Fakoyejo Olalekan

Naira Ends Week With Marginal Gain Against Dollar

Updated: CBN Officially Devalues Naira, Dollar Sells At N664

The Central Bank of Nigeria (CBN) has finally devalued the naira, Prime Business Africa gathered from FMDQ Exchange on Wednesday night. According to FMDQ Exchange, which is the official market foreign exchange aggregator, the dollar closed at N664.04/$1. The dollar rate was

June 14, 2023

Naira Gains More As Exchange Rate Drops To N1,300/$1 At Official Market

Business·Currency

CBN Devalues Naira, Orders Banks To Sell Dollar, Others At Market Determined Rates

The Central Bank of Nigeria (CBN) has reportedly directed Deposit Money Banks (DMBs) to sell dollars, euros and pounds at market-determined rates. According to a report by Nairametrics, the CBN has decided to allow Nigeria’s foreign exchange markets to operate a freely

June 14, 2023

Business

Railway Revenue Drops By N1.31 billion Within Three Months

The revenue of railway transport fell by N1.31 billion in the first quarter (Q1) of 2023, as the number of passengers dropped by 53.65% during the period. In a report released by the National Bureau of Statistics (NBS), rail transport’s passenger revenue

June 14, 2023

Africa·Business

Kenyan President, Ruto, Seek End To Dollar Payment Among African Traders

Kenyan President, William Ruto, has asked other African countries to embrace local currencies during trading within the continent. Ruto said traders from different African countries should reduce their dependence on the use of dollars to ease business transactions. He questioned why African

June 14, 2023

Naira Opens Week With Gain Across FX Markets

Business·Currency

Forex Traders Drop Prices Of Dollar, Pound, Euro In Official Window, Black Market

In the official window and the black market on Tuesday, the naira appreciated in value, as the rates of the dollar, pound and euro fell. According to FMDQ Exchange, at the end of trading, the dollar rate settled at N471.67, dropping slightly

June 14, 2023

Wema Bank, BUA Cement, Others Cost Stock Market Investors N672bn

Business·Markets

Stock Market In Nigeria Rises By N1.21 trillion In Value, GTCO, Zenith Bank Among Gainers

Nigerian bourse’s market capitalisation went up from Friday’s N30.45 trillion to N31.67 trillion on Tuesday, indicating N1.21 trillion or 3.99% growth in the stock exchange valuation. It followed the same path as the All-Share Index, which rose to 58,163.59 index points, up

June 13, 2023

Seplat Shareholders Demand Sack Of CEO, Board Amid Legal Fees Controversy

Business·Oil & Gas

FG Lifts Ban On Seplat CEO, Roger Brown, Returns Visa, Work Permits

Seplat Chief Executive Officer, Roger Brown, has been allowed to return to Nigeria after the Federal Government returned his seized visa and work permits. Brown’s work permit, Combined Expatriate Residence Permit and Aliens Card (CERPAC) and other visas for entry or stay

June 13, 2023

Emefiele Settles For Plea Bargain In N6.9bn Procurement Fraud Case

Business

Whistleblower Reveals How Emefiele Detained Him For 101 Days Over $3bn Forex Scam

The Chairman of the George Uboh Whistleblowers Network, George Uboh, said he was detained for 101 days by Godwin Emefiele for exposing his alleged involvement in a forex scam. Uboh said Emefiele detained him in 2019, the same day the Senate was

June 13, 2023

Business

CBN Fines Unity Bank N8 million, Net Profit Drops By N2.23 billion

The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) fined Unity Bank N17 million for breaching their regulations. Unity Bank was fined N8 million by the central bank during the 2022 financial year for various offences, the company’s

June 13, 2023

Naira Vs Dollar: What To Expect This Week (2nd - 6th June 2025)

Business

Dollar, Euro, Pound Rates Rise After Emefiele’s Arrest

On Monday, the average rate to exchange the naira to the dollar in the black market increased by N4 or 0.53%, as the naira shed some value to the American greenback. According to Naira Rates, a parallel market rate aggregator, the naira

June 13, 2023

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Fakoyejo Olalekan

Updated: CBN Officially Devalues Naira, Dollar Sells At N664

CBN Devalues Naira, Orders Banks To Sell Dollar, Others At Market Determined Rates

Railway Revenue Drops By N1.31 billion Within Three Months

Kenyan President, Ruto, Seek End To Dollar Payment Among African Traders

Forex Traders Drop Prices Of Dollar, Pound, Euro In Official Window, Black Market

Stock Market In Nigeria Rises By N1.21 trillion In Value, GTCO, Zenith Bank Among Gainers

FG Lifts Ban On Seplat CEO, Roger Brown, Returns Visa, Work Permits

Whistleblower Reveals How Emefiele Detained Him For 101 Days Over $3bn Forex Scam

CBN Fines Unity Bank N8 million, Net Profit Drops By N2.23 billion

Dollar, Euro, Pound Rates Rise After Emefiele’s Arrest

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