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Daily Business News Brief – November 23rd, 2023

23
Nov

Equity market slide by N35bn over MTN, others dip – Punch
The market capitalisation of the Nigerian Exchange Limited slid by N35bn on Wednesday as MTN Nigeria (-0.63 per cent), Dangote Sugar (-1.64 per cent), Lafarge Africa Plc (-1.34 per cent), United Bank for Africa(-0.24 per cent) and FBN Holdings (-4 per cent) reduced in share value at the close of trading.
Both the All-Share Index and the Market capitalisation depreciated by 0.09 per cent to close at 71,003.98 points and N 39.047tn ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More

Prioritise listed companies in FX access, NGX urges FG – Punch
The Nigerian Exchange Limited has called on the Federal Government and the Central Bank of Nigeria to prioritise listed corporates in their procurement processes and access to foreign exchange.
According to the Chief Executive Officer of the NGX, Temi Popoola, this approach would encourage more companies to list on the Exchange and mitigate the prevalent FX challenges in the economy. ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Geregu majority shareholder offloads one million shares – Punch
The majority shareholder in Geregu Power Plc, Amperion Power Distribution Company Limited, has offloaded one million units of its holdings in a cross-deal stock sale.
According to a corporate notice filed with the Nigerian Exchange Limited on Wednesday, the transaction took place on Monday.
The one million units of Geregu power shares were exchanged at N399 per unit, amounting to about N399m……….. …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Wema Banks Signs $50m Credit Facility With EBID – Thisday
Wema Bank has signed a credit facility of $50,000,000 with the ECOWAS Bank for Investment and Development (EBID).
The funds are reserved specifically to support and promote empowerment initiatives for bank’s diverse customers.
The $50 million credit facility assigned to Wema Bank aligns with EBID’s strategy of impacting SMEs across the sub-region via partnerships with banks2… …………… …. …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

C & I Leasing targets increased technology to boost operations – Guardian
C & I Leasing Plc said it will deploy more technology to enhance operational efficiency and business acquisition for sustained growth
The Chairman of the company, Dr Samuel Onyishi, while addressing shareholders at the company’s 32nd yearly general meeting (AGM) in Lagos said the company would embrace data and analytics, automation, optimised infrastructure, legacy modernisation and boost cyber-security…………………….. …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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