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Daily Business News Brief | Monday, April  5th, 2022.


Stock Market Depreciates by N83bn on Investors’ Profit-taking – Thisday

The Nigerian Exchange Limited (NGX) stock market, yesterday witnessed profit-taking as the market capitalisation declined by N83 billion to commence first-day trading activities on weak sentiment by investors. . ………………read more

NIN-SIM: 72 million subscribers barred from making calls, FG knocked – Punch

Over 72.77 million active telecommunication subscribers have been barred from making calls on their SIMs, following a directive from the Federal Government to telecommunication companies.

On Monday, the Federal Government ordered telecommunications companies to enforce compliance with its National Identification Number-Subscriber Identity Module policy by restricting outgoing calls on all unlinked lines as the deadline for the verification expired on March 31……………. read more

Multimillion naira gunboat sinks in Lagos, NIMASA denies responsibility – Thisday

The Nigerian Maritime Administration and Safety Agency has denied responsibility for a gunboat that reportedly sank in Lagos on Sunday. The NIMASA/Barugu, a gunboat reportedly in the fleet of Global West Vessels Specialists, was alleged to have been parked at the Kirikiri Terminal, behind the NIMASA Resource Centre. In a video circulating online, seafarers onboard the adjoining vessels blamed NIMASA for negligence, they had reported the impending disaster to NIMASA for a long time…………………read more

CBN imposes heavy sanctions on banks over mutilated notes – Vanguard

The Central Bank of Nigeria has expressed concern over the increasing amount of mutilated banknotes deposited with the apex bank by Deposit Money Banks. To this end, the CBN has warned banks to stop including composed currency notes in their deposits or risk paying a penalty of 400 per cent of the value of the banknote. Composed banknotes are mutilated currency notes that comprise several parts of different banknotes of the same denomination………………….read more

Food imports exceed exports by N2.23tn in 12 months -Daily Independent

The total international trade in agricultural goods in the country stood at N3.24tn in 2021, with the import value exceeding export value by N2.23tn, findings have revealed.  Despite interventions by the Federal Government to diversify the economy and increase food production in the country, security concerns have driven a lot of farmers out of their livelihood.  Figures obtained from the National Bureau of Statistics revealed that while Nigerian farmers exported goods worth N127.2bn in the first quarter of 2021, the country imported N630.2bn goods…………………….read more

fake richard mille
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