Daily Business Headlines – MAY 04 2023


Bearish Trading Continues As Investors Lose N49bn

Following losses suffered by many bluechip stocks, especially Nigerian Breweries (NB) and MTN Nigeria (MTNN), negative sentiments persisted on the equities sector of the Nigerian Exchange Limited (NGX) yesterday, as market capitalisation depreciated further by N49 billion. The All-Share Index (ASI) fell by 88.71 points, representing a decline of… Read More


CBN To Issue Guidelines On Contactless Payment

The Central Bank of Nigeria (CBN) is about to introduce a new cashless payment system in Nigeria. Known as contactless payment system, the CBN will issue the guidelines for the operation of the cashless innovation in a few months time. Deputy Director, Payment System Management Department of the CBN, Mr Adeyemi Adefuye, made this… Read More


Federal Government To Build Another Seaport In 2026 – NPA

The Federal Government is planning to set up another deep seaport in the next three to four years, the Nigerian Ports Authority has disclosed. The Managing Director of NPA, Muhammad Bello-Koko, said in an interview with Nigerian Ports Today, a quarterly publication of the agency, sighted by our correspondent. Giving an update… Read More


Buhari Launches Nigeria Agenda 2050

He inaugurated NA 2050, yesterday, in Abuja, before the commencement of Federal Executive Council (FEC) meeting. NA 2050 is aimed at ensuring Nigeria attains a GDP per capita of $33,328 per annum, placing the country among the top middle-income economies in the world by 2050. GDP per capita is a measure of a country’s total… Read More



Federal Executive Council  Okays National Blockchain Policy

The Federal Executive Council (FEC) has approved National Blockchain Policy for Nigeria, institutionalising the blockchain technology in the country. The Minister of Communications and Digital. The Federal Executive Council (FEC) has approved National Blockchain Policy for Nigeria, institutionalising the blockchain technology in the country… Read More

Federal Executive Council Approves N16.7bn Roads Repairs Refund For Borno

The Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Laolu Akande, announced this Wednesday while briefing State House reporters on the presidential memorandum approved during the federal cabinet meeting presided over by President Muhammadu Buhari at the State House, Abuja. Akande… Read More


Senate Approves Buhari’s 22.7trn ‘Ways And Means’ Loan Request

After much ado, the Senate finally approved the request by President Muhammadu Buhari to restructure the N22.7 trillion loans the Central Bank of Nigeria, CBN, extended to the federal government under its Ways and Means provision. The Ways and Means provision allows the government to borrow from the apex bank if it needs short-term or… Read More



I Won’t Marginalise Any Part Of Nigeria, Tinubu Pledges

President-elect Bola Ahmed Tinubu yesterday gave a hint about what will be his style of governance after his inauguration on May 29. He ruled out the marginalisation of any zone, assuring that he would work with every component unit for public good.Tinubu spoke in Port Harcourt, the Rivers State capital, where he inaugurated the Rumuokwuta… Read More


Controversial Adawama REC Detained, Insists Binani Won Poll

The police, on Tuesday, began grilling the suspended Adamawa State Resident Electoral Commissioner, Hudu Yunusa-Ari, at the Force Headquarters in Abuja, over alleged impropriety during the April 15 supplementary governorship poll in Adamawa State.The Force Public Relations Officer, Olumuyiwa Adejobi, confirmed to our… Read More



Lagos, Ogun, Kano Top As Internet Subscribers Hit 154m

The National Bureau of Statistics (NBS) has stated that Nigeria’s active internet subscribers has grown to 154 million in the fourth quarter of 2022. The NBS in a report stated that growth was 9.07 per cent from the 141.9m subscribers in Q4 2021. The report added that MTN had the highest subscribers with 65m users followed by Glo with 45m and… Read More