Daily Business Headlines – December 12, 2022


Equities Extend Gains To Four Weeks Ahead Of Year-End Rally

With the yuletide season and year-end celebrations expected to usher in a bullish run, the capital market has extended its bullish momentum for the fourth consecutive week due to buying interest in BUA Cement Plc (+19.1 per cent), Nestle Nigeria Plc (+1.7 per cent) and Ecobank Transnational Incorporated Plc (+11.4 per cent)… Read More


Bankers’ Committee Agree To Generate N500bn In Loans For Exporters Annually

The Bankers’ Committee comprising the Central Bank of Nigeria (CBN), Chief Executive Officers of Deposit Money Banks (DMBs) and other financial institutions over the weekend agreed to generate at least N500 billion in loans to exporters annually to nurture domestic production and grow export value in Nigeria. In a communiqué issued… Read More


Activists Express Worry Over Cash Withdrawal Limit

Discontent over the Central Bank of Nigeria’s cash withdrawal policy is growing, with the Human Rights Writers Association calling on the National Assembly to use its legislative powers to kick out the governor of the Central Bank of Nigeria, Godwin Emefiele. The group made the call in a statement signed by its National Coordinator… Read More

CBN Eyes Payment System, Financial Inclusion

Governor of the Central Bank of Nigeria, Godwin Emefiele, has reiterated his commitment to build a robust payment system in Nigeria.Emefiele made this known in Gombe during the All-Financial Institutions Football Competition, organised with the support of the Nigeria Football Federation. The FIRS emerged winner after defeating… Read More



Federal Government to Earn $3bn Annually from Hibiscus Export to Mexico

The Comptroller General, Nigeria Agricultural Quarantine Service (NAQS), Dr. Vincent Isegbe, has said the country is expected to earn about $3 billion annually from hibiscus exports to Mexico. Both NAQS and its Mexican counterpart body, SENASICA, signed a phytosanitary protocol in November to stabilise and grow the export… Read More


Document Of Cooperation Has Stabilised Oil Market –OPEC

The Organisation of Petroleum Exporting Countries (OPEC), at the weekend, described the Document of Cooperation (DoC) between the cartel and non-OPEC members as a major plank that has helped stabilise the oil market by insulating it from widespread tremors. OPEC Secretary General, Haitham Al Ghais, in a statement, on Saturday… Read More


Capital Market Players Target Higher GDP Contribution

Stakeholders in the capital market have criticised the 10 per cent contribution of the Nigerian capital market to the economy.The stakeholders, who spoke at the 11th annual conference in Lagos on Saturday, said the current performance of the Nigerian capital market to the Gross Domestic Product was low. While speaking at the conference… Read More



2023 General Elections: INEC Seeks Co-Operation Of NYSC

The Independent National Electoral Commission (INEC) Resident Electoral Commissioner (REC) for Ondo state, Ambassador Rufus Oloruntoyin Akeju, has said corps members serving in all the states of the federation remain the core ad-hoc personnel the commission rely on to prosecute elections. The REC made the assertion during… Read More


2023: Manifestos Fall Short As Nigeria Faces Critical Juncture

Nigeria’s next president would inherit a country where at least 133 million people suffer from multidimensional poverty as well as high unemployment rate and double-digit inflation rate, but analysts are taking the frontrunners’ manifestos with a pinch of salt. The presidential candidates in the forthcoming general election have been urged… Read More



1.4 Million Pos Operators May Lose Jobs – Bank Agents Association Boss

The National President, Association of Mobile Money and Bank Agents in Nigeria, Victor Olojo, speaks to JOSEPHINE OGUNDEJI on the impact of the recent Central Bank of Nigeria’s cash withdrawal policy imposed on point of sale terminal operators. How would you describe the new CBN policy which has reduced cash withdrawal… Read More