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Daily Business News Brief – February 19th, 2024

19
Feb

Equities Market Benchmark Index Hits All-time High 105,000 Basis Points – Thisday
The Nigerian equities market benchmark Index crossed the 105,000 basis points all-time high last week following investors renewed interest in fundamental stocks such as BUA Foods Plc, Airtel Africa Plc, and Geregu Power Plc.
Despite profit-taking activities on banking stocks, the market remained in the green territory due to bargain hunting in BUA Foods which gained 21 per cent, Airtel Africa rose by 10 per cent and Geregu Power appreciated by……………………………………….. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Fitch rates Nigerian banks stable – TheNation
Global rating agency Fitch Ratings has affirmed that several Nigerian banks have intrinsic strengths to maintain stable business outlook, despite macroeconomic challenges.
In its latest ratings report, Fitch stated that Nigeria’s largest banks and many others have sufficient buffers to remain stable in the face of macroeconomic challenges……………………,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Foreign capital inflow to banking industry drops to $832m – Report – Punch
The banking sector received about $832.64m in foreign capital flow into Nigeria in 2023, which was about 60 percent lower than the inflow in 2022.
An analysis of the latest capital importation report from the National Bureau of Statistics showed that the highest inflow to the banking sector was in the first quarter, which was about $304.56m. … ………………………………………………………………………………………….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
At $377.37m, FDI in Equities Market Hits 10-year Low – Thisday
Following foreign exchange scarcity, among other factors, Foreign Direct Investment (FDI) investment in Nigeria’s equity market dropped to $ 377.37 million in 2023, over 10-year low, THISDAY analysis of number released by the National Bureau of Statistics (NBS) has revealed.  
The NBS in its latest Nigeria’s capital importation 2023 revealed that the reported $377.38million is 18.48 per cent drop from $462.91 million reported in 2022. 
………………………………………………..,….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. ……………. .., … .. .,……. .. …… . ….. . … …………….……..Read More
Wema Bank Appoints Opeke, Kazaure to Board – Thisday
Wema Bank has announced the appointment of two industry professionals, Segun Opeke and Yusuf Kazaure, to the bank’s board of directors, following the approval of the Central Bank of Nigeria (CBN).
In a statement, the bank said Opeke was appointed as Executive Director, while Kazaure was appointed as Non-Executive Director of the bank,………………………………………………..,….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. ……………. .., … .. .,……. .. …… . ….. . … …………….……..Read More
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