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Daily Business News Brief – July 11th, 2024

11
Jul

Equity investors lose N2bn – Punch
The Nigerian equity market continued to bleed for the third consecutive day this week as investors lost N2.18bn on Wednesday.
The All Share Index and the market capitalisation dipped marginally by 0.004 per cent to close at 99,802.08 and N56.46tn, respectively. ..……..Read More
Bank recapitalisation: 10 key factors investors should look out for – Vanguard
Nigeria is embarking on an ambitious plan to recapitalise its banks to bolster their financial stability and resilience.
This initiative aims to enhance the sector’s capacity to support economic growth and withstand financial shocks….……..Read More
Access Holdings Plc Rights Issue: The Takeaways – Nairametrics
On July 7, 2024, Access Holdings Plc announced that it received approval from the Securities and Exchange Commission to execute a rights issue of 17.772 billion ordinary shares at N19.75 each, based on 1 new share for every 2 held as of June 7, 2024..……..Read More
Lasaco Assurance launches children education plan – Punch
Lasaco Assurance Plc has launched a children’s education plan, designed to ensure the continuation of their education in case of financial setbacks or the loss of a parent/guardian.
In a statement made available to our correspondent, it was disclosed that the plan ensured continuity in education and provided ..……..Read More
‘Fidson expansion projects reflect belief in Nigeria’ – Punch
The founder and Managing Director of Fidson Healthcare Plc,  Dr. Fidelis Ayebae, has stated that the firm’s expansion strategy was motivated by its conviction that it could help the nation’s pharmaceutical industry flourish.
Ayebae said this during the 25th annual general meeting of the company, held recently in Lagos.……..Read More
AIICO Insurance surpasses N200bn in claims payments – Punch
AIICO Insurance Plc has surpassed N200bn in claims and benefits settlements over the past five years.
A review of AIICO’s claims and benefits settlements from 2019 to 2023 indicated that within the five years, the firm paid about N200.9bn with the highest payout made in 2021 (N47.3bn), followed by 2023, when it paid out N46.5bn.……..Read More
Regulatory Order: African Alliance Board Summoned To Abuja – Independent
Following increased com­plaints by annuitants and insurance claimants against African Alliance Insurance Plc in respect of the company’s delay and/or inability to fulfill its obligations, the Na­tional Insurance Commission (NAICOM) has summoned the board of directors of the compa­ny to its headquarters.……..Read More
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