Headlines news for the day.

Investors Lose N28.05bn WoW as NGXASI Dips by -0.12% to Close the Week Negative

Equities market closed on a negative note, as NGXASI depreciated by -0.20% to close at 43,199.27 basis points as against -0.15%  depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +7.27%.

Market breadth closed negative as UNITYBNK led 14 Gainers as against 22 Losers topped by ETERNA at the end of today’s session – an improved performance when compared with previous outlook.   

Market turnover closes negative as volume moved down by -5.24% as against -20.49% downtick recorded in the previous session. GUARANTY, FBNH and ACCESS were the most active to boost market turnover.  GUARANTY and NB topped market value list.

TRANSCOHOT leads the list of active stocks that recorded impressive volume spike at the end of today’s session.

Real estate emerges world’s most popular store of wealth

Countries store over 60% of wealth in real estate
Two-thirds of global net worth is stored in real estate and only about 20 percent in other fixed assets, according to consulting firm, McKinsey.

POS usage rises 91% in three years as Nigerians embrace agent banking

Nigeria’s volume of Point of Sale (POS) transactions has increased by 91 percent in three months, according to data from the Nigeria Inter-Bank Settlement System (NIBSS). The country’s POS transactions jumped from 7.94 million in 2017 to 91.38 million in October 2021

 

 

Buhari signs climate change, AMCON amendment bills into law

President Muhammadu Buhari, yesterday signed into law two bills -the Climate Change Act and the Asset Management Corporation of Nigeria (AMCON) amendment act. The Climate Change Act owes its origin to a bill sponsored by a member of the House of Representatives, Sam Onuigbo

FG warns against inappropriate use of antimicrobials in food production

The Federal government through the Ministry of Agriculture and Rural Development has warned against the inappropriate use of antimicrobials, pesticides in food production and preservation, stating that it causes the spread of resistant infection. Speaking during the flag-off ceremony

Senate Passes Tertiary Hospitals Development Tax Fund Bill

The Senate of the Federal Republic of Nigeria recently passed the Tertiary Hospitals Development Tax (THDT) Fund Bill, 2021 (“the Bill”) for the establishment of the THDT Fund (“THDTF” or “the Fund”). The Fund will be used to facilitate the rehabilitation, restoration, and consolidation of Tertiary Healthcare in Nigeria.

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