Daily Business Headlines – November 21, 2022


Equities Investors Earn N285.4bn In 5 Days Amid Buying Interest

Trading activities at the Nigerian Exchange Limited (NGX), last week ended in the green for the key performance index which inched up 1.19 per cent week on week to 44,492.73 basis points. The positive week was due to renewed investors’ sentiment and positive buying interest in some value stocks that had suffered losses in recent time… Read More


Blame Games Over N500bn Expired Products At Ports

The Lagos State Consumer Protection Agency (LASCOPA) recently sealed a supermarket in Lagos, and warned residents to be wary of what they buy these Christmas period, warning that the market has been flooded with expired products. The General Manager of LASCOPA, Afolabi Solebo, who made the disclosure in a statement, stated that the move… Read More


Cadbury Introduces New Product

Cadbury Nigeria Plc has announced the introduction of new product, Cadbury Bournvita Biscuit, into the Nigerian market. A statement said Cadbury Nigeria, a subsidiary of Mondelez International made the announcement at the launch in Lagos. According to the company, Cadbury Bournvita is the newest addition to Cadbury’s growing portfolio as well as the… Read More


A Classic Strategy For Investors In Market Downturn

One of the most important quotes of Warren Buffett on investing is: “If you aren’t willing to own a stock for 10 years, don’t even think about owning it for 10 minutes.” Buffett never chose stocks just because he thought their prices were going to rise that week, that month, or even that year. His two rules of investing are: “Rule (1) Never lose money… Read More



$250m CBN Intervention Will Improve Electricity Transmission, Distribution-Stakeholders

Power stakeholders are expecting improvement in electricity transmission and distribution as they embark on projects funded by a $250 million intervention of the Central Bank of Nigeria (CBN). The fund meant to urgently fix existing dilapidated infrastructure in the area of electricity distribution and transmission would enable the Transmission Company of Nigeria… Read More

Buhari Flags Off Oil Exploration In Bauchi, Gombe Tomorrow

Barring any last minute change of plan, President Muhammadu Buhari will tomorrow flag off oil exploration activities in Bauchi and Gombe States. Specifically, the president will conduct the ground-breaking ceremony of the Kolmani Oil Prospecting Lease (OPL) 809 and 810 at the Kolmani field site located in Bauchi and Gombe states… Read More


Does This Data Confirm CBN Is To Blame For Increase In Currency Outside Banks?

Nigeria’s currency outside banks is a record N2.8 trillion as of October 2022, data from the central bank of Nigeria reveals. This is against the latest decision by the central bank to replace the N200, N500, and N1000 notes due to the rising spate of currency outside circulation. However, data from the apex bank shows the rising trend started in 2015… Read More



Attacks On INEC Facilities Threaten 2023 Polls

Violent attacks on the facilities of the Independent National Electoral Commission (INEC) as well as on political opponents are threatening the conduct of next year’s general elections, writes ONYEKACHI EZE. It was not the first time facilities of the Independent National Electoral Commission (INEC) were coming under attack. Between 2019 and 2021… Read More


Buhari Unveils NICA Bill to Strengthen Credit Administration in Nigeria

President Muhammadu Buhari will, tomorrow, in line with his administration’s policy of encouraging and promoting economic growth and diversity, unveil to the public the National Institute of Credit Administration (Establishment) Act No 1018 of 2022, which he signed into law on August 16, 2022 at Four Points by Sheraton Hotel, Victoria Island, Lagos State… Read More



Federal Government Tasks States on Adoption, Implementation Of Start-up Law To Deepen Digital Economy

Senior Special Assistant to the President on Digital Transformation and Nigeria Startup Act, Oswald Osaretin Guobadia, has urged adoption and implementation of the law by states. In a statement, he noted that adoption of the Act in each state would boost youth empowerment and develop the technology ecosystem. He said: “The youth are key players… Read More