Fakoyejo Olalekan

Naira Ends Week With N59.71 Gain At Official Market

Black Market Increases Dollar, Pound, Euro Rates

Foreign exchange currencies in the black market – dollar, pound and euro – appreciated against the naira on Thursday, 9 June. Parallel market rate aggregator indicated that the average rate of the dollar was N756.8/$1, up from N754.5/$1 the previous day. This

June 9, 2023

How Loss Of Over $5 Trillion In U.S. Stock Exchange Affects Nigeria

Business·Markets

Investors Lose N37 billion Due To Low Demand For Caverton, Stanbic IBTC, Others

The total valuation of equities in the Nigerian stock market dipped N37 billion on Thursday, to depreciate from N30.50 trillion to N30.46 trillion. It followed the All-Share Index’s path, which shed 67.93 basis points from the 56,024.52 ASI reported the previous day, to settle

June 8, 2023

Business·Insights

Foreign Investors Reduce Stock Market Investments From 54% To 16% Under Buhari

Foreign investors significantly reduced their participation in the Nigerian stock market during Muhammadu Buhari’s tenure as President of Nigeria. According to stock market data analysed by Prime Business Africa, foreign investors dropped their equity trading from a whopping 54 per cent in

June 8, 2023

Business·Oil & Gas

Tinubu Tables Request After State Governors Back Fuel Subsidy Removal

The Nigerian Governors’ Forum (NGF) has thrown its weight behind the removal of fuel subsidy by President Bola Tinubu. According to the Chairman of the governors’ forum, AbdulRahman AbdulRazaq, Governor of Kwara State, the group will work with Tinubu to cushion the

June 8, 2023

Dangote Cement GMD Defends Company's Prices After Criticism

Business·Oil & Gas

NNPC Reveals Dangote Yet To Request Crude Oil Since Commissioning Refinery

The Nigerian National Petroleum Company (NNPC) Limited has revealed that Dangote Refinery is yet to receive crude as the company owned by Aliko Dangote hasn’t made any request. NNPC Limited spokesperson, Garba-Deen Muhammad, made this known while addressing the national oil firm’s

June 8, 2023

Naira Appreciates At Official Market As Dollar Supply Rises On Friday

Business·Currency

Cost Of Dollar Up In Black Market, Euro Sold At Lower Rate

Foreign exchange traders in the black market were offered the dollar at an average rate of N754.5 kobo on Wednesday. Naira Rates, a black market rate aggregator, reported that the price of the United States Dollar (USD)increased by 0.14% or N1.1 kobo

June 8, 2023

Business·Markets

Investors In Union Bank, Flour Mills, Others Lose N7.80bn In Stock Investments

About N7.80 billion was wiped off the Nigerian stock market on Wednesday, resulting in the equity capitalisation depreciating by -0.02 per cent. Consequently, the bourse’s capitalisation dropped to N30.50 trillion from N30.51 trillion. The All-Share Index dwindled to 56,024.52 ASI, shedding 14.33

June 7, 2023

Business

Nigeria Air Unveiling Is Like Naming Ceremony Without Child, Investor, SAHCO, Slams Minister

Skyway Aviation Handling Company (SAHCO), an investor in Nigeria Air, criticised the handling of the national carrier by the Minister of Aviation, Hadi Sirika. According to the representative of SAHCO, Boye Oyewumi, the unveiling of Nigeria Air by Sirika is like a naming

June 7, 2023

Business

Obvious Scam: Everything You Need To Know About Allegations Against Mmobuosi’s Tingo Group

Nigerian fintech entrepreneur, Dozy Mmobuosi, who is the founder of Tingo Group, has been accused by U.S. investment research firm, Hindenburg Research, of running a scam operation. Hindenburg in a report on Tuesday said Mmobuosi has a trail of scams, one of

June 7, 2023

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

Business

Emefiele Faces Probe Over Missing Crude Oil, Undocumented N32.5bn Payment

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, will be probed over missing 48 million barrels of Bonny Light crude and undocumented payments. On Tuesday, the House of Representatives’ ad hoc committee summoned Emefiele to provide answers to the N32.5

June 7, 2023

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Fakoyejo Olalekan

Black Market Increases Dollar, Pound, Euro Rates

Investors Lose N37 billion Due To Low Demand For Caverton, Stanbic IBTC, Others

Foreign Investors Reduce Stock Market Investments From 54% To 16% Under Buhari

Tinubu Tables Request After State Governors Back Fuel Subsidy Removal

NNPC Reveals Dangote Yet To Request Crude Oil Since Commissioning Refinery

Cost Of Dollar Up In Black Market, Euro Sold At Lower Rate

Investors In Union Bank, Flour Mills, Others Lose N7.80bn In Stock Investments

Nigeria Air Unveiling Is Like Naming Ceremony Without Child, Investor, SAHCO, Slams Minister

Obvious Scam: Everything You Need To Know About Allegations Against Mmobuosi’s Tingo Group

Emefiele Faces Probe Over Missing Crude Oil, Undocumented N32.5bn Payment

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