Daily Business Headlines – OCTOBER 10, 2023


BUA Cement, Nigerian Breweries, Others Cause Market To Open Week In Green

Nigeria’s equities market opened this week on a positive note, rising by 0.97 percent on Monday as buy-side activities improved on the Bourse. Investors were seen buying stocks like BUA Cement, Nigerian Breweries, and others moved the market higher. Stock investors gained N355billion at the close of trading, while the market’s year-to-date… Read More

Federal Government To Compel Airlines To Pay Compensation For Delayed, Cancelled Flights

The Federal Government has said that it will soon issue an order, compelling airline operators to commence payment of compensation to passengers for delayed and cancelled flights not attributed to natural occurrences. Festus Keyamo, Aviation and Aerospace Development said this during a meeting with airline operators in Abuja on… Read More


Federal Government to Credit Bank Accounts of 15 million Households October 17

The federal government has said it would begin cash transfers to 15 million households in Nigeria from Tuesday, October 17, 2023. The Minister of Humanitarian Affairs and Poverty Alleviation, Mrs Betta Edu, made this disclosure while speaking on Channels Television’s Sunday Politics. Mrs Edu said the policy would be launched after approval… Read More


Cancel Free Flights Of Foreign Airlines Into Nigeria, AON Tells Aviation Minister

Airline Operators of Nigeria (AON) has urged the Federal Government to carry out sweeping reforms in the aviation sector including the cancellation of eight and ninth ‘freedom of free’ flights by foreign airlines into Nigeria among others. During a meeting with the Minister of Aviation and Aerospace Development, Festus Keyamo, the AON made a… Read More



Four Consortia To Fix Dilapidated Pipelines – NNPCL

The Nigerian National Petroleum Company Limited, on Monday, said four consortia would finance the rehabilitation of pipelines across the country based on build, operate and transfer terms. Marketers have repeatedly complained about the dormancy of about 20 NNPCL depots, as they explained that this was due to the vandalism of pipelines that… Read More


CBN Insists eNaira Is No Threat To Financial Stability

The Central Bank of Nigeria (CBN) has insisted that the adoption of the eNaira is not and never a threat to financial stability in the country. The apex bank said contrary insinuations that the adoption of the eNaira portends danger to financial inclusion; it explained that the country’s Central Bank Digital Currency (CBDC), the eNaira, indeed not only… Read More


Investment: Delta Creates Database For Diaspora Citizens

Delta State Government has announced the creation of a database of it’s Diaspora citizens as part of measures to attract investments to the state. Executive Assistant to Governor Sheriff Oborevwori on External Relations and Diaspora Affairs, Dr. Sunny Ofehe, made this known during a live television programme. Ofehe who affirmed the… Read More



European Union Report On 2023 Polls Inaccurate, Says Wike

European Union (EU), yesterday, came under fire over its report on the 2023 Nigerian presidential elections. The reprimand came from the Minister of the Federal Capital Territory (FCT), Nyesom Wike, who described it as false and inaccurate. He said the report did not give the true position of the last elections in the country, but created a wrong… Read More


Ambassadors’ Recall: Envoys Stranded As Federal Government Foot-Drags On Implementation

Five weeks after President Bola Tinubu recalled ambassadors and 21 days before the October 31 deadline for their return, the Federal Government appears to have backtracked on the policy, fueling speculations that the government may have given them a months extension. On September 2, President Tinubu recalled all of Nigeria’s… Read More



Minister Seeks Banks’ Understanding In Resolving N120b USSD Debts Impasse

The Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, has sought the understanding of Deposit Money Banks (DMBs) in resolving the N120 billion Unstructured Supplementary Service Data (USSD) debt impasse. Tijani stated this when telecommunications operators paid him a visit in Abuja at the weekend. The… Read More