Friday, December 31, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Federal Ministry of Finance
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PROSHARE ECONOMY
NLC Laments Rising Cost of Goods, Cautions Against Increase in Fuel Price – The Nigeria Labour Congress (NLC) has lamented the rising costs of goods and services that witnessed steady upward movement in the outgoing year. Source Guardian Nigeria Read More
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PROSHARE MARKETS
Investors Gain N3.22bn as NGXASI Inches Up Marginally by 0.01% Amid Positive Market Breadth – Equities market closed on a positive note, as NGXASI appreciated by 0.01% to close at 41,813.27 basis points as against -1.08% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +3.83%. Source Proshare Markets Read More
DEAL: FMDQ Set to Acquire Significant Stake in CSCS – FMDQ Group, Nigeria’s leading market for fixed income securities and forex, and operators of FMDQOTC has reached an agreement to acquire over 20% of CSCS. The value of the transaction is currently undisclosed. Source Nairametrics Read More
FG Borrows N1.99tn Via Bonds in Six Months Amid Rising Deficit Financing – The Federal Government’s bond offer and allotment rose by N1.99tn in the first six months of this year to N13.66tn, from the N11.67tn recorded in the corresponding period of last year. Source Punch Read More
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PROSHARE BUSINESS
Amid Currency Crisis, Reserves Gain $5 billion in 2021 – Amid currency crisis and fluctuation in oil prices, the country’s gross foreign reserves dipped by nearly $600 million in December alone. This raises fresh concern about the short to medium-term stability of the foreign exchange market. Source Guardian Nigeria Read More
NDDC Forensic Audit: Every Kobo Will Be Recovered – Buhari – President Muhammadu Buhari Thursday in Abuja said the concluded forensic audit of the Niger Delta Development Commission (NDDC) was being reviewed, with a view to recovering every kobo that is recoverable, while those found culpable will face the law. Source LeadershipNG Read More 
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PROSHARE TECHNOLOGY
Nigerian Telcos: Delivering a Digital Future – Since the end of 2019, Nigeria-listed telcos have outperformed the overall market, with Airtel Africa (AIRTELAFRI) gaining 219.5% and MTN Nigeria (MTNN) gaining 78.1% versus 57.7% for the NGX All-Share index. Source Coronation Research Read More
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PROSHARE FINANCE
Omicron Variant: A Downside Risk to Expectations for 2022 – Many Nigerians believe the pandemic is over, yet the current Covid-19 caseload in the country does not seem to portray that narrative. Since the index case of the Omicron variant in the country on 1 December, the total number of confirmed cases has continued to rise. Source CSL Research Read More
One Fire Incident Too Many: The Questions to Answer About the Boxing Day Fire at Next Cash N Carry – Our natural instinct is to wait for the official position when incidents like the fire outbreak at Next Cash n Carry, Abuja happens. This is one of Nigeria’s purpose-built shopping malls in the Federal Capital Territory, serving millions of Nigerians daily. Besides shoppers, the chain of employment it bears can only be appreciated after the damning effect of this incident. OpEd By Ekerete Ola Gam-Ikon Read More
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