Before it's here, it's on InfoWARE Market Data Terminal; Years of Fundamentals, Analytics and more... NEWGOLD 15.51  OMATEK 10.00  NEM 10.00  GOLDBREW 9.88  CHAMS 9.52  FTNCOCOA 9.41  WAPIC 9.30  STANBICETF30 9.27  NSLTECH 9.09  JAPAULGOLD 9.09  CONOIL -9.95  ABCTRANS -9.30  SOVRENINS -9.09  SUNUASSUR -8.51  COURTVILLE -8.00  UPL -7.17  CUTIX -5.24  PHARMDEKO -3.80  PZ -3.59  UBN -2.08 
Get IDIA - the stock trading app for the modern investor
Coronation Research Daily Insights
(Source: Coronation Research, Date: 24-Mar-2023)

FRIDAY, 24 MARCH 2023

Naira Scarcity | FG's Assets | Insurance Premium | Anchor Borrowers Programme | Electronic TransferGood Morning,

Here are your top 5 news items for the day.

Naira Scarcity


Crowds Overwhelm Banking Halls As Branches Ration Cash "" Daily Trust

Following the news of the Central Bank of Nigeria (CBN) commencing the disbursement of the old N500 and N1,000 notes to arrest the cash crunch that has brought untold hardship on Nigerians, Daily Trust check shows that queues are sill extending at bank offices. Daily Trust has reported that CBN had instructed commercial banks to immediately collect the old naira notes, deposited at the apex bank, promising that before the end of the week, the nation would be awash with more naira notes, according to a reliable source. Our reporter in Abuja disclosed that Unity Bank and a couple of other banks in Utako were paying out the old notes yesterday as customers were seen taking N20,000 apiece. Branches in Kwara have no cash. Bank managers in Ilorin, the Kwara State capital, told Daily Trust on Monday that contrary to the CBN ...instruction," nothing was released to them by the apex bank. Some staff in Jaiz and UBA who also confirmed the development, said they did not receive the old notes from the CBN which worsened the situation for many customers. A POS. Read more Naira scarcity: Crowds overwhelm banking halls as branches ration cash - Daily Trust

FG's Assets


MOFI To Raise FG's Assets To N100tr In 10 Years ""Daily Trust

The Ministry of Finance Incorporated (MOFI) has said it is making moves to raise the federal government's assets under its register from N18tr to N100tr in 10 years. Speaking during a visit to the National Family Home Funds Limited, yesterday in Abuja, the CEO of MOFI, Armstrong Takang, said it is exploring several options to turn the government's assets into investments through valuation. ...We are starting with an asset base of 40 companies that have been valued; that is our take-off point. There are a lot more companies but the valuation is just over N18tr. ...The target we are given is to grow its assets under our management to over N100trn in the next 10 years. The idea is that the elements in the National Assets Register will have to be converted into assets that generate cash flow." Takang further explained that N18tr assets do not include any of the country's major infrastructure, like airports, seaports or mining rights. He added that this shows. Read more MOFI to raise FG's assets to N100tr in 10 years - Daily Trust

Insurance Premium


Insurance operators recorded N726bn premium in 2022 "" NAICOM "" Punch

Nigeria's insurance industry recorded N726.2bn gross premium income at the end of the fourth quarter of 2022. The National Insurance Commission disclosed this on Thursday in its "˜Bulletin of the insurance market performance', a statistics department quarterly report of the insurance market for fourth quarter, 2022. The industry also paid N318.2bn claims to its customers, while its total assets stood at N2.32tn in the fourth quarter. It stated, ...The gross premium income generated as at the fourth quarter of 2022 stood at N726.2bn, representing a growth proportion of about 36.3 per cent, quarter on quarter and indeed, about 17.8 per cent year on year. ...This is a remarkable situation compared to the real growth 3.5 per cent of Gross Domestic Product over the same period and, is attributable to consistent regulatory measures being carried out by the commission." According to the report, non-life business as in the prior periods, continued its. Read more Insurance operators recorded N726bn premium in 2022 "" NAICOM (punchng.com)

Anchor Borrowers Programme


CBN disburses fresh N39.36 billion under ABP, other interventions "" Guardian

Despite its commitment to tapering its interventions, the Central Bank of Nigeria (CBN), this year alone, released fresh N12.65 billion under its flagship Anchor Borrowers' Programme (ABP). The amount, which was disbursed to three agriculture projects in January and February, brings the total disbursement through the scheme to N1.09 trillion. So far, over 4.6 million smallholder farmers cultivating (or rearing) 21 agricultural commodities on 6.02 million hectares of farmland have benefited from the programme, the apex bank said in a communiqué on the outcome of the Monetary Policy Committee (MPC) meeting held on Monday and Tuesday. In the same period, a fresh N23.7 billion was disbursed as part of the bank's commitment under the N1 trillion Real Sector Facility and another N3.01 billion under the. Read more CBN disburses fresh N39.36 billion under ABP, other interventions | The Guardian Nigeria News - Nigeria and World News "” Business "” The Guardian Nigeria News "" Nigeria and World News

Electronic Transfer


Worries as ATMs, PoS, mobile channels account for N3.6 billion fraud "" Guardian

About N3.62 billion fraud have been perpetrated through the Automated Teller Machines (ATMs); Point of Sales (PoS) machines, mobile and other electronic channels and cash as of third quarter of 2022. The FITC, which disclosed this in its "˜Report on Frauds and Forgeries in Nigerian Banks' Q3, 2022, said bank personnel carried out all cash theft cases reported within the period. Specifically, the 18-page document revealed that in the third quarter of 2022, 19, 314 cases were reported, compared to 20, 195 witnessed in the same period in 2021, which was a decrease of 4.36 per cent. However, the total amount involved dropped from N34.8 billion to N9.62 billion, a decrease of 72.34 per cent. But the total amount lost in the same period last year was N853,167,293.61 (2021) against N3.62 billion in Q3, 2022, representing an increase of 324.50 per cent. According to FITC, outsider involvement in the frauds increased, moving from 14,243 in Q3, 2021 to 16,125 a year after, which was a 324.50 per cent rise. Insider (staff) involvement increased significantly. Read more Worries as ATMs, PoS, mobile channels account for N3.6 billion fraud | The Guardian Nigeria News - Nigeria and World News "” Business "” The Guardian Nigeria News "" Nigeria and World News

Read Disclaimer

Subscribe to Nigeria Weekly Update

Subscribe Here

   
This publication is a product of Coronation Asset Management and you are receiving this email from Coronation Registrars Limited because you are a valued shareholder to our client (listed companies for whom we maintain register of shareholders). Information used in the preparation of this publication is believed to be accurate at the time of going to press, though not verified independently. No liability is accepted for errors nor omissions of fact, nor is any warranty given for the reasonableness, accuracy or completeness of the information presented. Neither Coronation Registrars nor Coronation Asset Management, their directors, employees and contractors accept(s) responsibility for losses or opportunity costs, whether direct or consequential, that may be incurred as a result of trading, or not trading, on information covered in this publication, or other securities, as a result of any decision taken after reading this publication.
For further enquiries, please contact  info@coronationregistrars.comCoronation Registrars Limited, 9 Amodu Ojikutu Street, Off Saka Tinubu Street, Victoria Island, Lagos, NigeriaCopyright © 2023, All rights reserved.You are receiving this email from Coronation Registrars Limited because you are a valued shareholder to our client (listed companies for whom we maintain register of shareholders).
Top News

MARKET SUMMARY - JUNE 09, 2023...NGX ASI LOSE -0.05%; LOSSES IN CONOIL, OANDO, & DANGCEM; ETERNA LOSES STEAM AND CLOSED FLAT.......

SECURITIES AFRICA NIGERIA RESEARCH
09-Jun-2023 18:49:53.000

Closing Share Prices as at Friday, 9th of June 2023.

AFRINVEST RESEARCH
09-Jun-2023 15:45:02.000

Chart Of The Day - ASI Chart Vs ASI Advance Decline Line (YTD) (09-Jun-2023 15:08:20.399)

INFOWARE TERMINAL
09-Jun-2023 15:08:20.000

Chart Of The Day - ASI Chart Vs ASI Advance Decline Line (YTD) (09-Jun-2023 15:08:18.198)

INFOWARE TERMINAL
09-Jun-2023 15:08:18.000

InfoWARE Analyst Daily Market Report (09-Jun-2023 15:08:12.493)

INFOWARE TERMINAL
09-Jun-2023 15:08:12.000

Breaking News! Unusual Volume Alert (09-Jun-2023 14:08:17.177)

INFOWARE TERMINAL
09-Jun-2023 14:08:17.000

Breaking News! Bulls Momentum Alert (09-Jun-2023 14:08:16.462)

INFOWARE TERMINAL
09-Jun-2023 14:08:16.000

Breaking News! Unusual Volume Alert (09-Jun-2023 13:38:17.768)

INFOWARE TERMINAL
09-Jun-2023 13:38:17.000

Breaking News! Bears Momentum Alert (09-Jun-2023 13:38:17.003)

INFOWARE TERMINAL
09-Jun-2023 13:38:17.000

Breaking News! Unusual Volume Alert (09-Jun-2023 13:08:17.035)

INFOWARE TERMINAL
09-Jun-2023 13:08:17.000

Breaking News! Bears Momentum Alert (09-Jun-2023 13:08:16.310)

INFOWARE TERMINAL
09-Jun-2023 13:08:16.000

Breaking News! Unusual Volume Alert (09-Jun-2023 12:38:16.815)

INFOWARE TERMINAL
09-Jun-2023 12:38:16.000

Breaking News! Unusual Volume Alert (09-Jun-2023 12:08:16.637)

INFOWARE TERMINAL
09-Jun-2023 12:08:16.000

Breaking News! Bulls Momentum Alert (09-Jun-2023 12:08:16.092)

INFOWARE TERMINAL
09-Jun-2023 12:08:16.000

Breaking News! Bears Momentum Alert (09-Jun-2023 12:08:15.909)

INFOWARE TERMINAL
09-Jun-2023 12:08:15.000

Breaking News! Unusual Volume Alert (09-Jun-2023 11:38:17.004)

INFOWARE TERMINAL
09-Jun-2023 11:38:17.000

Breaking News! Bulls Momentum Alert (09-Jun-2023 11:38:16.390)

INFOWARE TERMINAL
09-Jun-2023 11:38:16.000

Breaking News! Unusual Volume Alert (09-Jun-2023 11:08:16.594)

INFOWARE TERMINAL
09-Jun-2023 11:08:16.000

Breaking News! Bears Momentum Alert (09-Jun-2023 11:08:15.853)

INFOWARE TERMINAL
09-Jun-2023 11:08:15.000

Breaking News! Unusual Volume Alert (09-Jun-2023 10:38:16.592)

INFOWARE TERMINAL
09-Jun-2023 10:38:16.000

Breaking News! Bulls Momentum Alert (09-Jun-2023 10:38:15.893)

INFOWARE TERMINAL
09-Jun-2023 10:38:15.000

Daily Business News Highlights

SAMTL
09-Jun-2023 10:04:50.000

Breaking News! Unusual Volume Alert (09-Jun-2023 10:08:17.809)

INFOWARE TERMINAL
09-Jun-2023 10:08:17.000

Breaking News! Bulls Momentum Alert (09-Jun-2023 10:08:15.930)

INFOWARE TERMINAL
09-Jun-2023 10:08:15.000

Breaking News! Bears Momentum Alert (09-Jun-2023 10:08:15.721)

INFOWARE TERMINAL
09-Jun-2023 10:08:15.000

MORNING FLASH - NEWS HEADLINES ....Total Energies commits to renewable assets, shareholders okay N7.13b dividend

SECURITIES AFRICA NIGERIA RESEARCH
09-Jun-2023 09:14:00.000

Media Highlights 09-06-2023

CARDINALSTONE RESEARCH
09-Jun-2023 08:59:01.000

Daily Business News Brief

GLOBALVIEW CAPITAL LIMITED
09-Jun-2023 08:45:03.000

Nigeria Daily Market Report | Local Bourse Extends Bearish Performance ASI down 12bps

AFRINVEST RESEARCH
08-Jun-2023 18:42:13.000

MARKET SUMMARY - JUNE 08, 2023...NGX ASI LOSE -0.12%; 6 STOCKS GAINED MAXIMUM +10.00%, ETERNA STILL INVISIBLE, RETURNS +39.25 IN 4 DAYS.....

SECURITIES AFRICA NIGERIA RESEARCH
08-Jun-2023 17:53:54.000
Get IDIA - the stock trading app for the modern investor
Company
Contacts
  • 8th Floor,
  • South Atlantic Petroleum Towers,
  • 1 Adeola Odeku Street,
  • Victoria Island,
  • Lagos, Nigeria.

  • Email: solutions@infowarelimited.com
Follow Us
 
facebook twitter skype youtube
Market data may be delayed up to 15 minutes