Fakoyejo Olalekan

Reps To Probe NPA, Customs, 3 Others After Illegal Sale Of Gov’t Properties

The Nigeria Ports Authority (NPA), the Nigeria Customs Service (NCS) and three other agencies have been accused of illegal auction of Federal Government properties. Also accused are the Nigeria Railway Corporation (NRC), River Basin Development Authority (RBDA), and the Nigeria Maritime Administration

July 7, 2023

Business·Markets

Nigerian Stock Exchange Valuation Hit N33.77trn, UBN, Conoil, Others Earn N270bn

Nigerian bourse closed with N33.77 trillion market capitalisation on Thursday, rising by 0.80 per cent, after investors traded N95 billion shares on the exchange floor. The increase represents N270.24 billion gain driven by the Union Bank of Nigeria (UBN). It raised the

July 6, 2023

Why Nigerian Airlines Have Been Unable To Compete With Foreign Operators - Keyamo

Business·Insights

Top Five Most Profitable Airlines In The World

The top five most profitable airlines in the world generated $9.97 billion in 2022, with the United States accounting for two airlines on the list. Prime Business Africa notes that the profits of these airlines are driven by the number of fleets

July 6, 2023

New Pos Charges: PoS Operators Risk N10m Fine, Imprisonment

Business

FCCPC To Investigate, Penalise POS Agents, Says POS Service Price Increase Illegal

The Federal Competition and Consumer Protection Commission (FCCPC) has revealed that it is illegal for Point of Sale (POS) agents to jointly agree on fixing prices for their services. In a statement on Wednesday, 6 June, FCCPC’s executive vice-chairman and Chief Executive

July 6, 2023

Naira Ends Week With Marginal Gain Against Dollar

Business·Currency

Dollar Rate Down N26 In Official Market, Black Market Price Rises

The cost of the United States Dollar (USD) in the official market was reduced by N26.13 kobo on Wednesday, June 5, FMDQ Exchange reports. As stated by the official market foreign exchange aggregator, the decrease pushed the dollar rate to N742.31/$1, against

July 6, 2023

Business

IMF Asks Nigeria, Others To Charge VAT, Capital Gains Tax On Crypto Assets

The International Monetary Fund (IMF) said Nigeria and other countries didn’t take advantage of the opportunity to generate $100 billion from the cryptocurrency industry. IMF, in a report titled; “Crypto Poses Significant Tax Problems—and They Could Get Worse,” said Nigeria and other

July 6, 2023

Bulls Charge Ahead As NGX Shatters Records As Market Cap Surpasses N50trn

Business·Markets

Nigerian Stock Market Cap Up By N440.38bn, Learn Africa Leads Gainers

On Wednesday, 5 June, the Nigerian stock market capitalisation settled at N33.50 trillion, rising by 1.33 per cent. The day before, the market capitalisation ended trading with N33.05 trillion, indicating a growth of N440.38 billion. This was driven by the All-Share Index,

July 5, 2023

Business

South-West, North-East Pay Higher Intercity Bus Fare, Prices Rise Over N4,000

The National Bureau of Statistics (NBS) said residents of the South-West and North-East paid the highest intercity bus transport in May, as intercity average fare rises to N4,002.16. It was learnt that the intercity bus transport fare increased year-on-year by 9.09 per

July 5, 2023

External Reserves Fall To Two-Year Low, To Affect Tinubu’s N200/$1 Rate Ambition

Business

New Report Shows Employment Up, New Businesses Emerge After Fuel Subsidy Removal

Employment in Nigeria increased in June according to a new report by Stanbic IBTC Purchasing Managers’ Index (PMI), which stated that the removal of fuel subsidy did negatively impact businesses, but didn’t stop their expansion. The PMI grades Nigeria’s private sector or

July 5, 2023

Business·Currency

Black Market Dollar Rate Slightly Surpasses Official Window Price

On Tuesday, the dollar cost more in the black market than in the official market, according to aggregators of both foreign exchange channels. In the Bureau De Change window of the black market, the dollar was offered for sale at an average

July 5, 2023

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Fakoyejo Olalekan

Reps To Probe NPA, Customs, 3 Others After Illegal Sale Of Gov’t Properties

Nigerian Stock Exchange Valuation Hit N33.77trn, UBN, Conoil, Others Earn N270bn

Top Five Most Profitable Airlines In The World

FCCPC To Investigate, Penalise POS Agents, Says POS Service Price Increase Illegal

Dollar Rate Down N26 In Official Market, Black Market Price Rises

IMF Asks Nigeria, Others To Charge VAT, Capital Gains Tax On Crypto Assets

Nigerian Stock Market Cap Up By N440.38bn, Learn Africa Leads Gainers

South-West, North-East Pay Higher Intercity Bus Fare, Prices Rise Over N4,000

New Report Shows Employment Up, New Businesses Emerge After Fuel Subsidy Removal

Black Market Dollar Rate Slightly Surpasses Official Window Price

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