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Daily Business News Brief- October 27th, 2022


NGX closes positive with market cap up by N39 billion – Nairametrics
The Nigerian Bourse (NGX) closed positive amidst buy-interests and sell-offs as bulls dominated proceedings, driving up the broad market by 16 basis points. The All-share Index (ASI) appreciated by 0.16% to close at 44,859.78 points.    In the same vein, market capitalization grew by N39.02 billion to close at N24.43 trillion, while the year-to-date (YtD) returns settled at 5.02%. The stock market has advanced by 2,143.34 base points since the start of the year..………..Read More

CBN to release re-designed Naira notes December – Punch
The Governor, Central Bank of Nigeria, Godwin Emefiele, has announced that the bank would release re-designed Naira notes by December 15, 2022.  He also said that existing notes would seize to be regarded as legal tender by January 31, 2023.  Emefiele disclosed this during a press briefing in Abuja on Wednesday.………..Read More

Cooking gas price increases by 61% – Punch
The price of 12.5kg of cooking gas rose by 61 per cent to N9,906 in September 2022 from N6,165 in September 2021.  This was disclosed by the National Bureau of Statistics in its report on Liquefied Petroleum Gas (cooking gas) Price Watch for September 2022.  In its state profile analysis, the bureau stated that Cross River recorded the highest average retail price for the refilling of a 12.5kg cylinder of the product with N10,937, followed by Kogi with N10,760 and Oyo with N10,724……….Read More

GTCO records N169.7bn Q3 profit – Thisday
Guaranty Trust Holding Company Plc said it recorded N169.7bn profit in the third quarter.  It disclosed this in a statement on its unaudited consolidated and separate financial statements for the period ended September 30, 2022, to the Nigerian Exchange Group and London Stock Exchange. “The Group reported profit before tax of N169.7bn, representing an increase of 11.7 per cent over N151.9bn recorded in the corresponding period ended September2021,” it stated………..Read More

NGX builds capital market capacity – Punch
Nigerian Exchange Limited has expressed its commitment to building the capacity of stakeholders in the capital market.  It organised a webinar on the impact of the 2021 Finance Act on the operating environment themed ‘Capital market advancement and the implications of the 2021 Finance Act’ organised in conjunction with the Association of Securities Dealing Houses, Chartered Institute of Stockbrokers, and PricewaterhouseCoopers……….Read More

Guinness Nigeria shareholders to get N15.639 billion dividend- Nairametrics
Shareholders of Guinness Nigeria Plc, a subsidiary of UK-based Diageo Plc, have endorsed a proposed dividend payout of N15.6 billion, representing N7.14 kobo per share of 50 kobos each.  Nairametrics gathered that the shareholders approved the dividend payout during the company’s recently held Annual General Meetings (AGM)…….…..Read More
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