Economic, Business and Financial Headlines – 060319 | Wetinberate| Realtime Naira Exchange Rates

Wednesday March 06, 2019 / 7:00 AM / Proshare




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Lagos State

Authorities Defaults On Inexperienced Notice Problem; Buyers Fret Over Yields
– Lagos State

Authorities’s N4.85bln, 15.75% Collection 1, Tranche B, environmental Word (“Inexperienced

Notice”) has run into hassle. The Fastened Revenue Observe, a sub class of the

bigger N50bln Medium Time period Notice used to finance the Cleaner Lagos  venture of the federal government is caught in a mesh

of politics and paperwork. Supply Proshare Learn


Ought to Nigeria

Ban The Importation of Tomato Paste? –
The Minister of Agriculture and Rural

Improvement, Chief Audu Ogbeh, lately introduced that the Federal Authorities

will place a last ban on the importation of tomato paste earlier than the top of

2019. Supply FDC Learn Extra 


Election and the Market Dynamics –
The incumbent President, Muhammadu

Buhari, has emerged the winner of the 2019 Presidential election held on

February 23rd, surpassing his shut contender (Atiku of PDP) by three.93 million

votes. Supply FDC Learn Extra 

NEITI: Nigeria

Misplaced At Least $16bn To Non-Assessment Of 1993 PSCs –
A quantitative research by the Nigeria

Extractive Industries Transparency Initiative (NEITI) has revealed that Nigeria

misplaced at the very least $16b over a ten-year interval (2008 – 2017) as a consequence of non-review of

the 1993 Manufacturing Sharing Contracts (PSCs) with oil corporations. Supply NEITI

Nigeria Learn Extra 

Nigeria’s Annual

Lettuce Output Much less Than 200,000 Tonnes
– Lettuce is a

leafy vegetable wealthy in antioxidants corresponding to vitamin C and zeaxanthin, an excellent

antioxidant that reinforces imaginative and prescient. Supply FDC Learn


Bulls Battle Bears

As Oil Costs Stall – OIR 050319
– Oil began off the weak on a mushy notice, however was

firming up by mid-day Tuesday. Supply Oilprice Learn


NNPC Recovers N771m Belongings

From Defaulting Entrepreneurs
– The Nigerian

Nationwide Petroleum Company on Tuesday introduced that it had recovered

belongings value over N771m from some oil entrepreneurs who under-paid for petroleum

merchandise provided to them from the Kaduna depot of the Petroleum Merchandise

Advertising Firm. Supply Punch Learn


OPEC Might Prolong Oil Output Determination Until June As

Costs Close to $70
– The Group of the Petroleum Exporting

Nations (OPEC) will probably wait till June to determine the way to proceed with the

manufacturing cuts because the initially set date for evaluate, April, could possibly be too quickly

to evaluate how the cuts and the availability from exempted and sanctioned Iran and

Venezuela would have an effect on the oil market, Reuters reported on Monday, citing three

OPEC sources. Supply Guardian Learn



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CBN Releases Preliminary Steerage

Notes on the Implementation of IFRS 9 within the OFIs sector in Nigeria
– The steerage word

communicates supervisory expectations for the implementation of latest commonplace,

particularly in areas the place OFIs are anticipated to train appreciable judgement

and/or elect to make use of simplifications and different sensible expedients permitted

beneath the usual. Supply CBN Learn


CBN Grants Operators up until

April 1, 2019 to Implement The Revised NCS and NICPAS
– Please recall that the

Central Financial institution of Nigeria reviewed the Nigerian Cheque Requirements (NCS) and

Nigeria Cheque Printers Accreditation Scheme (NICPAS), to extend the

effectivity and safety of the Nigerian Clearing System. Supply CBN Learn



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Dangote Cement

Plc: Constructive Outlook Sustained On Respectable FY’18 Numbers –
Dangote Cement just lately

launched its FY’18 outcomes, reporting a 91% y/y bounce in backside line to ₦390 billion, buoyed by a Group

tax credit score from the authorization of the pioneer tax standing on the Ibese

Manufacturing strains three&four in addition to Obajana line four. Supply Vetiva Analysis Learn Extra 

NSE Enhances

Capability of Dealing Members on Fastened Revenue Buying and selling –
According to its dedication to

enhance the capability of its members and improve buyers’ participation within the

Fastened Revenue Market, The Nigerian Inventory Change (“The Trade” or “NSE”)

organized a Fastened Revenue Workshop on Monday, March four, 2019, on the Inventory

Change Home. Supply NSE Learn Extra 

CBN Locations

Entry to FX for All Types of Textile Supplies on the FX Restriction Listing –
Opening pleasantries – Good

morning distinguished women and gents. I’m happy to be chatting with you

immediately on reviving Nigeria’s textile sector, which is significant to our progress

aims as a nation, and to our efforts at creating jobs for Nigerians on

mass scale throughout the textile sector worth chain. Supply CBN Learn Extra 

NSEASI Inches up

By zero.14% as Market Sentiment Stays Constructive –
Equities market closed in the present day on a

constructive notice, as NSEASI appreciated by zero.14% to shut at 32,173.66foundation factors

as towards zero.95% appreciation recorded beforehand. Supply Proshare Learn Extra

Bond Yields Tick Greater

following Rumours of CBN Governor
Removing – The

FGN Bond Market traded on a combined word, with yields trending markedly larger

following slight unload earlier within the session. Supply Zedcrest Capital Learn


Naira Curiosity Price

Adjustment: T-Invoice and OMO Auctions Produced Charges A lot Decrease Than Seen Earlier
– The yield on a Federal

Authorities of Nigeria (FGN) Naira bond with 10 years to maturity fell by 81bps

to 13.88%, and at three years fell by 16bps to 14.64%. The yield on a 364-day

T-bill fell by 222bps to 15.02%. Supply Coronation Learn


FSDH Launches N1.5b IPO For

Treasury Payments Fund

– The asset administration agency is providing 15 million models of its Treasury Payments

Fund at par worth of N100 every. The minimal funding quantity is 100 models or

N10,000 with multiples of 100 models or N10,000 thereafter. The IPO, which

opened on March 01, 2019, is scheduled to shut on, March 28, 2019. Supply

TheNation Learn


NSE To Listing 5 FGN Eurobonds

Value N5.37bn

– The Nigerian Inventory Change has revealed plans to record 5 Federal

Authorities of Nigeria’s Eurobonds valued at N5.37bn this week.The NSE stated in a

assertion on Tuesday that the Eurobonds can be listed on the Change on

Thursday. Supply Punch Learn


“Wall of Cash” Is Heading for

Rising Markets, IIF Says

– Buyers of just about each stripe look like turning extra bullish on

rising markets after withdrawing funds final yr, in accordance with the Institute

of Worldwide Finance. Supply Bloomberg Learn


How I&E Foreign exchange Window Buoyed Naira Stability With $50bn Inflows – Overseas trade inflows via the Buyers and Exporters (I&E) overseas trade window hit the $50 billion on the finish of February. This large influx was instrumental to the steadiness of the naira towards the greenback since 2017. Supply Vanguard Learn Extra

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Dangote Cement Exports To African

Nations To Hit $600m

– The President, Dangote Industries Restricted, Alhaji Aliko Dangote, has stated

Dangote Cement’s exports to different African nations are focused to rise to

$600m yearly. Supply Punch Learn


China Seeks to Increase Incomes,

Improve Consumption: NPC Replace –
Ongoing commerce

tensions with the U.S. and slowing progress have taken a toll on China’s financial system.

Supply Bloomberg Learn Extra

Tariff-Man Trump to Preside Over

$100 Billion Leap in Commerce Hole – 
President Donald Trump, the self-proclaimed Tariff Man, is about to grow to be the

$100 Billion Man. Supply Bloomberg Learn Extra

EU-UK Brexit Talks Failed To Attain

Deal On Tuesday –

between European Union and British Brexit negotiators ended after greater than

three hours in Brussels on Tuesday and can resume on Wednesday, sources from

each side stated. Supply Reuters Learn Extra

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The New Frontier For AI—In China; At

Least In Pig Farming
– The federal government’s hope is that with facial and

vocal recognition, together with different AI-powered know-how, farmers will probably be in a position

to determine and quarantine sick pigs earlier than the illness can unfold. Presently,

tech giants Alibaba and JD are among the many gamers offering this know-how.

Supply AngelList Learn



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What do

Insurance coverage Specialists Take into consideration AI in Claims Processing? –
The insurance coverage business is

dominated by giant international companies that cope with hundreds of consumers submitting

insurance coverage claims day-after-day. Supply Raghav Bharadwaj of Emerj Learn Extra 


Spending Buoys Development Actions in 2018 –
The development sector was one of many

key sectors that outperformed GDP progress in 2018. The sector grew by 2.33%,

from 1% in 2017. Supply FDC Learn Extra 

Actual Property –

Sector’s Progress But to Get well from Recession –
A breakdown of the lately launched GDP

report by the Nationwide Bureau of Statistics confirmed an extra contraction within the

actual property sector. Supply FDC Learn Extra 


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