African Reserves Loans

Nigeria in 1min: Economic, Commercial and Financial News


Thursday June 10, 2021/6 a.m. / By news aggregator / Header image credit: Twitter; Monitoring

COVID-19 Health Updates

  • June 9, 2021: Nigeria’s COVID-19 status in 36 states and the Federal Capital Territory
  • Confirmed: 166,982 cases (New: 64)
  • Dump : 163,328
  • Death:: 2,117 (New: 0)

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Headline inflation will rise again to 18.2% in May 2021 РBased on our time series model and market research, headline inflation is expected to rise to 18.2% in May from 18.12% in April. The earlier announcement of a slight drop in headline inflation in April 2021 was greeted with some skepticism by analysts. Source FDC Lt̩e Read more

An overview of the Central Bank of Nigeria’s regulatory framework for non-bank acquisitions – On May 25, 2021, the Central Bank of Nigeria (“CBN”), recently issued a circular to deposit banks, payment service providers and other financial institutions advising them of the publication of the regulatory framework for non-bank acquisitions in Nigeria (“the Framework”). Source Olubusola Oyeyosola from AELEX Read more

Selling an Entrepreneurial Vision of Nigeria –I was graciously invited to a political meeting recently in Abuja. I hadn’t been there for a while and of course my political interest in Nigeria is waning, but not my interest in Nigeria itself. Source OpEd by Tope Fasua Read more

Naira devaluation could cause inflation, CBN officials warn – The House of Representatives called on the Central Bank of Nigeria to urgently put in place a policy to prevent a further devaluation of the naira against the United States dollar and other international legal rates. The House denounced that while the Nigerian currency is losing value, others in Africa are gaining. Punch at the source Read more

FEC approves 895.5 billion naira additional budget for military, COVID-19 – TheThe Federal Executive Council, FEC, on Wednesday approved the draft 2021 supplementary budget of 895,842,462,917 N. The Minister of Finance, Budget and National Planning, Ms. Zainab Ahmed, revealed this during a briefing to State House correspondents at the end of the Council meeting chaired by President Muhammadu Buhari at the Presidential Villa, Abuja. Vanguard of the spring Read more

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Investors earn 150.76 billion naira as NEASI rises 0.74% and closes above 39,000bp – The equity market closed today on a positive note, with the NSEASI appreciating + 0.74% to close at 39,170.95 basis points against the + 0.50% appreciation recorded previously. Its year-to-date (YTD) yields currently stand at -2.73%. Proshare Source Markets Read more

Gross official reserves decreased from US $ 650 million to US $ 34.23 billion in May 2021 – We note from CBN data that gross official reserves declined by $ 650 million to $ 34.23 billion in May. For a more precise snapshot, this gross figure should be adjusted for the delayed external payments pipeline: this adjustment was estimated at $ 3 billion by the IMF at the end of 2020. Source FBNQuest Research Read more

What are derivatives in financial market trading? Understand the basics and risks – Derivatives are financial market instruments that involve a contract between two parties for an agreed event, outcome or price movement of an asset. Derivatives derive their value from the value or performance of another asset or security. Source Forex Brokers SA Read more

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Sterling One Foundation Partners Proshare, others for a beach clean-up exercise on WED – To celebrate this day, Sterling One Foundation has partnered with Proshare, African CleanUp Initiative, Rite Foods Nigeria, Nigerian Donors and Bonnie Biodegradable Nigeria for their ‘Beach Cleanup’ initiative at Eleko Beach on Saturday June 5, 2021, to mark 2021 World Environment Day on the theme “Restoration of ecosystems”. Source WebTV Read more

Digital transformation: the medium is not the message – It’s a tornado! ”Who can forget the iconic tornado scene in The Wizard of Oz? As Dorothy’s family and friends lock themselves in a storm cellar, Dorothy herself is swept away from home. her, landing in the strange and wonderful land of Oz. Phillips Consulting Read more

FirstBank wins Global Banking and Finance Retail Banking CEO Award – While the age-old saying and philosophy that virtue is one’s own reward (or seeing good as one’s own reward) remains a powerful motivator to persistently do good, it helps when virtue is recognized from time to time. time. Source FirstBank Read more

Current trends in the recruitment landscape in Nigeria and the West Africa regionAn overwhelming number of HR professionals and business leaders have repeatedly identified: the attraction of skilled and professional workers, the development of management skills, the retention of top performing employees, the depth of the succession pool and the shortage of management talent as the most critical challenges impacting their organizational strategy. Source labor group Read more

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What are the best educational technological tools? – The use of educational tools improves student learning. These are beneficial for students and teachers. The best educational technological tools are intended to engage students in an optimal way. Article sponsored by Jung Hoon Read more

El Salvador, first country to approve Bitcoin as legal tender – Bitcoin must be legal tender in El Salvador, the country’s president said, making it the first country to adopt a cryptocurrency for everyday use. The Central American nation’s congressional lawmakers passed a bill on Tuesday evening that will eventually allow the notorious volatile digital currency to be used for many aspects of daily life, from property purchases to tax contributions. Source Guardian Nigeria Read more

Minister presents locally made cell phone in Buhari – Industry, Trade and Investment Minister Otunba Adeniyi Adebayo presented a Nigerian-made cell phone to President Muhammadu Buhari on Wednesday. He made the presentation of the phone named ITF Mobile shortly before the start of the Federal Executive Council (FEC) meeting chaired by President Buhari. Source THIS DAY LIVE Read more

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Nigerian pension funds invested 85.07 billion naira in 3 Ijarah Sukuk issued by FGN – Pension funds in Nigeria have so far invested around 85.07 billion naira in the 3 rounds of Ijarah Sukuk issued by the Federal Government of Nigeria. The Managing Director of AIICO Pension Managers Limited, Mr. Eguarekhide Longe made this point, speaking of the state of affairs of Islamic finance in Nigeria. Source Bukola Akinyele-Yisau for WebTV Read more

Awareness and perceptions of migrants on the dangers of irregular migration in Nigeria – The aim of the study was to collect factual data on the awareness and perception of potential and returning migrants on the dangers of irregular migration as well as on government efforts to tackle the prevalence of irregular migration in Nigeria. Source NBS Read more

PenCom bans fees on micro-pensions – To avoid the depletion of the micro-pension fund, the National Pensions Commission (PenCom) has mandated administrators of pension funds (PFAs) with funds below 5 million naira to stop paying fees. The head of PenCom, Surveillance Department, Ehimeme Ohioma made this known in a circular to the AFPs. Source La Nation Read more

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FG preselects 550,000 for the final selection of the N-Power program –The federal government, through its national social investment management system, shortlisted 550,000 candidates for the final selection of Lot C of the N-Power program. He also said that the Central Bank of Nigeria would support the beneficiaries of Lots A and B who had completed the N-Power program with reduced rate loans. Punch at the source Read more

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