PROSHARE ECONOMY

CBN MPC Raises MPR to 15.5% and CRR to 32.5% at the End of September 2022 MPC Meeting - The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has today concluded its two-day meeting in September 2022. It will be recalled that the MPC hiked the MPR at the end of its third meeting of the year in May 2022 to 13% from 11.50% and to 14% in July 2022. Source Proshare Content Read More

Revenue Generation: FG to Adopt PPP Solution for Excise Duty, Tax Collection - The federal government says it is set to deploy an integrated secure track and trace solution to boost revenue earnings through excise and tax collection. Source TheCable Read More

CBN: We’ve Disbursed N66bn for Projects in Manufacturing, Agricultural Sectors - The Central Bank of Nigeria (CBN) says it released the sum of ₦66.99 billion for 12 projects in the manufacturing and agricultural sectors. Source TheCable Read More

How OPEC+ Could Send Oil Prices Soaring Again - OIR 270922 - Things are still looking bearish for crude, with WTI still trading below the 80 per barrel mark, but a number of bullish catalysts could offer support. Hurricane Ian, was touted to become the next menace of oil production and refining in the U.S. Gulf of Mexico.  Source Oilprice Read More

PROSHARE MARKETS

Investors Lose N15.03bn as NGXASI Dips by 0.06%; Debt Market Size Grows by 0.03% to Close at N29.32trn; BDC Rate Depreciates to N722 - The NGX All-Share Index declined by 0.06% to close at 49,161.45 basis points as against 0.33% gain recorded previously to close at 49,189.32 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records N15.03bn loss. YTD, the NGXASI Stands at +15.09%. Source Proshare Research Read More

Recession and Rising Rates Threaten EMEA Leveraged Credits - Fundamental credit profiles of European high-yield bond and loan issuers appear set to deteriorate as monetary policy tightening accelerates and the gas crisis results in recession, Fitch Ratings says in its latest European leveraged credit ‘At-Risk’ report. Source Fitch Ratings Read More

PROSHARE BUSINESS

New Senate Bill Seeks CBN Gov’s Removal as Board Chairman - The Senate yesterday passed for second reading, a bill which seeks to remove the Governor of the Central Bank Nigeria (CBN) as Chairman of the board of the apex bank. The CBN Act No. 7 of 2007 makes any incumbent Governor of the bank to also serve as Chairman of its Board. Source THISDAYLIVE Read More

LCCI, MAN Worry as CBN Raises Lending Rate to 15.5% - In a move to tame raging inflation in Nigeria, currently at 20.52 percent, the Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, on Tuesday announced a hike in the Monetary Policy Rate (MPR) (lending rate) 150 basis points from 14 to 15.5percent. Source Sun Read More

Money supply Rises to N49.36trn Amid Federal Government Borrowing - The Central Bank of Nigeria (CBN) in its money and credit statistics has revealed that money supply (M3) in the economy has increased to N49.36 trillion as of August 2022, a 9.21 per cent increase or N4.16 trillion Year-till-Date (YtD) when compared with the N45.19 trillion reported in January 2022. Source ThisDay Read More

The Legal Implications of Sampling Music Under Nigerian Law - In 2019, Ajibola Muyiwa Danladi, popularly known as ‘Danny Young’ brought copyright infringement proceedings against Tiwa Savage and her then record label, Mavin Records, on the grounds that Tiwa Savage allegedly lifted lyrics from his ‘Oju Tiwon’ song and used same in her 2018 song ‘One’. Source Banwo & Ighodalo Read More

PROSHARE TECHNOLOGY

NCC Deploys 84 IT Projects to Support Persons with Disabilities - The Nigerian Communications Commission (NCC) has deployed 84 assistive Information Technology projects at different locations in Nigeria to support people with special needs while supporting policies that enable disadvantaged members of the society to live a more qualitative life. Source NCC Read More

NCC Advises Zoom Users to Update Software After Vulnerabilities Found - The Nigerian Communications Commission's Computer Security Incident Response Team (NCC-CSIRT) has advised users of the video telephony platform, Zoom, to install the latest update of the software from its publisher’s official website following the discovery of vulnerabilities that allows a remote attacker to exploit the app. Source NCC Read More

Sanwo-Olu Calls for Prioritisation of Technological Advancement - Lagos State Governor, Babajide Sanwo-Olu, has called for the prioritisation of technological and innovative advancement. The governor, represented by his Chief Press Secretary (CPS), Gboyega Akosile, emphasised the role of creative thinkers and planners in driving growth and development. Source Guardian Read More

Enabling Access to Finance is One of Carbon's Biggest Achievements - Founders - The emergence of fintechs, otherwise known as digital banks, in recent years, has changed the dynamics of banking. Traditional banks had no option but to embrace technology and innovate because fintechs were disrupting the market. Source Carbon Read More

PROSHARE MSME

NBCC and Business Regulators Support the Scaling of Nigeria's MSMEs - Nano, Micro, Small & Medium Enterprises on Thursday, September 22, 2022, gathered at the Ultra-modern Plaza of the Nigerian-British Chamber of Commerce (NBCC) in Lekki, Lagos, for the MSME Business Optimisation Clinic. Source NBCC Read More