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Daily Business News Brief -December 23rd, 2022

23
Dec


Stock market investors gain N13bn – Punch
Nigeria’s stock investors have recorded N13bn gain after the close of the market at the floor of Nigeria Exchange Limited on Thursday. This was the seventh consecutive trading day, the stock market sustained its bullish run as capitalisation rose by N13bn at the end of trading activities yesterday……………..Read More

World Bank approves $311m for West Africa – Punch
World Bank has approved $311m to increase grid-connected renewable energy capacity for West Africa in International Development Association financing. It noted that existing and prospective electricity in Chad, Liberia, Sierra Leone, and Togo would benefit from the new Regional Emergency Solar Power Intervention Project…….……..Read More

Analysts: Foreign Investor Drought May Have Spared NGX of Global Systemic Risk – Thisday
Analysts have expressed that foreign investors’ exit from the Nigerian Exchange Limited (NGX) has spared the stock market from global systemic risk. Amidst volatility in stock markets across advanced countries caused by risk assets sell-offs by investors, the Nigerian stock market is recording its best performance in two years with a 15.88per cent Year-till-Date (YtD) return as of yesterday……………..Read More

CBN exchange rate policies cost Nigeria $144.1bn since 2017 says World Bank – Businessday
The controversial foreign exchange management policy of the central bank denied the various tiers of government in Nigeria a staggering $144.1bn between 2017 and the first quarter of last year according to a report by the World Bank……………..Read More
fake richard mille
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