Headline news

Lack of central vaccine database puts Nigeria on UK’s blacklist

The federal government’s failure to provide a single recognised vaccine database is the major reason the United Kingdom, (UK) has refused to approve Nigeria’s vaccine certificate, BusinessDay’s findings show.

Nigerian Exchange Group eyes N32.62bn from listing 1.9bn shares by introduction

The NGX Regulation Limited has approved the listing of Nigerian Exchange Group (NGX Group) Plc by introduction. The approval on September 22 for listing of the Nigerian Exchange Group Plc shows its will be listing 1.96 billion ordinary shares of 50 Kobo each on the Nigerian Exchange Limited (NGX) by way of introduction.

Nigeria PMI hits 3 month-high despite supply constraints

Nigeria’s manufacturing Purchasing Managers’ Index (PMI), a gauge for manufacturing sentiments has shown signs of recovery as it achieved 50.3 points in September

Nigeria is 97% ready for 5G network – NCC

The executive vice-chairman of the Nigerian Communications Commission (NCC) has said Nigeria is 97 percent for deployment of fifth-generation (5G) cellular network technology.

Morison, Honeywell, LASACO, others give investors over 100% return in 2021

Some stocks trading on the Nigerian Exchange Limited (NGX) have outperformed the market with returns in excess of 100 percent, BusinessDay’s analysis of market data for the first nine months of 2021 shows

Nigeria’s manufacturing sector records trade deficit of N4.3trn in Q2 2021

Figures from the Nigerian Bureau of Statistics (NBS) revealed that the value of manufactured goods imported into the country exceeded its corresponding exports by N4.37 trillion in the second quarter of 2021.

Access Bank’s successful $1bn Eurobond paves way for others

The successful issuance of $1 billion Eurobond by Access Bank Plc has paved the way for other banks to approach the market ahead of the November 2021 effective date for banks to commence the implementation of Basel III guideline

Why EU support Nigeria with additional $17.4 million to boost renewable energy

Nigeria is Africa’s most populous country and third-largest economy with growing energy needs that the national grid cannot meet fully or reliably

Investor strikes commercial oil, gas at Oza marginal field

London-listed and Nigeria-focused oil and gas investor, San Leon Energy has discovered a commercial quantity of crude oil and natural gas on Nigeria’s Oza oil field, after pumping cash into several drilling programs

Nigeria Serviced Debt with N1.47tn First Half 2021 – DMO

 Nigeria spent N1.47tn on debt servicing payments in the first half of 2021, data obtained from the Debt Management Office have shown. 

COVID-19: World Bank Approves $11.5bn for Nigeria, Others

The World Bank has said it approved $11.5bn in lending to Western and Central African countries for 98 operations. The World Bank said this in its ‘Annual Report 2021: From crisis to green, resilient, and inclusive recovery’.

South-South Governors to Join Suit Against FIRS on VAT Collection

 Governors of the south-south region say they have resolved to join the suit challenging the Federal Inland Revenue Service (FIRS) on the collection of value-added tax (VAT). Ifeanyi Okowa, governor of Delta and the chairman of the south-south governors’ forum, disclosed this on Monday, after the forum’s meeting in Rivers state.  

Fitch Affirms First City Monument Bank at ”B-”;Stable

Fitch Ratings has affirmed First City Monument Bank (FCMB) Limited’s Long-Term Issuer Default Rating (IDR) at ‘B-‘ with a Stable Outlook. The National Long-Term Rating has been upgraded to ‘BBB+(nga)’ from ‘BBB(nga)’, reflecting the bank’s increased creditworthiness relative to that of other issuers in Nigeria.

Fitch Affirms Sterling Bank at ”B-”; Outlook Stable

Fitch Ratings has affirmed Sterling Bank Plc’s Long-Term Issuer Default Rating (IDR) at ‘B-‘ with a Stable Outlook. The National Long-Term Rating has been upgraded to ‘BBB+(nga)’ from ‘BBB(nga)’, reflecting the bank’s increased creditworthiness relative to that of other issuers in Nigeria.

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First Ideas Limited is an investment and financial advisory company established in 1994 to provide advisory services to high net worth individuals, trust funds, financial institutions and medium sized companies in growth sectors.

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