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Nigeria in 1min: Economic, Business and Financial Headlines - 231122

Nov 23, 2022   •   by   •   Source: Proshare   •   eye-icon 439 views

PROSHARE ECONOMY

CBN MPC Raises MPR to 16.50% at the End of November 2022 MPC Meeting - The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has today concluded its two-day meeting for November 2022. Source Proshare Research Read More

COP27: We are Driving the Delivery of Nigeria’s Net-Zero Promise – Oando Plc - With the successful conclusion of the 27th United Nations Climate Change Conference of the Parties (COP27) themed 'delivering for the people and the planet', one message revibrates across the globe - climate pledges must be matched with action. Source Oando Plc Read More

Buhari Kick-starts Oil Drilling in North as $3bn Kolmani River Oil Wells Takes Off - Prominent Nigerians, including President Muhammadu Buhari, a retinue of governors from the northern region, ministers, the presidential candidate of the All Progressives Congress (APC), Bola Tinubu and oil industry operators yesterday expressed optimism over the opportunities presented by the drilling of first oil in the north. Source ThisDay Read More

UN to Vote on New Tax Convention Proposed by African States - Developing nations are hoping to secure greater power over global tax affairs at a critical United Nations vote in New York on Wednesday. Source The Guardian Read More

KPMG has been blocked from winning new audit contracts in Abu Dhabi - Regulators have removed Big Four firm KPMG from the list of accountants authorised to sign off companies’ financial statements. Source FT Read More

 

PROSHARE MARKETS

Investors Gain N145.08bn as NGXASI Advances Further by 0.60%; Overnight Rate Expanded by 0.75% to Close at 17.25%; BDC Appreciates to 775 - The NGX All-Share Index advanced by 0.60% to close at 44,662.96 basis points as against 0.38% gain recorded previously to close at 44,662.96 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records N145.08bn gain. YTD, the NGXASI Stands at +5.18%. Source Proshare Research Read More

Ahead of Next T-Bills Auction Scheduled for 23rd November 2022 - The Central Bank of Nigeria (CBN) will hold a Treasury Bills (T-Bills) Primary Market Auction (PMA) on the 23rd of November 2022. At the PMA, existing T-Bills totalling NGN212.82bn (NGN2.28bn, NGN1.25bn and NGN209.29bn across the 91-day, 182-day, and 364-day instruments, respectively), will mature and be rolled over. Source Meristem Read More

 

PROSHARE BUSINESS

Fidelity Bank Showcases the Best of Nigerian Non-Oil Exports at FITCC - In what has been termed the largest trade exhibition by Nigerian-based businesses in the United Kingdom in recent times and a major move in increasing Nigeria’s foreign exchange earnings, leading financial institution -Fidelity Bank Plc hosted the maiden edition of its international trade expo. Source Fidelity Bank Read More

NPA Targets Full Automation of Ports Operation by 2024 - The Managing Director of, the Nigerian Ports Authority (NPA), Mohammed Bello-Koko, has said the agency is working towards a fully-automated port system, where the vehicular and human interface will be reduced by 2024. Source Guardian Read More

Neiti Advocates PIA Implementation To Improve Oil Earnings - The Nigeria Extractive Industries Transparency Initiative (NEITI) yesterday, in Abuja, said the successful implementation of the Petroleum Industry Act (PIA) remains sacrosanct in boosting the country’s oil earnings. Source Guardian Read More

Nigeria, Canada to Improve Bilateral Relations on Trade, Energy Transition - Nigeria and the Canadian government are set to deepen bilateral relations on energy transition, trade, climate change and education. Source TheCable Read More

 

PROSHARE TECHNOLOGY

NBCC Deploys Tech as a Tool in the Fight Against Unemployment - Given the significant opportunities, it offers in the face of the staggering unemployment rate in the country, the phrase "tech is the new oil" is on the lips of many. Driven to bridge the knowledge gap and equip young people with requisite tech skills, the Nigerian-British Chamber of Commerce graduated its first set of students - Cohort 1.1 from the NBCC Tech Academy on Tuesday, November 15, 2022. Source NBCC Read More

Africa’s Growing Crypto Market Needs Better Regulations - The collapse of the world’s third largest crypto exchange FTX, and subsequent plunge in the prices of Bitcoin, Ethereum, and other major crypto assets, is prompting renewed calls for greater consumer protection and regulation of the crypto industry. Source IMF Read More

Microsoft Explains how Africa’s Financial Landscape is Changing due to Digital Banking - According to Ola Williams, the Country Manager of Microsoft Nigeria, the financial sector on the African continent is accelerating its digital transformation agenda in an effort to provide customers with a unique customer experience, which is promoting economic development on the continent. Source Tech Economy Read More

 

PROSHARE FINANCE

36 million Nigerians Lack Access to Financial Services – CBN - The Director of Information Technology at the Central Bank of Nigeria, Rakiyat Mohammed, has said that about 36 million Nigerians currently have zero access to financial services. Mohammed, who spearheaded the development and deployment of the eNaira, stated this on Tuesday during the Zenith Bank Tech Fair which was held in Lagos. Source Punch Read More

 

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