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Daily Business News Brief – March 7th, 2023

Home   /   Business News Brief   /   Daily Business News Brief – March 7th, 2023
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March 7, 2023
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Equities reopen upbeat as gains in MTNN, others lift indices by N41b – Guardian
 
The Nigerian equities market rebounded at the reopening of transactions, yesterday, as bargain hunting in MTN Nigeria and 15 stocks pushed market capitalisation by N41 billion…. ……………..……..Read More

Nigerian Breweries Recommends N13.87bn Dividend Payment to Shareholders – Thisday
 
The Board of Directors of Nigerian Breweries Plc has approved the results for the 2022 financial year, recommending the payment of a total dividend of N13.872 billion, which is N1.43kobo per ordinary share of 50k each to its shareholders. It will be recalled that the company had earlier paid in October 2022, an interim dividend of N3.288 billion which translated to 40k per share…. …….. …………….……..Read More

MTN Nigeria N125billion Commercial Paper issuance sees yield spike to 12.5% amidst inflation concerns – Nairametrics
 
MTN Nigeria Communications Plc has announced that it has raised N125billion via the successfuk completion of the series 4 & 5 cpmmercila paper issuance under its N150billion commercila paper Issuance Programme… …….. …………….……..Read More

Rise in treasury investment lifts NGX full-year revenue by N6.17b – Guardian
 
According to the Group, the increase was due to 51.2 per cent appreciation recorded in treasury investment income, which rose to N2 billion in 2022 from N1.3 billion posted in 2021.
The Group also noted that transaction fees increased to 51.2 per cent year-on-year (YoY) of revenue, which also grew by nine per cent YoY to N3.2 billion…. ………………..……..Read More

First Bank announces appointment of Mr. Oluseyi Oyefeso as Executive Director, Retail Banking, in charge of the South – Nairametrics
 
FirstBank of Nigeria Ltd. has announced the appointment of Mr. Oluseyi Oyefeso as Executive Director, Retail Banking, in charge of the South. The bank made the announcement in a statement released on Monday in Lagos on the website of the Nigeria Exchange. … …………….……..Read More

Makanjuola, Vitafoam Chairman Retires As Shareholders Earn N1.9bn Dividend – Independent
 
The Chairman, Vitafoam Nigeria Plc, Dr Bamidele Makanjuola has annnounced his retirement to the shareholders after meritorious service of ten years, a full term in line with the company’s tenure policy.. … …………….……..Read More

Central Bank Approves Zenith Bank’s HoldCo Status – Independent
 
 The Central Bank of Nigeria (CBN) has approved in principle for Zenith Bank to operate as a financial holding company. Michael Otu, the Company Secretary, in a statement on Friday, the bank revealed plans to change its organisational structure.. … …………….……..Read More
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