Prime Business Africa

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Naira vs Dollar: What To Expect This Week (24th-30th, March 2025)

Dollar Appreciates Against Naira In Black Market, Trades At N1,454/$

February 2, 2026

The black market recorded a N17.99 kobo increase in the foreign exchange (FX) rate of the United States dollar (USD) on Monday, February 2. During trading, the American greenback exchanged for N1,454.99 kobo per dollar, above the N1,437 per $1

Bulls Charge Ahead As NGX Shatters Records As Market Cap Surpasses N50trn

Business·Top Stories

NGX Records Sluggish Growth As Market Cap Rises By N9.12bn

February 2, 2026

by Prime Business Africa

Trading was sluggish in the Nigerian Exchange (NGX) on Monday, February 2, as the all-share index (ASI) expanded slightly by 14.23 basis points. The ASI closed at 165,384.63 index, up from the 165,370.4 ASI reported on Friday, January 30. Consequently,

Business

Femi Otedola Issues New Statement After Reports Of Transcorp Plc Acquisition

Business·Top Stories

Femi Otedola’s Investment In First HoldCo Now N362.48bn

February 2, 2026

Femi Otedola, the chairman of First HoldCo, has increased his stake in the financial institution by 6.32 percent, from 11.8 percent held at the

Business·Top Stories·World News

Shenzhen Gold Trading Platform Jieworui Faces Redemption Crisis, Government Task Force Steps In

February 1, 2026

A Shenzhen-based gold trading platform, operated by Shenzhen Jiewo Rui Jewelry Co., Ltd., has come under official scrutiny after reports emerged of widespread redemption

FBN Holding Appoints Otedola As Chairman Days After Return To Forbes African Billionaires

Business·News·Top Stories

First HoldCo Absorbs ₦748bn Loan Losses, Says Balance Sheet Now Stronger for Recapitalisation Drive

January 31, 2026

First Bank Holding Company (First HoldCo) has said its decision to recognise ₦748 billion in legacy bad loans in one sweep has placed the

Gold remains too hot to chase, too hot to short

Business·Top Stories·World News

Gold, Silver Suffer Historic Losses as Fed Policy Shift Jolts Markets

January 30, 2026

Global precious metals markets were thrown into turmoil on Friday as gold prices fell by about 12 per cent while silver plunged as much

CBN Insists On June 3 Recapitalisation Deadline For BDCs

Business·Top Stories

Dollar Rate Drops To N1,437/$ In Black Market, Rises To N1,391/$ In Official Market

January 30, 2026

The United States dollar (USD) traded at N1,437 per $1 in the black market on Friday, January 30, compared to the N1,478 per dollar

Politics

Odinaku Criticises Prof Bako's Inaugural Lecture On Igbos In History Of Intergroup Relations In Kano

Opinion·Politics·Top Stories

In the House of ‘My Lord’, There are Judgments – Odinkalu

February 1, 2026

By Chidi Anselm Odinkalu Abdul Leigh Balogun became a judge of the High Court of Lagos State in 1976. In a career as a trial judge spanning 17 years and three different decades, the man better known as A.L.A.L Balogun earned a deserved reputation as one of the most knowledgeable trial judges to adorn the Nigerian judiciary. His reputation for

Insights·Opinion·Politics·Top Stories

Reno, Sowore, and the Spirit of the Tinubu Era

January 31, 2026

By Valentine Obienyem Barr. Reno Omokri has become one of the most

Opinion·Politics

What manner of pastor is Yinka Yusuf?

January 30, 2026

By ETIM ETIM The founder of Lagos-based Household of Love Church,

Africa·FEATURES·Politics·Top Stories

Kenya 2027: What One Tweet Reveals About Ruto’s Poll Victory

January 30, 2026

In the sunlit streets of Kondele, Kisumu, President William Ruto addressed a

News·Nigeria·Politics·Security·Top Stories

Nollywood Actor Amandi Arrested Over Alleged Coup Plot Against Tinubu

January 30, 2026

Nollywood actor and filmmaker Stanley “Stan K.” Amandi has been reported to

Entertainment

Emmys 2025: ‘Adolescence’ Win Big, Full Winners List

September 15, 2025

The 2025 Emmy Awards were handed out Sunday, with Adolescence, The Studio, The Pitt, and The

Entertainment

How To Vote For AFRIMA 2025

September 9, 2025

The countdown to AFRIMA 2025 has officially begun as the All Africa Music Awards announced that

Entertainment

Full AFRIMA 2025 Nominations List: Davido, Burna Boy Lead List

September 5, 2025

The wait is over! The African Music Awards (AFRIMA) 2025 nominees list has been officially released,

Entertainment

AFRIMA 2025 Nominees List Unveiled: Voting Details, Top Contenders

September 5, 2025

The African Music Awards (AFRIMA) 2025 nominees list is finally here, music fans across the continent

Entertainment

Court Orders Mohbad’s Wife To Run DNA On Their Son

September 4, 2025

A Lagos State Magistrate Court sitting in Ikorodu, on Tuesday, September 2, 2025, ordered a DNA

Technology

Telecom Tariff Hikes: The Business Struggle For SMEs In Nigeria

News·Nigeria·Technology·Top Stories

NCC Data Exposes Telecom Performances in Nigeria

January 30, 2026

New data from the Nigerian Communications Commission (NCC) has revealed stark differences in the performance of telecom networks across the country. The data highlighted

FEATURES·Technology·Top Stories

Will a Senate Probe Save Nigeria’s Dying Railway?

January 29, 2026

For years, Nigeria’s railways were meant to offer something the country desperately needed: a safe, fast way to move people and goods across a

News·Nigeria·Technology·Top Stories

Terra Industries Raises $11.75 Million to Build Africa’s First Homegrown Defence Tech Prime

January 13, 2026

Terra Industries, a Nigerian-founded defence technology startup, has raised $11.75 million in seed funding as it steps out of stealth and positions itself to

Business·News·Technology

Malaysia, Indonesia Block Grok Over Sexual Deepfake Images

January 13, 2026

Malaysia and Indonesia have blocked access to Grok, an artificial intelligence chatbot linked to Elon Musk’s platform X, citing concerns over the creation of

News·Nigeria·Technology·Top Stories

Tech Innovator Hanu Expands Inclusion with AI Smart Glasses for Hearing-Impaired Nigerians

January 10, 2026

Nigerian-born tech innovator, Hanu Fejiro Agbodjie, has donated AI-powered smart glasses to hearing-impaired Nigerians, reinforcing his commitment to using technology to promote social inclusion

Sport

Opinion·Sports·Top Stories

Giants Real Madrid Becoming Teeters

February 2, 2026

Ordinarily, there ought to be no big deal about Real Madrid or a strong reason to single them out of the hundreds of football teams in Europe. But lately, their uneasy dance towards weak displays, and their constant shift away from their natural, coordinated, and relentless dominance have now more clearly shown why they have had four managers in five

News·Sports·Top Stories

CAF Sanctions Senegal, Morocco Over Chaotic AFCON 2025 Final

January 29, 2026

The Confederation of African Football (CAF) has imposed heavy sanctions on the

News·Sports·Top Stories·World News

Ex-Fifa President Backs US World Cup Boycott Over Security Concerns

January 27, 2026

Former Fifa president Sepp Blatter has urged football fans to reconsider travelling

FEATURES·Opinion·Sports·Top Stories

AFCON FINAL: How Referee Chaos, Officiating Outrage Tainted Senegal’s Win

January 19, 2026

After a spectacle of 52 games, and a record-breaking number of goals

News·Sports·Top Stories

Senegal Win Africa Cup of Nations After Extra-Time Thriller Against Morocco

January 19, 2026

Senegal claimed their second Africa Cup of Nations (AFCON) title with a

Markets

Markets·News·Top Stories·World News

Trump Threatens 100% Tariffs on Canadian Goods Over China Trade Deal

January 25, 2026

U.S. President Donald Trump has threatened to impose 100 per cent tariffs on all Canadian goods entering the United States, sharply escalating trade tensions

Business·Finance & Economy·Markets·News·Nigeria

Nigeria Tightens Rules for Courier Companies Using Prepaid Imports

January 13, 2026

Nigeria’s customs authority has introduced new rules for courier companies that handle imported goods under a system where duties are paid before delivery, Prime

Business·Markets·Power·Top Stories

Behind the Geregu Power Sale: Politics and a $750m Deal

January 11, 2026

The sale of Geregu Power, one of Nigeria’s largest electricity plants, has drawn attention after politically connected figures assumed top positions. Billionaire Femi Otedola

Recapitalisation: UBA Extends Deadline For Rights Issue

Business·Markets·News

UBA Hits Billion-Naira Milestone: Rights Issue Success Pushes Capital Base Above ₦500bn

January 8, 2026

United Bank for Africa (UBA) has successfully concluded its rights issue, raising ₦157.84 billion through the issuance of 3.16 billion ordinary shares at ₦50

Business·Markets·News

GivTrade Secures UAE SCA Category 5 Licence

December 29, 2025

GivTrade, an international multi-asset brokerage providing access to global markets via CFDs, on Wednesday announced that it has been granted a Category 5 (“Arrangement

Latest

Business·Top Stories

Dollar Appreciates Against Naira In Black Market, Trades At N1,454/$

February 2, 2026

The black market recorded a N17.99 kobo increase in the foreign exchange (FX) rate of the United States dollar (USD) on Monday, February 2. During trading, the American greenback exchanged for N1,454.99 kobo per dollar, above the N1,437 per $1 it traded

Business·Top Stories

NGX Records Sluggish Growth As Market Cap Rises By N9.12bn

February 2, 2026

Trading was sluggish in the Nigerian Exchange (NGX) on Monday, February 2, as the all-share index (ASI) expanded slightly by 14.23 basis points. The ASI closed at 165,384.63 index, up from the 165,370.4 ASI reported on Friday, January 30. Consequently, the market

News·Top Stories

Obi Accuses Tinubu Government of Fiscal Recklessness Over Overlapping Budgets

February 2, 2026

Former Anambra State Governor, Peter Obi, has accused the administration of President Tinubu of fiscal recklessness, citing what he described as Nigeria’s growing culture of overlapping budgets, poor implementation, and declining transparency in public finance management. In a statement on Monday, Obi

Business·Top Stories

Femi Otedola’s Investment In First HoldCo Now N362.48bn

February 2, 2026

Femi Otedola, the chairman of First HoldCo, has increased his stake in the financial institution by 6.32 percent, from 11.8 percent held at the end of 2024 to 18.12 percent as of December 31, 2025. In the company’s unaudited consolidated and separate

News·Top Stories

Tinubu’s Reforms Driving Nigeria’s Rising Role in Global Growth – Presidency

February 2, 2026

Nigeria’s inclusion among the world’s top 10 contributors to global real GDP growth projected for 2026 is a clear validation of the economic reforms being implemented by President Tinubu, according to the Presidency, Prime Business Africa reports. Data released by the

News·Top Stories

Tinubu Hails Fela Kuti on Posthumous Grammy Lifetime Achievement Award

February 2, 2026

President Tinubu has paid glowing tribute to Afrobeat pioneer, Fela Anikulapo Kuti, following his posthumous recognition with the Recording Academy of America’s Grammy Lifetime Achievement Award, Prime Business Africa reports. In a statement issued by the State House on Sunday, the President

News·Nigeria·Security·Top Stories

US Cannot Force Nigeria to Cancel Turkey Arms Deal – Defence Chief

February 2, 2026

Nigeria’s defence minister has said the United States cannot pressure the government into cancelling its new military partnership with Turkey, as the country prepares to receive defence equipment and technology from Ankara in the coming weeks. General Christopher Musa, a former chief

Opinion·Sports·Top Stories

Giants Real Madrid Becoming Teeters

February 2, 2026

Ordinarily, there ought to be no big deal about Real Madrid or a strong reason to single them out of the hundreds of football teams in Europe. But lately, their uneasy dance towards weak displays, and their constant shift away from their

Africa·News·Top Stories

Rwanda Leads Sub-Saharan Africa in Rule of Law Rankings – WJP Index 2025

February 1, 2026

Rwanda has been ranked as the country with the strongest rule of law in Sub-Saharan Africa, according to the World Justice Project (WJP) Rule of Law Index 2025, a global benchmark that measures how effectively countries uphold legal accountability, justice and governance

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