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Daily Business News Brief – August 17th, 2023

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August 17, 2023
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NGX index dips by 0.5% as Airtel, 21 others record losses – Guardian
For the third consecutive session, negative sentiments persisted in the equities sector of the Nigerian Exchange Limited (NGX), following the selloff in Airtel Africa and 21 stocks, causing the All-Share Index (ASI) to dip further by 0.5 per cent.
At the close of transactions yesterday, the ASI lost 303.7 points, representing a decline of 0.47 per cent to close at 64,625.28 points. Also, market capitalisation declined by N13 billion to close at N 35.37 trillion… ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More

MTN issues N100bn commercial papers – Punch
MTN Nigeria has revealed plans to issue N100bn commercial paper notes under its Commercial Paper Issuance Programme.
This was disclosed in a corporate notice filed on the Nigerian Exchange Limited on Wednesday.
The company said, “The issuance is part of the company’s strategy to diversify its financing options with the funds being deployed towards short-term working capital and funding requirements.”……, . … …………….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

AGM: Court to hear contempt suit against FBN officials August 23
…CBN okays Otedola as board member – Punch
The Federal High Court in Lagos on Wednesday adjourned till August 23, 2023, to hear a motion seeking to commit FBN Holdings Plc officials to prison for alleged contempt of court.
In the motion filed by three aggrieved FBN Holdings Plc shareholders, it was alleged that the firm held its Annual General Meeting on Tuesday, despite an order of the court specifically restraining it from proceeding with the AGM.,…… .. .. …,….. ………. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Hassan is Jaiz Bank’s Ag. MD – The Nation
Nigeria’s premier and largest non-interest bank, Jaiz Bank Plc has announced the appointment of Ahmed Alhaji Hassan as its Acting Managing Director and Chief Executive Officer.
Hassan was appointed following the resignation of Jaiz Bank’s Managing Director, Dr. Sirajo Salisu.
A statement from Jaiz Bank yesterday in Abuja said the decision to appoint Hassan as Acting Managing Director was made by the board following the departure of Sirajo, who resigned and went on terminal leave. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Airtel Africa Pledges Support for Africa’s Digital Agenda – Thisday
Airtel Africa has reaffirmed its commitment to continue driving the digitalisation of the continent to unlock new opportunities and promote inclusive, sustainable growth.
Speaking during a recent meeting with the President of the Republic of Malawi, Dr. Lazarus McCarthy Chakwera, the Group CEO of Airtel Africa, Dr. Segun Ogunsanya, indicated the company’s plans to boost investments that are geared towards supporting the country’s target of achieving at least 20 per cent………… … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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