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Daily Business News Brief – December 19th, 2023

19
Dec

NGX reopens upbeat with gains in Transcorp Hotel, 17 stocks – Guardian
The Nigerian Exchange Limited (NGX) reopened on a positive note, yesterday, as gains in Transcorp Hotel and 17 stocks lifted market capitalisation by N9 billion.
Market capitalisation of listed equities gained 0.02 per cent or N9 billion to close at N39.621 trillion from N39.612 trillion reported the previous day.
The all-share index (ASI) also appreciated by 15.68 basis points to 72404.91 points from 72389.23 points traded on Friday…………………. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Stock investors reap N11.6trn on Tinubu’s reforms – Businessday
As 2023 draws to a close, stock investors are among the biggest gainers from the reforms implemented by the President Bola Tinubu administration with the market value rising by over N11.6 trillion.
The Nigerian equities market has outperformed African peers in South Africa, Kenya and Morocco, buoyed by reforms such as the removal of petrol subsidy and the liberalisation of the foreign exchange market. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
UBA secures $175 million facility from AfDB – Guardian
United Bank for Africa (UBA) has received a $175 million financial package from the Africa Development Bank (AfDB) Group for enhancing its support to the private sector and financing of Nigeria’s infrastructure development
This facility comprises a $100 million in long-term senior debt, $50 million of trade finance medium-term senior debt and a $25 million risk participation programme, UBA said in a statement.. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
African Alliance records N7.11bn gross premium income – Punch
African Alliance Insurance Plc’s gross premium income rose to N7.11bn at the end of the December 2022 financial period from N7.03bn in the corresponding period of 2021.
The Chairman of the company, Ogwemoh Sylva, disclosed this during its 53rd and 54th annual general meeting in Lagos.
He also disclosed that it paid N4.26bn annuity claims in the period under review. . .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
fake richard mille
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