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Nigeria in 1min: Economic, Business and Financial Headlines - 250123

Jan 25, 2023   •   by   •   Source: Proshare   •   eye-icon 309 views

PROSHARE MARKETS

Investors Lose N24.59bn as NGXASI Depreciates by 0.09%; Overnight Rate Contracts to Close at 10.17%; BDC Rate Appreciates to N750 - The NGX All-Share Index declined by 0.09% to close at 52612.55 basis points as against a 0.12% gain recorded previously to close at 52657.69 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records a N24.59bn loss. YTD, the NGXASI Stands at +2.66%. Source Proshare Research Read More

Ahead of Next T-Bills Auction Scheduled for 25th January 2023 - The Central Bank of Nigeria (CBN) will hold a Treasury Bills (T-Bills) Primary Market Auction (PMA) on the 25th of January, 2023. At the PMA, existing T-Bills totalling NGN220.53bn (NGN1.74bn, NGN1.26bn and NGN217.53bn across the 91-day, 182-day, and 364-day instruments, respectively), will mature and be rolled over. Source Meristem Research Read More

The Markets in Review: The Return of Risk is Good for Nigeria – Coronation Research - Across the world equity and bond markets are rising, risk is back in vogue. The great shake-out that characterised 2022 is either over or is coming to an end. Source Coronation Research Read More

 

PROSHARE ECONOMY

CBN Communiqué No. 146 of the MPC Meeting – Jan 23-24, 2023 - The Monetary Policy Committee (MPC) held its first meeting for 2023 on the 23rd and 24th January 2023, as optimism of a rebound in global output recovery waned considerably, giving room for increased concerns of a likely global recession in 2023. Source Central Bank of Nigeria Read More

GCR Assigns AAA(NG) Rating to MTN Nigeria Communications Plc’s N115bn Series 1 (Tranche A and B) Senior Unsecured Bond Issue; Outlook is Stable - GCR Ratings (“GCR”) has assigned a national scale long-term Issue rating of AAA(NG) to MTN Nigeria Communications Plc’s N115bn Series 1 (Tranche A & B) Senior Unsecured Bonds. The Outlook on the rating is Stable. Source GCR Ratings Read More

GCR Assigns FCMB Group Plc National Scale Issuer Ratings of BBB+(NG)/A2(NG); Outlook Stable - GCR Ratings (“GCR”) has assigned FCMB Group Plc national scale long and short-term issuer ratings of BBB+(NG) and A2(NG) respectively, with a Stable Outlook. Source GCR Ratings Read More

Old Naira Notes: Senate Urges CBN to Extend Deadline to July 31 - The Senate on Tuesday appealed to the Central Bank of Nigeria (CNN) to extend the deadline for the exchange of old naira notes from January 31 deadline to July 31, 2023. Source ThisDay Read More

 

PROSHARE REGULATORS

CBN MPC Raises MPR to 17.50% at the End of January 2023 MPC Meeting - The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has today concluded its two-day meeting for January 2023. Source Proshare Research Read More

 

PROSHARE BUSINESS

Emefiele, CBN And Our Future - At some point later today, January 24, the Governor of the Central Bank of Nigeria, Godwin Emefiele is bound to be back in the news as the CBN’s Monetary Policy Committee (MPC) concludes its 289th meeting and offers its position on the future direction of the country’s macro-economic environment. Source Reuben Abati Read More

Caverton Appoints Adesuntola Moses Olusegun as New Chief Financial Officer - The Board of Directors of Caverton Offshore Support Group Plc (COSG) has approved the appointment of Mr. Adesuntola Moses Olusegun as the new Chief Financial Officer (CFO) of COSG effective from 11th January 2023. Source NGX Read More

Adani Group: How the World’s 3rd Richest Man Is Pulling the Largest Con In Corporate History - Today we reveal the findings of our 2-year investigation, presenting evidence that the INR 17.8 trillion (U.S. $218 billion) Indian conglomerate Adani Group has engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades. Source HindenBurg Research Read More

 

PROSHARE TECHNOLOGY

Aramco-Backed Fintech Opens Bank Branch in London to Help Muslims Invest - An investing platform backed by the likes of oil giant Saudi Aramco and French soccer player Paul Pogba is launching a novel proposition in the U.K.: a physical branch and bank accounts backed by gold. Source CNBC Read More

 

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