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Daily Business News Brief – March 8th, 2023


Investors’ wealth depreciates by N1 billion amid profit taking – Guardian
Virtually all the blue-chip stocks depreciated in price at the close of transactions, yesterday, on the floor of the Nigerian Exchange Limited (NGX) as profit taking dragged market capitalisation by N1 billion….. ……………..……..Read More

Nestle, Dangote Cement, 7 Others Accounted for N20.9bn Unclaimed Dividend in 2022 – Thisday
Despite the introduction of E-Dividend Management Mandate System (e-DMMS), by the Securities and Exchange Commission (SEC), a total of nine listed companies on the Nigerian Exchange Limited (NGX) reported accumulated N20.9billion outstanding unclaimed amounts in 2022 financial year compared with N20.08 billion in 2021 financial year …. …….. …………….……..Read More

TotalEnergies forecasts N3.5bn PAT for Q2 – Punch
Total Energies Marketing Plc has projected a revenue of N3,578bn for the second quarter of 2023. This was revealed in a notice issued on the website of the Nigerian Exchange Limited on Monday by its Executive Director, Mrs L. Baxter-Green,…. ………………..……..Read More

Banks in shock as rejection of old N500, N1000 spreads – Vanguard
THE enthusiasm that greeted the Supreme Court judgement that the old N500 and N1,000 notes should be in use till December 31st 2023, has dissipated as widespread rejection of the old notes by bank customers, transporters and other businesses took over the financial and economic space . … …………….……..Read More

Why the U.S dollar might likely hurt the naira more in near term – Nairametrics
The Naira encountered new challenges across the main FX market segment as the dollar touched a new 13-week high due to the hawkish U.S. Fed and growing geopolitical uncertainty. As of today, the Nigeria naira opened at N753 per $! in the parallel market, often know as the black market, while it was trading at N461 in the officially trade Forex markety.. … …………….……..Read More
fake richard mille
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