Fakoyejo Olalekan

Senate Summons Emefiele Over Rising Dollar Rate, Lists 2 Things CBN Must Do

Nigerian Senate has summoned Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, over the depreciating rate of the naira, as Senator Biodun Olujimi, said someone must be punished. Emefiele was summoned following a motion raised by lawmaker representing Ekiti north,

July 27, 2022

Africa·Business

Angolan Miners Discover Largest Pink Diamond In 300 Years

Australian mining operator, Lucapa Diamond Company, said the largest pink diamond in 300 years has been discovered by Angolan miners at the Lulo mine, operated by the foreign firm. The 170 carat pink stone, which is yet to be cut and polished

July 27, 2022

Domestic Airplane Ticket Rises By 97.09%, As Inflation, Dollar Rate, Others Bite

Business

Aviation Fuel Rises From N180 To N1000, As FG Reveals No Immediate Solution

The price of aviation fuel, also known as JET A1, has risen to N1000, the President of Airline Operators of Nigeria (AON), Abdulmunaf Sarina, revealed on Tuesday, as they struggle with rising cost of operation. Within Q4 2021 and the third quarter

July 27, 2022

Naira Appreciates At Official Market As Dollar Supply Rises On Friday

Business·Currency

Black Market Dollar To Naira Exchange Rate: Dollar Sells At N685 In Black Market, N431 In I&E Window

July 26, 2022 Dollar Rate Update: The naira remains weak against the United States currency, dollar, as scarcity overwhelms the official foreign exchange market, Investors & Exchange window, as well as the black market on Tuesday. Bureau De Change operators raised the

July 27, 2022

Business

Nigerian Gov’t To Lose Revenue To Dana Air Suspension, Aero Contractors Flight Withdrawal

The acting Managing Director of Nigerian Airspace Managing Agency (NAMA), Mathew Pwajok, has disclosed that the revenue of the Federal Government will decline due to challenge faced by Dana Air and Aero Contractors. Pwajok explained that reduction in number of flights will

July 27, 2022

Business·Insights

How MTN Nigeria Investors Lost N742.93 billion In Two Days

As the capital market nosedive, investors in MTN Nigeria are counting their losses, as shareholders investment in the telecommunications company depreciated significantly. Within two days, MTN Nigeria investors lost -15.9% of their investment due to sell off among shareholders, reflecting dwindling confidence

July 26, 2022

Business

Nigerian Bank, FCMB Slammed With Over N3 million Penalty

FCMB Group was penalised in the second quarter of 2022, its financial statement, released on Tuesday, has revealed. The company also increased its turnover for the period under review. In the earnings report obtained from the portal of the Nigerian capital market

July 26, 2022

Naira Ends Week With Marginal Gain Against Dollar

Business·Currency

Black Market Dollar To Naira Exchange Rate: $1 Nears N700, As CBN Continues To Snub BDC Operators

July 25, 2022 Dollar Rate Update: Bureau De Change operators increased the cost of buying dollar by 1.65% on Monday, as demand overwhelms availability in the black market, amid lack of support from the Central Bank of Nigeria (CBN). The BDC operators

July 26, 2022

Business·News

CBN Fined N100,000, As Emefiele Moves To Stop Pension Payment To Former Governor, Three Others

The Central Bank of Nigeria (CBN) has filed a stay of execution at the National Industrial Court, to stop the payment of pension arrears to former Taraba governor, Jolly Nyame, and three others. On July 12, 2019, Justice Sanusi Kado had ordered

July 26, 2022

Business

Nigerian Bakers Increase Cost Of Bread – Full List

The cost of raw materials has forced Nigerian bakers to increase price of bread by 20%, while some have chosen to proceed on a four days warning strike, to compel government into intervening. Cross River bakers said they will raise price of

July 26, 2022

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Fakoyejo Olalekan

Senate Summons Emefiele Over Rising Dollar Rate, Lists 2 Things CBN Must Do

Angolan Miners Discover Largest Pink Diamond In 300 Years

Aviation Fuel Rises From N180 To N1000, As FG Reveals No Immediate Solution

Black Market Dollar To Naira Exchange Rate: Dollar Sells At N685 In Black Market, N431 In I&E Window

Nigerian Gov’t To Lose Revenue To Dana Air Suspension, Aero Contractors Flight Withdrawal

Nigerian Bank, FCMB Slammed With Over N3 million Penalty

Black Market Dollar To Naira Exchange Rate: $1 Nears N700, As CBN Continues To Snub BDC Operators

CBN Fined N100,000, As Emefiele Moves To Stop Pension Payment To Former Governor, Three Others

Nigerian Bakers Increase Cost Of Bread – Full List

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