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Daily Business News Brief |  Monday, January 10th,  2022.

10
Jan

Oando, Medview, Others Worth N109.11bn in Market Cap Fail to Submit FY Results on NGX – Thisday

A total of 16 companies worth N109.11billion in market capitalization have failed to comply with post-listing requirements of the Nigerian Exchange Limited (NGX) of filing audited result and accounts at stipulated period, THISDAY investigation has revealed.  THISDAY learnt that three out of the 16 companies have not remitted six years results to the bourse, a development that has kept investors in the dark over their corporate earnings and possible dividend payout. ………………. read more

Capital importation falls by N1.68tn – CBN -Punch

Foreign investors appear to have boycotted the Nigerian market as capital importation has dropped by $4.08bn (N1.68tn) in one year, latest statistics have shown  Between January and September 2020, total capital importation amounted to $8.55bn, data from the National Bureau of Statistics revealed.  However, according to the latest capital importation report by the NBS, during the same period in 2021, foreign capital inflows into the country fell by $4.08bn (N1.68tn) to $4.47bn.  A breakdown of the 2020 figures shows that in the first quarter of 2020, capital importation into Nigeria stood at $5.85bn, representing an increase of 53.97 per cent compared to Q4 2019……………… read more

SEC revises capital market master plan to woo investors – NGX  – Vanguard

The Securities and Exchange Commission has said it will launch a revised version of the 10-year Capital Market Masterplan in 2022 to reflect the dynamism of the market and developments in financial technology, among others. The Director-General, SEC, Mr Lamido Yuguda, said in Abuja in a New Year message that the commission would organise a capital market conference, where the launch would be done. He expressed confidence that the results of the various initiatives implemented would begin to gradually manifest, spurring developments in many aspects of the market………………read more

FG excessive borrowing from CBN threatens exchange rate, others – Report – CBN- Thisday

The Federal Government’s excessive borrowing from the Central Bank of Nigeria through the Means and Ways Advances window can have adverse effects on the apex bank’s monetary policy and subsequently harm domestic prices and exchange rates. This was disclosed in the monetary policy category of the CBN’s Frequently Asked Questions page.  Under the sub-section, titled ‘Can the Federal Government frustrate the Central Bank of Nigeria from pursuing its monetary policy?’, it was stated that there were certain distortions or surges in the monetary base due to the central banks financing deficits……………read more

LDR: Banks, Others Deposit with CBN Drops by 58.14% in 2021- Daily Independent

On the heels of meeting the Central Bank of Nigeria (CBN) 65 per cent Loan-to-Deposit (LDR) ratio policy, banks and merchant banks deposit with the apex bank dropped by 58.14 per cent in 2021.

Banks and merchant banks through the Standing Deposit Facility (SDF) on daily basis deposit excess funds with the apex bank at an applicable interest rate of 4.5 per cent at an asymmetric corridor of +100/-700 basis points around the 11.5 per cent Monetary Policy Rate (MPR).

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FG records N1.9tn revenue shortfall in 11 months- Punch

The Federal Government recorded a revenue shortfall of N1.93tn in a period of 11 months, according to data from the Budget Office.

The Budget Office, in a document containing an overview of the 2021 budget implementation, said the Federal Government’s aggregate revenue projection in the 2021 Appropriation Act and Supplementary Budget was N8.13tn.

It said N7.4tn was the prorated budget for January-November 2021 but the government generated only N5.51tn in the period, resulting in a shortfall of N1.93tn………………read more

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