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Daily Business News Brief – July 18th, 2023

Home   /   Business News Brief   /   Daily Business News Brief – July 18th, 2023
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July 18, 2023
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Renewed Interest in FBN Holdings, Others Lift Stock Market by N203bn – Thisday
Opening a new week for trading activities, the stock market of the Nigerian Exchange Limited (NGX) rebound by N203billion as investors renew interest in FBN Holdings, Access Holdings, and Geregu Power Plc, among others.
Accordingly, the  FBN Holdings gained 9.8 per cent, as Access Corporation and Geregu Power gained 9.7 per cent and 6.1 per cent respectively……….. .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More

Economists decry high production costs as inflation hits 22.79% – Punch
Nigeria’s headline inflation rate rose for the sixth consecutive time to 22.79 per cent in June 2023, the data released on Monday by the National Bureau of Statistics revealed.
The inflation rate in Africa’s biggest economy rose to a new 17-year high of 22.79 per cent in June 2023 from 22.41 per cent in the previous month………….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

NBS clarifies: June 2023 inflation “may not fully capture” fuel subsidy and naira unification – Nairametrics
The Bureau of Statistics has clarified the recent inflation figures explaining that numbers may not fully capture the impact of the fuel subsidy removal and the unification of the exchange rate.
The tweet appears to be in an apparent response to the concerns of analysts who thought the inflation numbers came lower than expected….. ………. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Euromoney names GTB as best bank in Nigeria – Guardian
Guaranty Trust Bank Ltd (GTB) has been named Best Bank in Nigeria at the Euromoney Awards for Excellence 2023. This marks a record 12th time that GTB has been recognised as the leading financial institution in Nigeria.
Announcing the award, Euromoney stated: “Nigeria’s Best Bank, Guaranty Trust Bank, has continued to do a good job of convincing investors ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

UBA tasks staff on customer experience – Guardian
United Bank for Africa (UBA) Plc has launched the Customer Experience (CX) School of Excellence, a first-of-its-kind initiative aimed at empowering its workforce to deliver top-notch services to its customers.
The programme is expected to equip the bank’s employees with the necessary skills and knowledge to provide superior customer experiences across all business segments. ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

United Capital appoints Ayodeji Adigun as COO, two others join as directors – Nairametrics
United Capital Plc has announced the appointment of Ayodeji Adigun as the new Chief Operating Officer and two other Directors. 
This was disclosed in an official statement to Nigeria Exchange Limited which was obtained by Nairametrics.. ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Focus on sectors driving economy, firm advises investors – Punch
An investment banking firm, Comercio Partners, has urged investors to adopt a cautious approach and focus on sectors that drive the economy in the second half of the year.
This was revealed in the firm’s review of the economy for the first half of the year and the outlook for the second half… ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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