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Daily Business News Brief |  Tuesday, March 15th,  2022.


NGX, MTNN sign MoU on capital market participation-  Thisday

Nigerian Exchange Limited and MTN Nigeria Communications Plc have signed a Memorandum of Understanding to promote financial literacy and enhance retail participation in the Nigerian capital market. A statement said the announcement was made at the signing ceremony led by the Chief Executive Officer, NGX, Mr Temi Popoola and the Chief Executive Officer, MTNN, Mr Karl Toriola.  According to the statement, the MoU is a two-year partnership for NGX and MTNN to collaborate to develop capital market solutions, leverage technology to support data dissemination and technology-as-a-service, promote capacity development, and eliminate barriers to retail participation in the capital market………………. read more

CBN sets N1m limit for cash collection centres- Vanguard

The Central Bank of Nigeria has pegged the minimum transaction limit for corporate and individuals transacting with Bank Neutral Cash Hubs at N1m and N500,000 respectively. The banking regulator disclosed this in a guideline for the registration and operation of Bank Neutral Cash Hubs in Nigeria released on Monday.  It said, “The threshold for eligible transactions at a BNCH shall be as follows: A minimum transaction value of N500,000 for individuals; a minimum transaction value of N1m for corporate entities.”……………. read more

FMDQ admits Coleman’s N6.05bn commercial paper- Punch

Coleman Technical Industries Limited has announced that FMDQ Exchange has admitted its N6.05bn Series 3 and 4 Commercial Paper under its N20bn CP Issuance Programme.  In a statement, the Managing Director/Chief Executive Officer of Coleman, Mr George Onafowokan, said this would enable the company to increase its capacity with additional working capital.  He added that the commercial paper provides alternative funding from the debt capital market via Pension Fund Asset managers, Asset managers, and other fund managers……………… read more

Negotiations with labour on fuel subsidy removal still ongoing – Thisday

The Federal Government is still in negotiations with the organised labour as regards the removal of subsidy on Premium Motor Spirit, popularly called petrol, it was gathered on Sunday. Officials of the Nigerian National Petroleum Company Limited and the Nigerian Midstream and Downstream Petroleum Regulatory Authority stated that the removal of subsidy on petrol had been an explosive issue.  This, they said had made the government engage in negotiations with the organised labour on the matter despite the persistent rise in the amount being spent on subsidy amidst the recent increase in global crude oil prices……………. read more

Lafarge Africa: Trade, Other Receivables Slow Down Revenue – Daily Independent

With about 43.11 per cent increase in trade & other receivables, Lafarge Africa Plc recorded a slow growth in revenue but maintained effective finance management in finance cost and income to boost profit and shareholders return on investment ……………………read more


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