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Daily Business News Brief – May 9th, 2024

9
May

Index dips by 0.005 per cent amid profit taking by investors
 •As Access Holdings awards 23.8m units of shares on senior executives – Guardian
Transaction on the Nigerian Exchange Limited (NGX) closed on a downturn yesterday, occasioned by profit-taking activities in 19 stocks, as the All-Share Index declined by 0.005 per cent.
At the closed of transactions yesterday, the ASI declined by 4.53 points,
representing a loss of 0.005 per cent, to close at 98,223.97. Similarly, the overall market capitalisation value shed N3 billion to close at N55.552 trillion…………………………………………… …………………………………………………………………. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
NGX, Others Collaborate to Deepen ETF Market – Thisday
Following the hike in Monetary Policy Rate (MPR) to 24.75 per cent by the Central Bank of Nigeria (CBN), the banking sector average maximum lending rate rose to 29.38 per cent in March 2024, the highest since 2020.
According to the CBN money market indicator, the average maximum lending rate opened January at 27.07 per cent when MPR was at 18.75 per cent and dropped to 26.55 per cent when the Monetary Policy Committee (MPC) of the CBN hiked MPR to 22.75 per cent… ………………………………………………………………… ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
U.S., FCMB partner on $10m credit line for healthcare – Guardian
The United States Agency for International Development (USAID), United States International Development Finance Corporation (DFC) and First City Monument Bank (FCMB) have signed an agreement to launch a $10 million credit facility aimed at increasing financial access for healthcare businesses and transforming the sector.
The alliance will foster $10 million in health sector loans, particularly benefiting micro, small and medium-sized enterprises (SMEs), underserved communities, women and youth. … .. .,…. .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Zenith Bank shareholders approve record N125bn dividend – Punch
The shareholders of Zenith Bank Plc have approved the record N125bn dividend proposed by the group’s board of directors.
The approval was given at the 33rd Annual General Meeting of Zenith held at the Civic Centre, Victoria Island, Lagos, on Wednesday.
The bank’s directors had proposed a final dividend of NGN3.50 per share, bringing the total dividend for 2023 to N4 per share. . …. . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Okomu Oil threatens to shut down operations over attacks by militants – Nairametrics
The management of Okomu Oil Palm Plc has raised concerns that its multi-billion-naira investment in Edo State is at risk due to repeated militant disruptions and attacks on its personnel.  
The company’s Managing Director, Dr. Graham Hefer, highlighted this issue during an interview with the News Agency of Nigeria (NAN) on Wednesday at Okomu, located in the Ovia South West Local Government Area. , . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Underwriter promises rebate on life insurance cover – Guardian
AXA Mansard Insurance has revealed plans to pay back 100 per cent of the sum insured to policyholders at the end of tenure if the policyholder is still alive.
The underwriter said under the new life insurance product launched, called:
“Endowment Plan” the company will pay back the beneficiary of the policy the sum insured.. , . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Access Bank Group, Mastercard collaborate to enhance cross-border payments in Africa – Nairametrics
Access Bank Group has launched an innovative solution in collaboration with Mastercard to expand access to cross-border payments and remittances to and from the continent, bringing Africa closer to the global economy.
By leveraging the network and treasury capabilities of Mastercard Move, Access Bank, through its cutting-edge Access Africa platform, shall empower individuals and businesses to enjoy instant, traceable, seamless, and cost-effective international transactions..,.. , . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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