MTN Nigeria highlights N879bn tax remittance as NGX ASI rises 1.62%
The NGX ASI closed up 1.62% at 1,794.03 on May 28, extending a rebound after the 2.21% gain on May 25 cited in market notes. MTN Nigeria said it remitted N879 billion in taxes amid revenue and profit growth, Punch Newspapers reports. The company also said it aims to connect 8 million homes to fibre by 2028, while population coverage reached 93.7% and N2.7 billion was invested in communities, according to Africa Business Communities and Encomium Magazine. MTN Nigeria also reported a 6.4% cut in emissions, The Guardian Nigeria News says.
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Nigerian Exchange — Insurance Stocks Jump as LinkAssure Gains 9.9% Despite 30 Decliners
Insurance names led the Nigerian Exchange on Wednesday, with LinkAssure up 9.9% and FTGInsure up 7.7% after an African Alliance Insurance recapitalization update. The NGX ASI rose 0.50%, but gains came in a narrow market with 18 advancers against 30 decliners.