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Daily Business News Brief – July 20th, 2023

20
Jul

Negative sentiments in Geregu, 26 stocks drag indices by N5b – Guardian 
Bear resurfaced on the equities sector of the Nigerian Exchange Limited (NGX), as heavy price depreciation in Geregu and 26 stocks dragged market capitalisation by N5 billion.
Yesterday, market capitalisation of listed equities declined by N5 billion, representing 0.01 per cent to N34.716 trillion from N34.721 trillion reported the previous day…………. .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More

Kwairanga:  Capital Market Excited about Tinubu’s Policies, Stocks Soaring – Thisday
The Chairman of Nigerian Exchange Group Plc (NGX Group), Umaru Kwairanga has said that the capital market has shown strong enthusiasm towards the policies of President Bola Tinubu going by the positive performance recorded in the past month.
Kwairanga said this during the 62nd Annual General Meeting of NGX Group held in Lagos. According to him, “The market’s performance has been very impressive and I am hopeful that it will continue on the upward trajectory……………. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

New CBN rules necessary for banking sector growth– Experts – Punch
Stakeholders in the financial sector, on Wednesday, said the new corporate governance rules issued by the Central Bank of Nigeria were fitting responses to the recent developments in the banking sector.
The CBN recently introduced new guidelines in a circular to all commercial, merchant, non-interest and payment service banks, and financial holding companies,….. ………. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Ecobank appeals Honeywell’s N72bn court judgement – Punch
Ecobank Nigeria Limited has lodged an appeal against the ruling of the Federal High Court, Lagos, delivered by Hon. Justice M. Liman, in the N72bn lawsuit brought against the bank by Honeywell Flour Mills Plc.
In its notice of appeal dated 19th July 2023, filed on the same date, Ecobank sought to overturn the judgment delivered on 18th July 2023.. ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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