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Daily Business News Brief – July 8th, 2024


Stable interest rate depends on low inflation, says Cardoso – Guardian
The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has stated that the country would witness stability in interest rates once the apex bank can control and reverse galloping inflation.
Galloping inflation refers to a rapid and accelerating increase in the general price level of goods and services in an economy.……..Read More
SEC DG tasks operators on sustainable devt, innovative financial instruments – Guardian
Innovative financial instruments have the power to unlock new opportunities, foster growth, and address pressing socio-economic challenges, Director General of the Securities and Exchange Commission, Dr Emomotimi Agama, said.……..Read More
Four banks open bid to raise N1tr from capital market
• CBN projects resilient financial  institutions 
• What 2004 consolidation achieved, by Soludo –  The Nation
Banking recapitalisation got unto the fast-lane with four banks jostling to raise more than N1 trillion in the first cluster of offers.
This is expected to be hallmark of the two-year plan.……..Read More
Brewing industry choking over high cost of raw materials – Vanguard
The brewery industry is now facing severe cost pressure as prices of local raw materials rise astronomically undermining their backward integration strategy.
Industry stakeholders said the cost pressures coming from sorghum, wheat and others would remain elevated,……..Read More
Cornerstone Insurance eyes improved growth – Punch
The Managing Director/Chief Executive Officer of Cornerstone Insurance, Stephen Alangbo, has projected a brighter for the firm as he commemorated his first year in office at the firm.
Alangbo, during a press briefing in Lagos on Friday, highlighted some of the company’s achievements in his time in office. ……..Read More
MTN pays over N549bn in taxes, levies to FG – Report – Punch
MTN Nigeria Communications Plc has announced that it contributed N549.3bn in taxes and levies to the Nigerian government.
This was disclosed in the company’s 2023 Sustainability Report filed with the Nigeria Exchange Limited.……..Read More
Chams HoldCo Expands to Drive Profitability, Boost Shareholders’ Value – Thisday
Chams Holding Company Plc, has embarked on corporate expansion to promote organic growth, boost earnings and deliver shareholder value.
Despite the inclement operating environment, the leading fintech company’s revenue increased to N9.6 billion in 2023……..Read More
Guinness Reaffirms Commitment to Nigerian Market, Rewards Trade Partners – Thisday
In recognition of the vital role played by its trade partners across Nigeria, Guinness Nigeria, has concluded its fiscal year 2024 with a two-day business conference, awards ceremony and affirmation of its commitment to the trade partners and the market…….Read More
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