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Nigeria in 1min: Economic, Business and Financial Headlines - 210622

Jun 21, 2022   •   by   •   Source: Proshare   •   eye-icon 1586 views

PROSHARE ECONOMY

Tier 1 Reclassification: Understanding Nigeria's Digital Banking Playground - The share price movements of Nigerian banks listed on the Nigerian Exchange Group (NGX) trading floor huddle around a narrow price band. But higher-priced banks like Zenith Bank, GTCO, and Access Bank have seen more distinct patterns... Source Proshare Research Read More

It is Time for Nigeria to Connect Its Assets to Global Liquidity - Ayo Teriba - With the current global growth going at a flat trajectory, most countries will find it challenging to sustain growth, particularly export-revenue-dependent economies. This is why Nigeria should, as urgent, connect its assets to global liquidity. Source Ottoabasi Abasiekong Read More

Scarcity Hits Lagos, Abuja, Fuel Sells N180/litre as NNPC Cuts Supplies - Fuel queues hit major cities of Lagos, Abuja and Ogun on Monday, forcing motorists to spend hours at filling stations. In Lagos and Ogun states, The PUNCH witnessed long queues at several filling stations such as Mobil, Capital, Fatgbems, Enyo, TotalEnergies and NNPC. Source Punch Read More

Why FG Can’t Intervene in Rising Cost of Diesel, Aviation Fuel - Sylva - The Federal Government is not in a position to intervene in the rising price of diesel and aviation fuel because prices for both products are deregulated, the Minister of State Petroleum Resources, Chief Timipre Sylva has said. Source Vanguard Read More

 


PROSHARE MARKETS

Investors Lose N550.62bn as NGXASI Dips by -1.97%; Debt Market Size Closes Flat at N27.87trn; BDC Rate Depreciates to N608 - The NGX All-Share index dipped by -1.97% to close at 50,756.74 basis points as against -1.21% loss recorded at the end of the previous trading session. In Naira terms, the NGX Market CAP records N550.62bn loss. YTD, the NGXASI Stands at +18.82%. Source Proshare Research Read More

Average Yield Advanced 53bps WoW to Close at 4.66% - Last week, the Nigerian Treasury Bills (“NT-Bills”) secondary market sustained its bearish run as investors remained on the sidelines due to the Primary Market Auction (“PMA”) slated for Wednesday (15-Jun-22) and as system liquidity remained tight at the start of the four-day trading week (₦16.6bn in the negative as at Tuesday). Source Afrinvest Read More



PROSHARE BUSINESS

FBNQuest Affirms its Commitment to Stakeholders with ‘Powered by People’ Campaign - In furtherance of its commitment to supporting its clients and stakeholders with wealth management solutions that move them towards their goals, FBNQuest, the investment banking and asset management business of FBN Holdings Plc recently launched a campaign themed ‘Powered by People’. Source FBNQuest Research Read More

Current State of Tin Can Island, Apapa Ports Shows Years of Neglect, Says Minister - Gbemisola Saraki, minister of state for transportation, says it is important to mordenise the Apapa and Tin Can Island ports as the current state of the ports infrastructure signals years of neglect. Source TheCable Read More

Nigeria Withholds Repatriation of $450m Foreign Airlines’ Revenue, Says IATA - The International Air Transport Association (IATA) says Nigeria is withholding about $450 million in revenue earned by foreign airlines operating in the country. Source TheCable Read More




PROSHARE TECHNOLOGY

No 40% Telecom Tariff Hike Now, Says NCC - The Nigerian Communications Commission (NCC) has said the proposal of telecom operators for a 40 per cent end user tariff on services is not realistic this year. Source The Nation Read More

Meta Launches Digital Training for 1,500 NPOs - Meta, formerly Facebook, has launched a digital capacity building programme for 1,500 non-profit personnel across Anglophone West Africa. Source Daily Trust Read More

Afropolitan Raises $2.1 million to Build a Digital Nation - Afropolitan, a startup that wants to build a digital nation for Africans, has raised pre-seed funding of $2.1 million, according to its co-founder, Eche Emole. Source TechCabal Read More




PROSHARE FINANCE

AFRILAND Properties Partners LSDPC to Revive Falomo Towers - This is part of the initiative designed to transform the real estate industry in Lagos, Nigeria’s economic capital. The MD/CEO of AFRILAND Properties, Mrs. Uzo Oshogwe, giving her opening address, said the theme for the event, ‘A Revival of a Landmark,’ represented the plan to restore Ikoyi to its pride position as a leading location in Lagos. Source Ottoabasi Abasiekong Read More




PROSHARE MSME

Firstbank Partners With Eloy Foundation to Promote the Sustainability of Female Owned Small Businesses - In furtherance of the need to empower female business owners across the country, The ELOY Foundation, in partnership with FirstBank presents the ELOY Foundation Business Shower, created to support female entrepreneurs on their journey to building sustainable businesses. Source FirstBank Read More

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