Fakoyejo Olalekan

Over N535.37bn Gained By Shareholders In Dangote Sugar, Tantalizer, Others

In a report released by the Nigerian Exchange Limited (NGX), over N535.37 billion was gained in the stock market on Friday, following an increase in the value of shares of Dangote Sugar, Tantalizer and others. Prime Business Africa learnt that the gain

September 1, 2023

Business

Negative Signal: Board Director, Sola David-Borha, Sells Off All Shares In Stanbic IBTC

The Non-executive director at Stanbic IBTC, Sola David-Borha, sold off all her shares in the financial institution three months after she was re-elected by the shareholders of the company. David-Borha sold 615,812 units of shares she held in Stanbic IBTC to take

September 1, 2023

Business

NLC To Embark On Warning Strike On Tuesday

The Nigeria Labour Congress (NLC) has concluded on embarking on two two-day warning strike starting from Tuesday, 5 September 2023. This is according to a member of the union who said: “There will be a warning strike starting from Tuesday. The national

September 1, 2023

CBN Releases Another Around Of $10,000 FX To Each BDC, Mandates Them To Sell At N1,117/$1

Business·Currency

CBN-backed Official Window Record Increase In Dollar Rate, USD Falls In Black Market

The price of the United States currency, the dollar, was increased by N24.53 kobo in the Investors’ and Exporters’ window of the official market on Thursday. In a report obtained from the FMDQ Exchange, the dollar rate rose to N762.71/$1 at the

September 1, 2023

Business·Oil & Gas

NNPC Doesn’t Have Fuel To Sell – Oil Marketers’ Depot Chairman Says

The Chairman of Satellite Depot, Independent Petroleum Marketers Association of Nigeria (IPMAN), Lagos, Akin Akinrinade, said the retail stations owned by the Nigerian National Petroleum Company (NNPC) Limited don’t have fuel to sell. Akinrinade stated that fuel scarcity is affecting both the

September 1, 2023

Business·Markets

Nigerian Stock Market Record Highest Level In 15-years, Equity Cap Up N59.90bn

On Thursday, the Nigerian stock market hit an all-time high in 15 years, with the stock market rising by 0.16 per cent to achieve the feat. Based on stock market data, the bourse’s capitalisation climbed to N36.42 trillion, up by N59.90 billion

August 31, 2023

Business

FG Losing N499m Monthly, As Abuja-Kaduna Rail Line Revenue Falls From N500m To N1m

The Managing Director of the Nigeria Railway Corporation (NRC), Fidet Okhiria, said the revenue generated by the Abuja-Kaduna rail line has dropped by N499 million after the attack by terrorists. Okhiria disclosed on Wednesday that the monthly revenue dropped to N1 million

August 31, 2023

Business

Financial Obligations Force MTN Nigeria To Borrow N125bn From Commercial Paper Investors

MTN Nigeria said its commercial paper issuance was oversubscribed in the capital market, leading to the company raising N125 billion, a statement released to the Nigerian Exchange Limited disclosed. The telecommunications company said it recorded 146 per cent subscription in its Series

August 31, 2023

Business·Currency

Official Market Records Decline In Dollar Rate, Trade Flat In Black Market

The FMDQ Exchange reported on Wednesday that the price of the United States Dollar (USD) dropped by N37.16 kobo to N738.18/$1 in the Investors’ and Exporters’ window. It was learnt that the exchange rate between the naira and the dollar was brought

August 31, 2023

Business

Dangote Sugar Reveals Allotted Shares Proposed For Merger With NASCON, Rice Producer

The companies owned by Aliko Dangote, NASCON Allied Industries, Dangote Sugar, and Dangote Rice Limited (DRL) have agreed to go ahead with the merger of the three companies. This was disclosed by Dangote Sugar in a statement sent to its shareholders and

August 31, 2023

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Fakoyejo Olalekan

Over N535.37bn Gained By Shareholders In Dangote Sugar, Tantalizer, Others

Negative Signal: Board Director, Sola David-Borha, Sells Off All Shares In Stanbic IBTC

NLC To Embark On Warning Strike On Tuesday

CBN-backed Official Window Record Increase In Dollar Rate, USD Falls In Black Market

NNPC Doesn’t Have Fuel To Sell – Oil Marketers’ Depot Chairman Says

Nigerian Stock Market Record Highest Level In 15-years, Equity Cap Up N59.90bn

FG Losing N499m Monthly, As Abuja-Kaduna Rail Line Revenue Falls From N500m To N1m

Financial Obligations Force MTN Nigeria To Borrow N125bn From Commercial Paper Investors

Official Market Records Decline In Dollar Rate, Trade Flat In Black Market

Dangote Sugar Reveals Allotted Shares Proposed For Merger With NASCON, Rice Producer

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