Daily Business Headlines – December 22, 2022



Market Up 0.12% Despite Minimal Activity On The Bourse

Despite that overall activity level remains minimal at the Nigerian Exchange Limited (NGX), the stock market still closed in the positive region on Wednesday. As investors gradually wind down for the yuletide holiday season, the market increased slightly by 0.12percent at the close of trading session. The Nigerian Exchange Limited (NGX)… Read More

Nigeria burns $685m gas as flare sites project drags on

Nigeria has flared natural gas valued at $685 million since January, according to the official data, a development that highlights the country’s failure to activate a programme planned to commercialise gas flares. According to the Nigerian Gas Flare Tracker, a satellite-based technology created by the National Oil Spill Detection and Response Agency… Read More


Insurance Premium Hits N532.7 Billion In Nine Months

Insurance industry players said they recorded a premium income of N532.7 billion in the first three quarters of the year despite concerns about the bad economic situation in the country. This was contained in a bulletin of the sector market performance released by the National Insurance Commission (NAICOM) on Tuesday.It stated that the sector… Read More


Inflation Forces Nigerian Households To Cut Christmas Spend

The Central Bank of Nigeria, CBN, has raised its weekly cash withdrawal limits set for individuals and corporate organisations to N500,000 and N5 million, respectively. The earlier limits pegged individual cash withdrawals per week at N100,000; while corporate organisations were limited to weekly withdrawals of N500,000… Read More



CBN Releases Security Features Of New Naira Notes Amid Counterfeiting Concerns

Amidst concerns of counterfeiting, the Central Bank of Nigeria (CBN) on Wednesday, released details and position of the security features in the new Naira notes. There had been concerns from Nigerians after the Deposit Money Banks (DMBs) started circulating the notes last week. Many respondents who spoke to Daily Sun said they were afraid… Read More

Oil Production To Hit 3m Bpd Soon –Federal Government

With the battle against crude oil theft and pipeline vandalism yielding positive results, the Minister of State, Petroleum Resources, Mr Timipre Sylva, said the country is on track to restoring crude oil production to full capacity of three million barrels per day within a very short time. He said that the Federal Government was working… Read More


Emefiele: Nigeria Risks Suspension By Egmont Group Over DSS’ Allegations

The Center for Financial Surveillance and Illicit Transaction Tracking Group (CSITT) has raised the alarm over the looming consequences of the Department of State Services’ (DSS) attempt to arrest Governor, of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, on trumped up charges of terrorism financing and other crimes. The group in a… Read More



2023: Desist From Campaigns Of Calumny, Patriots Roundtable Task Politicians

A political pressure group, the Patriots Roundtable, yesterday, urged politicians and political parties participating in the 2023 general elections to desist from campaigns of calumny and abuse. In a statement by its Director -General, Uthman Shodipe-Dosunmu, titled: ‘Tinubu and his Traducers in the Season of Goodwill’, the forum insisted that the… Read More


2023: Politicians Buying PVC Wasting Time, Resources – INEC

The Independent National Electoral Commission (INEC) Wednesday said politicians buying Permanent Voter’s Cards (PVCs) for the 2023 general elections are wasting their time, energy and resources. INEC national commissioner in charge of Voters Education and Publicity, Mr. Festus Okoye, stated this at a one- day training for journalists… Read More



Federal Government Seeks Expansion Of Nigeria’s Software Sub-Sector

The Federal Government through the Minister of Communications and Digital Economy, Prof. Isa Pantami, has said that quality software development will be essential in expanding Nigeria’s digital economy. Pantami made the remark at the first Software Testing Conference in Nigeria themed, ‘Impact of Software Quality Assurance… Read More