Daily Business Headlines – JUNE 19 2023


FTN COCOA, UNITY BANK Lead As NGX Top Gainers For The Week

The Nigerian Exchange (NGX) closed bullish as the All-Share Index appreciated by 5.49% in the week ended 16th June 2023. The market opened for four trading days this week as the Federal Government of Nigeria declared Monday 12th June 2023 as Public Holiday to commemorate Democracy Day. The Market Capitalization gained… Read More


CBN Removes Saving, Withdrawal Limits On Domiciliary Accounts

The Central Bank of Nigeria has lifted the limits placed on domiciliary accounts. In a statement by the CBN on Sunday, the new regulation allowed account holders to deposit freely, have unrestricted access to funds in accounts, and make up to $10,000 withdrawals daily. The statement was titled ‘CBN issues further guidance on… Read More


Pencom Records 95,045 Micropension Participants Valued At N435.61m

The National Pension Commission (PenCom) said it has recorded 95,045  number of registered micropension participants with total value of the Micro Pension Plan (MPP) Fund of N435.61million as at April 2023. Director General, PenCom, Aisha Dahir-Umar, disclosed this at the maiden edition of the Micro Pension Open Day organised… Read More


Obaseki: Nigeria Spends over $500m on Importation of Dairy Products Annually

The Edo State Governor, Mr. Godwin Obaseki, has said the nation spends about $500 billion (N300 billion) annually on the importation of dairy products, reiterating the need for the country to refocus on agriculture and production to drive economic growth and development. The governor said this when he received a team from Heifer… Read More



Money Laundering Threatening Financial System – CIBN

The President/Chairman of Council, Chartered Institute of Bankers of Nigeria, Ken Opara, has said trade-based money laundering poses a significant threat to the integrity of the global financial system and has far-reaching implications for regulators and operators alike. He spoke at the CIBN breakfast session themed, ‘Countering… Read More

FG Summons Oil Marketers, Set To Close Equalisation Fund

Following the deregulation of the downstream petroleum industry, the Federal Government has begun the process of closing down the Petroleum Equalization Fund, The PUNCH has learnt. The move, it was gathered, was in line with the provisions of the Petroleum Industry Act 2021. The PUNCH gathered the meeting held in Abuja between… Read More


DBN Empowers 313,000 MSMEs With N230bn In 5 Years

In the bid to create growth across key sectors of the economy, the Development Bank of Nigeria (DBN) said it has disbursed more than N230 billion to support small businesses in the trades and commercial sectors of the country over the past 5 years leading up to December 2022. Managing Director and CEO of the bank, Dr Tony… Read More



10th Assembly Will Work With Tinubu To Create Favourable Business Climate — Akpabio

President of the Senate, Godswill Akpabio, has assured Nigerians and the international business community of the readiness of the 10th National Assembly to work with the President Bola Tinubu-led administration to provide an enabling business environment and also make life worth living for the generality of Nigerians. Akpabio gave… Read More


Again, Northern Group Applauds Tinubu Over Suspension Of Bawa

A Northern group, the Arewa Civil Society Organization (ACO), has lauded President Bola Ahmed Tinubu over suspension of the embattled Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa. The group also called for the arrest of all his allies indicted in the allegations of his misdeeds. In a statement… Read More



800m Women Need Mobile Internet To Close Gender Gap By 2030 Over 800 million women will need to adopt mobile Internet to close the digital gender gap by 2030 across low- and middle-income countries (LMICs), according to the latest Mobile Gender Gap Report published by the GSMA. GSMA said the latest figures indicate that the gulf between the numbers of men and women using mobile Internet will… Read More