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Daily Business News Brief- October 17th, 2022


Stock investors gain N119bn in one week – Punch
For the close of the week, the stocks at the Nigerian Stock Exchange closed on a green trend following a gain of 46bps or 0.4 per cent week-to-date, with investors recording N119bn in one week.  Similarly, sectoral performance also experienced mixed performance as three indices closed in green and two closed in red Week-To-Date.  The Industrial index topped the gainers’ chart, gaining 317 basis points, with value traded at N8.4m units and volume traded amounting to 386,001 units.………….Read More
CBN eyes 7,740 agents to drive eNaira adoption – Punch
The Central Bank of Nigeria is targeting no fewer than 10 agents in the 774 local government areas in Nigeria to drive the eNaira adoption.  In total, the bank is planning to engage more than 7,740 agents with a view to onboarding people at the grassroots on the eNaira platform.  Speaking at the Keke NAPEP riders’ eNaira onboarding at Galadimawa Junction in Abuja on Saturday, a Central Bank of Nigeria consultant, Dr Aminu Bizi, said the CBN had provided a 5 per cent subsidy for those using the digital currency platform………..Read More
Revenue Growth Boosts Geregu’s Profit – Thisday
Geregu Power Plc’s audited result and accounts showed an impressive increase in profit, driven by a significant increase in the company’s revenue and cost effectiveness of its operating expenses.  The newly listed energy company on the Nigerian Exchange Limited (NGX) announced its full year ended December 31, 2021 results that revealed about 42.9 per cent and 45.5 per cent increase in profit before tax and profit after tax, respectively over 32.2 per cent growth in revenue………..Read More
Nigeria’s N42trn Domestic Debt Red Flag to Incoming President’ – Thisday
The Founding Managing Director, Agusto and Co, Mr. Olabode Agusto, has said the rise in domestic debt will be a burden for the next president of Nigeria. He noted that with the country currently battling with inflation and unemployment, domestic debt of the federal government estimated at N42 trillion, cautioning there will be an increase in revenue generation…………..Read More
Soaring Inflation and Burden on Monetary Policy – Thisday
Central banks globally faced with high inflation are tightening monetary policy rapidly to damp demand and bring it into alignment with supply. Owing to this, many central banks around the world have pivoted monetary policy in order to maintain anchored expectations as Russia’s invasion of Ukraine early this year heightens risks across the world …….…..Read More
United Capital boosts revenue from fee, commission income in 9 Months – Nairametrics
United Capital Plc, has announced its Unaudited Financial Results for the period ended September 30, 2022, with Profit After Tax of N7.72 billion in 9 Months of 2022, compared to N5.97billion in 9 Months of 2021 representing 29% growth year-on-year.  The result is on the back of an inflationary year, where businesses and their consumers have had to deal with the rising cost of goods and services………..Read More
fake richard mille
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