PROSHARE ECONOMY

Baffling Questions on the Economy - LBS Executive Breakfast Session – August 2022 - At this month’s LBS Breakfast Session, 5 baffling questions on the economy were asked. The questions reveal a thread of frustration, desperation, and near hopelessness. Source FDC Limited Read More

Economic Associates to Hold Q3 2022 Nigeria’s Economic Outlook Conference in Lagos on September 22nd, 2022 - Economic Associates (EA) will host a conference on Nigeria’s Economic Prospects on Thursday, 22 September 2022, at Lagos Continental Hotel, Plot 52A, Kofo Abayomi Street, Victoria Island (with online option). Source Economic Associates Read More

Govt Should Prioritise Forex Allocation to Manufacturers – NECA - The Nigeria Employers Consultative Association has said allocation of available forex to manufacturing and other productive sectors of the economy should be given priority as forex scarcity persists. Source Punch Read More

FG to Implement Telecoms, Beverage Taxes in 2023 - The Federal Government through the Budget Office of the Federation has revealed that it will begin the implementation of its proposed excise duties on telecommunication services and beverages in 2023. Source Punch Read More

PROSHARE MARKETS

What to Expect from the Markets this Week - 080822 - While announcing an $8.5bn fund to support education and agriculture in Nigeria, the World bank’s Country Director in Nigeria on Thursday called on the Federal Government to remove the Subsidy on Premium Motor Spirit (PMS) and to reallocate resources to more productive ends such as Health and Education. Source Proshare Content Read More

PROSHARE BUSINESS

Court Orders Sonny Odogwu’s Estate to pay Access Bank N26bn Judgement Debt - Justice Daniel Osiagor of the Federal High Court, Lagos on Friday, upheld the N26bn debt claim by Access Bank Plc against the estate Chief Sonny Odogwu, the late Ide Ahaba and erstwhile chairman of SIO Group. Source The News Matrics Read More

Fraud, Ponzi Schemes and Terror Financing: A Story About Banking in Nigeria - In May 2022, shortly after my story about Chinese loan sharks in West Africa went up, a number of new tips and leads started trickling in. It looked at first, as though a follow-up story would emerge, focusing on how some Nigerian banks still offer banking services to illegal loan sharks despite CBN regulations expressly forbidding this. Source West Africa Weekly Read More

Banks Shun Lending to Real Sector as Deposit with CBN Surge by 12% - Despite the 65 per cent Loan-to-Deposit (LDR) ratio policy of the Central Bank of Nigeria (CBN) which was aimed at forcing the hands of financial institutions to lend to the real sector of the economy, banks’ deposits with the CBN has continued to witness exponential growth hitting 12 per cent Year-on-Year (YoY) as at end July this year. Source THISDAYLIVE Read More

‘Desist or Risk Arrest’– EFCC Vows to Clamp Down on FX hoarders in Lagos, Kano - Abdulrasheed Bawa, chairman of the Economic and Financial Crimes Commission (EFCC), says the agency will go after persons and organisations hoarding foreign currencies, especially dollars, across the country. Source TheCable Read More

PROSHARE TECHNOLOGY

NCC Takes Telecom Infrastructure Protection Advocacy to the Grassroot - The advocacy for telecom infrastructure protection across the country by the Nigerian Communications Commission, (NCC) has received royal blessings and support of the Olubadan of Ibadan, Oba Lekan Balogun, who has urged every citizen in Nigerian to take responsibility for the protection of telecom facilities for mutual benefit of all. Source TechEconomy Read More

PROSHARE FINANCE

Institutionalization of Zakat, Waqf Could Encourage Nigerian Economic Growth - The Institutionalization of Islamic Social finance instruments like Zakat and Waqf will play a vital role in promoting inclusive economic growth in Nigeria. Source Bukola Akinyele-Yisau Read More

Insurers Express Concerns About Rising Operating Costs - Chief executive officers of insurance companies have expressed concern about the rising cost of operations, including the surging price of diesel, saying it negates operational efficiency. Source The Guardian Nigeria Read More