PROSHARE MARKETS

What to Expect from the Markets this Week - 060323 - The Supreme Court on Friday ruled that the old N200, N500 and N1000 currency notes must remain legal tenders till December 31, 2023. The CBN’s Naira Redesign and Currency Mop-up policies had seen N1.77trn of currency in circulation being withdrawn. The impact of the demonetization policy has been severe, with many MSMEs recording low turnover due to the lack of cash. Source Proshare Research Read More

Trading Statistics in 2022: Total Market Value Decreased by -15.57% in 2022 - Download the Full PDF Reports Here: Trading activities 0n the Nigerian Equities market closed the Year 2022 with +19.98% gain as against +6.07% gain in 2021, +50.03% gain in 2020 and -14.60% loss recorded in 2019. Analysis of market turnover revealed that total volume traded decreased by -15.57% in 2022 as against -13.53% decline in 2021 and +21.69% growth recorded in 2020. Source Proshare Research Read More

PROSHARE ECONOMY

Old Dogs & New Tricks: Nigeria’s Election Throws Up Interesting Outcomes - The 2023 presidential elections will be recorded in Nigeria’s history books. For good or bad? We’ll leave you to decide. On February 25, 2023, Nigeria held its sixth presidential election under the new electoral laws institutionalized in 2022. This was the tightest race since the 1999 elections with a strong third force. APC, PDP and the Labour Party (LP). Source FDC Ltd Read More

Nigeria’s Highly Contested Election and Its Fallout - An interesting and keenly contested election with the longest campaign period in the short history of Nigeria’s plural democracy came to an end at 4am on Wednesday. Bola Tinubu was declared winner having won 8.9million votes out of 24.96mn votes cast. The election was marred by violence, thuggery and ballot box snatching. It is the election with the lowest voter turnout (26.07%) since the return to civil rule in 1999. Source FDC Ltd Read More

PROSHARE REGULATORS

CBN Releases N114bn Under 100-for-100 Policy - The Central Bank of Nigeria has disbursed N114.17bn to beneficiaries under its 100-for-100 Policy on Production and Productivity since the commencement of the intervention. This was disclosed in a communiqué issued by the CBN Governor, Godwin Emefiele, after the last Monetary Policy Committee meeting held in Abuja. Source Punch Read More

PROSHARE BUSINESS

Quoted Companies and the Power of ESG - It is settled in securities analysis and portfolio management that every investment is a trade-off of risk and return. An investor's ultimate goal is to maximize return and minimize risk. The higher the risk, the higher the return and vice versa. This explains why speculators have high-risk appetites. Source Sola Oni Read More

Banks’ NPL Sustains Decline at 4.2%, Assets Up 24.24% to N73.59trn - The Central Bank of Nigeria (CBN) has stated that the non-performing loans (NPLs) in the nation’s banking sector have sustained a decline further below the regulatory benchmark of 5 per cent to 4.2 per cent at the end of December 2022. Source THISDAYLIVE Read More

NEXIM’s Push to Boost Nigeria’s Non-oil Exports - Nigeria’s annual Gross Domestic Product (GDP) growth rate slowed to 3.10 per cent in 2022, compared to 3.40 per cent in 2021, the National Bureau of Statistics (NBS) disclosed recently. Source THISDAYLIVE Read More

PROSHARE TECHNOLOGY

Statement on Claims Regarding Flutterwave’s Security - At Flutterwave, we understand that our customers’ personal and financial information is of the utmost importance. We take this responsibility seriously and understand that any potential security breach can cause anxiety and concern among our customers. Source Flutterwave Read More

Flutterwave Denies Cyber Attack, Says No Customer Lost Funds - There have been concerns over a purported illegal transfer of funds from the fintech company, with netizens taking to social media to express worries. In a statement on Sunday, Flutterwave said none of its customers have lost their funds. Source TheCable Read More

Internal Documents Reveal Australia’s Potential Timeline for Crypto Legislation: Report - Crypto legislation in Australia could be dragged out past 2024 and beyond, with the government seemingly wanting to take its time in order to get a full picture of the industry, internal documents from the government have revealed. Source Cointelegraph Read More

PROSHARE FINANCE

Countries Begin Negotiations on Global Agreement to Protect World from Future Pandemic Emergencies - Countries of the World Health Organization have begun negotiations on a global accord on pandemic prevention, preparedness and response, using the “zero draft” as a basis for negotiating an agreement to protect nations and communities from future pandemic emergencies. Source WHO Read More