Business News Roundup From March 18-March 24, 2023

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

Cash Scarcity: Operators Say Poultry Firms May Collapse Before June

The continued scarcity of the naira has crashed many poultry businesses and the industry may collapse before the incoming administration takes over the government by May ending if nothing is done to salvage the situation, operators in the sector warned on Monday.

According to the operators, over 80 per cent of eggs that were laid since the first week of February this year by about 76 million commercial layers (birds) were not sold due to the inability of consumers to make purchases with cash. Read more here

Cash Scarcity: Emefiele Assures Nigerians Of Smooth Online Transactions

The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has assured Nigerians of smooth online transactions.

Emefiele gave the assurance on Tuesday while addressing journalists at the end of the two-day meeting of the CBN's Monetary Policy Committee held in Abuja. Read more here.

Election: Governor Sanwo-Olu's Win Well Deserved — Insurance Brokers

The Nigerian Council of Registered Insurance Brokers (NCRIB) has congratulated Governor Babajide Sanwo-Olu on his re-election, describing it as well deserved.

According to a letter signed by the council’s President, Rotimi Edu and made available to the media in Lagos, the re-election of Sanwo-Olu did not come as a surprise. Read more here.

Find Urgent Solution To Naira Scarcity — Experts To CBN

Some financial experts have urged the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to take urgent steps to address the shortage of cash in the country.

The experts spoke to the News Agency of Nigeria (NAN) on Monday in Abuja, against the backdrop of the 290th meeting of the MPC. Read more here.

Dangote Cement To Pay N340 Billion Dividend

For the year ended December 31, 2022, Dangote Cement Plc has declared a total dividend of N340 billion to be paid to its shareholders.

The company said, once the shareholders at the annual general meeting (AGM) slated for April 13, 2023, approved the proposal, the shareholders whose names are registered in the company’s register of members at the close of business on March 30, 2023, will be immediately paid the sum of about N340 billion a day after the meeting. 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.