Daily Business Headlines – December 02, 2022



Equities Market Opens December With Bearish Tilt Amidst Robust Trade

The local bourse opened the new month mixed albeit with a bearish tilt as the benchmark index closed marginally lower by 0.01 per cent to settle at 47,656.64 basis points. At the Nigerian Exchange Limited (NGX) on Thursday, the market went lower as a 1.6 per cent loss in the share price of MTN Nigeria underpinned the one basis point decline… Read More


25 Firms Selected For $10.5m Nigeria-Czech Research Programme

Asset Management Corporation of Nigeria’s liabilities stood at N5.72tn as of the end of the first half of 2022. The Financial Markets Department of the Central Bank of Nigeria disclosed this in its ‘Half-year activity report 2022’ released on Thursday. It stated that, “The carrying value of AMCON’s liabilities stood at N5.72tn at end-June 2022… Read More


E-Transactions Up 42% On Mobile Phones, Internet Growth

The total value of electronic transactions recorded under the Nigeria Inter-Bank Settlement System Instant Payment increased by 42 percent in nine months owing to the steady rise in mobile telephony and internet penetration. According to the data, the value of transactions processed through the Nigeria Instant Payments platform amounted… Read More


NGX To Raise Retail Participation To 5m By 2025

Following the launch of the revised capital market master plan (RCMMP), the Nigerian Exchange Limited (NGX) has said it was looking forward to growing the current active retail participation level to 5 million by 2025. This is even as it revealed that it has… Read More



Emerging risks, rising energy costs cloud GDP growth projections, says LCCI

Notwithstanding projections of a positive growth for the country’s economy in the fourth quarter, the Lagos Chamber of Commerce and Industry (LCCI) has expressed concerns about emerging shocks, threats, and risks that have created fears of slowing growth and even recession in the coming quarters going into the new year 2023… Read More

Amid Headwinds, Air Cargo Demand Contracts By 13%

Global air cargo demand has recorded a 13 per cent dip, as the headwinds continue to affect demand. The International Air Transport Association (IATA) in the latest data released for October 2022, showed that capacity was 0.6 per cent below what was obtained in October 2021. This is the first year-on-year contraction since April 2022… Read More


Calls For FG To Rethink Housing Intensify On Shrinking Budget

Stakeholders, especially private sector players, in the Nigerian housing sector have intensified calls for the federal government to quit housing provision, following a significant drop in the 2023 budget for the ministry of works and housing. For them, the dwindling budgetary allocation portends a lot of negatives for the government’s… Read More




IN SPITE of provisions in the Electoral Act 2022 prescribing various punishments for campaign of calumny, the various parties and candidates are still indulging in it since campaigns started on September 28, 2023 and the Independent National Electoral Commission, INEC, is yet to sanction anyone. Leaders and candidates… Read More


CIN To Address Gaps In Money Laundering, Terrorism Financing

With several challenges of financial crimes, emerging money laundering and terrorism financing (ML/TF) threats evolving around the global landscape, members of the Compliance Institute of Nigeria (CIN) have concluded plans to up their game in addressing issues of anti-money laundering and combating financial terrorism. The institute said this… Read More



Digital Payment Evolution Crucial For SMEs Growth – Visa

Visa, a payment solution for individuals and businesses has said  around the world, investment into digital transformation is paving the way for growth across Central Europe, Middle East and Africa region and thus Small and medium sized businesses must embrace this digital pay order. Visa disclosed this in a report titled: Destination… Read More