Fakoyejo Olalekan

Dangote Sugar Refinery, NASCON Allied, Dangote Rice To Merge

Dangote Sugar Refinery, NASCON Allied Industries Plc and Dangote Rice Limited have resolved to merge their businesses in a bid to expand their industry dominance. In a corporate document released to the capital market authority, the Nigerian Exchange Limited (NGX) on Tuesday,

August 1, 2023

FCCPC) has approved an additional 211 digital money lenders, known as loan apps, marking an increase from 161 fully approved companies in September.

Business

FCCPC Takes Down Approved Loan Apps’ List After Probe Discovers Foul Play

The Federal Competition and Consumer Protection Commission (FCCPC) has deleted the list of Digital Money Lenders (DML) approved to offer quick loan services in Nigeria. In a statement on its website, FCCPC said the list is being reviewed “The list is undergoing

August 1, 2023

Naira Ends Week With N59.71 Gain At Official Market

Business·Currency

Black Market, Official Dollar Rates Fall, Tinubu Defends Naira Devaluation

The official foreign exchange authorised dealers dropped the price of the dollar by N18.82 kobo at the close of trading on Monday. According to the FMDQ Exchange, the official naira to dollar rate closed down at N756.94/$1, in contrast to the N775.76/$1

August 1, 2023

NLC To Embark On Warning Strike On Tuesday

Business

NLC, TUC To Proceed With Nationwide Strike, Tackle Tinubu

The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have disclosed that they will proceed with their planned nationwide strike. Despite the pleas from the Federal Government and President Bola Tinubu’s reassurance that his administration is working to ensure the

August 1, 2023

Business·Markets

Stock Market Investors Lose N391.19bn To Selloffs In Dangote Sugar, Others

Nigerian bourse recorded N391.19 billion loss on Monday after the stock market capitalisation fell to N35.01 trillion following selloffs in Dangote Sugar, Livestock, and others. Prime Business Africa gathered that the market capitalisation depreciated by 1.10 per cent, as it dropped from Friday’s

July 31, 2023

Business·Insights

Nigeria’s Real Estate Investment – What You Need To Know

In 2022, Nigeria’s real estate sector contributed N7 trillion to the country’s gross domestic product (GDP) and it is expected to expand by 5.2 per cent in 2023 according to Bismarck Rewane, the Chief Executive Officer of Financial Derivatives Company Limited. With

July 31, 2023

Business

Tinubu’s CBN Special Investigator: The Rise, Fall And Rise Of Jim Obazee

On Sunday, 30 July 2023, President Bola Tinubu appointed Jim Obazee as the special investigator to probe the Central Bank of Nigeria (CBN). Prior to his appointment, Obazee has been involved in high-profile financial cases and infamous policies that rocked the financial

July 31, 2023

Naira Appreciates At Official Market As Dollar Supply Rises On Friday

Business·Currency

Official Dollar Rate Drops To A Low Of N465, BDC USD Price Rises

In the Investors’ and Exporters’ window of the official market on Friday, the dollar was traded as low as N465/$1 and as high as N799.50/$1. However, the dollar depreciated by N7.16 kobo or 0.93 per cent at the end of trading, considering

July 31, 2023

Business

PenCom Defends DG, Dahir-Umar, Amid Millions Of Dollars In Estacode Allegation

The National Pension Commission (PenCom) has absolved its director general (DG), Aisha Dahir-Umar, of financial impropriety made against her. PenCom said its attention was drawn to some reports alleging that Dahir-Umar was paid millions of dollars during the COVID-19 lockdown in 2020

July 31, 2023

Business·Markets

Guinness, Chams, Others Wipe Off N232.10bn From Nigeria’s Stock Market

The stock market slumped by 0.65 per cent on Friday, as the Nigerian bourse’s capitalisation closed at N35.40 trillion, the Nigerian Exchange Limited (NGX) disclosed in a report. According to the NGX, the depreciation was driven by Chams and Guinness, amongst others,

July 28, 2023

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Fakoyejo Olalekan

Dangote Sugar Refinery, NASCON Allied, Dangote Rice To Merge

FCCPC Takes Down Approved Loan Apps’ List After Probe Discovers Foul Play

Black Market, Official Dollar Rates Fall, Tinubu Defends Naira Devaluation

NLC, TUC To Proceed With Nationwide Strike, Tackle Tinubu

Stock Market Investors Lose N391.19bn To Selloffs In Dangote Sugar, Others

Nigeria’s Real Estate Investment – What You Need To Know

Tinubu’s CBN Special Investigator: The Rise, Fall And Rise Of Jim Obazee

Official Dollar Rate Drops To A Low Of N465, BDC USD Price Rises

PenCom Defends DG, Dahir-Umar, Amid Millions Of Dollars In Estacode Allegation

Guinness, Chams, Others Wipe Off N232.10bn From Nigeria’s Stock Market

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