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Daily Business News Brief – January 19th, 2024

19
Jan

NGX capitalisation hits N50tr mark on bargain hunting in industrial firms – Guardian
The reign of the bulls continued unabated on the equities sector of the capital market yesterday as the capitalisation crossed N50 trillion mark, while the all-share index (ASI) hit 91,000 mark.
This notable upswing was attributed to investors’ interest spanning various stocks within the industrial, oil and gas as well as consumer goods……………………………. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Abbey Mortgage Bank affirms readiness for recapitalisation – Punch
Abbey Mortgage Bank Plc has expressed worry over the high non-performing loans in the mortgage industry.
The Managing Director of the bank, Mobolaji Adewumi, stated this on Thursday during a ‘Facts Behind the Figures’ presentation at the Nigerian Exchange Limited. 
He said, “For mortgage banks, the NPLs are quite high In 2020, when VFD Group invested in Abbey, NPL was around 75 per cent and if you look across most of the mortgage banks, you will see high NPLs..,……. … …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Access Bank Seeks to Acquire 80% Stake in Ugandan Finance Trust Bank – Thisday
Access Bank Plc, said it has signed a definitive agreement with the Ugandan-based Finance Trust Bank Limited (FTB) and its Selling Institutional Shareholders for the acquisition of a majority equity stake in the former.
The move would enable the Nigerian bank to own about 80 per cent shareholding in FTB following the conclusion of customary conditions precedent…….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Eterna joins list of domestic distributors of Dangote fuel – Dailytrust
Eterna Plc has joined the growing list of domestic sales distributors of Dangote Petroleum Refinery products.
Other oil marketing giants selected to sell refined petroleum products, in particular fuel produced by the $20 billion Dangote Refinery, to Nigerians are Conoil Plc, 11 Plc, Total Nigeria Plc, Ardova Plc, MRS Oil Nigeria Plc, OVH Energy Marketing Limited, and NNPC Retail………………………………………….., ….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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