PROSHARE ECONOMY

Nigeria’s Banking Industry: Hanging to the Coattails of Commercial Banks are Payment Solution Enablers - Financial system stability has gone through several iterations. The CBN has adopted different banking models to grow the sector with minimal challenges to the quality of loan assets, overall liquidity and size of deposits. Source Proshare Read More

Headline Inflation to Continue its Increase to 17.72% in the Month of May 2022 - The National Bureau of Statistics will publish its CPI report for the month of May next week. Our econometric model and market survey suggests a 0.9% increase in headline inflation to 17.72% in May. Source FDC Ltd Read More

Stagflation Risk Rises Amid Sharp Slowdown in Growth - Compounding the damage from the COVID-19 pandemic, the Russian invasion of Ukraine has magnified the slowdown in the global economy, which is entering what could become a protracted period of feeble growth and elevated inflation, according to the World Bank’s latest Global Economic Prospects report. Source World Bank Group Read More

Nigeria Spends N896.7bn on Debt Servicing in Q1’22 - Nigeria spent N896.7 billion on domestic and foreign debt servicing in the first quarter of 2022, Q1’22, representing a 12 per cent year-on-year (YoY) decline from N1.02 trillion spent in the corresponding period of 2021. Source Vanguard Read More

PROSHARE MARKETS

Investors Lose N12.53bn as NGXASI Dips by -0.04%; Debt Market Size Grows by 0.18% to N27,42trn; IEFX Rate Depreciates to N422.50 - The NGX All-Share index dipped by -0.04% to close at 53,170.73 basis points as against -0.14% loss recorded at the end of the previous trading session. In Naira terms, the NGX Market CAP records N12.53bn loss. YTD, the NGXASI Stands at +24.47%. Source Proshare Research Read More

World Investor Week Focuses on Resilience, Sustainable Finance - Global capital market regulators under the auspices of the International Organisation of Securities Commissions (IOSCO) have chosen investor’ s resilience and sustainable finance as the theme of this year’s World Investor Week (WIW). Source The Nation Read More

PROSHARE BUSINESS

Standard Bank Appoints Yewande Sadiku as Head, Investment Banking International - Standard Bank has announced the appointment of Yewande Sadiku as Head, Investment Banking, International with effect from September 12, 2022. The role is based in London. Source Proshare Research Read More

Heirs Oil & Gas, ND Western to Submit Final Bid for Shell’s Onshore Assets - Heirs Oil and Gas and ND Western are competing for Shell’s 30 per cent stake in onshore consortium SPDC, whose other members are owned by the Nigerian National Petroleum Company (NNPC) Limited with 55 per cent, TotalEnergies with 10 per cent and Italy’s Eni with 5 per cent. Source LeadershipNG Read More

‘Nigeria Must Address Inflation, FX Challenges to Drive Renewable Energy’ - Nigeria’s target of upscaling renewable energy adoption to address the huge electricity deficit and mitigate climate challenges may become realistic if the country tackles growing inflation and foreign exchange disparities. Source The Guardian Nigeria Read More

PROSHARE TECHNOLOGY

Squad by GTCO: Reshaping the Nigerian Payment Space - Squad's top offerings will include a payment gateway and the Soft POS. While most are familiar with the functionalities of payment gateways, the Soft POS solution is as cutting-edge as simple to use. Source GTCO Read More

PROSHARE FINANCE

FIRS to Commence VAT Compliance Monitoring Exercise July 1 - The Federal Inland Revenue Service (FIRS) says it will embark on a nationwide value-added tax (VAT) and withholding tax (WHT) compliance monitoring exercise for all taxable persons from July 1. Source TheCable Read More