Business | All One Min News

Nigeria in 1min: Economic, Business and Financial Headlines - 140323

Mar 14, 2023   •   by   •   Source: Proshare   •   eye-icon 372 views


Investors Loss N3.34bn as NGXASI Dips by 0.01%; Overnight Rate Expands to 10.83%; BDC Rate Depreciates to N752 - The NGX All-Share Index declined by 0.01% to close at 55,788.37 basis points as against 0.05% loss recorded previously to close at 55,794.51 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records a N3.34bn loss. YTD, the NGXASI Stands at +8.85%. Source Proshare Research Read More

ADNOC Gas Raises US$2.5bn in Its IPO Debut on ADX, Abu Dhabi - Abu Dhabi National Oil Company Gas subsidiary took a significant leap in its operations, as it made a remarkable debut on the United Arab Emirate’s biggest stock market. ADNOC Gas raised $2.5bn in the largest ever initial public offering, IPO in the ADX exchange and the largest for the year 2023 so far. Source MENA FN Read More

United Bank for Africa Plc to Publish Audited Financial Statement After CBN Approval - This is to inform Nigerian Exchange Limited (NGX), our esteemed shareholders and the general public that following the approval of United Bank for Africa Plc’s FY2022 Audited Financial Statements (AFS) by the Board of Directors. Source NGX Read More



Nigeria’s Inflation Resumes Uptrend as Naira Remains Relatively Flat - Nigeria’s 2022 GDP growth came in strong, though lower than 2021 print. Oil production continued its recovery pace, as production increased. Inflation resumed its uptrend, printing higher in January 2023. The Naira was relatively flat in February 2023. Source Comercio Partners Capital Ltd Read More

Emefiele Finally Bows to Pressure, Says Old Naira Notes Legal Tender - Exactly 10 days after the Supreme Court judgement mandating the use of old N,1000 and N500 notes as legal tender till December 31, 2023, the Central Bank of Nigeria Governor, Godwin Emefiele, on Monday bowed to pressure and officially ordered commercial banks to comply with the court verdict. Source Punch Read More

Naira Scarcity: NLC Threatens Strike, Gives FG Seven-Day Ultimatum - The leadership of the Nigeria Labour Congress has issued a seven-day ultimatum to the Federal Government to end the naira scarcity in the country. The labour union threatened to go on strike if the issue was not resolved at the expiration of the ultimatum. Source Punch Read More



CBN Keeps Mum on Recirculation of Old N200, N500 and N1000 Bank Notes till Dec 31,2023 - Professor Chukwuma Soludo, the Governor of Anambra state, today issued a statement from his official twitter handle, that the Central Bank of Nigeria has directed banks to start issuing the old N500 and N1000 notes. Source Proshare News Read More

Yellen Approves Actions Enabling the FDIC to Complete Resolution of Silicon Valley Bank to Protect Depositors - We are taking decisive actions to protect the U.S. economy by strengthening public confidence in our banking system. This step will ensure that the U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth. Source Federal Reserve Read More



HSBC Acquires Silicon Valley Bank UK Limited for £1 - HSBC Holdings plc announces that its UK ring-fenced subsidiary, HSBC UK Bank plc, is acquiring Silicon Valley Bank UK Limited (SVB UK) for £1. Source HSBC Holdings Plc Read More

FMN Women’s Network Celebrates International Women’s Day 2023 With Outreach to Empower Female Students - Flour Mills of Nigeria (FMN) a leading player within the FMCG industry and the owner of the iconic brand Golden Penny in commemoration of International Women’s Day 2023, held an outreach at United Christian Secondary School in Apapa, Lagos through Flour Mills of Nigeria Women’s Network. Source Flour Mills of Nigeria Read More

BREAKING: Federal government shuts Lagos International Airport for eight weeks - The federal government announced a plan to shut the runway at the Murtala Muhammed International Airport (MMIA) in Ikeja, Lagos State, for eight weeks.. Source intelregion Read More



Analysts Note: Silicon Valley Bank (SVB): Lessons for the CBN, Tech Start-Ups, and Nigerian Banks - Since its inception in 1983, Silicon Valley Bank (SVB) had as its major clients, tech start-ups. Many founders obtained their first business loans from SVB. However, the fact that the bank’s exposure was large to Tech companies whose profitability was sensitive to rising interest rates meant that the consistent rate hikes undertaken by the Federal Reserve’s Bank (Fed) would force the bank’s clients to withdraw from their accounts to meet their liquidity needs. Source Proshare Research Read More

Funke Opeke, Soukouna Coker, and Juliet Ehimuan Make the Inaugural FITC Top Women in Technology List - FITC, the world-class, innovation-led, and technology-driven knowledge institution which provides learning, advisory services, and policy advocacy to the Nigerian financial service sector and other sectors of the economy, has released a list of Top 50 Women in Tech. Source FITC Read More

Despite Naira Scarcity, E-Payment Falls to N37.67tn - Cashless transactions fell to N37.67tn in February 2023 as Nigerians had to grapple with failed and delayed cash transfers. This was a 4.83 per cent fall from the N39.58tn that was recorded in January according to new data from the Nigeria Inter-Bank Settlement System on Monday. Source Punch Read More



Pension Assets Up N568.33bn in 3 Months, Total Assets Now N14.99tn - The National Pension Commission (PenCom), has said that pension assets now stand at N14.99 trillion thus witnessing N568.33 billion growth within the space of three months from September 2022 when it stood at N14.42 trillion to N14.99 trillion as at 31 December 2022. Source THISDAYLIVE Read More

Related items.

Get the App

apple-store  play-store

Connect with us

Proshare is a professional practice focused on delivering research and information services to bridge the gap between investors and markets; by delivery on credible, reliable, and timely engagements through the following areas — Impact Research, Market Intelligence, Strategic Advisory, Stakeholder Relations & Digital Media.