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Daily Business News Brief – February 23rd, 2024

23
Feb

Equity investors lose N67bn over sell-offs – Punch
Equity investors lost N67bn on Thursday, as the Nigerian Exchange returned to the red zone.
Sell-offs in banking, insurance, and consumer goods sectors dragged the All-Share Index to a 0.12 per cent decline, closing at 101,239.10 points, while the market capitalisation, which dipped at the same rate, settled at N55.40tn.
The exchange’s year-to-date returns moderated to 35.39 per cent…………………………………………. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
GDP grew by 3.46% in fourth quarter – TheNation
The National Bureau of Statistics (NBS) yesterday said the country’s Gross Domestic Product grew by 3.46 per cent in real term in the fourth quarter 2023.
According to its document tagged: “Q4 2023 GDP Report,” the growth is lower than the 3.52 per cent recorded in 2023 and higher than the third quarter of growth of 2.54 per cent.. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
NGX RegCo, ICAN Equip Audit Committee on Enhancing Corporate Governance – Thisday
NGX Regulation Limited (NGX RegCo) and the Institute of Chartered Accountants of Nigeria (ICAN) have equipped audit committee members of listed companies on enhancing of their corporate governance best practices.
At the workshop held at the Exchange in Lagos recently, investors and other stakeholders gathered to learn more about the role of the audit committee, expectations from a regulatory standpoint and more.. … ………………………………………………………………………………………….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Banks solvency ratio drops over toxic dollar loans – TheNation
The revaluation of dollar-denominated loans triggered drop in banking industry solvency position, the Central Bank of Nigeria (CBN) Financial Stability Report (FSR) released yesterday has shown.
The FSR which highlighted developments in the financial system during the first half of 2023, said that the banking industry’s solvency, measured by regulatory capital to risk-weighted assets, declined to 11.23 per cent, from 13.76 percent……………………………………………………..,….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. ……………. .., … .. .,……. .. …… . ….. . … …………….……..Read More
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