12
Jul
July 12, 2023
| Shareholders rue impacts of struggling economy on quoted companies •Say rising cost of operations fueling delisting, capital flight •44 delisted firms pull out N350b from market in seven years •Coronation Insurance informs market of planned delisting – Guardian |
| Uncertainty, multiple taxation, poor infrastructure and other macro-economic challenges, which have resulted in high cost of operations and triggered the delisting of quoted companies, have become a source of worry to shareholders, who have urged government to focus on creating an enabling environment for business operations. The investors, apparently irked by the recent delisting announcement by Coronation Insurance Plc, decried the huge blow to the market.. … . ……………… ….. …….,…. ……… .. .. ….. .. ….. …….. …………….……..Read More |
Stock Exchange suspends seven companies over governance failures – The Nation |
| The Nigerian Exchange (NGX) has suspended trading on seven companies for failing to comply with best corporate governance that requires them to submit their audited results within a stipulated time. They included Ardova Plc, Presco, C and I Leasing, Royal Exchange, International Energy Insurance, Pharma Deko and Afromedia…….. .. …… .. …. . ……….. ………. …………. . ….. . … …………….……..Read More |
SEC investigates Otudeko’s FBN share acquisition – Punch |
| The Securities and Exchange Council is currently investigating the acquisition of 4.7 billion shares of FBN Holdings by a former Chairman of the bank, Oba Otudeko, The PUNCH has confirmed. A source within the commission, who pleaded anonymity, confirmed to our correspondent that a probe of the contentious deal that which was published on the website of the Nigerian Exchange Limited of Friday, July 7 was currently being probed……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
CBN advises risk management practitioners on emerging risks – Punch |
| The Director, Risk Management, Central Bank of Nigeria, Dr Blaise Ijebor, has urged risk managers practitioners to keep up with trends that will pose as risks for their organisation. Ijebor, gave this charge during the 2023 Certified Risk Manager Induction. 80 professionals were inducted at the event in Lagos on Tuesday. While urging them to stay agile and adaptable, ready to respond to the dynamic nature of their work, he also encouraged them to be brave, taking on challenges and seizing opportunities. ………. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
FMN eyes capital market for fresh funding – Punch |
| Flour Mill of Nigeria has stated that it would continue to leverage its impressive credit rating to raise funds from the capital market. Flour Mill of Nigeria Plc, a prominent consumer conglomerate in Nigeria, has solidified its robust financial standing by earning an exceptional rating and upholding strong brand values………. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |