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Daily Business News Brief | Monday, April  11th, 2022.

11
Apr

Stock investors lose N114bn in one week – Thisday

Investors lost N114bn at the end of trading on the floor of the Nigerian Exchange Limited last week.  The NGX All-Share Index and market capitalisation of equities listed on the NGX depreciated by 0.45 per cent to close at 46,631.46 and N25.139tn last week. All other indices finished higher with the exception of NGX 30, NGX Insurance, NGX Consumer Goods, NGX Lotus II, NGX Industrial Goods, and NGX Sovereign bond indices, which depreciated by 0.43 per cent, 0.21 per cent, 0.35 per cent, 1.40 per cent, 0.42 per cent and 0.05 per cent respectively, while NGX Asem, and NGX Growth indices closed flat……………read more

NGX Lists N1.7 Trillion, $4 BillionEurobond in Q1 – Punch

The Nigerian Exchange Limited (NGX) has announced that it listed issuance worth N1.701 trillion and $4billion Eurobonds on its platform in the first quarter (Q1) 2022. In a statement, the NGX said tthe issuance listed across both the bonds and equities markets are integral in deepening the market, improving liquidity and tradability, as well as increasing access to capital to fund growth initiatives. …………….. read more

GTCO Shareholders Approves N3 Dividend Payment, Applaud Holdco Transition – Thisday

Shareholders of Guaranty Trust Holding Company (GTCO) Plc have unanimously endorsed the payment of a total dividend of N3 per share for the financial year ended December 31, 2021. This endorsement was made at the holding company’s 1st Annual General Meeting (AGM) held in Lagos. The Group had proposed a final dividend of N2.70 per unit of ordinary share held by shareholders in addition to the interim dividend of 30 kobo interim dividend paid in June, bringing the total dividend for the 2021 financial year to N3.00 per unit of ordinary share. ………………..read more

Shareholders, Experts Divided as AMCON Gulps N327.6bn from 9 Banks in Two Years -Vanguard

Key stakeholders in the capital market and shareholders in publicly quoted banks and other financial institutions are currently at loggerheads over the continued existence of the Assets Management Corporation of Nigeria (AMCON) on the backdrop of the huge levy it impose on Nigerian banks. This is coming on the heels of corporation raking N327.6billion from nine banks between 2020 and 2021 financial year ended December 31. …………………read more

Banks’ Customers Complaints Up 115% on Transaction Hitches, Excess Charges, Others – Thisday

Following mounting daily transactions hitches, excess charges, among other sharp practices by Nigerian banks, nine banks’ customers’ complaints rose by 115 per cent to 5.39 million in 2021 from 2.5 million reported in 2020, the banks’ 2021 result has revealed. …………………….read more

Nigeria’s non-oil exports fall by 39%, dollar shortage may worsen- Punch

NIGERIA’S non-oil exports have fallen by 39 per cent from N6.914tn to N4.194tn in10 years, according to an analysis of the National Bureau of Statistics’ Foreign Trade Statistics by Financial PUNCH.  Specifically, figures show that the N4.194tn non-oil exports recorded in 2021 is 39.34 per cent lower than the N6.914tn non-oil exports recorded in 2012………………………..read more

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