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Daily Business News Brief – December 21st, 2023

Home   /   Business News Brief   /   Daily Business News Brief – December 21st, 2023
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December 21, 2023
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in Business News Brief
Capital market welcomes Santa Claus, gains N600b – Guardian
The Nigerian capital market sustained its Santa Claus’ rally yesterday with the market capitalisation of listed equities crossing the N40 trillion mark.
At the close of transactions, market capitalisation soared significantly by N599 billion or 1.51 per cent to N40.164 trillion from N39.656 trillion reported the previous day.
All-share index (ASI) also appreciated by 927.61 basis points to 73397.71 points from 72470.1 points reported on Tuesday………………….. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Banking stocks drive market capitalisation past historic N40tn – Punch
The market capitalisation of the Nigerian Exchange Limited crossed the N40tn mark at the close of trading on Wednesday on the back of increased activity in banking stocks.
Similarly, the benchmark index of the exchange, the All-Share Index, crossed 73,000 basis points days after hitting 72,000 points.. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Public debts rise to N87.91tr despite $1.57b drop in external component – Guardian
Nigeria’s public debt hit N87.91 trillion at the end of the third quarter of 2023, following a marginal increase from the N87.38 trillion it was in the second quarter.
The Debt Management Office (DMO) disclosed this in its third quarter 2023 public debt report published yesterday. The office also informed that the total external debt stock declined by $1.57 billion during the period from $43.16 billion to $41.59 billion…. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
AIICO acquires 5% stake in InfraCredit – Punch
AIICO Insurance Plc has acquired a five per cent shareholding in Infrastructure Credit Guarantee Company Limited.
InfraCredit through a statement announced that AIICO is now the second domestic institutional investors to be admitted by the infrastructure credit guarantee institution. The first was Leadway Assurance Plc… . .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Stock Exchange honours companies for innovation, best practices – TheNation
The Nigerian Exchange (NGX) yesterday honoured companies and issuers that made contributed significantly to deepening the capital market this year.
At the yearly “Made of Africa Awards” organised by NGX, the Exchange recognised organisations and individuals that demonstrated  exceptional performance in value delivery and sustainable impact, and act as key drivers in strengthening the Nigerian and African capital markets… . .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
MTN Gains More Subscribers as 35,154 Port from Other Networks in One Year – Thisday
Current statistics on Number Portability released by the Nigerian Communications Commission (NCC), has revealed that as much as 35,154 subscribers port their GSM lines from one network to another within a space of one year.
The subscribers, which cut across MTN, Globacom, Airtel and 9mobile, had to port their lines from one network to another between August 2022 and August 2023, in search of better service quality…. . .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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