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Daily Business News Brief – September 8th, 2023

Home   /   Business News Brief   /   Daily Business News Brief – September 8th, 2023
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September 8, 2023
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Nestle, Dangote Cement lead 0.3 per cent market loss – Guardian
Following selloff in many highly capitalised stocks, especially Nestle and Dangote Cement, Nigerian Exchange Limited (NGX) sustained its negative sentiments yesterday, causing the all-share index (ASI) to dip further by 0.3 per cent.
Yesterday, the ASI declined by 204.17 per cent, representing a decline of 0.3 per cent, to close at 68,082.11 points. Similarly, the overall market capitalisation value lost N112 billion to close at N37.262 trillion…… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More

Capital market can finance PPP infrastructure projects — SEC DG – Vanguard
The Director General, Securities and Exchange Commission (SEC), Lamido Yugufa, has stated that the Nigerian Capital Market has the capacity and is well-positioned to finance Public-Private Partnership (PPP) infrastructure projects in the country.
Yuguda made this remark at the 2023 Chartered Institute of Stockbrokers (CIS) National Workshop held in Abuja last week……… ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

‘Banks’ growth depends on firm regulatory framework’ – The Nation
Securities and Exchange Commission (SEC) has said the remarkable growth witnessed in the Nigerian banking industry over the past decade was partly due to the capital market and SEC’s comprehensive regulatory approach.
Director General, Securities and Exchange Commission (SEC), Mr. Lamido Yuguda said this at the 2023 Chartered Institute of Bankers (CIBN) graduates induction and prize award in Lagos…..,….. …….., . … …………….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

FMN Achieves Solid Topline Growth, Profit Up 64% – Thisday
Flour Mills of Nigeria Plc (FMN), has announced that it has achieved a solid topline growth of 32 percent across food, agro-allied, and support segments, in FY 2022/2023 with high revenue and strong profit.
The results released recently, also showed that the firm’s gross profit improved by an impressive 64 percent, reaching N177.1 billion……. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Minority investors lament PZ Cussons’ share buyback – Punch
Some shareholders have lamented the planned buy back of minority shares by the parent company of PZ Cussons Nigeria Plc.
In a corporate notice filed on the Nigerian Exchange Limited on Monday, which was signed by its Acting Company Secretary, Olubukola Olonade-Agaga, the company said that the mother company, PZ Cussons (Holdings) Limited, has offered to acquire shares held by other shareholders of PZ Cussons Nigeria Plc at an offer price of N21 per share.  ……. …. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Airtel Nigeria appoints Kemi Ariyo, Dhillon Hermanpreet as Directors – Nairametrics
Telecommunications company, Airtel Nigeria, has announced the appointment of two directors to join its executive leadership team.  
The company named Kemi Ariyo as the new Director of Information and Technology and Harmanpreet Singh Dhillon as Director of Network Transformation and Planning…. ……. …. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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