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Daily Business News Brief – November 24th, 2022


Excess Crude Account falls by 89% to $472,513 – Punch
Nigeria’s excess crude account has declined by 89 per cent in the last eight years, moving from $4.1bn in November 2014 to $472,513 in the same period of 2022.According to a statement by the Ministry of Finance, Budget and National Planning, which was seen by The PUNCH on Wednesday, the ECA’s balance as at November 23, 2022, stood at $472,513.64.……..Read More

New naira: CBN, EFCC to track large withdrawals – Punch
The Governor of the Central Bank of Nigeria, Godwin Emefiele has said that it would work with law enforcement agencies like the Economic and Financial Crimes Commission and the Independent Corrupt Practices and Other Related Offences Commission, to complicate and track large withdrawals.He said this while briefing the press after the launch the new Naira banknotes in Abuja on Wednesday.At the briefing, Emefiele said that the amount of money that can be withdrawn from the counter would be reduced drastically, adding that bulk withdrawals would require several procedures and security checks to track use.……….Read More

SAHCO Acquires Additional GSE To Boost Operatio – Independent
LAGOS  – Skyway Aviation Handling Company (SAHCO) Plc has acquired additional state-of-the-art Ground Support Equipment (GSE) to further boost its services to its clients. The ground handling company took delivery of universal loaders, tractors, container dollies, canopied passenger steps, conveyor belt loaders and air starter units to increase its operations………….Read More
AfDB Invests $20m In Private Equity Fund Targeting Renewable Energy Projects In Sub- Saharan Africa – Independent
The Board of Directors of the African Development Bank Group has approved an equity investment of $20 million in Evolution Fund III, a pan-African clean and sustainable energy private equity fund that is mobilising about $400 million into renewable energy and resource-efficiency assets across sub-Saharan Africa over a 10-year period……………Read More

NGX identifies limited climate finance as hinderance to mitigation, adaption actions – Nairametrics
The Chief Executive Officer of Nigerian Exchange Limited (NGX), Mr Temi Popoola, said that the limited flow of climate finance remains a major hindrance to the implementation of mitigation and adaptation actions in Nigeria and Africa as a whole. Popoola stated this during the ‘Green and Sustainability Bond’ workshop held in Lagos today…………….Read More
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