PROSHARE MARKETS

Investors Gain N69.33bn as NGXASI Advances by 0.23%; Overnight Rate Closes Flat at 10.81%; BDC Rate Depreciates to N754 - The NGX All-Share Index advanced by 0.23% to close at 54,427.05 basis points as against a 0.13% loss recorded previously to close at 54,299.76 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records a N69.33bn gain. YTD, the NGXASI Stands at +6.20%. Source Proshare Research Read More

Neimeth International Pharmaceuticals Plc Concludes 2.37bn Rights Issue Exercise - Neimeth International Pharmaceuticals Plc (the Company) wishes to inform that following close of its Rights Issue exercise on September 15, 2022 that it has received a No-Objection from the Securities and Exchange Commission (SEC). Source NGX Read More

PROSHARE ECONOMY

IMF Executive Board Concludes 2022 Article IV Consultation with Nigeria - Nigeria’s economy has recouped the output losses sustained during the COVID-19 pandemic supported by favorable oil prices and buoyant consumption activities. Gross domestic product (GDP) adjusted for inflation has already reached its pre-crisis level and the third quarter of 2022. Source IMF Read More

Sanwo-Olu Okays 50% Reduction on BRT Fares, Others - The Lagos State Governor, Babajide Sanwo-Olu, on Wednesday, approved a 50 percent reduction on Bus Rapid Transit fares. Aside from BRT, the governor also approved a reduction of fares on other state-owned transport systems. Source Punch Read More

PROSHARE REGULATORS

Supreme Court Halts Feb 10, 2023 Naira Note Deadline; CBN and DMBs Not Party to Suit - The Supreme Court on Wednesday temporarily halted the move by the Federal Government through the Central Bank of Nigeria to ban the use of the old naira notes from February 10, 2023. Source Punch Read More

CBN Notifies of Changes to the Sanctions List and to the UN Security Council Consolidated List - The United Nations Security Council (UNSC) pursuant to paragraphs 2 and 4 of resolution 2368 (2017) had on January 16, 2023 listed Abdul Rehman Makki as being associated with ISIL or Al-Qaida and has accordingly been added to the ISIL (Da’esh) & Al-Qaida Sanctions List of individuals and entities that are subject to assets freeze, travel ban and arms embargo as set out in paragraph 1 of Security Council resolution 2610 (2021). Source CBN Read More

PROSHARE BUSINESS

Ecobank Transnational Incorporated to Hold Board Meeting on February 24, 2023 - The Board of Directors of ETI shall hold a board meeting on February 24, 2023 to consider the Annual Financial Statements for the year ended December 2022 (“Audited Annual Financial Statements”). Source NGX Read More

UBA Plc Reschedules Board Meeting to Feb 09, 2023 - In line with listing rules of the Nigerian Exchange Limited for listed companies, United Bank for Africa Plc (the Bank) hereby informs that the meeting of Board of Directors of the Bank earlier scheduled for February 13, 2023, to consider, amongst other matters, the Group Audited Accounts and Financial Statements for the year ended December 31, 2022. Source NGX Read More

Sterling Bank States True Position on the ICPC’s Allegation Cornerning its Abuja Regional Office - This report is developed for the purpose of providing the true representation of events to the narrative as expressed by the Independent Corrupt Practices Commission (ICPC) in a tweet late on Tuesday, February 7, 2023. Source Sterling Bank Read More

PROSHARE TECHNOLOGY

Microsoft Unveils New Bing With ChatGPT Powers - Microsoft has announced a new version of its search engine Bing, which incorporates the latest in artificial intelligence. The overhaul deploys OpenAI's ChatGPT technology, which has taken the world by storm since its launch last year. Source BBC Read More

Alibaba Working on A Rival ChatGPT - Alibaba, the Chinese e-commerce giant has revealed that it is working on its version of ChatGPT in an attempt to grab a share of the booming AI market. A company spokesperson who spoke with CNBC said the company is working on a ChatGPT-style of technology and it is currently being tested internally at the firm. Source Punch Read More