PROSHARE ECONOMY

The Realities that Put our Exchange Rate Under Pressure Also Presents Opportunities – Kingsley Obiora - Good morning your royalties and eminences, the Chancellor, the Pro-Chancellor, the Vice Chancellor, other principal officers of the university, my colleagues from the Central Bank of Nigeria, distinguished guests, graduands, current students, ladies, and gentlemen. Source Kingsley Obiora Read More

African Development Bank Invests $20m in Private Equity Fund Targeting Renewable Energy Projects in Sub-Saharan Africa - The Board of Directors of the African Development Bank Group approved an equity investment of $20 million in Evolution Fund III, a pan-African clean and sustainable energy private equity fund that is mobilising about $400 million into renewable energy and resource-efficiency assets across sub-Saharan Africa over a 10-year period. Source AfDB Read More

Nigeria’s Poverty Exceeds World Bank Projection, Five States Lead - The National Bureau of Statistics has disclosed that 133 million Nigerians are multi-dimensionally poor. In its latest National Multidimensional Poverty Index report launched on Thursday, the NBS said that 63 per cent of Nigerians were poor due to a lack of access to health, education, living standards, employment and security. Source Punch Read More

DMO to FG: Prioritise Revenue Generation Not Increasing Borrowings - The Debt Management Office (DMO) says there is an urgent need for the federal government to moderate the rising trend of borrowings to ensure debt sustainability. Source TheCable Read More

PROSHARE MARKETS

Investors Lose N19.46bn as NGXASI Declines by 0.08%; Overnight Rate Closed Flat at 16.50%; BDC Appreciates to 790 - The NGX All-Share Index declined by 0.08% to close at 44,011.22 basis points as against 0.54% gain recorded previously to close at 44,046.94 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records N19.46bn loss. YTD, the NGXASI Stands at +3.03%. Source Proshare Research Read More

NGX, GRI, NGX RegCo Foster Nigeria’s ESG Goals, Build Capital Market Capacities - Nigerian Exchange Limited (“NGX” or “The Exchange”) through its X-Academy, collaborated with NGX Regulation Limited (NGX RegCo) and Global Reporting Initiative (GRI), on a capacity building session in sustainability reporting and Environmental, Social and Governance (ESG) disclosures for listed corporates. Source NGX Read More

A Better Outing for the DMO in November 2022 - The Debt Management Office (DMO) had a more successful outing at its most recent primary auction of FGN Bonds conducted this Monday compared with its last auction in October. Source FBNQuest Read More

PROSHARE BUSINESS

CEO Remuneration 2022: Querying CEO's Share of Revenue in the World's Largest Companies - Looking at the dynamics of CEO Pay from the lens of global corporations, we specifically consider how CEO remuneration has responded to changes in firms' revenue due to global inflation. The financials of the world’s leading firms suggest that turnover rose during an evolutionary phase emerging after the epoch crises of COVID -19, which led to the global socioeconomic system of various actors at all levels adapting to an irreversible work mode. Source Proshare Research Read More

CBN: Banks Granted N28.12tr Loans to Businesses In 12 Months - Banks loans to businesses stood at N28.12 trillion in the last one year, Central Bank of Nigeria (CBN) Deputy Governor, Financial System, Stability, Mrs. Aisha Ahmad, has said. Source The Nation Read More

A Market Watcher’s Guide to the Collapsed Binance-FTX Deal - Crypto’s richest executive has shocked the market twice in just a few days. On Tuesday, Binance founder Changpeng “CZ” Zhao announced an unexpected move to take over FTX.com, the troubled firm led by his chief rival and onetime disciple, Sam Bankman-Fried. Source Bloomberg Read More

PROSHARE TECHNOLOGY

NCC Commends Ondo Govt Broadband Plan Through Odua Infraco, Sets Up Committee - The Nigerian Communications Commission (NCC) has commended the Government of Ondo State for its commitment to deployment of broadband infrastructure through the Odua Infraco, urging other states to come on board the efforts to make the service available to their citizens. Source Sun Read More

Zuckerberg Says Whatsapp Business Chat Will Drive Sales Sooner Than Metaverse - Meta Platforms Inc (META.O) Chief Executive Mark Zuckerberg told employees on Thursday that WhatsApp and Messenger would drive the company's next wave of sales growth, as he sought to assuage concerns about Meta's finances after its first mass layoffs. Source Reuters Read More