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Analysis of companies, stocks, investments, products and services, economy, budgets, business decisions in the Nigerian economic space.

PoS transactions hit N3.20 trillion in 2019, as stamp duty rip-off remain , Charges: Current accounts held drops by 4.5 million, as PoS transactions hit N373 billion

PoS transactions hit N3.20 trillion in 2019, as stamp duty rip-off remains

The value of transactions carried out using Point of Sale (PoS) channel in Nigeria hit N3.20 trillion in 2019.
Economy: IMF & World Bank differ on Nigeria’s growth outlook

Economy: IMF & World Bank differ on Nigeria’s growth outlook

The IMF released its Global Economic Outlook where the fund announced it expects global growth to slow in 2020 to 2.9% (World Bank – 2.5%).
Donald Trump. Oil price, US finally includes Nigeria into travel ban list, exempt certain visas 

Trump may extend travel ban to Nigeria, Tanzania, Belarus, others

President Donald Trump may consider his travel ban to Nigeria, Burma, Belarus, Eritrea,  Kyrgyzstan, Sudan and Tanzania. A source in the White House disclosed.
Financial Technology FinTech, Job loss, Accion Venture Lab, Fintech: Growth frontier of the next decade 

Fintech: Growth frontier of the next decade 

Globally, the fintech market is driven primarily by electronic payments following the increasing use of smartphones.
CBN-Governor-Emefiele, Investors’ and Exporters’ forex window aided Naira stability – Emefiele , Financial Inclusion: CBN licensed 15 mobile money operators – Emefiele , Rates continue to decline as banks struggle to meet CBN’s 65% minimum LDR, CBN releases new guidelines, to fine banks N2 million over customers’ complaint , CBN: FG fell short of monthly allocated collected revenue by N388 billion, CBN issues new rule for use of PoS, merchants to face sanction after deadline, CBN may devalue naira in 2020 as experts highlight red flags in the economy, CBN appoints and redeploys directors within its ranks, Banks look to lending rates for revenue, as slash on e-transaction charges affect operations, CBN discloses currency in circulation worth N2.44 trillion, CBN to commence recycling of mutilated naira notes, Agriculture: CBN's revised policy on the dairy industry, CBN condemns foreign money transfers to Nigeria, Experts outline effect of CBN’s longer term contract

Devaluation: Experts highlight trends clouding economy’s growth in 2020 

Financial experts and analysts say structural imbalances like revenue shortfall, development in the global oil market and CBN policies among others pose very bleak outlook for the economy.
Analysts explain when, why CBN could devalue naira by 5-10%

Analysts explain when, why CBN could devalue naira by 5-10%

The report explains why a 5-10% devaluation of the naira is plausible amidst the CBN's recent monetary policies.
Border closure weighing on operations of FMCGs

Border closure weighing on operations of FMCGs

Ahead of the FY 2019 earnings season, companies within the FMCG space have decried the negative impact of the border closure on their businesses.
Manchester United: A football club or a business

Manchester United: A football club or a business

Manchester United’s standard of elitism as of late dropped so low since the retirement of the long-term manager, Sir. Alex Ferguson in 2013
FG battles 6 oil firms for failure to remit N20 trillion , ExxonMobil, Shell, Chevron delay $58.4 billion oil and gas investment in Nigeria, Crude Oil: Nigeria’s oil production slips for the third consecutive month , Tax reform, policy uncertainty to cause oil drop as foreign firms look outside Nigeria 

Crude Oil: Nigeria’s oil production slips for the third consecutive month 

Yesterday, OPEC released its monthly oil market report for December which showed that Nigeria’s oil production dipped to a new low.
Data War: MTN edges our Airtel for first time in 5 months as 493,556 subscribers dump Glo, 9mobile , MTN is winning the data war, as 1.88 million subscribers dump Glo, 9mobile, Data War: MTN gains 8.18 million subscribers in 2019, as Airtel edges Glo, 9mobile

MTN wins data war, as 1.88 million subscribers dump Glo, 9mobile 

Nigeria’s largest mobile telecommunication company, MTN, is leading the race for greater data market share among Telcos for the second month in a row. Operators in the industry showed no signs of relenting on their efforts to outsmart each other for market share in the industry. #MTN, #AIRTEL,#GLO
ECOWAS economy grows by 3.1%, expected to hit 3.3% by end of 2019 , Dangote Refinery would help save $10 billion in forex - FG,, FG monitoring ‘Eco’ adoption by ECOWAS members amidst threat to Naira, CBN, Economy: Will the FG tax reforms support revenues in 2020? , FG exempt tuition fees, basic food items and others from 7.5% VAT, Nigeria’s total debt stock rises to N26.14 trillion  

Economy: Will the FG tax reforms support revenues in 2020? 

Zainab Ahmed disclosed that the new tax reforms as contained in the Finance Bill would help FG achieve its 2020 revenue estimate of N8.16 trillion.
energy, corp, recapitalization, New FIRS boss, Nigerians react following the end of Fowler’s reign as FIRS boss, Buhari seeks recapitalisation of African energy corporation to $1 billion tune, Outrage as President Buhari approves N37 billion for National Assembly renovation, Buhari to create new economic opportunities in agric, other neglected sectors , Economy: President Buhari signs Finance Bill into law, Agric: Buhari advances commitment to improve textile, food security, others, FG concludes plan to borrow N2 trillion from Pension Fund , Pres. Buhari’s plan to tax US tech companies might provoke US trade war 

Now that President Buhari has signed the Finance Bill into law

Yesterday, President Muhammadu Buhari signed the Finance Bill into law, hoping it would support the implementation of the 2020 budget.
NEC Inauguration: Buhari tells Governors "no more bail-outs", Bailout Fund: FG begins deduction of N614 billion from states’ allocation in 2 weeks , Ekiti, Enugu, Bayelsa, 12 others attract no investment in 1H , States’ debt stock, States receive N2.53 trillion allocation in 2019 , IGR: States generate N986.2 billion in 9-month, up by 16.8% [full-list], FG share N8.15 trillion with states, others in 2019 

States receive N2.53 trillion allocation in 2019 

State governors in Nigeria shared the sum of N2.53 trillion gross allocation in 2019 (January – November).
Tomatoes, pepper prices crash across major markets, as local rice continues to ease-off

Tomatoes, pepper prices crash across major markets, as local rice continues to ease-off 

The prices of several food items once again witnessed a significant drop. According to the latest Household Survey, prices of tomatoes and pepper crashed significantly, while the prices of local rice, yam and other items continue to ease off.
Sovereign Wealth Fund

Nigeria can do better with Sovereign Wealth Fund

Nigeria earns 80% of her Foreign Exchange earnings from one commodity, crude oil, with a significant budget deficit of over 2 trillion.
NCC orders immediate suspension of USSD charges by telcos, 5G Network to undergo 3 months trial before approval - NCC , NCC licenses 20 new Internet service providers amidst challenges , 150 million Nigerians risk being defrauded – NCC , NCC warns telcos against cyber fraudsters , NCC rolls out new regulations on drone use, NCC licenses 10 new VAS providers as it projects market to hit $500 million , NCC, Infracos set to develop broadband infrastructure with N265 billion raise , Telecommunications: Broadband penetration set to grow, Telecoms operators fined N2.9 billion over infractions 

Telecommunications: Broadband penetration set to grow 

The NCC and a consortium of infrastructural companies disclosed they would raise N265 billion for the development of broadband infrastructures.
charges, USSD, code, Banks, CBN, LDR, CRC Credit Bureau, Disrupting Nigerian banks, MTN’s USSD charge is not with our consent - Banks’ CEOs 

Banks borrow N19.64trillion from CBN in 2019

Commercial banks borrowed N19.64 trillion from the Central Bank of Nigeria in 2019, indicating a 73% increase from the N11.36 trillion borrowed in 2018.
Stay ahead of your competitors with these tips

Stay ahead of your competitors with these tips

You will only achieve success if you run your business on your own terms, and not fall prey to chasing after rivals in your industry.
Nigeria received $96 billion diaspora remittances inflow in 6-years

Nigeria receives $17.5 billion diaspora remittances in 2019 

Nigeria received $17.57 billion in direct diaspora remittances in 2019. According to data published by (@cenbank), remittances rose by 56.4% when it increased from $11.23 billion within the same period in 2018 to $17.57 billion in 2019.
Fitch downgrades Nigeria, blames Buharinomics for crisis in the economy , That $22 billion, Nigeria spends $1.31 billion to service external debt in 2019, up by 254% in 5 years, Confusion as ministry and presidency disagree over Finance Act start date  

Nigeria spends $1.31 billion to service external debt in 2019

Nigeria spent a whopping $1.31 billion to cover external debt obligations in 2019, as external debt service payment accumulated to $3.95 billion in the last 5 years (2015 - 2019). Data obtained from the (@cenbank) reveals
Crude oil prices continue to rise on the backdrop of US-Iran tension, US vs Iran: Broad implications for Nigeria, What does Iran’s war with America mean for Africa?

What Iran’s war with America means for Africa

On the 2nd day of the year, U.S President, Donald J. Trump launched a missile attack that killed Iranian General Qasem Soleimani.
Equities: A bullish run to start the year

Equities: A bullish run to start the year 

Following a bearish run in 2019, with a negative return of 14.6%, the local bourse began the year on a positive note.
Zenith Bank, GTBank, Loan performance, Ease of doing business, Banks, SMEs, Businesses

Analysis: FUGAZ are back and investors are lapping it up

It's just one full week of business at the Nigerian Stock Exchange and stocks are already 9.51% up, one of the best performers in the world today.
fintechs, commercial banks, Events in FinTech industry in 2019, Nigeria's fintech industry 2020: The growth frontier of the new decade

Nigeria’s fintech industry 2020: The growth frontier of the new decade

At a time when technology is disrupting the global financial services industry, Nigeria has not been left out of the change.
NAICOM, Recapitalisation: 44 firms get NAICOM’s nod , NAICOM boss makes case for recapitalisation, insists the exercise will solidify insurance sector , NAICOM extends recapitalisation deadline for insurance companies to meet new capital base, Due to lack of ‘process’, NAICOM says no insurance firm has met recapitalisation requirement, Insurance: Recapitalisation exercise sets consolidation in motion 

Insurance: Recapitalisation exercise sets consolidation in motion 

Six insurance companies have notified NAICOM of their plans to merge as part of their efforts in meeting up with the regulator’s recapitalisation requirements.
CBN-Governor-Emefiele, Investors’ and Exporters’ forex window aided Naira stability – Emefiele , Financial Inclusion: CBN licensed 15 mobile money operators – Emefiele , Rates continue to decline as banks struggle to meet CBN’s 65% minimum LDR, CBN releases new guidelines, to fine banks N2 million over customers’ complaint , CBN: FG fell short of monthly allocated collected revenue by N388 billion, CBN issues new rule for use of PoS, merchants to face sanction after deadline, CBN may devalue naira in 2020 as experts highlight red flags in the economy, CBN appoints and redeploys directors within its ranks, Banks look to lending rates for revenue, as slash on e-transaction charges affect operations, CBN discloses currency in circulation worth N2.44 trillion, CBN to commence recycling of mutilated naira notes, Agriculture: CBN's revised policy on the dairy industry, CBN condemns foreign money transfers to Nigeria, Experts outline effect of CBN’s longer term contract

Banks’ loan to private sector increases by N3.47 trillion in 2019

As the Central Bank of Nigeria (CBN) continues to compel Banks to boost their credit to the real sector of the economy, analysis of data published by the apex bank revealed that the loans increased by N3.46 trillion in 2019 (between January and November, 2019).
Crude oil prices continue to rise on the backdrop of US-Iran tension, US vs Iran: Broad implications for Nigeria, What does Iran’s war with America mean for Africa?

US vs Iran: Broad implications for Nigeria

Last week, the USA claimed responsibility for the assassination of a senior Iranian general, Qassem Soleimani, warning Iran not to retaliate.
Nigeria spends N1.08 trillion to import used cars and motorbikes in one year

Nigeria spends N1.08 trillion to import used cars and motorbikes in one year 

Data obtained from the NBS show that Nigeria spent a whooping sum of N1.08 trillion to import used vehicles and motorcycles in one year.
National electricity grid collapses again, as NUEE suspends strike action , FG to increase electricity tariffs in order to improve power supply, Power: Liquidity crisis-same old story in 2020?, GenCos urges NBET to pay up N1 trillion debt, Electricity Tariff: FG, electricity stakeholders to work on equitable rate 

Power: Liquidity crisis, same old story in 2020?

FG will bear a financial burden of N544.894 billion in 2020 being the cumulative shortfall in electricity tariffs of the 11 DisCos.
How billionaires performed on the NSE in 2019; who gained or lost?

How billionaires performed on the NSE in 2019; who gained or lost? 

In the Nigerian equity market, 2019 was not a very good one for many investors as the NSE All-Share Index ended the year with a 14.6% loss.