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Daily Business News Brief – April 8th, 2024

8
Apr

Equity market sheds N623bn amid portfolio rebalancing – Punch
tock market investors lost N623bn last week as fund managers rebalanced their portfolios ahead of the first quarter results.
The Nigerian capital market shed 1.08 per cent to 103,437.67 points, while the market capital dipped by 1.05 per cent to close last week at N58.5tn.
According to analysts, the market trend was influenced by the actions of market players who continue to digest the corporate earnings released…………………………………………………………… ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Excess liquidity: CBN Raised N7.7tn via NTBs, OMO in Q1 2024 – Thisday
Following its drive to tackle excess liquidity in the banking sector, the Central Bank of Nigeria (CBN), raised a whooping N7.7 trillion from Nigerian Treasury Bill (NTBs) and Open Market Operation (OMO) in first quarter of 2024.
This, according to THISDAY findings, represent 383 per cent increase over N1.59 billion raised by the CBN in Q1 2023…………………………………………………………. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
NGX Group plans N10bn capital raise via rights issue – Punch
The Nigerian Exchange Group has indicated plans to raise about N10bn in additional capital via a rights issue.
In a notice of Annual General Meeting, the group, which houses the premier exchange in Nigeria said the proposal was subject to shareholders and regulatory approval.
Listed as part of the special business to be transacted at its AGM later this month, shareholders would vote “to raise capital of up to N10bn by way of Rights Issue,…. .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Eterna gets new CEO – Punch
Eterna Plc has appointed oil executive and economist, Mr Abiola Lawal, as its new Managing Director/Chief Executive Officer following the resignation of Benjamin Nwaezeigwe.
In a notice filed with the Nigerian Exchange Limited, it was revealed that the incoming MD/CEO has a proven record of positive performance in executive leadership at multiple C-Suite level roles locally and internationally…… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
NGX Group, Others Acquire 75% Stake in Ethiopian Securities Exchange – Thisday
Nigerian Exchange Group Plc (NGX Group), and other investors have acquired a 75 per cent stake in the Ethiopian Securities Exchange (ESX).
NGX Group is among the top institutional investors that have injected capital into the operationalisation of the bourse alongside FSD Africa, a UK-backed non-profit financial institution, and Trade and Development Bank Group (TDB), the financial arm of the Common Market for Eastern and Southern Africa (COMESA) trade block…… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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