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Daily Business News Brief – February 23rd, 2023


Bulls rebound as gains in 18 stocks lift indices by N69 billion – Guardian
The Nigerian Exchange Limited (NGX) yesterday, bounced back as a result of gains in Geregu and 17 stocks, as market capitalisation appreciated by N69 billion.  Besides, Geregu Power Plc has notified the Exchange and the investing public of the purchase of five per cent of its shares by the Fund for Export Development in Africa (FEDA)…….. …………….……..Read More

Firm acquires 32.99% stake in Courteville – Punch
Bows Nigeria Limited is set to take over 1,171,939,459 shares of Courteville Business Solutions Plc, at 48 kobo per share which is equivalent to 32.99 per cent stake. This was revealed in a statement issued by the Company Secretary, Jackson, Etti & Edu, on Tuesday…….. …………….……..Read More

Geregu Power gains 10% in market value as Afrexibank’s 5%nstake acquisition spurs investors’ interest – Nairametrics
Geregu Power Plc is witnessing investors’ positive sentiments following the announcement that Afreximbank has completed the acquisition of a 5% minority stake in the company………………..……..Read More

SEC, PenCom to collaborate on commodities growth – Punch
The Securities and Exchange Commission has expressed its readiness to collaborate with the National Pensions Commissions to develop the commodities ecosystem. In a statement issued on Wednesday, the Director-General, SEC, Mr Lamido Yuguda, stated this when the commission along with the Lagos Futures and Commodities Exchange held a meeting with Pencom in Abuja……………………..Read More

Real sector takes back seat as economy posts 3.1% growth – Guardian
• Agric, industry sluggish growth questions inclusiveness Led by the services sector, Nigeria’s output expanded by 3.1 per cent last year, which aligns with the expectations of the market. On its face value, the growth figure, which is about 0.5 percentage point higher than the population growth, suggests economic development is looking up. …………….……..Read More
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