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Daily Business News Brief | Wednesday December 29th, 2021.

29
Dec

Seven Companies Delist, Three Lists on NGX in 2021- Thisday

A total of seven companies delisted and three were listed on the Nigerian Exchange Limited (NGX) in 2021 amid expectation that the stock market might close the year positive. The stock market before the two-day public to mark the Christmas celebration in its Year-till-Date performance stood at 4.95 per cent. However, out of the seven delisted companies, the management of the Exchange forcefully delisted four, while three voluntary delisted. Capital market analysts, to management decision to delist and failure to comply with the post-listing requirement………………. read more

PoS transactions hit N13.67tn in three years, cheque usage drops – Punch

Nigerians have continued to abandon cheque transactions as Point of Sale transactions rise to N13.67tn in three years, according to data obtained from the Nigeria Inter-Bank Settlement System Plc portal. The data showed that the aggregate PoS transactions between January 2019 and November 2021 was N13.67tn while total cheque transactions within the same period was N10.67tn. In its ‘Instant Payments – 2020 Annual Statistics’, the NIBSS said, “The COVID-19 pandemic changed the e-payments landscape, accelerating the adoption of instant payments as more people transitioned to electronic channels for funds exchange in the wake of government imposed lockdowns.”…………….read more

Factors that’ll shape stock market, economy in 2022 –Experts

Some capital market operators have listed events that will shape the stock market and the economy in 2022.  Speaking with the News Agency of Nigeria on Tuesday in Lagos, they said the market and the economy would be impacted by the Monetary Policy Committee, 2022 budget implementation, consumer price index, among others. Mr Ambrose Omordion, Chief Operating Officer, InvestData Ltd., said budget implementation, economic data, political activities, and fuel subsidy removal would determine activities in the coming year. He added that OPEC meetings, December year-end corporate earnings, interest rate, and industrial output would also shape economic activities in 2022……………read more

CBN disburses N108.65bn to hospitals, pharmaceutical firms – Vanguard

The Central Bank of Nigeria has said it disbursed N108.65bn to hospitals and pharmaceutical industry in 18 months.A CBN report said this was disclosed at the last Monetary Policy Committee meeting.  It said, “The bank has also cumulatively disbursed the sum of N108.65bn to hospitals and pharmaceutical industry; 54 of the 117 projects funded are for hospital services.n “The committee was gratified that the funding under health sector has resulted in the establishment of two new cancer centres, over 59 MRI and more than 42 CT scan centres in Nigeria, within the last 18 months.”…………..read more

AMCON Gulps N654bn from 12 Banks as Sector Resolution Funds in 4 years -Thisday

With the growing assets due to business expansions, among other factors, Assets Management Corporation of Nigeria (AMCON) between 2020 and 2017 has collected N6654billion from 12 banks operating in the country.  The 12 banks are Access bank Plc, United Bank for Africa Plc, Zenith bank Plc, FBN Holdings and Guaranty Trust Holdings Plc.  Others are Fidelity Bank Plc, Stanbic IBTC Holdings Plc Union Bank of Nigeria FCMB Group Plc, Sterling Bank Plc Wema Bank Plc and Unity Bank Plc…………….read more

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