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Africa Prudential Plc (NSE Ticker: AFRIPRUD, Bloomberg Ticker: AFRIPRUD: NL, Financial Times Ticker: AFRIPRUD: LAG) anno...
04/19/2020

Africa Prudential Plc (NSE Ticker: AFRIPRUD, Bloomberg Ticker: AFRIPRUD: NL, Financial Times Ticker: AFRIPRUD: LAG) announced its Unaudited Financial Statements for the period ended March 31st, 2020, with a Gross Earnings of N0.74 Billion and Profit Before Tax of N0.41 Billion. The Company delivered an Earnings Per Share of 17Kobo However, the company recorded a 10.4% decline in its Profit After Tax of N0.34 Billion, compared to N0.38 Billion in Q1 2019. [ 765 more words ]

Africa Prudential Plc (NSE Ticker: AFRIPRUD, Bloomberg Ticker: AFRIPRUD: NL, Financial Times Ticker: AFRIPRUD: LAG) announced its Unaudited Financial Statements for the period ended March 31st, 202…

Manufacturer and marketer of home and personal care products, Unilever Nigeria Plc, did not have it good in the first qu...
04/19/2020

Manufacturer and marketer of home and personal care products, Unilever Nigeria Plc, did not have it good in the first quarter of 2020, results of the company’s performance revealed. The Company recorded a turnover of N13.3 billion in the period under review. This represents a 46% increase compared to the previous quarter 4 2019 and a 30.7% decline compared to N19.2bn recorded for the corresponding period, Q1 2019. [ 121 more words ]

Manufacturer and marketer of home and personal care products, Unilever Nigeria Plc, did not have it good in the first quarter of 2020, results of the company’s performance revealed. The Company rec…

A new study from Juniper Research found that global spending on digital commerce will fall by 14% in 2020 as lockdowns a...
04/19/2020

A new study from Juniper Research found that global spending on digital commerce will fall by 14% in 2020 as lockdowns and reductions in consumer spending are felt. Spending will fall from $11.2 trillion in 2019 to $9.7 trillion. The new research, Digital Commerce Coronavirus Analysis: Impact Assessments & Market Forecasts 2020-2024, identified the digital ticketing area as particularly at risk; given the effect of widespread lockdowns on transport usage and events. [ 243 more words ]

A new study from Juniper Research found that global spending on digital commerce will fall by 14% in 2020 as lockdowns and reductions in consumer spending are felt. Spending will fall from $11.2 tr…

The acquisition further strengthens GP Global’s presence in Nigeria and West Africa GP Global has acquired the lubricant...
04/19/2020

The acquisition further strengthens GP Global’s presence in Nigeria and West Africa GP Global has acquired the lubricants assets of Nigeria’s Grand Petroleum; Grand Petroleum is part of Nigerian conglomerate: The Nosak Group; the acquisition further strengthens GP Global’s presence in Nigeria and West Africa; the acquisition includes a blending plant & a robust distributor network; the plant has a blending capacity of about 50,000 metric tonnes per year. [ 459 more words ]

The acquisition further strengthens GP Global’s presence in Nigeria and West Africa GP Global has acquired the lubricants assets of Nigeria’s Grand Petroleum; Grand Petroleum is part of Nigerian co…

The Libra Foundation recently released version 2.0 of the much-debated initial whitepaper, delineating their vision of m...
04/19/2020

The Libra Foundation recently released version 2.0 of the much-debated initial whitepaper, delineating their vision of making global financial infrastructure accessible. The initiative was initially scrutinized by regulators, fearing the impact an extra-territorial currency format would have on domestic monetary policy. The main changes in the new paper, which seem to take into consideration the regulatory challenges, are: Permissioned at first… [ 381 more words ]

The Libra Foundation recently released version 2.0 of the much-debated initial whitepaper, delineating their vision of making global financial infrastructure accessible. The initiative was initiall…

New numbers from the digital asset management giant Grayscale show investors are collectively throwing big money into Et...
04/19/2020

New numbers from the digital asset management giant Grayscale show investors are collectively throwing big money into Ethereum for the first time, on top of record investment numbers for Bitcoin. According to Grayscale’s Q1 2020 report, institutions are taking a serious interest in ETH, enough to print a record quarterly inflow into the Grayscale Ethereum Trust. Spencer Noon, the head of crypto investments at DTC Capital, says the numbers show Ethereum has reached a turning point with high-net worth investors. [ 228 more words ]

New numbers from the digital asset management giant Grayscale show investors are collectively throwing big money into Ethereum for the first time, on top of record investment numbers for Bitcoin. A…

For the first time in nearly half a century China's economy has stopped growing. The National Bureau of Statistics (NBS)...
04/19/2020

For the first time in nearly half a century China's economy has stopped growing. The National Bureau of Statistics (NBS) reported a 6.8 percent drop in economic output over the first quarter of the year. Retail sales were down by 19 percent and export sales shrank by 13 percent. Fixed asset investment is down as well whilst unemployment jumped to 5.9 percent. [ 1,249 more word ]

For the first time in nearly half a century China’s economy has stopped growing. The National Bureau of Statistics (NBS) reported a 6.8 percent drop in economic output over the first quarter …

According to a publication by The Nation print media, there are indications that the National Insurance Commission (NAIC...
04/19/2020

According to a publication by The Nation print media, there are indications that the National Insurance Commission (NAICOM) may extend the deadline for the recapitalisation of insurance and reinsurance companies for the second time. The publication cited that the Commission is concerned about the negative impact of COVID-19 pandemic on the exercise. Prior to this, NAICOM had announced an extension of the deadline to 31 December 2020 from 30 June 2020 previously. [ 273 more words ]

According to a publication by The Nation print media, there are indications that the National Insurance Commission (NAICOM) may extend the deadline for the recapitalisation of insurance and reinsur…

The Nigeria Centre for Disease Control has announced 51 new Coronavirus cases in the country. This brings the total numb...
04/19/2020

The Nigeria Centre for Disease Control has announced 51 new Coronavirus cases in the country. This brings the total number of cases in the country to 493, seven shy of the 500 mark. Of the new cases announced, 32 was recorded in Lagos while six was discovered in Kano State. NCDC in a tweet said, "Fifty-one new cases of -19 have been reported; 32 in Lagos, six in Kano, five in Kwara, two in FCT, two in Oyo, two in Katsina, one in Ogun, one in Ekiti. "As at 10:10pm 17th April, there are 493 confirmed cases of -19 reported in Nigeria."

The Nigeria Centre for Disease Control has announced 51 new Coronavirus cases in the country. This brings the total number of cases in the country to 493, seven shy of the 500 mark. Of the new case…

Google is reportedly testing its own Google-branded smart debit card that will help customers make and track purchases m...
04/18/2020

Google is reportedly testing its own Google-branded smart debit card that will help customers make and track purchases made online and in stores, according to a report from TechCrunch. The project is meant to be a new centerpiece for Google’s existing Google Pay system, which currently only does online and peer-to-peer payments by adding a physical debit card that could be used for a wider variety of purchases. [ 351 more words ]

Google is reportedly testing its own Google-branded smart debit card that will help customers make and track purchases made online and in stores, according to a report from TechCrunch. The project …

Equities Investors' interest in bellwether stocks, DANGCEM (+16.2%), MTNN (+6.8%), NESTLE (+16.5%) among others, led the...
04/18/2020

Equities Investors' interest in bellwether stocks, DANGCEM (+16.2%), MTNN (+6.8%), NESTLE (+16.5%) among others, led the domestic bourse to post a whopping 7.2% w/w gain - the largest weekly return since the 10th January 2020 (+9.1%). Thus, the All-Share Index settled at 22,921.59 points. Accordingly, the MTD return increased to +8.6% and YTD loss moderated to -14.6%. Sectoral performance was positive this week, as all sector indices gained. [ 728 more words ]

Equities Investors’ interest in bellwether stocks, DANGCEM (+16.2%), MTNN (+6.8%), NESTLE (+16.5%) among others, led the domestic bourse to post a whopping 7.2% w/w gain – the largest w…

Nigeria Government submitted a revised budget of NGN10.27 trillion, against NGN10.60 trillion previously approved. In th...
04/18/2020

Nigeria Government submitted a revised budget of NGN10.27 trillion, against NGN10.60 trillion previously approved. In the new budget, the deficit level is at a historical high of NGN5.2 trillion (previously NGN2.18 trillion), due to the downward revision in revenue estimates. While revenue was previously estimated at NGN8.42 trillion, the revised estimate is now NGN5.08 trillion. Oil revenue projection was the largest revision, with the estimate reviewed downwards by NGN254.2 billion (NGN2.64 trillion previously). [ 297 more words ]

Nigeria Government submitted a revised budget of NGN10.27 trillion, against NGN10.60 trillion previously approved. In the new budget, the deficit level is at a historical high of NGN5.2 trillion (p…

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