Daily Business Headlines – January 30, 2023



Stock Capitalisation Appreciates By 0.12%

Trading activities on the floor of the Nigerian Exchange wrapped up the week bullish as stock investors raked in N34bn from January 23 to January 27, 2023. The upturn for the week was impacted by gains in the banking and NGX growth indices which appreciated by 1.65 per cent and 4.20n per cent from 438.79 points to 446.03 bps, and from… Read More

Domestic Bond Demand To Rise Over Eurobond Cut

Operators in the Nigerian capital market have said the Federal Government’s plan to curb borrowing from international capital markets will boost the demand for the domestic bond market. Recall that Nigeria’s Minister of Finance, Zainab Ahmed, had disclosed in a discussion during the annual meetings of the International Monetary Fund and… Read More


Liquidity Constraint, Poor Incentives Stall Market-Making Takeoff

The Nigerian Exchange Limited (NGX) has listed illiquidity and failure to attract the needed capital as major setbacks to the takeoff of the market-making initiative. Besides, lack of incentives such as enhanced revenue opportunities as well as attractive transaction and regulatory fees are listed as some of the constraints.Market making occurs… Read More


Second Certified Corporate Sukuk Makes Debut For Trading

Nigeria’s second certified corporate Sukuk, the Family Homes Sukuk Issuance Programme Plc (FHSIP) N20 billion Sukuk, was at the weekend listed on the Nigerian Exchange (NGX), deepening the pool of tradable alternative securities at the stock market. Listing report obtained at the weekend indicated that a total of 20 million units of the… Read More



Understanding CBN’s cashless policy

It is impressive to observe the determination of the Central Bank of Nigeria, CBN, to follow through with the laudable cashless policy which it introduced into Nigeria’s banking system. As the apex bank had explained, the cashless policy is aimed at scaling up financial inclusion and reducing cases of armed robbery, kidnapping, terrorism… Read More


CBN Deploys 30,000 Agents Nationwide To Boost Cash Swap As Buhari Approves Deadline Extension

The Central Bank of Nigeria (CBN) has deployed 30,000 super agents nationwide to enhance its cash swap initiative in the hinterlands, rural areas and regions underserved by banks in the country, just as it announced President Muhammadu Buhari’s approval of the extension of the deadline for the return of old N200, N500 and N1,000 from… Read More

IBEDC to Inject N14b in Infrastructure, Says MD

The Ibadan Electricity Distribution Company (IBEDC), has announced its commitment to inject about N14 billion into improving service delivery in its franchise areas. The Managing Director of the distribution company, Mr. Kingsley Achife, made the disclosure while speaking with journalist at the company’s headquarters, in Ibadan, the Oyo… Read More



2023 Vote: It’s Now The Turn Of A Prince

BECAUSE Nigeria has a near-naughty knack for nibbling at the past, history is also going full circle to dish us troubling traditional tricks and torments. One such is the dithering act we’re taking straight from English playwright William Shakespeare’s historical classic, Hamlet, as the ballot day approaches. he tragic hero, Prince Hamlet, isn’t sure which path… Read More


Presidential Candidates’ Housing Plans Empty – Operators

Operators in the built industry have expressed concern that the top four presidential candidates have not prioritised housing in their electioneering campaigns. The Executive Secretary of the Association of Housing Corporations of Nigeria, Toye Eniola, said the candidates of the People’s Democratic Party, All Progressive Congress… Read More



FG Probes Banks, Fintechs Over Data Privacy Violation

The Minister of Communications and Digital Economy, Dr Isa Pantami has urged the Nigerian Data Protection Bureau to investigate banks and data-processing firms on data privacy and protection compliance. He said this during a press conference on Saturday in Abuja to kick off National Privacy Week 2023. The minister said… Read more