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Daily Business News Brief – December 28th, 2023

28
Dec

Stock Market Down N140bn on Profit-taking in Dangote Cement, 20 Others – Thisday
Opening the week, the stock market of the Nigerian Exchange Limited (NGX) extended losses as investors profit-taking activities in Dangote Cement Plc, 20 others down the overall market capitalization by N140 billion.
The NGX All-Share Index declined by 254.63 basis points or 0.34 per cent, to close at 73,768.64 basis points. Consequently, the overall market capitalisation value lost N140 billion to close at N40.367 trillion…………………….. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
CBN assures of deposits’ safety amid cash squeeze – Guardian
Amid repeated assurance by the Central Bank of Nigeria (CBN) that there is enough cash in circulation, Nigerians continue to groan over the scarcity of cash.
In Abuja, most sellers without payment options have resorted to sharing point-of-sale (PoS) machines with fellow traders to remain in business. This is becoming a norm in Wuse – the biggest market in the central area of the city. … …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Zenith named best bank for digital solutions – Guardian
Zenith Bank Plc has been named the “Best Bank for Digital Solutions in Nigeria” in the Euromoney Awards for Excellence 2023, underscoring the bank’s pioneering and outstanding achievements in delivering cutting-edge digital financial solutions.
Speaking on the recognition, the Group Managing Director/CEO of Zenith Bank Plc, Dr Ebenezer Onyeagwu, said: “We are delighted to receive the distinction as the Best Bank for Digital Solutions in Nigeria…… .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
MTN Leads as Total Fibre Optics Deployment across Networks Hit 77,235.5km – Thisday
The industry performance report for the year ended December 2022, released this week by the Nigerian Communications Commission (NCC), showed that a substantial telecoms infrastructure deployment was recorded in 2022, with MTN Nigeria leading in land and submarine cable infrastructure, including microwave radio infrastructure deployment.
According to the report, a total of 77,235.5km of fibre (On-land and Submarine) was deployed as at December 2022….. . .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
SEC approves VFD Group Plc’s Rights Issue of 63,342,455 Ordinary Shares – Nairametrics
According to the statement signed by Gbeminiyi Shoda, Group Company Secretary VFD Group Plc noted that it has obtained approval from the Securities Exchange Commission (SEC) to offer to the shareholders the proposed Rights Issue of 63,342,455 Ordinary Shares of 50 Kobo each at N197.33 Per Share based on one (1) new ordinary share for every three (3) existing ordinary shares held.  ….. . .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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