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Daily Business News Brief |  Thursday, January 6th,  2021.

6
Jan

BUA Foods lists 18 billion shares on stock exchange- Punch

BUA Foods Plc was on Wednesday listed on the Main Board of the Nigerian Exchange Limited, with its total issued capital admitted to trading. A total of 18 billion ordinary shares of BUA Foods were listed at N40.00 per share under the consumer goods sector of the NGX, with the trading symbol ‘BUAFOODS’. The company said in a statement that it had satisfied the listing requirements of the Exchange and obtained relevant regulatory approvals.  The listing by introduction means that the shares of existing BUA Foods’ shareholders has been listed without an additional public sale of shares. Henceforth, all BUA Foods shareholders will be free to trade their shares on the Exchange,” the company said………………. read more

With N142.6bn Worth of Trade, CardinalStone Securities Emerges Second-best Broker in 2021 – Thisday

CardinalStone Securities Limited traded N147.6billion worth of transaction in the equities market of the Nigerian Exchange Limited (NGX) to emerged second-best broker in 2021.  According to the broker performance report, released by the Exchange, the firm emerged as number one by trade volume, executing more than 15.23 billion units of shares in 2021.  A total of 10 stockbrokers on the NGX traded N1.01 trillion value and 76.3billion volume of transactions in 2021……………… read more

Experts give Nigerians tips on stock investment – Vanguard

Experts in the financial sector have highlighted the benefits of investing in the stock market and how Nigerians can go about it.  They spoke at a virtual event was organised by Stanbic IBTC Stockbrokers to enlighten Nigerians on the potential of investing in the stock market.  The Head, Sales Trading, Stanbic IBTC Stockbrokers, Afolabi Gbenro, while explaining the importance of diversifying investments in stocks, listed factors that affect the prices of stocks to include supply, demand, news, and investor sentiments……………read more

New tax on carbonated drinks’ll worsen economy – MAN, experts – Thisday

The Federal Government has introduced an excise duty of N10 per litre on all non-alcoholic, carbonated and sweetened beverages.  Excise duty is a form of tax imposed on the production, licensing and sale of goods.  The Minister of Finance, Budget and National Planning, Zainab Ahmed, said this during the public presentation of the 2022 budget on Wednesday in Abuja.  According to her, the new policy introduced is in the Finance Act signed into law by President Muhammadu Buhari on December 31, 2021……………read more

Crude oil dip on profit-taking after OPEC+decision – Daily Independent

The Central Bank of Nigeria has stated that banking industry credit in 2021 reached N 23.5 trillion with Other Financial Institutions (OFIs); comprising of Microfinance Banks, Development Banks, Merchant banks and mortgage banks contributing N2.79 trillion, representing 10.62 per cent of banking industry credit.  This was revealed in the personal statements of Monetary Policy Committee (MPC) members at their last meeting held in November last year released recently.  A member of the MPC, Adenikinju Festus, in his statement at the end of the meeting noted that as at October last year, banking industry credit had been on the rise…………….read more

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