Daily Business Headlines – JUNE 20 2023


NGX Starts The Week With A Marginal Increase, Led By Universal Insurance Plc

The Nigerian Exchange (NGX) closed positive as the equity market saw marginal gain to begin the week. The All-Share Index (ASI) traded 0.02% higher to close at 59,014.85 index points as against 59,000.96 index points recorded in the previous day’s trading session. The market capitalization of equities saw a marginal gain of N8 billion… Read More


Naira Weakens To 770.38/$ At Official Market

The naira slumped further to the dollar after closing at 770.38/$ at the end of trading on the investor & exporter forex window on Monday. According to figures obtained from the FMDQ on Monday, the trading rates had closed at N686.96/$ on Friday. Trading opened at N703.50/$ and hit a high of N799/$ before closing at N770.38/$… Read More

Sanwo-Olu, SEC, IFC Renew Call For Gender-Focused Initiatives

The Governor of Lagos State, Babajide Sanwo-Olu has joined the Securities and Exchange Commission, Nigerian Exchange Limited and the International Finance Corporation to renew calls for more gender-focused initiatives that will create increased opportunities for women in leadership, employment, and entrepreneurship in the Nigerian private… Read More


60% Imports Through Lagos Ports Retained In State — Customs

The Customs Area Controller, CAC of the Kirikiri Lighter Terminal, KLT, Command of the Nigerian  Customs Service, NCS, Timi Bomodi, has said that about 60 per cent of imported cargo through the Lagos ports do not go out of Lagos. Bomodi who disclosed this while playing host to the new executive members of the Maritime Reporters… Read More



Federal Government Seeks US Support For Energy Transition

President Bola Tinubu, on Monday, in Abuja, called for an equitable balance between fossil fuel and green energy in the race for energy transition. He also urged the United States and other developed nations not to forget Nigeria and Africa’s challenge with poverty as the world transitions into clean energy. The new energy we are talking… Read More


Inflation: Government Should Cut Taxes On Basic Items — LCCI

The Lagos Chamber of Commerce and Industry (LCCI) has called on the federal government to cut taxes on basic food items to mitigate the effect of rising inflation on the most vulnerable Nigerians. LCCI made the call against the backdrop of the Consumer Price Index (CPI) data released last Thursday by the National Bureau of… Read More


Free Trade Zones Attracted N18bn Investments In Q1

Managing Director of NEPZA, Prof. Adesoji Adesugba who stated this yesterday in Abuja during an interview with journalists also disclosed that Nigeria has 55 Free trade zones, out of which 30 are functional while others are being refurbished or constructed for operations. About 18.4 million dollars foreign direct investment and N9.1 billion… Read More



Applause As Tinubu Fires Service Chiefs, Dissolves Boards Of Agencies

President Bola Tinubu stamped his imprimatur as Commander in Chief of the Armed Forces, yesterday, when he sacked the entire nation’s Service Chiefs, the Inspector General of Police, IGP Usman Baba Alkali, as well as the Comptroller General of the Nigeria Customs Service, Col. Hameed Ali (rtd.). Secretary to the Government of… Read More


Tinubu Leaves Today To Participate In Paris Summit For Financial Pact

President Bola Tinubu is expected to leave Nigeria today to join world leaders in Paris, France, on Thursday, to review and sign a new global financial pact that places vulnerable countries on priority list for support and investment, following the devastating impact of climate change, energy crisis, and after effect of the COVID-19 pandemic… Read More



Data Breaches: Federal Government Threatens To Prosecute MDAs CEOs The National Commissioner for the Nigeria Data Protection Bureau, Dr Vincent Olatunji, has disclosed that the Commission will prosecute the Chief Executive Officer of any government agency found guilty of data breaches. He made this disclosure on Monday in Abuja at a press conference to shed more light on Nigeria Data Protection Law… Read More