Fakoyejo Olalekan

Shareholders In Nigerian Stock Market Lost N85.64 billion, As Sell Off End Gains

The bulls movement was halted on Tuesday, as pessimistic investors offloaded shares on the exchange floor, plunging the capital market down by -0.30% This represents a loss of N85.64 billion in the market capitalisation, which closed trading at N27.92 trillion, below Monday’s

June 28, 2022

Business·Insights

Facebook’s Mark Zuckerberg Loses N98.09 billion, Drops Out Of Top 15 Richest List

In the last one year, Mark Zuckerberg, the founder of Facebook, has gone from being the fifth richest person, to not being listed among the top fifteen billionaires across the world, as his firm’s stock depreciates. Zuckerberg had risen into the top

June 28, 2022

Business·Currency

Dollar To Naira Exchange Rate: Dollar Sells At N421 As Trade Value Drops

June 27, 2022: Trading at the Investors and Exporters (I&E) window saw an exchange of $152.96 million, falling by $10.02 million, as the naira depreciated on the official foreign exchange market on Monday. According to data obtained from the FMDQ, which houses

June 28, 2022

Business·Oil & Gas

FG Sends Agencies To Shutdown Filling Stations Selling Petrol Above N165

Filling stations selling Premium Motor Spirit (PMS) above N165 will lose their license of operation, the Nigerian government, as its agencies commence joint inspection of retailers in Abuja. The threat followed statement of the Independent Petroleum Marketers Association of Nigeria (IPMAN) regarding

June 28, 2022

Business

10 Highest Paying Nigerian Companies In 2021

The top ten highest paying companies per staff in Nigeria as of 2021 is dominated by commercial banks or financial institutions, with MTN, Seplat and Lafarge leading the list, which showed 50 largest companies in the country paid N846.88 billion as salary.

June 28, 2022

Business·Markets

Ecobank, Okomu Oil Lift Stock Market, As Equity Cap Crosses N28 trillion

On Monday, the Nigerian stock market gained 0.49% to lift the equity capitalisation up from N27.87 trillion to N28.01 trillion. The growth was on the back of a bullish run in the market share, which has seen the All Share Index rise

June 27, 2022

Business

4 Nigerian Banks That Changed Names After Corruption Allegations, Others

Nigerian banks have changed names for several reasons, but the major factor has been corruption cases, which made the Central Bank of Nigeria (CBN) revoke their licences and bring in new owners. The new owners had to re-brand the banks to avoid

June 27, 2022

Business

Three Revenue Sources That Helped Nigerian Gov’t Make ₦680.78 billion From Nigerians In One Months

The Federal, States and Local Governments received ₦680.783 billion from the Federation Account Allocation Committee (FAAC) in May 2022. This includes funds generated from Value-Added Tax (VAT) and Electronic Money Transfer Levy (EMTL). Amount shared by the three tiers of governments is

June 27, 2022

Naira Opens Week With Gain Across FX Markets

Business·Currency

Dollar To Naira Exchange Rate, 24/27 June 2022: Dollar Rate Rises, As Demand Soars From Hajj Pilgrims, Others in Black Market

The value of Naira in the black market further depreciated on Monday, as demand for the dollar rose due to Nigerian pilgrims heading outside the country for Hajj in Mecca, Saudi Arabia. At the opening of the parallel market, traders increased the

June 27, 2022

Business

Nigerian Subscribers Spend More On DSTV, Than Other African Markets

MultiChoice, the parent company of DSTV and GoTV, reports the cable firm’s highest revenue growth for FY 2022 among its markets, excluding South Africa, was recorded in Nigeria. In its breakdown of earnings from the Rest of Africa (RoA), MultiChoice subscription growth

June 27, 2022

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Fakoyejo Olalekan

Dollar To Naira Exchange Rate: Dollar Sells At N421 As Trade Value Drops

FG Sends Agencies To Shutdown Filling Stations Selling Petrol Above N165

10 Highest Paying Nigerian Companies In 2021

Ecobank, Okomu Oil Lift Stock Market, As Equity Cap Crosses N28 trillion

4 Nigerian Banks That Changed Names After Corruption Allegations, Others

Three Revenue Sources That Helped Nigerian Gov’t Make ₦680.78 billion From Nigerians In One Months

Dollar To Naira Exchange Rate, 24/27 June 2022: Dollar Rate Rises, As Demand Soars From Hajj Pilgrims, Others in Black Market

Nigerian Subscribers Spend More On DSTV, Than Other African Markets

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