financial institutions. Source S&P Ratings Read More

Economic Conditions, Regulations to Raise Digital Payment Risks - As digital payment in the Nigerian financial space is expected to rise with increased participation of mobile network providers, analysts at Agusto&Co have said, economic conditions and regulations will significantly raise risks in the industry. Source Leadership Read More

Banks’ Assets Rise to N73tn – CBN - Total assets of the banking industry grew by N14.36tn or 24.24 per cent from N59.24tn at the end of December 2021 to N73.59tn in the corresponding period of 2022. The Central Bank of Nigeria disclosed this in the personal statement made by the Deputy Governor, Financial System Stability Directorate, CBN, Aishah Ahmad, at the last Monetary Policy Committee meeting. Source Punch Read More

PROSHARE BUSINESS

Jeremy Awori leads Ecobank Group as the New Chief Executive Officer - Ecobank Transnational Incorporated (ETI) (Ecobank.com), the parent company of the Ecobank Group, the leading pan-African banking group, is pleased to announce that Jeremy Awori has officially assumed his role as Chief Executive Officer of the Ecobank Group. Source Ecobank Read More

Adopting an Agile Mindset to Transform the Customer Experience Journey - As an organisation, it is important to have processes and established ways of doing things to guide employees. Failure to have processes will increase operational costs and waste, and the business is at risk of missing customer deadlines leading to unsatisfied customers. In addition to the importance of processes, it has become necessary for organisations to have an Agile Mindset. Source Phillips Consulting Read More

Adaora Umeoji Retires as Zenith Bank Deputy Managing Director - The Deputy Managing Director of Zenith Bank Plc, Dr. Adaora Umeoji has retired from the financial institution following the new tenure limits for banks’ executives released recently by the Central Bank of Nigeria (CBN). Her retirement became effective from February 24th, 2023. Source THISDAYLIVE Read More

PROSHARE TECHNOLOGY

8.7% of Users Encountered Phishing Attacks in Africa in 2022, Global Number of Attacks Exceeds 500m - Kaspersky’s anti-phishing system prevented more than 500 million attempts at accessing fraudulent websites globally in 2022. This is twice more compared to 2021 figures. In Africa, 8.7% of individuals and corporate users were affected by phishing: attacks on their devices were detected and stopped. Source Kaspersky Read More

Huawei Launches Green 1-2-3 Solution - Global technology giant- Huawei has launched the Green 1-2-3 Solution. The launch took place during the Huawei Green ICT Summit in Barcelona, Spain. Source Leadership Read More

Airtel Partners itel, Launches Affordable 4G Smartphone for Nigerians - Airtel Nigeria has partnered itel to launch the latest affordable 4G smartphone, itel A60 smartphone. This was announced during a press briefing which held at Marriot Hotel, Ikeja, recently. Source THISDAYLIVE Read More