Fakoyejo Olalekan

NNPC, Oil Marketers Disagree Over Fuel Subsidy Regime Contract

The Nigerian National Petroleum Company (NNPC) Limited has informed members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) to take delivery of petrol they paid for during the subsidy regime at a new price that includes the Value Added Tax (VAT).

July 11, 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 To Probe Loan Apps, As Lenders Resume Customer Harassment

Loan apps in Nigeria risk another clampdown on their operations by the Federal Competition and Consumer Protection Commission (FCCPC), as they devise new ways to engage customers. Digital lending companies have been in the news lately over their harassment of debtors, a

July 10, 2023

Business·Markets

MRS, Neimeth, Others Lift Stock Market Cap By N851.22bn

Over N851.22 billion gain was recorded in the Nigerian stock market on Monday, with the bourse’s capitalisation closing at N35.17 trillion, up from N34.32 trillion. The All-Share Index appreciated by 2,583.81 basis points from 62,019.88 ASI to 64,603.69 ASI. On the exchange floor, investors exchanged

July 10, 2023

Business·Insights

GTCO, First Bank Fail To Make Top Five Performing Nigerian Bank Stocks

Nigerian bank stocks were one of the best investable assets in the capital market in the first half (H1) of 2023, Prime Business Africa’s analysis has revealed. High demand for bank shares raised investors’ investments significantly, as shareholders of the 12 Deposit

July 10, 2023

Business·Currency

Capital Importation To Nigeria Hits $1.13bn In Q1, UK Leads Origin Of Investments

Nigeria’s total capital importation was $1.13 billion in the first quarter (Q1) of 2023, with the United Kingdom, United Arab Emirates, United States, South Africa and Singapore leading investments into the country. This is 6.78 per cent higher than the $1.06 billion

July 10, 2023

Naira Opens Week With Gain Across FX Markets

Business·Currency

Official Dollar Rate Surpasses Black Market Price, One Pound Hits N1002

In the official market on Friday, the dollar rate was increased by N14.27 kobo by the authorised dealers, while the naira depreciated by 1.87 per cent. This led to their clients buying the United States Dollar (USD) at the rate of N776.90/$1,

July 10, 2023

Stock Market Cap Closes At N34.97trn, Investors Gain N40.9bn

Business·Markets

Nigerian Bourse Valuation Lifted By N555bn, First Bank, Wema Bank Top Trade

About N555.69 billion was added to the market capitalisation of the Nigerian stock exchange on Friday, raising the caqpitalisation by 1.64 per cent. This raised the bourse’s valuation to N34.32 trillion, from N33.77 trillion. The All-Share Index appreciated to 63,040.41 ASI, up

July 7, 2023

Fresh Petrol Price Hike Stokes Fears Of Further Inflation Spike In Nigeria

Business·Oil & Gas

FG Using Oil Companies’ Fines To Increase Revenue – Major Oil Marketers

The Chairman of the Major Oil Marketers Association of Nigeria (MOMAN), Olu Adeosun, said the fuel subsidy removal will increase the Federal Government’s revenue from the oil industry. Adeosun stated that the removal of fuel subsidy, which ushered in the complete deregulation

July 7, 2023

CBN Issues Guideline On How To Avoid Getting Duped By Illegal Financial Operators

Business

CBN Warns GTBank, Stanbic IBTC, Others Over Dealings With 6 Countries

The Central Bank of Nigeria (CBN) has warned Deposit Money Banks (DMBs) and other financial institutions in Nigeria to take extra caution when transacting with businesses or individuals residing in Cameroon, Croatia, Russia three others. In a circular reference: FPR/AML/PUB/BOF/001/029, released on Thursday,

July 7, 2023

Naira Appreciates At Official Market As Dollar Supply Rises On Friday

Business·Currency

Official Market Dollar Sold At N762/$1, Euro, Pound Fluctuate In Black Market

In the investors’ and exporters’ window of the official market, the United States Dollar (USD) was sold at N762.63/$1 on Thursday, 6 July. The FMDQ Exchange, the official foreign exchange rate aggregator, reported that the rate surpassed the N742.31/$1 rate dollar that

July 7, 2023

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Fakoyejo Olalekan

NNPC, Oil Marketers Disagree Over Fuel Subsidy Regime Contract

FCCPC To Probe Loan Apps, As Lenders Resume Customer Harassment

MRS, Neimeth, Others Lift Stock Market Cap By N851.22bn

GTCO, First Bank Fail To Make Top Five Performing Nigerian Bank Stocks

Capital Importation To Nigeria Hits $1.13bn In Q1, UK Leads Origin Of Investments

Official Dollar Rate Surpasses Black Market Price, One Pound Hits N1002

Nigerian Bourse Valuation Lifted By N555bn, First Bank, Wema Bank Top Trade

FG Using Oil Companies’ Fines To Increase Revenue – Major Oil Marketers

CBN Warns GTBank, Stanbic IBTC, Others Over Dealings With 6 Countries

Official Market Dollar Sold At N762/$1, Euro, Pound Fluctuate In Black Market

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