Daily Business Headlines – March 23, 2023


Stock Market Records Positive Outing, Gains N17bn

The Nigerian stock market yesterday closed on a positive note as the capitalisation rose by N17 billion, following buy interest in Guaranty Trust Holding Company (GTCO) and eight others. The All-Share Index (ASI) rose by 31.43 absolute points, representing a gain of 0.06 per cent to close at 54,936.11 points. Also, investors gained N17 billion… Read More

Central Bank of Nigeria Disburses N1.09trn Anchor Borrowers’ Loans In 2 Months

The Central Bank of Nigeria (CBN) says it disbursed N12.65 billion to farmers under its anchor borrowers’ programme (ABP) in the first two months of 2023. Godwin Emefiele, the CBN governor, made this known on Tuesday in Abuja while reading the communiqué issued at the end of the 290th meeting of the apex bank’s monetary policy… Read More


Inflation Pushes Pension Funds’ Investment In FG Bonds To N9.6trn

The sustained rise in inflation and interest rate has triggered significant rise in pension funds’ investments in Federal Government securities to N9.6 trillion in 2022, about 9.9 percent higher than N8.7 trillion recorded in 2021. Analysts said the rise will continue in 2023 given the continued rise in both inflation and interest rate… Read More  


E-Payment Failure Mounts Pressure On Bank’s Tech Facilities

As the naira scarcity continues to exacerbate the economic woes of Nigerians, EDIDIONG IKPOTO examines why deposit money banks must improve their technology facilities to tackle the challenges of the Central Bank of Nigeria’s cashless policy. On Friday, March 17, 2023, a large crowd of commuters gathered at the forecourt of the Mobil… Read More



CBN ‘Releases’ Mopped Up Old Notes To Banks Today

The Central Bank of Nigeria (CBN) has instructed commercial banks to immediately collect the old naira notes they deposited in its branches to ease the cash crunch across the country. Recall that the apex bank had mopped up the old N1, 000, N500 and N200 notes in response to the introduction of new ones as part of the cashless policy… Read More


Federal Government, States, Local Governments Share N723bn

The Federation Account Allocation Committee says it shared N722.677bn among the three tiers of government for February 2023. The figure represents a further decrease of N27.493bn compared to N750.17bn shared in January. FAAC disclosed this in a communiqué issued at the end of its latest meeting in Abuja on Wednesday… Read More


Petrol Price Increased By 54.76% Per Litre In One Year – Nbsagain, Foreign Airlines Rally FG On Repatriation Of $743 Million Stuck Fund

Foreign airlines have, for the umpteenth time, appealed to the Federal Government to release and assist in the repatriation of trapped funds in excess of $743 million. The airlines, under the aegis of the International Air Transport Association (IATA), regretted that earlier entreaties to the House of Representatives, Ministry of Aviation and the… Read More



Elections: Visually-impaired Persons Were Marginalised, Says LAWN

One of the observers of elections in Kaduna State and Non Governmental Organization, (NGO) Legal Awareness for Nigerian Women (LANW) with support from Christian Aid said, that the Independent National Electoral Commission (INEC) marginalized the virtually impaired Persons through the non provision of disability inclusive voting… Read More


‘Go To Court’

“Go to Court”, three words sentence, advisory as it innocuously appears or if you like a command usually given by rogue politicians to their victims of rigging, and generally majority of politicians in Nigeria are rogues sums up the substance of politics in Nigeria. What is politics and what is the end which politics seeks to achieve in Nigeria… Read More



SVB: Expert Insists On Establishment National Tech-Innovation Startup Investment Fund For Nigeria Former President, Institute of Software Practitioners of Nigeria (ISPON) and Chief Executive Officer of Mobile Software Solutions, Chris Uwaje, has re-echoed the need for the establishment of a National Tech-Innovation Startup Investment Fund as a strategic imperative and panacea for accelerated and sustainable tech-innovation… Read More