Friday, May 20th, 2022 / 6:00 AM / By News Aggregator / Header Image Credit: Presidency Nigeria

PROSHARE ECONOMY

Inflation Climbs to 16.82%, Highest Since August 2021 - According to the NBS report, inflation rose by 90 basis points (bp) in April rising to +16.82% from +15.92% in March 2022. The rise in CPI was expected given the rise in white oil products including Diesel (AGO, Premium Motor Spirit (PMS), and other fuels. Source by AbdulQudus Isiaka, Proshare Research Read More

Oil Marketers, Airlines Disagree Over Local JET-A1 Price - Nigerian airline operators are currently at loggerheads with oil marketers over the rising prices of JET-A1, also known as aviation fuel. While marketers have defended the price, which is as high as N600 per litre, airlines have insisted that it is too high, accusing marketers of exploitation. Source Punch Read More

Soludo Presents N170b Revised Budget, Says He Inherited Red Treasury, Pervasive Insecurity - GOVERNOR of Anambra State, Professor Chukwuma Soludo yesterday presented a revised budget of N170 billion to the state House of Assembly for approval. Source Vanguard Read More

PROSHARE MARKETS

Investors Gain N298.75bn as NGXASI Inches up by +1.05%; Debt Market Size Grows by 0.07% to N27.29trn; IEFX Rate Depreciates to N420.33 - The NGX All-Share index inched up by +1.05% to close at 53,275.49 basis points as against the -0.07% loss recorded at the end of the previous trading session. In Naira terms, the NGX Market CAP records N298.75bn gain. YTD, the NGXASI Stands at +24.72%. Source Proshare Research Read More

PROSHARE REGULATORS

Is the SEC Unconstitutional? - Article I, Section 1 of the US Constitution says: “All legislative Powers herein granted shall be vested in a Congress of the United States, which shall consist of a Senate and House of Representatives.” One way to paraphrase that is: Federal law is made by Congress. Source Bloomberg Read More

PROSHARE BUSINESS

The AfCFTA Country Business Index Report: Businesses Need to be Supported in Identifying Strategic Interests and Market Opportunities - The Agreement Establishing the African Continental Free Trade Area officially became operational in 2021, making it the cornerstone of trade integration in Africa. The objectives of the Area are to create a single, continent-wide market and to enhance competitiveness at the enterprise level. Source UNECA Read More

Customs Reviews Depreciation on Vehicle Duty, Begin E-Valuation Today - The Nigeria Customs Service has said it will review depreciation on vehicle duty as it begins the rollout of its Vehicles Identification Number platform for the electronic valuation of vehicles on Friday (today). Source Punch Read More

World Bank Commits $30bn to Address Global Food Crisis - The World Bank has said it will make $30 billion available for implementation to address food insecurity over the next 15 months. The bank disclosed this in a statement issued on Wednesday. Source LeadershipNG Read More

PROSHARE TECHNOLOGY      

MoMo Payment Service Bank (MoMo PSB) Limited Formally Commences Operations - MTN Nigeria Communications Plc (MTN Nigeria or the Company) hereby notifies the Nigerian Exchange Limited and the investing public that its Fintech subsidiary, MoMo PSB Limited, has Formally commenced commercial operations today. Source NGX Read More

WhatsApp to Launch Cloud-Based Tools, Premium Features for Businesses - WhatsApp is introducing free cloud-based API services in a push to get more businesses using the app, Meta Platforms (FB.O) CEO Mark Zuckerberg announced at the company's messaging event on Thursday. Source Reuters Read More

PROSHARE FINANCE

Jaiz Takaful Distributes N84.5m Surplus to Policyholders and Launches Mobile App - Jaiz Takaful Insurance Plc in Nigeria hosted the maiden edition of the distribution of surplus (cashback) payment of N84.5 million to participants (Policyholders) in Abuja, Lagos, and Kano in line with its commitment to promoting ethical insurance in the country.Source Bukola Akinyele-Yisau for WebTV Read More

Partnerships for Financial Education - In April 2022, a media company leveraged key partners to make on-demand mobile-based learning accessible to millions of young Africans. The model bets on the success of the entertainment platform to attract young people to take an extra step in strengthening their entrepreneurial skills. Source Carl Manlan Read More

‘Coverage for 83m Nigerians’ - Buhari Signs National Health Insurance Bill into Law - President Muhammadu Buhari has signed the National Health Insurance Authority Bill 2022 into law. The new legislation repeals the National Health Insurance Scheme Act 2004. Source TheCable Read More

PROSHARE MSME

FG Plans Award for MSMEs as Clinics Impact 600,000 Participants - The nationwide Micro Small and Medium Enterprises Clinics for Viable Enterprises have offered on-the-spot solutions to challenges confronting 600,000 small and medium scale practitioners in the country within the last five years. Source The Guardian Nigeria Read More