Monday, May 23rd, 2022 / 5:48 AM / By News Aggregator / Header Image Credit: Tony O. Elumelu, CON

PROSHARE ECONOMY

Oil Prices Under Pressure as China Considers Russian Crude - OIR 200522 - China added some downward pressure to oil prices this week when it clearly signaled its intent to buy more discounted Russian oil. Between China and India, Russia is racing to pivot towards Asia as the EU attempts to ditch its oil. Source Tom Kool of Oilprice Read More

Nigeria, Germany Sign Bilateral Agreement on Job Creation, Others - The Federal Government of Nigeria and the Republic of Germany have signed a bilateral agreement for job creation and achieving the goals of the National Development Plan (NDP) 2021-2015. Source Daily Trust Read More

Age of Scarcity Begins With $1.6 Trillion Hit to World Economy - Russia’s invasion of Ukraine and China’s Covid Zero lockdowns are disrupting supply chains, hammering growth and pushing inflation to forty-year highs. They’re the chief reasons why Bloomberg Economics has lopped $1.6 trillion off its forecast for global GDP in 2022. Source Economic Times Read More

Amid Massive Funding of Govt’s Deficits, CBN Refuses to Publish Annual Reports - In gross contravention of its own laws, the Central Bank of Nigeria (CBN) has repeatedly failed to release its annual reports showing details of its operations and financial obligations. Source Premium Times Read More

PROSHARE MARKETS

What To Expect from The Markets This Week - 230522 - According to the Central Bank of Nigeria (CBN), the total value of Nigeria’s foreign trade in Q1 2022 was $28.77bn, with imports at $14.77bn and exports at $14.01bn, thereby resulting in a trade deficit of $764.69m. Source Proshare Content Read More

PROSHARE BUSINESS

Buhari Appoints Anamekwe Nwabuoku to Oversee Accountant General’s Office - His appointment follows the ongoing investigation of Ahmed Idris, Accountant-General of the Federation (AGF) for financial impropriety by the Economic and Financial Crimes Commission (EFCC). Source BusinessDay Read More

Factbox: The Great Rebrand: Western Business Reborn in Russia Under New Names - McDonald's Corp (MCD.N) is selling its restaurants in Russia to one of its current local licensees, who will reopen the branches under a new name yet to be decided - the most high-profile rebranding so far of companies extricating themselves from Russia. Source Reuters Read More

£1.9 Million of Funds Seized - On 28 May 2021 Her Majesty's Attorney General served a forfeiture notice under Article 10 (1) of the Forfeiture of Assets (Civil Proceedings) (Jersey) Law 2018 on Lieutenant General Jeremiah Timbut Useni (Retired) seeking the forfeiture of approximately £1.9 million deposited into Jersey numbered bank accounts in a false identity between 1989 and the late 1990s. Source Gov.je Read More

PROSHARE TECHNOLOGY          

Subscribers Kick as FG Slams N90.49bn New Tax on Phone Calls - Telecommunication subscribers are kicking against a new Federal Government directive to impose a tax on telephone calls in the nation to fund free healthcare for the vulnerable. Source Punch Read More

Cyber-Attack: Enable Automatic Updates on Anti-Virus Products to Prevent Vulnerabilities, Says NCC - The Nigerian Communications Commission (NCC) says enabling automatic update features for AVAST and AVG anti-virus applications could prevent cyber vulnerabilities. Source TheCable Read More

FCCPC, NDPB Establish Joint Desk to Strengthen Data Protection - The Federal Competition and Consumer Protection (FCCPC) and the Nigerian Data Protection Bureau, NDPB, have established Joint Mutual Enforcement Desk (JED) to strengthen data protection and privacy in Nigeria. Source LeadershipNG Read More

PROSHARE FINANCE

How a No-Interest Policy Can Boost Financial Inclusion in Nigeria - The development of innovative products that are non-interest bearing will deepen the 'No-Interest' policy and boost financial inclusion in Nigeria. Mr. Lukman Ibrahim, Founder and CEO of Halal Payment Service Limited, spoke on dynamic ways to improve Nigerians' financial access. Source Bukola Akinyele-Yisau for WebTV Read More