Nigeria in 1 minute: financial, enterprise and monetary headlines

Friday, February 5, 2021 / 6:00 a.m. / From News Aggregator / Header Photo Credit: Twitter; @seymak

COVID-19 health updates

  • February 4, 2021: Nigeria has COVID-19 status in 36 states and federal capital territory
  • Confirmed: 136,030 cases (New: 1340)
  • Unloading: 110,449
  • Deaths :: 1632 (New: 14)

Source: NCDC Continue reading

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Outlook 2021: a look at the most important economic indicators in 2020 – inflation –
Many factors shaped the rising inflation in Nigeria in 2020. The driving factors behind the rise in inflation include uncertainty, structural rigidity, the closure of land borders and the COVID-19 pandemic, which disrupted both global and domestic supply chains. Source Proshare Research Read More

The COVID crisis is causing food prices to rise for the world’s poorest – In the past year, COVID-19 has wiped out the economic, health and food security of millions of people and driven up to 150 million people into extreme poverty. While the health and economic effects of the pandemic have been devastating, one of the most tangible symptoms has been the rise in hunger. Source David Malpass from the World Bank Continue reading

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SEC crowdfunding or venture capital financing. Which one works – – Perhaps one of the most important decisions you can make as a Nigerian founder / business owner is deciding on the type of investor to raise money from and the type of investment vehicle that better reflects the type of investor’s risk appetite. Source Olubunmi Abayomi-Olukunle Read more

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NCM 2020: NSEASI Performance Review and How Every Business Fared in 2020 – The Nigerian stock market reversed the negative sentiment seen in 2019 at close of trading in 2020. The NSEASI closed 2020 up + 50.03% compared to a loss of -14.60% in 2019 and -17.81% in 2018. Source Proshare Research Read more

Investors lose N122.05 billion as NSEASI falls -0.51% to close below 42,000 billion points – The stock market closed negatively today as the NSEASI depreciated -0.51% to close at 41,785.80 basis points, versus a previously recorded -0.10% depreciation. The year-to-date return (YTD) is currently + 3.76%. Source Proshare Markets Continue reading

Honeywell Flour Mills Plc Raises Third Quarter 2020 Earnings Despite COVID-19 Concerns – Despite fears of COVID-19 that fueled investment concerns in Q2 and Q3 2020, Honeywell Flour Mills Plc defied analysts’ expectations as financial fortunes improved as revenue fell year-over-year despite a general economic collapse + 41.0% rose. Source Adesola Borokinni, Proshare Research Continue reading

Diaspora Remittances in Nigeria: Examining New CBN Policy (2) – In December 2020, the Central Bank of Nigeria (“CBN”) published a series of circulars promoting its new diaspora remittance policy.1 The older circulars and CBN policies were discussed in our previous article on the subject and can be read here .2 Source Aelex Continue reading

GameStop, ‘Reddit Rally’ stocks slide more, Yellen swears control – GameStop Corp and others recently favored by retail investors continued to fall Thursday as Treasury Secretary Janet Yellen said she must “understand deeply” the trading frenzy that has gripped Wall Street. Source Reuters Read More

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Questions and Answers from the Proshare 2020 Review and the Start of the Outlook Reports 2021 – On January 28, 2021, the Proshare 2020 Review Report titled “The Nigerian Capital Markets Report 2020: Telling a Crisis” and the 2021 Economic Outlook titled “Goodbye 2020, Hello 2021, Understanding Megatrends of a Crucial Year for an Economy” were released . were created to provide insights into what is happening in the Nigerian capital market, key sectors performance and the trends that are likely to shape events in 2021, to provide policy makers, businesses, households and the investing public with insights. Source Proshare Research Continue reading

The Economics of Influence: How Social Media Influencers Make Millions of Dollars Every Year – The influencer marketing industry has been in turmoil for the past few years and is expected to continue its upward trend over the next several years. According to MarketsandMarkets, an American research company, the market size of the global influencer marketing platform alone will grow from USD 5.5 billion in 2019 to USD 22.3 billion in 2024 with an average compound annual growth rate (CAGR) of 32.4% expected. Source Plaqad Continue reading

Reps Grill DPR, NNPC, CBN Summon Over $ 20 Billion Oil Theft – The House of Representatives has continued its investigation into diverted and stolen crude oil in Nigeria worth $ 20 million, with its ad hoc oil theft committee grilling top officials from the Department of Petroleum Resources. Source Punch Read More

FG aims to fully implement the ECOWAS Brown Card – The Federal Government has applied for the full implementation of the ECOWAS Brown Card insurance system in order to guarantee the victims of traffic accidents in the ECOWAS member states rapid compensation. Source Punch Read More

Nigeria posts $ 5.1 billion portfolio investment in nine months – Nigeria had portfolio investments of $ 5.1 billion in the first nine months of 2020. Figures from the National Bureau of Statistics showed that while significant investments of $ 4.3 billion were made in the first quarter, investments decreased to $ 385.32 million and $ 407.25 million, respectively, in the second and third quarters . USD. Source Punch Read More

Kyari: African leaders must use technology for energy supply – The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has urged African leaders to use new technologies and innovations to curb energy poverty on the continent. Source THISDAYLIVE Read More

NLNG Generated $ 108 Billion In 21 Years – Nigeria Liquidified Natural Gas (NLNG) said it has generated around $ 108 billion since it went online about 21 years ago. It was also stated that roughly $ 35 billion in dividends were paid out. Source The Nation Read More

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Facebook marketplace launched in Nigeria – Facebook today announced the launch of Marketplace in Nigeria, a practical destination where people can discover, buy and sell items from others in their local communities. Source Facebook Continue reading

Nigeria’s mobile internet subscription drops 563,837 – Nigeria’s mobile internet subscribers fell by 563,837 in December, with the total number of internet users falling to 153.87 million from 154.43 million in November 2020. Source Punch Read More

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Oando Foundation commemorates 10 years of bridging the gap in basic education – The Oando Foundation (referred to as “the Foundation”), an independent charity established in 2011 to help the Nigerian government achieve its universal basic education goals, is proud to announce its 10th anniversary on February 4, 2021. ) Anniversary to announce source Oando Continue reading

Bashar Al Natoor Speaks on Assessing Islamic Finance Growth in Nigeria and Africa – Mr. Bashar Al Natoor is the global head of Islamic finance at Fitch Rating. He is responsible for bringing together all Islamic Finance activities in the Sovereign, Financial Institutions, Corporate, Structured Finance, Infrastructure and Insurance teams at Fitch Rating and combines analysis and industry expertise in a special Islamic Finance group. Source WebTV Continue reading

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