PROSHARE ECONOMY

Lagos Shortlists Three Bidders for Construction Of $2.5bn Fourth Mainland Bridge - The Lagos state government has shortlisted three bidders for the construction of the Fourth Mainland Bridge (FMB). Ope George, special adviser to the governor on public-private partnerships (PPP), disclosed this on Saturday at a news conference in Lagos. Source TheCable Read More

CBN Insists on Jan 31st, 2023 Deadline to Phase Out Current Naira Notes - The Central Bank of Nigeria (CBN) has insisted no going back on its January 31st, 2023 deadline to phase out the old N200, N500, and N1,000 notes. Source Leadership Read More

Fuel Crisis May Linger till Christmas – IPMAN - As the fuel shortage continues to bite harder, the Southwest Chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr. Tajudeen Adigun, has warned that the scarcity might extend to the Yuletide season unless it is quickly addressed. Source Sun Read More

Abuja-Kaduna Rail Services Resume Nov 28 - The Abuja-Kaduna rail services resume operations on November 28, 2022. This is coming eight months after the service was suspended due to terrorists attacks on the line. A source within the Idu rail station disclosed this to our correspondent in Abuja on Thursday. Source Punch Read More

PROSHARE MARKETS

Proshare, NGX and Other Key Stakeholders to discuss “Online Trading in the Age of Distributed Ledger Technology (DLT): Improving Investors Trading Experience” on November 29, 2022 - The webinar will enable stakeholders to discuss various topics around the use of technology in securities trading and how the objective of improving investors trading experience can be achieved. It would equally afford participants the opportunity to engage different stakeholders and address concerns around digital online trading. Click HERE https://bit.ly/2022OnlineTradingRankingReportWebinar to register for the event. Source Proshare Research Read More

What to Expect from the Markets this Week - 281122 - On Thursday, the National Bureau of Statistics released the GDP figures for Q3 2022. The data suggest that the Nigerian economy grew by 2.25%, with the growth largely supported by the services, which grew by 7.01%, while Agriculture managed a 1.34% growth. Source Proshare Research Read More

OPEC+ Meeting to take into Account Market Conditions – Iraqi Official - The OPEC+ meeting in December will take into account the condition and balance of the market, Iraq's state news agency quoted Saadoun Mohsen, a senior official at the country's state oil marketer SOMO, as saying on Saturday. Source Reuters Read More

SEC Warns Fund Managers Against Holding Client’s Funds, Securities - The Securities and Exchange Commission (SEC) has warned Fund Managers still in the habit of holding on to clients’ funds and securities to desist from such act or face the wrath of the apex regulator. Source Nations Read More 

PROSHARE BUSINESS

U.S. Grants Chevron License to Pump Oil in Venezuela - The Biden administration said on Saturday it would lift a key oil sanction against Venezuela, marking the first significant crack in a years-long U.S. embargo that could eventually help ease the tight global energy market. Source The Washington Post Read More

CEO Remuneration 2022: The Five Highest Remunerated CEOs (Full Remuneration) - Herbert Wigwe, the current CEO of Access Bank as indicated in the bank’s 2021 annual financial statement, assumed the position of CEO in January 2014, having served earlier as an executive director at Guaranty Trust Bank. Herbert had direct and indirect shares amounting to 1,517,850,729 at a dividend per share (DPS) of N1.00k. Source Proshare Research Read More

CEO Remuneration 2022: The Full Weight of the Nigerian CEO’s Pay Packet - Weighing the pay packets of top earning CEOs cannot be effectively without taking a broader look at all possible forms of earnings that the CEOs receive at the end of the financial year. Source Proshare Research Read More

PROSHARE TECHNOLOGY

How Crypto Companies Can Provide Proof of Reserves - Millions of people recently put their money and trust into FTX and were taken advantage of. This should never have happened. The resulting fallout has caused some crypto firms to struggle with liquidity, which has sparked a needed discussion regarding proof of reserves and the liabilities of a crypto exchange. Source Coinbase Read More

First NCC Digital Park Set for Completion January 2023 - Ahead of the auspicious commissioning of the Digital Industrial Park (DIP) project in Kano State, Prof. Umar Garba Danbatta, the Executive Vice Chairman of the Nigerian Communications Commission (NCC), has, again, paid an inspection visit to the site of the ongoing construction of the project in Kano State where he got an unequivocal commitment from the contractors that the project will be completed by January 2023. Source Tech Economy Read More