27/06/2022
Nigeria in 1min: Economic, Business and Financial Headlines – 240622
https://proshare.co/articles/nigeria-in-1min-economic-business-and-financial-headlines-270622?menu=Business&classification=Read&category=All
What to Expect from The Markets This Week - 270622 - According to the Director-General, Bureau of Public Service Reforms, Dr. Dasuki Arabi, the government saved at least N220bn through the adoption of the Integrated Payroll and Personnel information system (IPPIS). https://proshare.co/articles/what-to-expect-from-the-markets-this-week-270622?menu=Market&classification=Read&category=Market
Tier 1 Reclassification: Analyzing Why FUGAZE Are at the Top of the Nigerian Banking Pile - Under the Afrinvest paradigm, the classification of banks was based primarily on the size of their entire balance sheet. The requisite size range for each bank tier has varied overtime. In this framework, the Analyst typically evaluates institutions based on a variety of parameters. https://proshare.co/articles/tier-1-reclassification-analyzing-why-fugaze-are-at-the-top-of-the-nigerian-banking-pile?menu=Economy&classification=Read&category=Proshare
FAAC: FG, States, LGAs Share N680bn as Allocation in May - up by N44bn - The federation account allocation committee (FAAC) says it shared N680.783 billion with the federal, states and local governments for May 2022. https://www.thecable.ng/faac-fg-states-lgas-share-n680bn-as-allocation-in-may-up-by-n44bn #:~:text=Business-,FAAC%3A%20FG%2C%20states%2C%20LGAs%20share%20N680bn%20as%20allocation,in%20May%20%E2%80%94%20up%20by%20N44bn&text=The%20federation%20account%20allocation%20committee,for%20June%202022%2C%20in%20Abuja.
Buhari Approves, Releases N41.6bn Take-Up Grant for Presidential Power Programme - The President, Major General Muhammadu Buhari (retd.), has approved and released $100m (N41.6bn at the official exchange rate of N415.63/$) as a take-up grant for the Presidential Power Initiative, it was gathered on Friday. https://punchng.com/buhari-approves-releases-n41-6bn-take-up-grant-for-presidential-power-programme/
FG’s Plan to Suspend Airport FZ Licences Will Discourage FDI, Experts Warn - Investors and aviation experts have warned that the recent pronouncement by the Federal Airports Authority of Nigeria (FAAN) that it would suspend issuance of licences to investors who wish to establish businesses at the airport free trade zones (FZ), would hinder the flow of Foreign Direct Investment (FDI) and discourage the berth of capital-intensive manufacturing concerns that want to operate there. https://www.thisdaylive.com/index.php/2022/06/24/fgs-plan-to-suspend-airport-fz-licences-will-discourage-fdi-experts-warn
Bakers Threaten Strike Over Rising Cost of Flour, Sugar - The Association of Master Bakers and Caterers of Nigeria (AMBCN) has threatened to withdraw their services nationwide, citing a hike in the price of bakery materials, neglect of the federal government and fleecing by regulatory agencies. https://www.thecable.ng/bakers-threaten-strike-over-rising-cost-of-flour-sugar #:~:text=The%20Association%20of%20Master%20Bakers,and%20fleecing%20by%20regulatory%20agencies.
e-Naira: IMF asks CBN to Review Identity Systems, KYC Policy - The International Monetary Fund (IMF) has called on the Central Bank of Nigeria (CBN) to strengthen Nigeria’s national identification systems and make Know-Your-Customer (KYC) requirements easily enforceable as the e-Naira integration into the payment ecosystem continues. https://thenationonlineng.net/e-naira-imf-asks-cbn-to-review-identity-systems-kyc-policy/
Pantami Tasks MTN on Additional Investments as NIN-SIM Linkage Tops 85m - Minister of communications and digital rconomy, Prof Isa Ali Ibrahim Pantami has urged MTN Group and its local subsidiary, MTN Nigeria to continue to invest in the country and support the Nigeria National Broadband Plan 2020-2025. https://leadership.ng/pantami-tasks-mtn-on-additional-investments-as-nin-sim-linkage-tops-85m/
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