Nigeria in 1min: Economic, Business and Financial Headlines – 270619

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Thursday, June 27, 2019 / 06:35 AM / By News Aggregator / Header Image Credit:@TonyOElumelu


 

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PROSHARE ECONOMY

Middle East Tensions Move Oil Prices Higher – OIR 250619 - Today, we will take a quick look at some of the critical figures and data in the energy markets this week. We will then look at some of the key market movers early this week before providing you with the latest analysis of the top news events taking place in the global energy complex over the past few days. We hope you enjoy. Source Tom Kool of Oilprice.com Read More

NECA, CIBN, MAN, Others Back Sanusi’s Call For Fuel Subsidy Removal - Against the backdrop of the statement by the Emir of Kano, Mallam Muhammad Sanusi II, that the country was on the brink of bankruptcy, the Nigeria Employers’ Consultative Association and other stakeholders have asked the Federal Government to scrap fuel subsidy. Source Punch Read More

Hope Rises For New Revenue Formula As Buhari Inaugurates RMAFC Board - The quest of the 36 state governments for a new revenue formula may soon become a reality as President Muhammadu Buhari is set to inaugurate the board of the Revenue Mobilisation, Allocation and Fiscal Commission, on Thursday (today). The RMAFC is the body responsible for preparing the formula for sharing revenues among the three tiers of government in the country. Source Punch Read More 

 

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PROSHARE MARKETS 

Forex: CBN Boosts Market With $210m - The Central Bank of Nigeria (CBN) has injected the sum of $210 million into the inter-bank Foreign Exchange Market. Figures obtained from the CBN on Tuesday, June 25, 2019, indicate that authorized dealers in the wholesale segment of the market were offered the sum of $100million, while the Small and Medium Enterprises (SMEs) segment received the sum of $55 million. Source CBN Read More 

NSE Promotes ETFs As A Sound And Viable Investment Option - The Nigerian Stock Exchange (NSE), the leading market for Exchange Traded Funds (ETFs) in the West African region, has commenced a three-day enlightenment campaign to increase investors’ awareness and participation in the ETFs market. Source NSE Read More 

FBNH Exercises Option To Its Call US450m 8% Subordinated Notes Due July 2021 - First Bank of Nigeria Limited (‘First Bank”) or (‘the Bank”), the largest subsidiary of FBN Holdings Plc. (‘FBNHoldings”) intends to exercise its option to redeem the fixed rated subordinated note (‘the Note”) held by FBN Finance Company B.V. Source NSE Read More  

Investors Lose N26.29bn As Sell Pressure Persists - Equities market closed today on a negative note, as NSEASI depreciated by 0.20% to close at 29,609.00 points as against 0.47% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -5.80%. Source Proshare Markets Read More

Investors Showing High Level Of Demand For FG Bonds — DMO - The Debt Management Office (DMO), says investors have in recent months been showing high level of demand at Federal Government bond auctions, a development which continued at the auction for June. Source TheNation Read More 

 

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PROSHARE BUSINESS 

7th Christopher Kolade Lecture: Osinbajo, Sanwoolu To Attend Event - Vice President Professor Yemi Osinbajo, SAN, GCON and Lagos State Governor Mr. Babajide Sanwo-Olu will be special guests at the 7th Christopher Kolade Lecture on Business Series. Source Ottoabasi Abasiekong for Proshare WebTV  Read More

Nigerians May Pay More For Commodities, As New Duty Regime Bites - Nigerians may be bracing for higher prices of commodities as the spiral effect of the sudden increase in import duty by over 6.1 per cent by the Federal Government, takes toll on prices.Already, importers and manufacturers are groaning under the new regime and the impact on their businesses. Source Guardian Read More

Oil Prices Jump To $65.91 As U.S. Crude Stocks Fall - Oil prices rose more than one per cent on Wednesday to their highest in nearly a month as industry data showed U.S. crude stockpiles fell more than expected, underpinning a market already buoyed by worries over a potential U.S.-Iran conflict. Source Leadership Read More

 

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PROSHARE FINANCE

NDIC Raises Concern Over Huge Financial Exclusion - Nigeria Deposit Insurance Corporation (NDIC) has raised concern over the huge financial exclusion in Nigeria, which it put at 60 per cent.The managing director/chief executive officer, Alhaji Umar Ibrahim, disclosed this yesterday when he visited the Senate president, Ahmed Lawan. Source Guardian Read More

 

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