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Daily Business News Brief |  Tuesday, February 9th,  2022.

9
Feb

Stock Market Down N79bn on Profit-taking in BUA Food, Others – Thisday

The stock market of the Nigerian Exchange Limited (NGX) yesterday sustained the down trend of prior day as profit-taking witnessed in BUA Foods Plc and 20 others caused a N79billion decline in the market capitalisation. The overall market capitalisation value lost N79 billion to close at N25.357 trillion, while the NGX All-Share Index declined by 146.15 basis points or 0.31 per cent, to close at 47,057.24 basis points……………. read more

IBTC Pension Leads Top Five PFAs in Control of Pension Market – Punch

The National Pension commission (PenCom) in its recent report on the overall performance of Pension Fund Administrators (PFAs) in terms of market share of contributors into the Contributory Pension Scheme from inception up to September 30, 2021, said that five high performing PFAs have continued to hold their lion share positions of the entire market with the Stanbic IBTC Pension Managers maintaining the lead. …………… read more

Investors commit N3.36tn to FG bonds in 12 months – Daily Independent.

Investors committed about N3.36tn to Federal Government bonds between January and December 2021, according to an analysis of the FGN Bond Auction results available on the website of the Debt Management Office.  Bond oversubscriptions hit N1.61tn within the period under review, indicating the investors’ strong appetite for FGN bonds……………read more

Adulterated petrol: FG may return fuel to suppliers, 100 million litres affected, say marketers  –  Punch

The Federal Government through its Nigerian Midstream and Downstream Petroleum Regulatory Authority may return to the overseas supplier, the contaminated Premium Motor Spirit, popularly called petrol, which was imported into the country by the Nigerian National Petroleum Company Limited.  Oil marketers estimated that about 100 million litres of contaminated petrol were imported into Nigeria and had been recalled by the Pipelines Product Marketing Company, a subsidiary of the NNPC.  The recall caused severe queues in Abuja, Lagos, Niger, Nasarawa and many other states, as the few petrol outlets that dispensed products were crowded by motorists and other PMS users………………read more

Low Yield Environment: PFAs Shun T-Bills as Investment in Stocks Rose by 51.4% – Punch

On the back of a low yield environment, Pension Fund Administrators (PFAs) in the country shifted investments to stocks listed on the Nigerian Exchange Limited (NGX), among other Exchanges in 2021, as their exposure increase by 51.4 per cent in 11 months.  Analysts have expressed that the moves by the PFAs was in a bid to escape the unattractive yield environment that prevailed in the Treasury Bills (T-Bills) market in 2021………………. read more

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