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Daily Business News Brief – January 17th, 2024

17
Jan

Investors’ fortune rises by N1.8 billion in one day – Guardian
The bulls strengthened hold on the equities sector of the capital market, yesterday, as virtually all the bluechip stocks recorded price appreciation, raising investors’ wealth by N1.83 billion.
At the close of transactions, the market capitalisation of listed equities increased by 3.94 per cent to N48.139 trillion from N46.316 trillion reported the previous day…………………………….. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Amid Macroeconomic Challenges, Banks’ Lending to Govt, Private Sector Tumble by 11% to N64.9trn – Thisday
Following macroeconomic challenges, banks’ lending to governments and the private sector dropped by 11 per cent or N8.06 trillion to N64.9 trillion in November 2023 from N72.96 trillion in October 2023, according to the Central Bank of Nigeria (CBN) latest Money and Credit statistics.
Analysis of the CBN data revealed that credit to government closed October 2023 at N9.39 trillion, dropping by 45 per cent to N5.16 trillion in November 2023,……. … …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Ellah Lakes Gets Shareholders’ Approval to Raise N5bn via Private Placement – Thisday
The shareholders of Ellah Lakes Plc, yesterday approved the management’s decision to raise up to N5  billion by way of private placement.
The fully indigenously owned and diversified Agribusiness company listed on the Nigerian Exchange Limited (NGX) in 2023 had raised N2.9billion from its investors as the company intended to build storage silos, capable of storing up to 100,000MT of Rice, Soybean and Maize……. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Staco Insurance aims for the top – The Nation
Staco Insurance Plc is set to occupy the top spot in the sector in 2024, having tested its capacity in customer service, regulatory compliance, among others.
Its Managing Director/Chief Executive Officer, Dr. Wale Banmore, in a New Year Message, said the company has had a turbulent voyage to stand tall today.
.., ….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Refinery: Dangote investors gain N1.2tn – Punch
Equity investors in the stocks of companies under the Dangote Group have gained over 1.2tn during the first two trading sessions of this week.
This marked increased appetite in the stocks of the companies listed on the Nigerian Exchange Limited, following the commencement of the production by the Dangote Petrochemical Refinery………. . .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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