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Daily Business News Brief- October 21st, 2022


AMCON sells Polaris Bank N50bn to new investor – Punch
The Central Bank of Nigeria and the Asset Management Company of Nigeria have formally announced the completion of a Share Purchase Agreement for the acquisition of 100 per cent of the equity in Polaris Bank by Strategic Capital Investment Limited.  The House of Representatives on Wednesday okayed the sale of Polaris Bank, noting that the acquisition followed laid down procedure and the relevant presidential approval.………….Read More
Exchange rates between Naira and Dollar on 21st October 2022 – Nairametrics
The exchange rate between the naira and the US dollar at the black market gained 0.13% to trade at N742/$1 on Friday, 21st October 2022, from N743/$1 recorded in the previous trading session. This is according to information from black market traders who spoke to Nairametrics. ………. Read More
Relief as Shell Resumes Crude Oil Export at 400,000bpd Forcados Terminal – Nairametrics
Hope for the addition of 500,000 barrels per day (bpd) of crude oil to Nigeria’s daily output by the end of November to earn more revenue to finance the 2023 budget, has risen as Shell Petroleum Development Company Limited (SPDC) Thursday resumed crude oil exports at the Forcados Oil Terminal. ……….Read More
eNaira: CBN Woos Tri-cycles Operators, Offers 5% Discounts on Transactions – Thisday
In a bid to deepen the adoption of eNaira in the country, the Central Bank of Nigeria (CBN) has offered a five per cent discount to tri-cycles operators popularly known as Keke NAPEP as well as their customers, should they use the digital currency as means of payment.  The bank has announced the commencement of a nationwide awareness campaign to drive the adoption of the digital currency at the grassroots…………Read More
Lafarge Nigeria’s stock plunges amid $778m US fine – Punch
Lafarge Africa Plc’ stock price plunged at the Nigerian Exchange Limited at the close of market on Tuesday, following a fine of $778m by the United States over terrorism charges.  The company’s share price dipped by 2.13 per cent, losing 0.5 Kobo per share to close at N23 per share against N23.5 Kobo per share it recorded in previous day.  Meanwhile, the shares of Holcim Group, the company that recently bought Lafarge, were temporarily suspended on the Swiss stock exchange after news of the fine emerged………..Read More
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