Nigeria in 1min: Economic, Business and Financial Headlines

Friday, April 01, 2022 / 05:49 AM / By News Aggregator / Header
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PROSHARE ECONOMY

Emefiele: Of
Precedence, Consequence and Future of the Office of the CBN Governor -
Editorial – The Nigerian
economy, quite frankly, is in a perilous state under the current monetary and
fiscal regime that it can ill-afford and absorb any distractions. Source
Proshare Editorial Read More

What the Global Oil Crisis Means for Africa – Energy experts say the growing oil crisis across the globe is a wake-up call for the African continent to be become less dependent on foreign oil supplies. The cost of fuel has risen sharply, with Brent crude oil hitting a 14-year high in recent weeks. It remains firmly above $100 per barrel at the time of publication. Source Africa Oil Week Read More

OPEC Raises Nigeria’s Oil Quota Amidst Low Production –
The Organisation of Petroleum Exporting Countries on Thursday raised Nigeria’s
oil production quota from the 1.735 million barrels per day target approved in
April 2022 to a new target of 1.753 million barrels per day for May 2022.
Source Punch Read
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PROSHARE MARKETS

Investors Gain
N32.87bn as NGXASI Inches up by 0.13%; Amid Negative Market Breadth – Equities market closed on a positive note, as
NGXASI appreciated by +0.13% to close at 46,965.48 basis points as against +0.13%
appreciation recorded previously. Its Year-to-Date (YTD) return currently
stands at +9.95%. Source Proshare Markets Read More 

Bondholders
Brace for Russian Expulsion From $842 Billion Club – Investors are bracing for more losses in Russian debt
as expulsion from key indexes in the wake of President Vladimir Putin’s
invasion of Ukraine hits an already trampled market. Source Bloomberg Read
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PROSHARE BUSINESS

Diesel: Telcos Lament High Operational Cost, Seek FG’s
Intervention –
Telecommunication providers under the aegis of the Association of Licensed
Telecommunications Operators of Nigeria have said the rising cost of diesel has
impacted negatively on their operational costs and that they are set to
approach the Federal Government for special interventions. Source Punch Read
More

NSIA to Boost Economic Activities on Kano-Abuja Highway
– The
Nigeria Sovereign Investment Authority (NSIA) has provided security operational
vehicles to the Nigeria Police Force (NPF) to ensure adequate security on the
Abuia-Kano highway. Source Guardian Nigeria Read
More

Nigeria Air Will Operate Without Government
Interference – Sirika – Minister of Aviation, Hadi Sirika, has said that Nigeria Air
Limited, the country’s proposed national carrier, when operational, will have
no government control. Sirika said he is optimistic that when the carrier comes
on board, it will run smoothly without undue government interference. Source
LeadershipNG Read
More

Reps Summon Transport Ministry, NPA Over Stalled
N211.9bn Concession Renewal – The House of Representatives Committee on
Privatisation and Commercialisation, has summoned the Minister of
Transportation, Chibuike Rotimi Amaechi, the Nigeria Ports Authority (NPA), the
Bureau for Public Enterprises, Infrastructure Concession Regulatory Commission
(ICRC) and others over the stalemate in the renewal of expired lease agreements
of five terminal operators. Source Daily Trust Read
More

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PROSHARE TECHNOLOGY   

NCC
Alerts Nigerians to New Cyber Threats Targeting Windows, Routers – The Nigerian Communications Commission, through its
Computer Security Incidents Response Team for the telecoms sector, has
identified two new cyber threats targeting Windows Platforms and some routers
separately. Source Punch Read
More

Crypto
Exchange Binance Wins Dismissal of U.S. Lawsuit Over Digital Token Sales – A federal judge on Thursday dismissed a lawsuit
accusing Binance, the world’s largest cryptocurrency exchange by trading
volume, of violating U.S. securities laws by selling unregistered tokens and
failing to register as an exchange or broker-dealer. Source Reuters Read
More

U.S.
Targets Russia’s Technology Sector in Fresh Sanctions – The United States on Thursday imposed fresh sanctions
on Russia, targeting the technology sector, a sanctions evasion network and
what it called “malicious cyber actors” while paving the way to act
against additional sectors in response to President Vladimir Putin’s assault on
Ukraine. Source Bloomberg Read
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PROSHARE FINANCE

Global Money
Week 2022: FMAN Sensitizes YABATECH Students on Smart Investment Principles – As part of the events to commemorate this year’s
Global Money Week, the FMAN sensitized the full-time final year (HND 2)
students of the School of Management and Business Studies (SMBS), comprising
five departments which are Accountancy, Business Administration, Banking and
Finance, Marketing and Office Technology of YABATECH, on the need to be smart
about money, as a panacea to building a brighter future. Source FMAN Read More

Between
Insurance and Our Vandalised National Assets – In weeks of horror for many Nigerians, precious
lives have been lost and some of our valued national assets have been destroyed
and vandalised. From an insurance perspective, considerations will lean towards
possible life assurance policies of the lives lost and the huge impact on the
families left behind, unprepared and exposed. A completely inestimable
situation. Source Op-Ed By Ekerete Ola Gam-Ikon Read More 

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