Daily Business Headlines – December 08, 2022



Equities Market Sustains Gain

Nigeria’s equities market closed in the positive region for the third time this week, after rising by 0.12 percent or N32 billion on Wednesday. Stocks like Nigerian Breweries, May & Baker, Honeywell Flour Mills and others helped push the market further north. The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its Market Capitalisation… Read More

CBN Warns Banks Against Payment Cards Discrimination

The Central Bank of Nigeria (CBN) has issued a warning notice to banks and acquirers to desist from the practice of payment cards discrimination, as observed breaches will attract appropriate regulatory sanctions. This was disclosed in a circular to all banks, switching companies and other parties in the Nigerian payments system titled… Read More


Customs Impounds N1.021bn Goods In Lagos

Authority in charge of the Federal Operations Unit (FOU), Zone A, of the Nigerian Customs Service (NCS) on Wednesday, said it intercepted about N1.021 billion worth of goods from smugglers in states in the South-West in the last one month. This is even it also recovered N44 million from undervalued goods within the period under review… Read More

Customers Have Right To Be Metered, NERC To DisCos

The Nigerian Electricity Regulatory Commission (NERC) has insisted that power consumers have the right to be metered by the Distribution Companies (DisCos) serving them.The Commissioner for Consumers Affairs at NERC, Aisha Mahmud, stated this in Abuja on Wednesday at the opening session of a NERC/Abuja Electricity… Read More



Adoption Of Sound Policies, Competent Leaders Key To Economic Growth –Experts

As part of efforts to proffering solutions to the many challenges bedeviling the country and impeding its economic growth and development, experts have advised that Nigeria needs to adopt sound and innovative policies as well as produce competent and committed leaders who would ensure strict implementation and compliance. The experts… Read More

Buhari Approves 2nd Term For Ahmad, Lametek As CBN Deputy Governors

President Muhammadu Buhari has reappointed Mrs. Aishah Ndanusa Ahmad, Deputy Governor, Financial System Stability, Central Bank of Nigeria and Edward Lametek Adamu, Deputy Governor, Corporate Services, Central Bank of Nigeria to serve second terms at the apex bank. In a letter read by Senate President Ahmad Lawan on the floor… Read More


Amid Challenges, Federal Government Hopeful Of 1.7 Million Tonnes Sugar Target In 10yrs

Nigeria needs another 10 years to meet its yearly sugar production target of 1.7 million metric tonnes capable of stemming the rising tide of sugar importation, while creating jobs, generating electricity and producing ethanol for industrial purposes. The Executive Secretary, National Sugar Development Council [NSDC], Zacch Adedeji… Read More



Abuse Of Power By Public Officers And Spouses

Of recent, some serving and former public officers and their spouses have been using the police and other security agencies to intimidate journalists, students and other citizens for daring to expose them for engaging in corrupt practices and abuse of power. In spite of the several judgments of domestic and regional courts which have upheld… Read More

2023 Campaigns: PDP, LP To Review CBN Withdrawal Ceiling

The Peoples Democratic Party Campaign Organisation and its Labour Party counterpart, are still reviewing the new Central Bank ceiling on daily and weekly cash withdrawals and its possible implication on their activities. Vanguard gathered in Abuja, on Wednesday, that none of the campaigns had envisaged the new policy which analysts… Read More



2023 Elections: Meta Sets Up Team To Monitor Facebook, Instagram Posts

Meta, the owners of Facebook, Instagram, and Whatsapp, said it has set up a cross-functional team spread across the world to monitor posts by Nigerians pre, during, and post-2023 elections in the country, especially on both Facebook and Instagram. According to Meta, the team was put together to tackle hate speech, misinformation… Read More