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Daily Business News Brief – June 11th, 2024

11
Jun

Equity market starts week with N323bn gain – Punch
The equity market gained N323bn on Monday buoyed by appreciation by Flour Mills Nigeria, Total Nigeria, Access Holding and 27 others.
At the close of trading, the market capitalisation and the All Share index rose by 0.58 per cent to settle at N56.52tn and 99,793.71 points, respectively………………………………………………………………………………………………………………………………………….. .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
CBN reaffirms financial stability of banks – The Nation
The Central Bank of Nigeria (CBN) has refuted allegations that it is contemplating the revocation of operating licences for Fidelity, Polaris, Wema, and Unity Banks.
This clarification came amidst concerns about the stability of some Nigerian banks following the licence revocation of Heritage Bank Plc..  . ….. ………………………………………………………………… ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Bank recapitalisation will boost capital market – ASHON chair – Punch
The Chairman of the Association of Securities Dealing Houses of Nigeria, Sam Onukwue, has said that the newly proposed capital requirements for banks will ignite the primary segment of the Nigerian capital market.
In a statement made available to The PUNCH on Monday, Onukwue said that the market had been largely dormant due to a lack of issues over the years… …………………….. . … .. .,…. .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Jaiz Bank finances 10,000-hectare rice farm in Bauchi – Dailytrust
 
Jaiz Bank Plc, the pioneer Non-Interest Bank in Nigeria, has provided funding for the establishment of a 10,000-hectre irrigation farm for one of its reliable business partners in Bauchi State, Tiamin Rice Limited.
In a statement, Jaiz Bank said the farm received the funding under a collaborative effort of the Private Sector-Led Accelerated Agricultural Development Scheme (P-AADS) of the Central Bank of Nigeria (CBN) and Jaiz Bank’s……… …. . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Airtel’s customer base hits 152.7million – The Nation
Airtel Africa yesterday said it has grown its customer base to 152.7 million across its 14 markets on the continent, adding that it has expanded the 4G network and reaching 70.7per cent of the population in these markets, marking a 4.9per cent increase since 2022/23
According to its 2024 Sustainability Report, the telco said it introduced 5G services, now covering 4.14 per cent.. .. … , . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Norrenberger Advisory to acquire 634 million shares in IEI takeover – Punch
Norrenberger Advisory Partners Limited has announced its intention to acquire an additional 634 million ordinary shares in International Energy Insurance Plc through a mandatory takeover bid.
That was disclosed in a document filed by the company on the Nigeria Exchange Limited. ………,.. , . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Access Bank completes acquisition of BancABC Tanzania – Vanguard
Access Bank Plc, has announced the successful completion of its acquisition of African Banking Corporation (Tanzania) Limited (“BancABC Tanzania” in line with its strategic expansion goals. 
This milestone follows the Bank’s initial announcement in July 2023 and marks yet another step in its journey……….,.. , . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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