Latest Business/Finance News For Thursday, 16 December, 2021

Good day, Nigeria, welcome to Ezenwoko's Blog roundup of business/finance news headlines for today Thursday, December 16th, 2021.

The annual inflation rate has dropped for the seventh consecutive month, the National Bureau of Statistics (NBS) has announced.

Ezenwoko's Blog reports that the Bureau made this known in its Consumer Price Index report for November 2021 released on Wednesday in Abuja.

The NBS stated that the inflation rate dropped from 15.99 percent in October to 15.4 percent in November.

According to the agency, the drop represents a 2.77 percentage point decline since March when the inflation rate peaked at 18.17 percent.

The CEO of Forward Edge Consulting Ltd, Moyosore Kukoyi has stressed the need for Nigerians to acquire Financial Knowledge in order to make smart investment decisions.

Mr Kukoyi who is a Public Speaker, Investor, Investment Coach, Real Estate Professional and a Digital Marketing Strategist is currently running a campaign to educate people on the importance of financial knowledge.

He was recently at Kigali Rwanda and Istanbul Turkey as a Guest Speaker in a Women Leadership and National Development Conference organized by the Federal Ministry of Women Affairs to deliver lectures on “Tips to Build Generational Wealth”.

According to him “Every human desire to have financial freedom, but what separates those who eventually gain it from those who do not is how they go about it”

Nigerian stocks returned to gain on Wednesday as the benchmark index jumped rose per cent even though that was too paltry in obliterating the loss of the session before.

GTCO, Nigeria's biggest lender by market value, steered the climb alongside beer-maker Nigerian Breweries, with support from FBN Holdings and Dangote Sugar.

A positive market breadth was reported, showing 19 gainers against 13 laggards at the end of trade.

Nigeria yesterday emerged the overall best country at the Open Government Partnership (OGP) global awards taking place in Seoul, South Korea, for its recent reforms in the oil and gas industry.

Nigeria beat other countries in Africa and the Middle East that are implementing the OGP at the opening ceremony of the summit of member countries, for setting up a Beneficial Ownership (BO) registry to end anonymous companies in the country.

A statement by the Deputy Director/Head Communications & Advocacy of the Nigeria Extractive Industries Transparency Initiative (NEITI), Obiageli Onuorah, said the initiative led in terms of the implementation of beneficial ownership disclosures.

According to NEITI, the move was supported by the Nigerian National Petroleum Company (NNPC) Ltd., the defunct Department of Petroleum Resources (DPR), the Corporate Affairs Commission (CAC) and the Nigerian civil society representatives.

The Federal Executive Council (FEC) on Wednesday approved Nigeria Start-Up Bill, that promises a lot of assistance to Nigerian startups and innovators.

Minister of Communications and Digital economy, Isa Pantami announced this at the end of the council meeting.

He said the bill will be transmitted to the National Assembly for processing.

According to him, the bill intends to encourage young entrepreneurs in the country that have skills and want to do business in the telecommunications and digital sector.