Business News Roundup From April 29 - May 5, 2023

Welcome to the AllNews roundup of the 5 Latest Business News that made the round last week.

We Have No Plan To Phase Out New Naira Notes, Says CBN

Contrary to the news making the round on the media space, the Central Bank of Nigeria (CBN) has assured Nigerians that the new naira notes will continue to be accepted as legal tender ahead of the December 31, 2023, deadline when the old N1000, N500 and N200 banknotes will be phased out.

CBN's update is in reaction to reports circulating in the media, particularly in the social media space, that the new notes will be phased out. Read more here.

Dangote Calls For Improved Free Trade In Africa

Aliko Dangote

Aliko Dangote, the President of the Dangote Group, has urged African countries to dismantle all economic barriers hindering free trade among the nations, to enhance sustainable growth and development across the continent.

According to a statemet, Dangote who was represented by the Group Executive Director/Group Chief Risk Officer, Dangote Industries Limited, Dr Adenike Fajemirokun, said this while speaking in Lagos at the launch of a special publication ‘The world ahead 2023’ by The Economist magazine’. Read more here.

Reactions As NAFDAC Bans Indomie Noodles

The National Agency for Food and Drugs Administration and Control (NAFDAC) has reiterated that the importation of Indomie noodles is banned in Nigeria.

Director-General of NAFDAC, Prof. Mojisola Adeyeye, made this known in a statement on Monday, saying the product is one of the foods on the government prohibition list. Read more here.

Ethanol Company Installs Treatment Plant In Benue

As a way of preventing the reoccurrence of wastewater contamination in the Benue River, Pure Biotech Company, an ethanol-producing company, has installed a state-of-the-art Effluent Treatment Plant (ETP).

The Manager, Corporate Communications and Public Relations of the company, Stephen Numbeve made this known during an interview with the News Agency of Nigeria (NAN) on Tuesday. Read more here.

Print, Circulate More New Naira Notes — Economists To CBN

Some economic experts have called on the Central Bank of Nigeria (CBN) to print and circulate more new naira notes before the December 31 deadline for the withdrawal of the old notes.

The experts said this while speaking with the News Agency of Nigeria (NAN) in separate interviews on Wednesday. Read more here.

These are the latest Business news that made trends during the week. Visit our website https://allnews.ng for more Business news around the world.