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Nigeria in 1min: Economic, Business and Financial Headlines - 230123

Jan 23, 2023   •   by   •   Source: Proshare   •   eye-icon 343 views

PROSHARE ECONOMY

Confronting Fragmentation Where It Matters Most: Trade, Debt, and Climate Action - As policymakers and business leaders gather at the World Economic Forum in Davos, they are facing a Gordian knot of challenges. Source IMF Read More

FG Denies Hike in Petrol Price - The Federal Government has denied any increase in the price of Premium Motor Spirit popularly called petrol, despite the hike in the cost of the commodity across the country. Source Punch Read More

Governors Not Opposed to Naira Redesign, Seek Engagement with CBN - Governors of the 36 states under the aegis of the Nigeria Governors’ Forum (NGF) have said they are not opposed to the naira redesign policy by the Central Bank of Nigeria (CBN). Source ThisDay Read More

 

PROSHARE MARKETS

Access Bank 9M 2022 Result: High Operating Costs Cripple Profitability, But Gross Earnings Remain Strong - A rise in operating expenses has taken a bite out of Access Bank’s profitability as business costs grow steadily. This affected bottom-line earnings, leading to a slower +9.05% profit before tax (PBT) growth. Source Proshare Research Read More

Ecobank Transnational Incorporated 9M 2022 Result: Tight Cost lid raises Net income by +17.4% - Ecobank Transnational Incorporated (ETI) delivered double-digit growth in revenue and after-tax incomes in 9M 2022. The top and bottom-line earnings grew by +10.08% and +17.4%, driven by growth in digital income, investment earnings, and net interest income. Source Proshare Research Read More

What to Expect from the Market - 230123 - According to the National Bureau of Statistics (NBS) CPI report, Inflation fell as expected by 13 basis points (bp) to 21.34% in December. Analysts chalked up the slight tumble to price resistance on the part of consumers who demanded less food and discretionary items than they usually would in the festive period. Source Proshare Research Read More


PROSHARE BUSINESS

Acting AGF, Anamekwe Nwabuoku under Probe for Corruption - The newly appointed overseer of the Office of the Accountant General of the Federation (OAGF), Anamekwe Nwabuoku, has a heavy corruption dossier and is being investigated by the Economic and Financial Crimes Commission (EFCC), Economic Confidential can authoritatively report. Source Economic Confidential Read More

DisCos blame low power supply in parts of Nigeria on ‘insufficient load allocation’ - Electricity distribution companies (DisCos) in the country say customers will experience a reduction in power supply for an indefinite period. This is contained in separate statements issued on Saturday by Kano, Abuja, and Ikeja electricity distribution companies (KEDCO, AEDC, and IKEDC). Source TheCable Read More

Largest Container Vessel Berths at Lekki Port Ahead Of Commissioning By Buhari - Ahead of the commissioning of the Lekki Deep Seaport by President Muhammadu Buhari on Monday, the largest container vessel has berthed at the port. Source Leadership Read More

 

PROSHARE TECHNOLOGY

Musk Says Higher Priced Twitter Subscription Won't Carry Ads - Twitter owner Elon Musk tweeted on Saturday that a higher priced subscription of the social media platform will not carry advertisements. Source Reuters Read More

 

PROSHARE FINANCE

The New Bankers to the World Aren’t on Wall Street - Middle East sovereign funds spent almost $89 billion globally last year, with dealmakers using their wealth to diversify their economies and win geopolitical influence. Source Bloomberg Read More

No Going Back On Cash Withdrawal Limit – NFIU - The Nigerian Financial Intelligence Unit has said it is acting within the confines of the law concerning the guidelines on cash withdrawals from all government accounts. Source Punch Read More

 


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