Daily Business Headlines – November 23, 2022


Investors Gain N145 Billion As Equity Market Sustains Positive Sentiment

Trading activities on the floor of the Nigerian Exchange (NGX) closed the day with a gain of N145 billion in market capitalization, as bulls maintained their grip on the local bourse. The All Share Index (ASI) increased by 0.59% to close at 44,929.33 points.  In the same vein, market capitalization appreciated by N145 billion… Read More


Cryptos: IMF Calls For Better Regulations In Nigeria, Others

The International Monetary Fund (IMF) has said the growing crypto market in Nigeria and other Africa countries needs better regulations. “The collapse of the world’s third largest crypto exchange FTX, and subsequent plunge in the prices of Bitcoin, Ethereum, and other major crypto assets, is prompting renewed calls… Read More


Edo Seeks $10b Investment To Boost Electricity Supply

The Edo State government has projected to attract an additional $10 billion in domestic and foreign investment for improved power supply in the state. The state has already attracted $2 billion in investment, mostly in the agricultural sector, expected to create many multiplier effects, including enhancing food production, supplying raw materials to industries, and creating additional employment opportunities… Read More


Country Risk Index: Nigeria Ranks 4th In West, Central Africa

Nigeria’s country risk of 46.6 ranks it fourth among five top West and Central African countries, Fitch Solutions latest Risk Index Table shows. According to the data, Ghana’s country risk of 53.1 ranks it as the best among the five countries, with Gabon coming 2nd in the country risk Index with a score of 49.0 per cent… Read More



CBN Raises Rate To 16.5%, Unveils New Naira Notes

The Central Bank of Nigeria (CBN) raised the Monetary Policy Rate (MPR), the benchmark interest rate, by 100 basis points on Tuesday to 16.5 percent to fight inflation. The fourth straight rate hike this year was announced after the two-day meeting of the Monetary Policy Committee (MPC) in Abuja… Read More


‘Afcfta Agreement Alone Cannot Guarantee African Industrialisation’

As Nigeria and other African countries commemorate this year’s industrialisation day, stakeholders within the continent have emphasised the need for an improved business and investment environment, as well as the need to put African priorities at the centre of international negotiations if the continent… Read More


CBN Responds To Flooding With Release Of Strategic Grains Reserves

The Central Bank of Nigeria (CBN) said it would release some strategic grain reserves to combat the adverse effects of the flooding across the country and checkmate food inflation. The CBN Governor Godwin Emefiele stated this during the 288th meeting of the Monetary Policy Committee (MPC) held in Abuja yesterday… Read More



Federal Government Urges Stronger Partnership With Canada To Boost Collective Goals In Trade

The Federal Government said Nigeria needs to work closely with Canada to achieve collective goals on improving trade, deepening ongoing educational collaboration and many others. This was disclosed in a statement by Vice President Yemi Osinbajo on his official state visit to Canada. This Comes as the Federal Government… Read More

Federal Government says Nigerians with expired passports can return

The Nigerian Immigration Service has revealed that Nigerians with expired Nigerian passports can still return to Nigeria during the holidays as Nigerians don’t need a visa to enter Nigeria. This was disclosed by Mr. Tony Akuneme, the NIS public relations officer, in an interview with the News Agency of Nigeria (NAN)… Read More



4th Industrial Revolution: Teachers Get Empowered On Digital Literacy A number of secondary school teachers across the country recently got the opportunity to better equip their students for the 4th industrial revolution, as they benefitted from the critical digital training made possible with the collaboration of the National Senior Secondary School Education Commission, NSSEC, and Coderina… Read More