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November 16, 2023
| Bargain hunting persists on NGX as indices rise further by N113b – Guardian |
| Positive sentiments persisted on the equities sector of the Nigerian Exchange Limited (NGX) as more bluechip stocks join the league of gainers, resulting to a further rise in market capitalisation by N113 billion. At the close of transaction yesterday, the All-Share Index (ASI) rose by 173.62 points, representing a gain of 0.25 per cent to close at 71,014.34 points. Also, market capitalisation gained N113 billion to close at N39.054 trillion………………. .. . .,.. ………… …….. ………………… … .. …… .. …. . ……….. ………. …………. . ….. . … …………….……..Read More |
Oando leads gainers as market cap rises by N113bn – Punch |
| Investors were positive about the shares of Oando Plc, propelling it to rise by 10 per cent at the close of trading at the Nigerian Exchange on Wednesday, as market capitalisation gained N113bn. Oando shares rose on the back of the $800m deal it signed with the African Export-Import Bank at the Intra-African Trade Fair, which was held in Cairo, Egypt. The oil firm acquired a 20 per cent stake in Nigerian Agip Oil Company Limited…………….. . …………………………. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Inflation rate hits 27.3% – Dailytrust |
| Nigeria’s headline Inflation rate for October 2023 has increased to 27.33 percent the National Bureau of Statistics (NBS) has disclosed. Daily Trust reports that the figure is 0.9 short of the 28.2 percent recorded in August 2005. The NBS in a report released on Wednesday said, on a year-on-year basis, the headline inflation rate was 6.24 points higher compared to the rate recorded in October 2022, which was (21.09 percent).. …… …………..,…………….. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Providus Moves to Acquire Majority Stake in Unity Bank – Thisday |
| ProvidusBank Limited, a commercial bank founded in 2016, has taken bold steps to acquire majority stake in Unity Bank Plc, as part of the former’s business expansion plan. THISDAY gathered from a reliable industry source that the arrangement which Unity Bank that had been struggling to beef up its minimum capital requirement since 2017, has termed a business combination, was being monitored by the Central Bank of Nigeria (CBN)……………. …. …………..,…………….. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
$6bn facility: UBA to finance agro-processing SMEs – Punch |
| The United Bank for Africa Plc has said that it is looking to support Small and Medium Scale Enterprises in four sectors including Agro-processing, Automotive, pharmaceuticals, Transport and Logistics with the $6bn facility from the Africa Continental Free Trade Area Secretariat. According to a statement from the lender on Wednesday, UBA’s Deputy Managing Director, Muyiwa Akinyemi, said this during the Africa Day…………………. …………..,…………….. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Sterling Bank, Afreximbank seal $75m deal – Punch |
| Sterling Bank Plc has signed a $75m agreement with the African Export-Import Bank to foster non-oil exports in Nigeria. The agreement was signed on the sidelines of the just concluded Intra-Africa Trade Fair in Cairo, Egypt. A statement from Sterling Bank disclosed that the deal would boost trade financing in the country……………………. …………..,…………….. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Flour Mills shareholders approve BAGCO as subsidiary – Punch |
| The shareholders of food and agro-allied company, Flour Mills of Nigeria, have approved the transition of a division of the manufacturer, BAGCO, into a 100 per cent owned subsidiary. This was one of the special resolutions passed at the firm’s Annual General Meeting held in Lagos. The shareholders agreed by a show of hand to separate the BAGCO business from FMN into a subsidiary……………………. …………..,…………….. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |