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Jun
June 26, 2023
| Domestic, Foreign Portfolio Transactions in Stock Market Down 31% on Inflation, Low RoI – Thisday |
| Following political uncertainty, low return on investment amid double-digit inflation among, other factors, domestic and foreign investors portfolio transactions on the Nigerian Exchange Limited (NGX) dropped by nearly 31 per cent to N1.04 trillion in first five months of 2023 from N1.51trillion in first five months of 2022. Prolonged foreign exchange scarcity, and hike in the Monetary Policy Rate by the Central Bank of Nigeria (CBN) had been taking their toll on the Nigerian economy and the stock market, which is the barometer of the economy…………….. ….. …….,…. ……… .. .. ….. .. ….. …….. …………….……..Read More |
Zenith Bank Lags as GTCO Emerge Most Profitable Lender by ROE – Thisday |
| Nigeria’s total public debt may hit N81.64tn this year, according to findings by The PUNCH. The figure was arrived at based on the 2022 Debt Sustainability Analysis Report by Debt Management Office. According to the debt office, the increase in total public debt-to-GDP to 37.1 per cent in 2023 from 23.4 per cent as of September 2022 was due to the inclusion of an estimated N8.8tn 2023 debt, the government’s Ways and Means debt of over N23tn, and an estimated Promissory Notes issuance of N2.87tn in the debt stock… .. …… .. …. . ……….. ………. …………. . ….. . … …………….……..Read More |
Insurer’s shareholders to share N1.089 billion dividend – Guardian |
| An underwriting firm, Cornerstone Insurance Plc, has declared N1.089 billion as a dividend to shareholders at six kobo per ordinary share of 50 kobos, each for the year ended December 31, 2022 as against N908 million it declared 2021. This was disclosed at the company’s 31st yearly general meeting in Lagos. The gross premium written rose by six per cent from N20.92 billion achieved in 2021 to N22.25 billion.. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Linkage Assurance assures shareholders of improved performance – Punch |
| Underwriting firm, Linkage Assurance Plc has assured its shareholders of stronger performance and increased returns on investment despite challenges in the environment. A statement said Linkage Assurance gave the assurance at its 29th annual general meeting in Lagos. The Chairman of the Company, Chief Joshua Fumudoh, while speaking at the AGM, said 2022 was one of the most challenging years in the history of modern times, characterised by devastating economic and geopolitical uncertainties… .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Mutual Benefits assets rise to N93bn – Punch |
| Mutual Benefits Assurance Plc’s assets rose by 10.95 per cent to N92.95bn as of the end of 2022 financial period. The Chairman, Mutual Benefits Assurance, Dr Akin Ogunbiyi, disclosed this while presenting the Group’s 2022 financial performance during its 27th annual general meeting in Lagos on Friday. He said, “Despite the challenges faced within the operating environment in Nigeria during the year 2022,… .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |