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Daily Business News Brief – June 25th, 2024

25
Jun

Stock Market Drops by N707bn on Profit-taking in Airtel, 25 Others – Thisday
The stock market, yesterday commenced on a negative note in the last trading week in June 2024 as  profit-taking in Airtel Africa Plc (-2.5per cent), and 25 others down the overall capitalization by N707 billion.
The Nigerian Exchange Limited All-Share Index (NGX ASI) shed 438.93 basis points or 0.44 per cent to close at 99,304.12 basis points. Also, market capitalisation declined by N249 billion to close at N56.175 trillion.. ………………………………………………………………………………………………………………………………………….. .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Annual report: NGX slams N76.8m fine on 9 firms – Dailytrust
The Nigerian Exchange Limited (NGX) has imposed a N76.8 million fine on nine quoted companies for failure to file their audited financial statements after the regulatory due date.
A report by Nairametrics indicated that the companies were sanctioned for their inability to meet the regulatory requirements for the year-end 2022 and 2023 financials….   . ….. ………………………………………………………………… ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
SEC urges businesses to adopt sustainable, climate-friendly solutions – Dailytrust
The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has stated that the principles of sustainable finance, opens a new vista for all market intermediaries, trustees inclusive, to take their businesses and client relationships to a new and higher level.
He therefore urged businesses to move towards more sustainable and climate-friendly solutions…… …………………….. . … .. .,…. .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Otedola Acquires Additional N17.2bn Worth of FBN Holdings’ Shares, Now Holds 11.64% Stake – Thisday
The Chairman of FBN Holdings Plc, Mr. Olufemi Otedola, has purchased an estimated N17.2billion worth of shares in the holding company to further cement his position as the single largest shareholder of the financial institution.
In a notice signed by the company secretary, Mr. Adewale Arogundade, which was posted on the Nigerian Exchange Limited (NGX), about 797,946,415 at N21.58 kobo per share was purchased by the billionaire investor on June 24, 2024……….. …. . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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