Lagos State Government Issues Public Notice on the Chargeability of Capital Gains Tax on Gains from the Disposal of Securities - Gains accruing from the disposal of financial securities of Nigerian Government securities, stocks and shares have enjoyed an exemption from capital gains tax, pursuant to section 30 of the Capital Gains Tax Act (CGTA). Source Lagos State Government Read More

Kerosene, Gas Prices Rise 88% in One Year – NBS - Primary cooking fuels, kerosene and Liquefied Petroleum Gas, otherwise referred to as cooking gas, recorded an 88 per cent price increase within in one year. Source Punch Read More

MOMAN: FG Must Deregulate Downstream to Address Fuel Supply Challenges - As petrol scarcity in Lagos, Abuja, and other cities persists, petroleum products marketers under the aegis of Major Oil Marketers Association of Nigeria (MOMAN) have said the most viable solution to the supply and distribution challenges is full deregulation of the downstream oil and gas sector. Source THISDAYLIVE Read More

PROSHARE MARKETS

Investors Gain N130.21bn as NGXASI Inches Up by +0.47%; Overnight Rate Contracts by 0.12% to Close at 14.00%; BDC Rate Depreciates to N614 - The NGX All-Share index inched up by +0.47% to close at 51,618.73 basis points as against +0.57% gain recorded at the end of the previous trading session. In Naira terms, the NGX Market CAP records N130.21bn gain. YTD, the NGXASI Stands at +20.28%. Source Proshare Research Read More

Domestic and Foreign Portfolio Participation in Equity Trading – May 2022 - On a monthly basis, Nigerian Exchange Limited (“NGX”) polls trading figures from market operators on their Domestic and Foreign Portfolio Investment (FPI)4 flows. As at 31 May 2022, total transactions at the nation’s bourse increased by 195.05% from N205.88billion (about $494.26million) in April 2022 5 to N607.45billion (about $1.45billion) in May 20226. Source NGX Read More

PROSHARE BUSINESS

Boris Johnson Announces 'Preferential Trade System' for 65 Developing Countries - British prime minister Boris Johnson says his country will support the development of clean energy among Commonwealth nations, announcing a package with a potential to create over 180 000 jobs and cut carbon emissions. Source Africa News Read More

Fuel Scarcity: Marketers Rally Against NNPC’s Monopoly - Oil marketers have urged the Federal Government to put an end to the monopolistic privilege enjoyed by the Nigerian National Petroluem Corporation, NNPC. Source Punch Read More

NLNG Commits to Supplying all LPG Produced for Domestic Market - Nigeria LNG Limited has reiterated its commitment to 100 per cent of its Liquefied Petroleum Gas (LPG) production to the domestic market to support the growth of LPG utilisation in the country and help reduce the health, safety and environmental risks associated with the use of other domestic fuel sources. Source The Guardian Nigeria Read More

PROSHARE TECHNOLOGY

More African Central Banks Are Exploring Digital Currencies - Several sub-Saharan African central banks are exploring or in the pilot phase of a digital currency, following Nigeria’s October introduction of e-Naira. Nigeria was the second country after the Bahamas to roll out a CBDC. Source IMF Read More

Reps Demand Integration of NIN to Identify Gaming Customers, Prevent Money Laundry - The House of Representatives has called on the National Lottery Regulatory Commission to ensure that all gaming operators in the country integrate the National Identity (NIN) in their data collection. Source Daily Trust Read More

Mobile Broadband Penetration Hits 83.37m as Impact of Ban on New Sim Wanes - After a drop in mobile broadband penetrating to as low as 75.57 million subscriptions, equivalent to 39.59 per cent penetration in May 2021, following the ban on new sim registration by the federal government, Nigeria’s broadband penetration picked up again, one year after, to reach 83.37 million subscriptions, equivalent to 43.67 per cent penetration in May 2022. Source THISDAYLIVE Read More

PROSHARE FINANCE

Pension Assets Rise 0.7% to N14.2trn - Total Pension Fund assets of the Contributory Pension Scheme, CPS, increased by 0.71 percent Month-on-Month, MoM, to N14.2 trillion in May 2022 from N14.1 trillion recorded in April 2022. Source Vanguard Read More