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Daily Business News Brief – January 9th, 2024

9
Jan

Index crosses 80,000 mark, as investors gain N363b – Guardian
It was cheery news on the trading floor of the Nigerian Exchange Limited (NGX ) yesterday, as index crossed 80,000 mark to close at 80, 328.58 points.
The index appreciated by 663.92 points or 0.8 per cent to close at 80,328.59 from 79, 664.66 achieved last week. Also, the market capitalisation of listed equities gained N363 billion to close at N43.957 trillion, from last Friday’s N43.594 trillion. Consequently, year-to-date (YTD) return stands at 7.43 per cent…………………………. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
UBA exceeds N1tn market capitalisation mark – Guardian
United Bank for Africa (UBA) Plc, yesterday, joined the elite group of companies with market capitalisation of over N1 trillion just as its share price value hits N29.9 per share.
At the close of trading, the bank’s market capitalisation hit N1.022 trillion, making it the third most capitalised financial institution in Nigeria, a remarkable lift from N283.8 billion at the beginning of the 2023…. … …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
DMO lists two Fed Govt’s bonds for subscription – TheNation
The Debt Management Office (DMO) has listed two Federal Government of Nigeria savings bonds in its inaugural offer for 2024.
The bonds listed yesterday, are up for subscription at N1,000 per unit.
A savings bond with a two-year maturity date of January 17, 2026, at 11.033 percent annual yield, is the inaugural offering…. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Investors rue industrial goods equities’ poor return last year – Guardian
The 12 per cent return on investment recorded by the industrial goods segment of the Nigerian Exchange Limited (NGX), ranking the sector as the worst performing in the bourse last year, is unsettling investors.
Other segments outperformed the all-share index (ASI) at the end of the 2023 transactions by a modest margin, with only the industrial goods sector underperforming the index……….. . .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Fidelity Bank to raise N32bn via rights issue – Punch
Fidelity Bank Plc has applied for approval and listing of the Rights Issue of 3.2 billion ordinary shares of 50 kobo each at N10 per share on the Nigerian Exchange Limited.
The Rights Issue if approved will see the lender raise about N32bn from existing shareholders…….. . .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
FCMB gets recognition for SMEs funding – Punch
First City Monument Bank, has received recognition for its leading role in supporting small and medium-sized enterprises as well as green projects.
FCMB has extended credit totalling N1.343tn to over 98,000 SMEs across diverse sectors since 2018. This includes N3bn in credit disbursed to over 50 firms promoting clean energy solutions………. . .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Access Bank Zambia acquires Atlas Mara – Punch
Access Bank Zambia Limited, a subsidiary of Nigeria’s Access Corporation, has announced its acquisition of African Banking Corporation Zambia Limited, trading as Atlas Mara Zambia after obtaining all requisite regulatory approvals.
The bank in a statement made available to The PUNCH on Monday, said, ‘’Atlas Mara is now a wholly owned subsidiary of Access Bank Zambia. Following this regulatory milestone, the two banks will continue to operate separately until all integration-related processes are finalised…….. . .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Abbey Welcomes New Board Member – Thisday
Abbey Mortgage Bank, has announced the appointment of Mrs. Adenike Kuti as a new Independent Non-Executive Director to the Board.
The Bank in a statement noted this appointment is set to pave the way for new opportunities and exciting directions for Abbey Mortgage Bank.
Mrs. Adenike Kuti is a Chartered Accountant and Corporate Finance Professional, with a background in business development, mergers & acquisitions, and investment banking………. . .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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