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Daily Business News Brief – July 10th, 2024


Equity market sustains bearish trend with N114bn loss – Punch
The bearish trading pattern was sustained on the Nigerian exchange on Tuesday, resulting in a N114bn deduction from the wealth of investors.
The market capitalisation and the share index dipped by 0.20 per cent to close at N56.46 and 99,805.95, respectively..……..Read More
Liquidity: Banks, Others Deposit N4.95tn with CBN in June 2024 – Thisday
Nigerian Banks and merchant banks in June 2024 opted to deposit an estimated N4.95 trillion excess liquidity with the Central Bank of Nigeria (CBN) amid challenges in the foreign exchange market and double-digit inflation rate………..Read More
NGX Suspends Eight Listed Companies over Market Infraction – Thisday
For not submitting a full year ended December 31, 2023 result and accounts, the Nigerian Exchange Limited (NGX), yesterday disclosed that it has suspended eight listed companies.
The eight companies are: Guinea Insurance Plc, Lasaco Assurance Plc, Mutual Benefits Assurance Plc..……..Read More
Access Bank Targets Top 20 In UK, $1bn Profit By 2027 – Independent
Access Bank, Nigeria’s largest bank, said that its wholly owned subsidiary, Access Bank UK is well positioned to become one of the top 20 banks in the United Kingdom, generating profit of about $1 billion annually by 2027..……..Read More
Trans-Nationwide Express plans rights issue – Punch
Trans-Nationwide Express Plc has announced plans to expand its share capital through a rights issue.
In a corporate notice filed with the Nigerian Exchange Limited and signed by the company secretaries ……..Read More
NEM grows revenue to N52.1b
. To set up Life Insurance – The Nation
NEM Insurance has grown its revenue from N31.4 billion in 2022 to N52.1billion in 2023, representing an increase of 66 per cent.
Its Group Chairman, Mr. Tope Smart, made this known at the company’s 54th Annual General Meeting (AGM) in Lagos. .……..Read More
Industry Veteran, Denis Simonin Joins Beta Glass Board – Thisday
Beta Glass Plc, has announced the appointment of industry veteran and Etex’s former Country Manager for Nigeria, Mr. Denis Simonin to its Board of Directors.
A statement from the company said the strategic move was aimed ……..Read More
Wema Bank is Empowering Entrepreneurs Unlock Their Potential – Thisday
According to the World Bank, “Micro, Small, and Medium Enterprises (MSMEs) are universally acknowledged as critical drivers of economic growth, innovation, and job creation, constituting over 90% of businesses worldwide.”. They significantly contribute to GDP and……..Read More
Rights Issue Will Reinforce Our Leadership In Nigeria, Africa- Access Holdings – Independent
The leadership of Access Holdings said its rights issue, which began on Monday, will further reinforce the leadership of the bank as the biggest bank in Nigeria and the most respected bank in the African continent.…….Read More
MNOs offer data management tips as MTN’s capex rises to N571 billion – Guardian
In a concerted effort to address widespread complaints about data depletion, Nigeria’s mobile network operators (MNOs) have collaboratively launched a consumer sensitisation campaign aimed at providing practical guidance for more effective data management.…….Read More
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