25
Sep
September 25, 2023
| Stock market sheds N39bn amid increased trade volume – Punch |
| The local bourse closed negative on Friday by 0.11 per cent week-on-week due to weak market momentum which saw investors losing N39bn. Both the market capitalisation and the Nigerian Exchange Limited All Share Index closed trading lower at N36.847tn and 67,324.59 respectively compared to the previous week’s figure of N36.886tn and 67,395.74 basis points. ………… …….. ………………… … .. …… .. …. . ……….. ………. …………. . ….. . … …………….……..Read More |
FG, NGX to boost startup listing with tech board – Punch |
| The Ministry of Communications, Innovation and Digital Economy has said it intends to collaborate with Nigerian Exchange Limited to stimulate startup listings with the newly-created NGX Technology Board. In a statement issued on Friday by the NGX, it was revealed that the Minister of Communications, Innovation and Digital Economy, Bosun Tijani,…………….. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Low investors’ interest keeps NGX ASeM board flat – Punch |
| Lack of investors’ interest in the Alternative Securities Market board of the Nigerian Exchange Limited has kept the board trading flat for weeks. According to data from the NGX, the board’s index has remained unchanged at 658.99 basis points since July 19, 2023.,. …………. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Public debt may close 2023 at N90.5 trillion, analysts project – Guardian |
| Analysts have predicted that public debt outstanding would likely close at N90.49 trillion (or 43.1 per cent of GDP) in 2023 against N46.25 trillion or 23.2 per cent of GDP recorded in the corresponding period in 2022. Specifically, analysts at Cordros Research Securities said as the CBN’s ways and means advances have been securitised . …………. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
FirstBank sponsors international trade exhibition – Guardian |
| First Bank of Nigeria Limited sponsored the Africa International Trade Exhibition (A.I.T.E 2023), held recently in New York, an event themed ‘the imperatives of global trade for African SMEs as a game changer for the continent’s future prosperity’ Woven into the fabric of society, with the rich heritage of being the premier Bank in West Africa, FirstBank’s sponsorship… …………. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
University Press laments high cost of doing business in Nigeria – Guardian |
| University Press Plc has lamented the rising cost of doing business in Nigeria, stating that the challenge has increased its cost of operations. According to the company, foreign exchange pressures, high levels of fiscal debt, weak governance and country’s dependency on oil as its main foreign exchange earner offered little succour to the challenges bedevilling the business…. …………. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Access Holdings half-year profit rises by 52% as revenue hits N940 billion – DailyTrust |
| Access Bank Plc., a tier-one Nigerian lender, reported a 53% jump in after-tax profit in the half-year period of N135.4 billion up from N88.73 billion in the June 2022 period. The bank which is one of the largest Nigerian banks by assets, reported profit Access Bank saw both its net interest and fee income rise in the period…. …………. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
MTN Group Reiterates Long Term Strategic Plan, Eyes 100m MoMo Users – Thisday |
| MTN Group has reiterated its long term sustainability plan that will see it attain 100 million MoMo users on its financial transaction platform in 2025, up from the current over 69 million users across Africa. Other long term strategy include the attainment of 100 million Ayoba users, 300 million voice subscribers, 200 million active data subscribers, … …………. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
UBA Partners AfCFTA on $6 Billion Financing Solutions for SMEs in Africa – Thisday |
| The United Bank for Africa (UBA) Plc has announced an initiative aimed at providing robust and comprehensive financing solutions to support and boost activities of small and medium scale enterprises (SMEs) across Africa. A statement from the bank yesterday, explained that the financing initiative would be powered by UBA’s recent partnership with the African Continental Free Trade Area (AfCFTA) … …………. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |