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Daily Business News Brief | Wednesday, June 29th, 2022


Popoola: NGX Committed to Expanding Capital Market, Provide Inclusive Platform for SMEs – Thisday

The Chief Executive Officer, Nigerian Exchange Limited (NGX), Mr. Temi Popoola has reiterated its commitment to expand the Nigerian capital market and providing inclusive platforms for a diverse stakeholders, including Small and Medium-sized Enterprises (SMEs), to access capital.  Popoola who said this during his keynote address at the 2022 Annual Business Luncheon organised by the Capital Market Solicitors Association in Lagos, said, “It is important that capital markets are able to play a role in catalyzing growth within this sector………read more

Investors Trade Foreign Exchange Worth N24.93trn in 5 Months on Growing Demand – Thisday

Following growing demand investors have in five months to May 31, 2022, traded Foreign Exchange (FX) worth N24.93 trillion as against N21.36 trillion traded in the same period of 2021 via the Investors & Exporters (I& E) window, indicating an increase of N3.57 trillion or 16.71 per cent.  This is according to the FMDQ Exchange Fixed Income and Currencies (FIC) monthly report, made available to newsmen in Lagos……………..read more

CBN, Bankers Committee Sensitises Lagos Markets on ENaira – Thisday

In a bid to enhance the adaptation of eNaira the Central Bank of Nigeria (CBN) in collaboration with the Bankers Committee over the weekend conducted an eNaira roadshow at Balogun and Tejuosho markets in Lagos State.  The team, comprising CBN staff and representatives of some commercial banks over the weekend took the roadshow to Tejuosho market, Yaba market…………..read more

Proposed tariff hike may raise telcos’ voice revenue to N1.55tn – NCC report – World Bank – Punch

Telecommunications companies’ voice revenue could jump by at least N442.57bn to N1.55tn in a year if the price floor of calls is raised by the operators from N6.4 to N8.95.  Telcos had recently written a letter to the Nigerian Communications Communication Commission, seeking approval to increase their tariff due to the rising price diesel and the general increase in the cost of doing business in Nigeria. If the NCC approves the proposal, telcos will increase their tariff on voice, SMS, and data…………read more

Analysts Forecast 2.7% Year-on-Year Economic Growth for Nigeria – Punch

Analysts at Vetiva Africa Research have forecasted a 2.7 per cent Year-on-Year (YoY) increase in Nigeria’s economy, driven by volatile oil production, sustained growth in Active GSM lines, and slight depreciation in the Naira.  The forecast is in line with the International Monetary Fund (IMF) output growth for 2022 to 2.7 per cent from 2.6 per cent projected in October 2021…………read more

fake richard mille
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