Thursday, January 06, 2022 / 6:00 AM / By News Aggregator / Header Image Credit: Channels TV
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PROSHARE ECONOMY
Q3 2021 Debt Data: External Debt Service Still Relatively Modest – The DMO’s latest quarterly publication on external debt service show that the FGN’s external debt service obligations amounted to USD521m in Q3 ’21. The sum consists of USD246m and USD275m on market and non-market debt respectively. Source FBNQuest Research Read More
Year 2021: Strong Data But Perplexed People – Ups, Downs, and Bumps Along the Road – For Nigeria, the official data of macroeconomic indicators (GDP, inflation, exchange rate, external reserves, and oil prices) point to a strong 2022. However, the average Nigerian is still perplexed. Source FDC Ltd Read More
Filing of 2021 Employer’s Pay-As-You-Earn Tax Returns is Due Jan 31, 2022 – The Returns, which show each employees’ emolument and taxes paid in the preceding year, are to be filed with the relevant State Board of Internal Revenue Services (SBIRS) where the employees were resident (and with the Federal Capital Territory Internal Revenue Service for employees that were resident in Abuja) in 2021. Source Wole Obayomi Read More
Osinbajo Panel to Meet NLC Over Subsidy Removal, Transport Palliative – The Minister of Finance, Budget and National Planning, Zainab Ahmed, says the Federal Government is determined to remove subsidy on Premium Motor Spirit, commonly known as petrol. Source Punch Read More
Zainab Ahmed: FG Has Surpassed N1trn from Independent Revenue Collection – Zainab Ahmed, minister of finance, budget and national planning, says federal government independent revenue surpassed the N1 trillion mark for the first time. Independent revenue is a stream of income received without directly exchanging labour-power for it. These include interest on money capital, dividends earned by share ownership, rental income, etc. Source TheCable Read More
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PROSHARE MARKETS
NGXASI Maintains Positive Posture; Inches Up by 1.05% – Equities market closed on a positive note, as NGXASI appreciated by 1.05% to close at 43,476.75 basis points as against +0.73% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +1.78%. Source Proshare Markets Read More
BUA Foods Plc Receives Approval to List on the NGX – BUA Foods has satisfied the listing requirements of The Exchange and obtained relevant regulatory approvals, as a result, BUA Foods is now listed in the consumer goods sector of the Exchange, with the ticker “BUAFoods”. Source BUA Group Read More
Pension Funds Raise Stakes in FG Securities by 7.9% to N8.2trn – Investments in Federal Government securities dominated pension fund portfolio in the first nine months of 2021, increasing by 7.9 percent to N8.2 trillion from N7.6 trillion in the corresponding period of 2020. Source Vanguard Read More
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PROSHARE BUSINESS
Adeduntan: FirstBank is Resilient, Stable and Built for the Long Haul – The Managing Director/Chief Executive Officer of First Bank Nigeria Limited, Dr. Adesola Adeduntan, last year saw his tenure extended as part of efforts to ensure the stability of the financial institution. Source FirstBank Read More
AMCON Lists 7,912 Names Owing N4.4tn as Deadline Expires – The Asset Management Corporation of Nigeria is set to publish the names of 7,912 debtors owing it a total of N4.4tn, it has been learnt. The move follows the expiration of the 30-day ultimatum given by the National Assembly to debtors to regularise their debt status with the bad debt manager. Source Punch Newspaper Read More
AMCON: Another Attempt at Naming and Shaming – Following the expiration of a 30-day deadline today given to debtors to offer a repayment proposal to the Asset Management Corporation of Nigeria (AMCON), the debt manager has threatened to publish the complete list of the names of individuals, institutions, and directors on its non-performing loans (NPLs) portfolio in national newspapers. Source CSL Research Read More
President Buhari Appoints Board and Management of NNPC Limited; Okadigbo is Board Chairman – President Muhammadu Buhari has appointed the Board and Management of the Nigerian National Petroleum Company Limited, in accordance with the power vested in him under Section 59(2) of the Petroleum Industry Act 2021. Source State House Press Release Read More
New Tax on Carbonated Drinks’ll Worsen Economy – MAN, Experts – The Federal Government has introduced an excise duty of N10 per litre on all non-alcoholic, carbonated and sweetened beverages. Excise duty is a form of tax imposed on the production, licensing and sale of goods. Source Punch Read More
Oil Prices Rise Ahead of OPEC Meeting – Oil prices rose on Tuesday as investors expected the Organisation of Petroleum Exporting Countries (OPEC+) producers meeting on output to stick with their planned increase for February based on indications Omicron would have only a mild impact on demand. Source LeadershipNG Read More
FG Blames Seaport Congestion on Absence of Dry Ports – The Federal Government has said the nation’s seaports are heavily congested because of the absence of dry ports and multi-modal transport infrastructure to move freight from originating points to ports and vice versa. Source Punch Read More
Afe Babalola Charges FG, CBN on Cash Crunch in Banks – Founder and Chancellor of Afe Babalola University, Ado-Ekiti (ABUAD), Afe Babalola (SAN), yesterday, asked the Federal Government and Central Bank of Nigeria (CBN) to urgently address the cash crunch being experienced by customers of commercial banks. Source Guardian Nigeria Read More
The Mago-Mago in Magodo! – In the fiasco arising from the attempt to execute a 2012 supreme court judgement in Magodo, Lagos, some of the issues that have been thrown up include the legacy of impunity by the military, sanctity or otherwise of rule of law in Nigeria, the ease with which the police could be deployed to serve private interest. Source Olusegun Adeniyi Read More
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PROSHARE TECHNOLOGY
NITDA Boss Harps on Digital Innovations, Creativity to Boost Education – The Director General, National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi has stressed the need for innovations and creativity to change the nation’s education outlook for the better. Source THISDAYLIVE Read More
Nigerians to Pay VAT for Digital Services – Finance Minister – Nigerians may have to pay more for digital services as the Federal Government has introduced a policy requiring foreign companies that provide digital services in the country to collect and remit Value Added Tax to the Federal Inland Revenue Service. Source Punch Read More
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