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Daily Business News Brief- September 13th, 2022


Stock Market Slips by 0.14% to Commence Week on Negative Note – Thisday
The stock market of the Nigerian Exchange Limited (NGX) yesterday opened the week on a negative note, reversing prior session gains as the All-Share Index depreciated by 0.14 per cent.  The NGX All-Share Index (ASI) decreased by 69.41 basis points or 0.14 per cent to close at 49,625.71 basis points. Similarly, the overall market capitalisation size shed N38 billion to close at N26.767 trillion…………Read More

MTN Nigeria Considers N23bn CP Issuance – Thisday
MTN Nigeria Communications Plc has announced plans to issue N23billion series 3 Commercial Paper (CP) notes under its N150billion CP issuance programme.
The Company who announced the plans on the floor of the Nigerian Exchange Limited (NGX) said the CP is an unsecured debt instrument issued typically for the financing of a firm’s short-term liabilities………….Read More

Passport issuance rises by 38%, more Nigerians relocate – Punch
The value of manufactured goods traded tumbled by 36 per cent from N4.51tn in the second quarter of 2021 to N2.87tn in the corresponding period of 2022, findings by The PUNCH have shown.  This is according to the foreign trade report by the National Bureau of Statistics for the second quarter of the year and its corresponding quarter of 2021.  Foreign trade statistics measure goods traded between an economic entity and its economic counterparts within a given period…………Read More

Report: 83% of New Phone Subscribers in July Chose Glo – Thisday
The latest report by telecommunications industry regulator, Nigerian Communications Commission (NCC), indicates that more new phone subscribers settled wih Globacom  in the month of July.  According to the report published on NCC’s website, Globacom added 2,103,721 million new customers in July to take its subscriber base to 58,330,200 from 56,226,479 the previous month. This represents 83 per cent of the total number of 2,523,276 new phone users recorded in the country in July………….Read More

Business executive cautions govt on capital gain tax – Vanguard
The Chairman, Edgefield Capital Management Limited, Gboyega Isiaka, has advised the Federal Government to exercise caution and reconsider the reintroduction of capital gains tax to capital markets securities and instruments. A statement said he gave this advice while making his contribution to the session on Finance Act 2021: Capital gains tax, at the 26th annual conference of the Chartered Institute of Stockbrokers, in Benin City, Edo State……….…..Read More
fake richard mille
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