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Daily Business News Brief- November 23rd, 2022


Stock Market Maintains Positive Trend, Up N145bn – Thisday
For the third consecutive session, the stock market of the Nigerian Exchange Limited (NGX) yesterday maintained its bull run, as the market capitalisation gained N145bn.  Meanwhile, at the end of yesterday’s Monetary Policy Committee (MPC) meeting, members voted to increase MPR by 100basis points to 16.50 per cent.……..Read More

Black market exchange rate gains further to N775/$1 on 22nd November 2022 – Nairametrics
The exchange rate between the naira and the US dollar appreciated at the black market on Tuesday, 22nd November 2022 to close at N775/$1. The exchange appreciated by 0.64% when compared to N780/$1 in the previous day’s trading activities.  This is according to information from black market traders who spoke to Nairametrics.……….Read More

Currency Outside Banks Increased by N108.67bn to N2.84trn in October – Thisday
As the Central Bank of Nigeria (CBN) steps up effort to redesign N200, N500, and N1,000 notes currently in circulation, currency outside the banks added N108.67billion to N2.84 trillion in October 2022 from N2.73 trillion in September, the CBN money and credit statistics has revealed. According to the CBN data, currency outside the banks appreciated by 11.07 per cent Year-on-Year (YoY) from N2.54 trillion reported in corresponding period of 2021………….Read More

CBN to reduce the volume of N500, N1000 in circulation to curb inflation – Nairametrics
Nigeria’s central bank governor, Godwin Emefiele has announced the apex bank is planning to reduce the volume of N500 and N1000 notes in circulation “over time”.  The governor made this known in his briefing to the media at the monetary policy communique held on November 22nd, 2022……………Read More

New naira notes for circulation before Dec 15 – Punch
The Governor of the Central Bank of Nigeria, Godwin Emefiele, has announced that the President, Major General Muhammadu Buhari, will unveil the new naira notes during the weekly Federal Executive Council at the Presidential Villa on Wednesday.  He also said the new notes would go into circulation before the December 15, 2022 date earlier stated by the central bank.  He made the announcement during a press briefing held after the Monetary Police Committee meeting in Abuja…………….Read More
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