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Daily Business News Brief – November 14th, 2023

14
Nov

Indices dip by N130b amid sell pressure in BUA Cement, 17 stocks – Guardian
Sell pressure in BUA Cement and 17 stocks, ensured that transactions on the equities sector of the Nigerian Exchange Limited (NGX) reopened on a downturn yesterday, causing market capitalisation to dip by N130 billion.
Indeed, yesterday, the All-Share Index (ASI) shed 236.57 points, representing a decline of 0.33 per cent to close at 70,612.81 points. Also, market capitalisation dipped by N130 billion to close at N38.795 trillion……………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More

UBA secures $150m from Afreximbank to ease Ukraine war effect on customers – Guardian
United Bank for Africa (UBA) Plc, has received a trade finance facility worth $150 million from the African Export-Import Bank.
The facility forms part of Afreximbank’s Ukraine Crisis Adjustment Trade Financing Programme for Africa (AKAFPA), and the signing ceremony for the trade finance was concluded, by both institutions, on the sidelines of the ongoing Intra-African Trade Fair, organised by Afreximbank in Cairo, at the weekend…………….. . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Sterling HoldCo eyes more subsidiaries – Punch
The shareholders of Sterling Financial Holdings Company Plc have commended the board and management of the company for their performance in managing the operations and earnings, and the diversification of the group’s business lines since completing the transition to a holding company structure.
This was revealed in a statement issued by the lender on Monday following the statutory meeting in Lagos.  At the hybrid meeting, the statutory report was unanimously adopted. …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

SAHCO: No hand in Lagos Airport drug deal – The Nation
The Skyway Aviation Handling Company (SAHCO) Plc   (SAHCO) has offered clarifications on alleged multi – billion naira drug operations linking its staff at the cargo warehouse of the Murtala Muhammed International Airport (MMIA), Lagos.
According to the cargo, passenger and ramp handling company, none of its staff was involved in such operations, describing reports making the rounds as grossly misleading , malicious and a figment of imagination. In a statement signed by its spokesperson …. …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Access Bank Partners FG To Support 4m MSMEs, Women, Youths With N30bn – Independent
Access Bank Plc, has partnered with the Federal Government of Nigeria to provide N30 billion in support for four million Micro, Small and Medium Enterprises (MSMEs) in line with its commitment to support women and youth-owned businesses in Nigeria. 
Roosevelt Ogbonna, the Group Managing Director/Chief Executive Officer of Access Bank Plc, made this known in an interview with the press after a meeting with the Vice-President, Kashim Shettima at the Presidential Villa, in Abuja…………………. …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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