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Daily Business News Brief – March 1st, 2023


Bullish rally slows as investors lose N162 billion – Guardian
After several days of upbeat, the Nigerian equities market halted its bullish streak to reopen the month of March on a downward slide, yesterday, as investors’ fortune declined by N162 billion.. ……………..……..Read More

Nestle Nigeria Plc to pay dividend of N36.50 per 50kobo ordinary shares – Nairametrics
Nestle Nigeria Plc has announced a final paypout of N36.50 per 50kobo ordinary shares The company said the payout is subjected to appropriate withholding tax and will be paid to shareholders whose names appears on the register of the members at close of business on Friday, 21st April 2023… …….. …………….……..Read More

Experts decry continuous impact of cash scarcity on economy – Guardian
As the scarcity of cash continues to bite harder, experts have warned that the national economy will suffer the long-term negative effects if nothing is done to address the situation urgently. Following the redesign of the national currency and the withdrawal of the old currency notes, there has been scarcity of cash running into two months …………………..……..Read More

Market Operators explain why CBN’s new guideline to retire top bank executives became necessary – Nairametrics
Some market operators have said that the new guidelines issued by the Central Bank of Nigeria (CBN) on the tenure of the Executive Management and Non-Executive Directors of banks and financial institutions were borne out of the abuse of power by the bank’s management and also aimed at strengthening the corporate governance of the institution.. ………………..……..Read More

Mobil asset acquisition awaiting FG approval – Seplat MD – Punch
Seplat Energy Plc has said the sale and purchase agreement to acquire the entire share capital belonging to Mobil Producing Unlimited, Nigeria for $1.28 million, plus up to $300 million contingent consideration, was still awaiting presidential approval… …………….……..Read More
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