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Daily Business News Brief – February 21st, 2024

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February 21, 2024
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in Business News Brief
Equity market sustains decline with N730bn loss – Punch
The Nigerian equity market continued to bleed for the second consecutive day this week as it lost N730bn on Tuesday.
Dangote Cement, MTN Nigeria had dragged the market to a N1.82tn loss on Monday.
The bleeding continued on Tuesday as the benchmark index, the All-Share Index and the market cap declined by 1.30 per cent to 101,060.67 points and N55.298tn, respectively………………………………………… ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Industrial goods equities reverse poor returns, post near 100% gain – Guardian
In what may be described as a twist and sudden change in performance, the industrial goods index which performed in 2023 has returned a year-to-date gain over 95 per cent to investors
This is against the 12 per cent gain posted in the 12 months of 2023, placing it behind five other sectors …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
International Breweries shareholders approve rights issue – Punch
The shareholders of International Breweries have approved the company’s planned  rights issue.
According to a corporate notice filed with the Nigerian Exchange Limited, the approval was given at the last Extraordinary General Meeting of the company held in Lagos. … ………………………………………………………………………………………….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Q4 2023: Veritas Kapital Achieves 287% Profit Growth – Thisday
Underwriting firm, Veritas Kapital Assurance Plc, has said that it achieved a remarkable 287 per cent growth in  its Profit Afrter Tax, from N562.7 million in 2022 to N2.177 billion in 2023, marking a year-on-year profit growth of N1.614billion.
The company attributed the performance to its steadfast commitment to enhancing shareholders value and refining its business offeringsto provide a seamless customer experience ………………………………………………..,….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. ……………. .., … .. .,……. .. …… . ….. . … …………….……..Read More
PZ Cussons shareholders to meet after N73bn loss – Punch
PZ Cussons Nigeria Plc has called an extra-ordinary general meeting of its shareholders after it suffered a N73.8bn loss, which brought the value of its net assets into the red zone.
In a notice of the EGM filed with the Nigerian Exchange Limited on Tuesday, the meeting will consider both the unaudited financial statement for the period ending November 30, 2023, and measures to address the negative net assets value of the company.,………………………………………………..,….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. ……………. .., … .. .,……. .. …… . ….. . … …………….……..Read More
Royal Exchange Assurance  Makes Key Appointments – Thisday
Nigeria’s premier insurance underwriter, Royal Exchange General Insurance Company(REGIC), has announced the appointment of some experienced personnel to man key positions in the organisation.
They are Mr. Sunny Uwagboi, Executive Director (ED), Udoka Eze Martins, Regional Director Abuja and Northern Nigeria, Dr. Joyce Odiachi Head, Technical Services, and  Mr. Adeseye Ajibulu,  Head Claims and Technical Risk Management.,………………………………………………..,….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. ……………. .., … .. .,……. .. …… . ….. . … …………….……..Read More
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