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Jun
June 15, 2023
| Stock Market Extends Gain As Investors React To Unified Exchange Rate – Dailytrust |
| For the second day in a row, the equity market, yesterday, recorded gains as investors reacted to the recent unified exchange rate policy. The NGX All Share Index (ASI) and Market Capitalisation both closed in the positive by 3.13% respectively as investors made N992 billion gain. In 11,947 deals, investors exchanged 1,296,655,522 shares worth N21bn. The NGX ASI year-to-date return was at 17.04% while market activities measured by volume traded increased by 9.28%……….. ….. …….,…. ……… .. .. ….. .. ….. …….. …………….……..Read More |
Securities offer alternate funding to struggling MSMEs – Punch |
| Despite several funding interventions for Micro, Small and Medium Enterprises in the continent, African small businesses are still struggling with access to capital required for growth and expansion. UTHMAN SALAMI writes on how securities trading may tackle the protracted funding challenge African MSMEs The African Exchanges Linkage Project, comprising over 2,000 listed companies across five countries’ exchanges and valued at nearly $2tn, presents a feasible funding option to support African Micro Small and Medium Enterprises in need of assistance. .. …… .. …. . ……….. ………. …………. . ….. . … …………….……..Read More |
Currency floating: Private sector, economists back CBN as naira falls to 664/$ – Punch |
| The Central Bank of Nigeria has directed Deposit Money Banks to remove the rate cap on the naira at the official Investors and Exporters’ Window of the foreign exchange market, to allow for a free float of the national currency against the dollar and other global currencies. This came barely two weeks after President Bola Tinubu promised to unify the nation’s multiple exchange rates, and less than a week before the suspension and detention of CBN Governor Godwin Emefiele whose unorthodox monetary policies had become a stumbling block to investors and the economy…… .. . … .. ….. …. .. .. .,……. .. …… . ….. . … …………….……..Read More |
Wema Bank unveils self-service platform – Punch |
| Wema Bank Plc said it has launched a self-service platform called Phygital Branch, which combines the best aspects of traditional and digital banking in all its branches nationwide. The bank disclosed this in a statement. Wema Bank’s Head of Brand and Marketing Communications at the launch of the initiative, Mabel Adeteye, said, “Phygital is the result of Wema Bank’s recognition that a segment of our customers still enjoys the physical experience of traditional banking but without potential hassles such as queues that can diminish the experience…….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
FG, Oando sign MoU to boost renewable energy access – Punch |
| The Federal Government has signed a Memorandum of Understanding with Oando Clean Energy Limited to boost the deployment of sustainable renewable energy access across the country. Represented by the Rural Electrification Agency, the government announced on Monday that the MoU with OCEL was also part of measures adopted to further mitigate the harsh impact of the removal of subsidy on Premium Motor Spirit, popularly called petrol……. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |