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Daily Business News Brief March 15th, 2024

15
Mar

Investors Demand for FBN Holdings, 18 Others Lift Stock Market – Thisday
The stock market segment of the Nigerian Exchange Limited (NGX) appreciated marginally by 0.05 per cent on investors renewed interest in FBN Holdings Plc, Access Holdings Plc, and 17 others.
The stock market for the fourth consecutive trading this week has maintained positive momentum amid Central Bank of Nigeria (CBN) moves to lure investors with lucrative yield on Government Securities.  
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CBN insists banks can’t pay dividends from FX revaluation gains – Punch
The Central Bank of Nigeria has reiterated that banks operating in the country cannot use their foreign exchange revaluation gains to pay dividends or meet their operational expenses.
In a circular from the apex bank on Thursday signed by the acting Director, the Banking Supervision Department, Adetona Adedeji, banks were warned against such a move………………………………………………………. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Three banks project N33bn profit for Q2 – Punch
Three banks have projected a combined profit of N33.76bn for the second quarter of 2024.
The financial institutions include FCMB Group, Sterling Financial Holding Company and non-interest bank, JaizBank, disclosed this in their second quarter projections filed with the Nigerian Exchange Limited. ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
SAHCOL Appoints Olugbenga as Executive Director – Thisday
The Board of the Skyway Aviation Handling Company (SAHCO) Plc, has confirmed the appointment of Adegbesan Olugbenga as Executive Director of Finance and Administration.
The company said in a statement that Olugbenga is a highly accomplished seasoned professional in the realms of Accounting and Finance, boasting a wealth of qualifications and a career spanning over thirty years……….. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
MTN’s cash from operations hits N1.4trn, highest in seven years – BusinessDay
MTN Nigeria Communications Plc, one of the leading telecommunications companies in the country, has seen its cash generated from operations rise to the highest in at least seven years, data compiled by BusinessDay shows.
According to the company’s latest audited financial statement, it generated N1.37 trillion cash from operations last year from N1.14 billion in 2022………… …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Airtel Africa Mulls IPO For $4bn Mobile Money Subsidiary – Independent
Airtel Africa is considering an initial public offering of its mobile money arm that could value it at more than $4 billion, according to reports.
The operator group is experiencing extreme turbulence. Last month it came very close to making a loss as its net profit plummeted by 99.6%. This was primarily down to Nigeria’s decision to unpeg the naira from the US dollar, sending the naira into freefall………… …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
fake richard mille
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