Daily Business Headlines – April 28 2023


Nigerian Stock Market Ends On A High Note With Market Capitalization Up N75 Billion

The Nigerian Exchange (NGX) closed positive amidst buy-interests and sell-offs as bulls regain dominance, driving up the broad market. The All-share Index (ASI) appreciated by 0.26% to close at 52,235.88 points. In the same vein, Market Capitalization grew by N75 billion to close at N28,442 trillion while the Year-to-Date (YtD) returns settled… Read More


LASG Moves To Standardise, Boost Commodities Export

The Federal Government, on Thursday, in Abuja, revealed that it was compiling reports from the 36 states nationwide as part of efforts to determine the extent of damage from the flooding of 2022, and to provide relief for affected persons. This came as 16 states submitted their reports revealing the flood-driven damages and losses, possible… Read More

$2.4bn Diversion Claim Baseless – Malami

The Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN), has told the House of Representatives that the allegation that 48 million barrels of crude oil valued at over $2.4bn were sold to China is false. Malami stated this on Thursday when he, in company with the Permanent Secretary, Ministry of Justice/Solicitor… Read More


CBN Takes E-Naira Campaign To Rivers Varsities

The Central Bank of Nigeria on Thursday sensitized students of the University of Port and Ignatius Ajuru University of Education on e-Naira, calling on them to embrace the digital currency and also drive its awareness. The Branch Manager of CBN Port Harcourt, Mr Maxwell Okoroafor, said the need to embrace e-Naira by all Nigerians was… Read More



Federal Government Suspends Planned Removal Of Fuel Subsidy

The Federal Government has suspended plans to remove fuel subsidy by June this year. Minister of Finance, Budget and National Planning, Ahmed Zaniab gave the indication on Thursday, shortly after the National Economic Council, NEC, meeting, chaired by the Vice President, Yemi Osinbajo. She said the NEC, which comprises State… Read More


Buhari, Govs To Meet On New Revenue Sharing Formula

Governors of the 36 states of the federation have resolved to meet with the President, Major General Muhammadu Buhari (retd.), over the new revenue draft presented by the Revenue Mobilisation Allocation and Fiscal Commission in 2022.The Chairman of the Nigeria Governors’ Forum, Governor  Aminu Tambuwal of Sokoto State, disclosed… Read More

US, Nigeria Unveil $38m Upgraded Air Force Base

Senior United States Department of State and Department of Defence officials joined Nigeria’s Chief of the Air Staff, Air Marshal Isiaka Amao, and other Nigerian partners to celebrate the completion of the $38m improvements to the Kainji Air Force Base on Thursday. According to a statement, the base improvements were delivered… Read More



We’ve Not Zoned Leadership Positions For 10th NASS – APC

The All Progressives Congress, APC, has said the ruling party has not zoned the leadership positions for the 10th National Assembly. The National Publicity Secretary of the party, Felix Morka disclosed this in a statement issued Thursday night. He said any report to the contrary did not emanate from the party, adding that any decision made in… Read More


Nigeria, Italy Reaffirm Commitment To Global Counterterrorism Efforts

Nigeria and Italy have reaffirmed their commitment to strengthening criminal justice and the rule of law in combating terrorism across the globe. This commitment was demonstrated when the two countries co-chaired the seventh Plenary Meeting of the Global Counterterrorism Forum’s (GCTF) Criminal Justice and Rule of Law… Read More



Financial Risk Technology Firm Set To Make Nigeria Entry

FACCTUM, a UK-based risk tech company specialising in watch list management and sanction screening services is set to bring its expertise to Nigeria by offering an array of technology, data compliance and management solutions to banks and other financial institutions (OFIs).The firm in a statement noted that it prepares to hold… Read More