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Daily Business News Brief – August 15th, 2023

15
Aug

Okomu, Eterna, other stocks cause NGX negative start to new week – Businessday
Nigeria’s equities market took off the new week on a negative note (down by 0.44percent or N157billion) as investors sold mostly the shares of Okomu Oil Palm, Eterna, University Press, FTN Cocoa, and Sunu Assurances.
At the close of trading, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation decreased from preceding day’s highs of 65,325.37 points and N35.572trillion respectively to 65,036.37 points and N35.415trillion. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More

Fed Govt bond attracts N312.56 billion subscription – The Nation
The bond auction held by the Federal Government saw high investor demand, with a total subscription of N312.56 billion in the month.
Despite the tightening monetary policy and uncertainties, the auction attracted significant interest.
The Debt Management Office (DMO) offered four instruments at the auction, each valued at N90 billion (14.55 per cent FGN APR 2029, 14.70per cent FGN JUN 2033, 15.45 per cent FGN JUN 2038, and 15.70 per cent FGN JUN 2053)….., . … …………….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Shareholders demand AGM as battle for FBN Holdings persists – Punch
The battle for who controls one of Nigeria’s biggest financial institutions, First Bank of Nigeria Holdings, has been raging for weeks with no end in sight, Oluwakemi Abimbola reports
Chants of ‘All we are saying is let First Bank grow,’ from a crowd of placard-bearing protesters briefly shut out the traffic and business at the headquarters of First Bank of Nigeria Holdings along Marina Road, Lagos Island last week Monday…… .. .. …,….. ………. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Fidelity Bank gets shareholder approval to increase share capital – Nairametrics
Fidelity Bank Plc has passed a resolution to increase its share capital from N16 billion to N22.6 billion, paving the way for its planned public offer to begin.
Fidelity Bank PLC disclosed plans to inflate its share capital from N16 billion to N22.6 billion, according to recent resolutions from its Extra-Ordinary General Meeting which was held virtually on August 11 2023. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

MTN to Sell Minority Stake in $5.2bn Fintech Business to Mastercard – Thisday
Following the need to identify and potentially introduce strategic minority investors into MTN Group Fintech, the telecoms company has executed commercial agreements with Mastercard.
MTN Group revealed the plan in its half year 2023 financial report, which THISDAY obtained from its official website yesterday.
The deal is to support the acceleration and growth of MTN’s fintech business payments and remittance services………… … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

UBA releases 2022 annual sustainability report – The Nation
United Bank for Africa (UBA) Plc has released its 2022 Annual Sustainability Report.
The comprehensive report provides an overview of the bank’s commitment to Environmental, Social and Governance (ESG) performance and practices.
The report showcases UBA’s commitment to inclusivity, social responsibility, decarbonisation, responsible business practices and strong governance.,………….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

FBN Holdings Plc to proceed with AGM despite court order – Nairametrics
FBN Holdings Plc, the parent company of First Bank of Nigeria Limited, has announced that it will go ahead with its Annual General Meeting (AGM) scheduled for August 15, 2023, despite being served with an ex parte order of interim injunction by the Federal High Court in Lagos.
FBN had initially denied receiving a court order stopping it from holding the Annual General Meeting (AGM) scheduled for August 15, 2023, and says the AGM would go as scheduled………….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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