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Daily Business News Brief Friday, August 20, 2021


Stock market hits four-month high, investors gain N65bn – Punch

Equity investors in the Nigerian Exchange Limited gained N64.93bn on Thursday as the NGX All-Share Index rose by 0.32 per cent to 39,670.29 basis points, its highest since April 26, 2021. The market capitalisation of equities increased to N20.67tn on Thursday from N20.60tn the previous day. Trading volume jumped by 52.90 per cent from 132.01 million shares worth N2.67bn traded in 3,307 deals on Wednesday to 201.84 million shares valued at N1.68bn in 3,274 deals……………..read more

Fed Govt raises N669b from capital market through Sukuk bonds- The Nation

The Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, said the Federal Government raised the sum of N669 billion from the Nigerian capital market through issuance of Sukuk Bonds.  Ahmed said this at the Chartered Institute of Stockbrokers (CIS) 2021 national workshop on Thursday. The theme of the national workshop was: “Leveraging the Financial Markets to Achieve Double- Digit Economic Growth for Nigeria.”  She said the Federal Government through the Debt Management Office (DMO) raised N669 billion from the capital market between 2018 and 2020………………read more

Oil price tumbles to $65, lowest in three months – Punch

The international oil benchmark, Brent crude, sank on Thursday to its lowest level since May as demand fears and comments from the United States Federal Reserve that it will suspend its bond-buying programme sent prices tumbling.The further decline in prices also came as the spread of the delta variant of the coronavirus that causes COVID-19 underlined worries about the demand outlook, and as the US dollar rallied. Crude came under pressure amid weakness in the commodities market and equities more generally, CNBC reported…………………read more

Why FIRS Wants Law To Introduce Road Tax – Daily Independent

First City Monument Bank (FCMB) has granted N3 billion loan to the Association of Waste Managers of Nigeria (AWAMN) in Lagos  State. The credit, facilitated by the Lagos State Waste Management Agency (LAWMA), will boost the working capital of Private Sector Participants (PSPs) in waste collection, aggregation, and recycling. The loan will enable them buy modern equipment such as trucks and up-skill their human resources for smooth and efficient waste management………………read more

Stanbic IBTC, EDC Trains over 3,500 Entrepreneurs- Thisday

Head, Enterprise Banking, Stanbic IBTC Bank Plc, Emeka Obasi has reiterated the bank’s commitment to providing the proper support and solutions for individuals and businesses to achieve their goals. In a statement, he said Stanbic IBTC established SME Capacity Building series, which has trained over 3,500 entrepreneurs in the country.“As part of its commitment to help stimulate and grow a solid and active small and medium scale enterprises sector in Nigeria, the bank established SME Capacity Building series, which has trained over 3,500 entrepreneurs in the country………………….read more

fake richard mille
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