PROSHARE MARKETS

Investors Gain N206.58bn as NGXASI Advances Further by 0.69%; Overnight Rate Closes Flat at 10.81%; BDC Rate Advances to N755 - The NGX All-Share Index advanced by 0.69% to close at 55,328.42 basis points as against a 0.55% gain recorded previously to close at 54,949.21 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records a N206.58bn gain. YTD, the NGXASI Stands at +7.96%. Source Proshare Research Read More

Dangote Cement Plc Declares N382.31bn PAT in 2022 Audited Results, Proposes N20.00K Final Dividend; (SP:N270K) - Dangote Cement Plc released its Q4 2022 Audited results for the period ended December 31st, 2022. Source NGX Read More

BUA Cement Plc Declares N101.01bn PAT in 2022 Audited Results, Proposes N2.80K Final Dividend; (SP:N 99.45K) - BUA Cement Plc released its Q4 2022 Audited results for the period ended December 31st, 2022. Source NGX Read More

PROSHARE ECONOMY

Amidst Macro Economic Challenges, Banks’ Prime Lending Rate Hit 13.67% in January - Amid severe macro economic challenges and increase in Monetary Policy Rate (MPR), commercial banks’ prime lending rate to most credit-worthy customers increased to 13.67 per cent in January 2023, a 1.99 per cent Year-on-Year (YoY) increase from 11.68 per cent in January 2022. Source THISDAYLIVE Read More

Nigeria Bonds Rise as Tinubu Leads in Pivotal Election Tally - Nigerian bonds are posting some of the best gains in emerging markets as investors bet that ruling-party candidate Bola Tinubu, who’s taken an early lead in the nation’s presidential election tally, will offer reforms to pull Africa’s largest economy out of a fiscal mess. Source Bloomberg Read More

PROSHARE REGULATORS

Analysts Note: CBN’s Muddled Regulatory Circular on Executive Tenure: Matters Arising - On Friday 24th February 2023, the Central Bank of Nigeria (CBN) in a breezy and elliptic one-page circular provided regulatory guardrails for bank director tenures, initially suspected to equally apply to Financial Holding companies (Holdcos). The circular bootstrapped the tenures of bank Managing Directors (MDs), Deputy Managing Directors, (DMDs), Executive Directors (EDs), and Non-Executive Directors (NEDs). Source Proshare Research Read More

PROSHARE BUSINESS

President Signs the Business Facilitation Bill into Law - His Excellency, President Muhammadu Buhari, GCFR, signed the Business Facilitation (Miscellaneous Provisions) Act 2023, (“the Omnibus Act” or “the Act”) into law on 14 February 2023 as part of the Federal Government's initiatives to foster an enabling environment for micro, small, and medium-sized enterprises (MSMEs) in Nigeria. Source KPMG Read More

PROSHARE TECHNOLOGY

eToro Partners with Sentifi to Launch Social Sentiment Portfolio - eToro, the social investing network, announced today the launch of Social Sentiment, a portfolio offering exposure to US companies with solid ESG performance and high levels of positive social chatter developed in partnership with Sentifi, an award-winning alternative data provider. Source Mondo Visione Read More

Lido Finance activates staking rate limit after more than 150,000 ETH staked - Liquid staking protocol Lido Finance activated a protocol safety feature called “staking rate limit” after more than 150,000 Ether was staked with the protocol in a single day. Source Cointelegraph Read More