Daily Business Headlines – November 18, 2022


Equities Investors Lose N21.3bn As Bear Resurfaces At NGX

Bearish sentiments resurfaced in the local bourse on Thursday as investors took profits as the NGX All-Share Index (ASI) fell by 0.09 per cent to settle at 44,011.22 basis points. At the Nigerian Exchange Limited, on Thursday, the market’s weak performance was primarily driven by selloffs in Tier-1 banks, Zenith Bank, Guaranty Trust Holding Company… Read More


Banks alter business hours to beat deadline for old currency notes

Amid plans by the Central Bank of Nigeria (CBN) to mop up old Naira notes from circulation, Nigeria’s 33 Deposit Money Banks (DMBs) are adjusting their operating hours to assist Nigerians holding on to soon-to-expire Naira notes deposit them. This was even as bank customers appealed to CBN to extend the deadline. Amid plans by the Central Bank of Nigeria… Read More


Amid Controversy, Nigerian Airlines Explain Position on National Carrier

Eight domestic airlines under the aegis of Airline Operators of Nigeria (AON), have explained why they had to go to court to stop the federal government’s choice of Ethiopian airline and to seek full implementation of a new national carrier. In an interview with the ARISE News Channel, the CEO of Top Brass Aviation Limited and former Managing Director… Read More


Coca-Cola Foundation Partners Leading Ladies Africa To Empower Entrepreneurs

The Coca-Cola Foundation has awarded a grant to Leading Ladies Africa, a women-focused non-profit to train, fund, and upskill 1000 women, through its Enterprise and Leadership Program (ELP), as part of efforts to empower female entrepreneurs in Nigeria. The Enterprise and Leadership Program (ELP) is a practical, hands-on program that enables women… Read More



Debt Management Office to Federal Government: Prioritise Revenue Generation NOT Increasing Borrowings

The Debt Management Office (DMO) says there is an urgent need for the federal government to moderate the rising trend of borrowings to ensure debt sustainability. Patience Oniha, director-general of DMO, said this on Thursday in Abuja at a workshop for legislators. The workshop was organised for members of the senate committee on local and foreign debts… Read More


133 Million Nigerians Poor In Health, Education, Others – National Bureau of Statistics

The National Bureau of Statistics (NBS) has said 133 million people in Africa’s biggest economy are poor in health, education and two other dimensions. The NBS said this in the Multidimensional Poverty Index (MPI) report launched on Thursday. The other dimensions are living standards and work and shocks. It said of the total 133 million, 86 million affected persons… Read More


Federal Government Says Debt Sustainability Now Threatened by Low Revenue

The Federal Government, FG, has indicated that Nigeria’s debt sustainability has now come under serious threat following the recent rise in its revenue shortfalls. Making this disclosure yesterday at a workshop for members of the Senate Committee on Local and Foreign Debts and House Committee on Aids, Loans and Debt Management in Abuja, the Director… Read More



Buhari Sacks NYSC DG

The President, Major General Muhammadu Buhari (retd.), has reportedly sacked the Director-General of the National Youth Service Corps, Brigadier-General Mohammed Fadah. When contacted, the NYSC spokesman, Eddy Megwa, simply asked our correspondent to wait for an official statement that would be issued on Friday… Read More


‘All claims will be addressed’ — INEC reacts to outrage over irregularities in voters’ register

The Independent National Electoral Commission (INEC) has reacted to the criticism trailing the irregularities in the preliminary voters’ register. On Saturday, the commission published the preliminary register of voters’ for the 2023 elections across LGAs and on its website. Since the release of the voter register, some Nigerians have taken to social media… Read More



Paystack Secures PSP License In Kenya

Paystack, the Nigerian-born fintech company acquired by Stripe, has secured a payment service provider license from the Central Bank of Kenya (CBK), enabling it to facilitate payments and optimise merchant experience for Kenyan businesses. This development follows the company’s expansion into Kenya and its private beta product launch… Read More