PROSHARE ECONOMY

Nigeria’s Crude Oil Production Drops to 0.97mbpd in August 2022 - The Nigerian 2022 fiscal budget suffers further shock as crude oil production contracted to an all-time low of 0.972mbpd in August 2022. Based on data from the National Upstream Petroleum Regulatory Commission (NUPRC), crude oil production fell m/m by 11.47% to 0.972mbpd in August from 1.08mbpd in July 2022. Source CSL Research Read More

CO2CRC Welcomes Sahara Group as the Latest Member of CO2CRC - Africa’s largest private power business, Sahara Group, has become a member of the leading global carbon capture, utilisation and storage (CCUS) research organisation, CO2CRC. Source Sahara Group Read More

MegaThreats: Ten Dangerous Trends That Imperil Our Future, And How to Survive Them Hardcover – October 18, 2022 - Renowned economist Nouriel Roubini was nicknamed “Dr. Doom,” until his prediction of the 2008 housing crisis and Great Recession came true--when it was too late. Now he is back with a much scarier prediction, one that we ignore at our peril. Source Amazon Read More

NESG Reschedules Economic Summit - The Nigerian Economic Summit Group said it has rescheduled its 28th summit one month. It said in a statement that the summit scheduled to take place in October had been shifted to November. Source Punch Read More

PROSHARE MARKETS

Investors Lose N12.62bn as NGXASI Dips by 0.05%; Overnight Rate Expands by 1.92% to Close at 13.17%; BDC Rate Appreciates to N712 - The NGX All-Share Index declined by 0.05% to close at 49,421.91 basis points as against 0.01% gain recorded previously to close at 49,445.31 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records N12.62bn loss. YTD, the NGXASI Stands at +15.70%. Source Proshare Research Read More

NGX Group Reiterates Commitment Towards Upholding Corporate Governance - The Nigerian Exchange Group Plc., (NGX Group or The Group) has maintained that it will continue to uphold the highest corporate governance standards and remains on course with its long-term strategy to provide competitive returns for its investors. Source NGX Read More

Gbajabiamila:   Efficient Operation of Capital Market Key to National Development - Capital markets have been described as avenues for an increase in values of assets and wealth creation whose proper and efficient operation is essential to sustainable national economic growth. Source ThisDay Read More

Banks Tinker with FX Sale Templates, Set New Operating Rules - Deposit money banks (DMBs) are tweaking subsisting services, internal processes and operational guidelines to ease foreign exchange demand pressure. Source The Guardian Nigeria Read More

Forex Scarcity: Banks Suspend International Transactions on Naira Debit Cards - Nigerians will not be able to use their Naira debit cards for international transactions as scarcity of foreign exchange (forex)worsens in Africa’s largest economy and biggest oil exporter, Daily Trust learnt. Source Daily Trust Read More

PROSHARE BUSINESS

ALAT Simplifies Payments and Collections with new NQR Feature - ALAT, Nigeria's leading digital banking platform has again raised the bar in service delivery by including a new quick response (QR)-code-based payments and collections solution to boost convenient and safe financial transactions. Source Wema Bank Read More

PROSHARE TECHNOLOGY

Africa is Adapting Faster to 5G Network - Data compiled by Ecofin Agency show that in sub-Saharan Africa, 5G adoption has been growing rapidly since 2018. Furthermore, the data reveals that as of September 15, 2022, twelve telecom operators in ten markets are already marketing mobile services backed by ultra-high-speed technology. Source Broadcast Media Africa Read More

Access Corporation Receives Central Bank of Nigeria’s Approval of a Payment Company - Access Holdings Plc trading as Access Corporation (‘the Corporation’) announces that it has received the Central Bank of Nigeria’s final approval for its wholly owned payment subsidiary, Hydrogen Payment Services Company Limited (‘Hydrogen’). Source NGX Read More

RPA Revolutions in the Financial Services Industry – See What Robots are Doing - Organisations now use RPA technology to change the dynamics and drive automation in their processes to keep up with the rapidly evolving technological landscape. Source Philips Consulting Read More

Binance Goes on Francophone Africa Tour to Drive Crypto Education - Over the years, cryptocurrency adoption in Africa has put the continent in global lights. Crypto adoption in Africa grew by 1200% between July 2020 and June 2021, making Africans the fastest adopters of Crypto in the world. Source Tech Cabal Read More