Fakoyejo Olalekan

Nigeria Accounts For 35% Of Foreign Airlines’ Trapped Funds Globally

The International Air Transport Association (IATA) said airlines’ funds blocked from repatriation in Nigeria is $812.2 million as of April 2023. According to the association, Nigeria has the highest airline funds blocked from repatriation (35.7%) when compared to other countries where airlines

June 5, 2023

Business

Fuel Subsidy: Tinubu To Face First Nationwide Strike, As NLC Announces Protest

Bola Tinubu will experience his first nationwide strike as President of Nigeria, as the Nigeria Labour Congress (NLC) announces an industrial action over the removal of fuel subsidy. After an emergency meeting with NLC National Executive Council (NEC) in Abuja on Friday,

June 2, 2023

Investors To Buy N150 billion-worth Of FBN Holdings Stake

Business

CBN, NGX, SEC Fine First Bank, FBN Holdings N25.9 million For Aiding Fraudulent Dealings, Others

First Bank of Nigeria (FBN) Holdings and its subsidiaries were fined N25.9 million for fraudulent dealings and various contraventions, Prime Business Africa gathered. First Bank of Nigeria Limited, the subsidiary lender, was sanctioned by the Central Bank of Nigeria (CBN) for aiding

June 2, 2023

NNPC Doesn’t Have Fuel To Sell – Oil Marketers’ Depot Chairman Says

Business·Oil & Gas

Kyari Says Dangote, Port Harcourt Refineries Will Not Drop Fuel Price

Dangote Refinery, Port Harcourt Refining Company and other refineries expected to come onstream in Nigeria will not reduce fuel prices in the country. This is according to the Group Chief Executive Officer of Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, during

June 2, 2023

NNPCL Denies Inflating Fuel Subsidy Payments

Business·Oil & Gas

Buhari’s Gov’t Didn’t Pay For Subsidy In 2022, 2023 – NNPC’s Kyari Reveals

The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, has disclosed that the immediate past president, Muhammadu Buhari, didn’t pay for subsidies in 2022 and the first half of 2023. Kyari said Buhari budgeted N6.3

June 2, 2023

Tinubu To Meet APC NWC, N’Assembly Members-elect Sunday

Business·Insights

New Report Shows Number Of People That Watched Tinubu Take Oath Dropped Significantly During Speech

The Presidential inauguration of Bola Tinubu increased the number of viewers recorded by local television stations on Monday. According to a Prime Business Africa survey, using YouTube channels of Arise TV, Channels TV, AIT, LTV, NTA, Silverbird, News Central, TVC, an average

June 2, 2023

Business·Markets

Investors Trade N5.72bn Shares, Stock Market Cap Hit N30.38trn

On Thursday, the market capitalisation of the Nigerian stock exchange closed at N30.38 trillion, with the All-Share Index settling at 55,808.25 ASI. Investors exchanged N5.72 billion in 7,725 deals to trade 390.21 billion shares on Thursday. Top five gainers Conoil’s share appreciated

June 1, 2023

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

Business·Currency

Dollar, Pound, Euro Rates Fall 3 Days Straight In Black Market

The dollar rate in the Bureau De Change of the black market fell by N15.4 kobo on Thursday morning, as foreign exchange traders transacted the United States currency at a rate of N734.6/$1. The day before, the naira exchanged for the dollar

June 1, 2023

NNPC Refutes Viral Claims That Its Fuel Does Not Last

Business·Oil & Gas

IPMAN Lists Three Reasons Fuel Prices Rose From N189 To N500/Litre

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has listed three reasons the costs of Premium Motor Spirit (PMS), also known as fuel, has to be above N500 per litre. According to the Deputy President of Zarama Mustapha, the Nigerian National Petrol

June 1, 2023

CBN Releases Another Around Of $10,000 FX To Each BDC, Mandates Them To Sell At N1,117/$1

Business

Updated: Naira Devaluation Fake News – CBN Denies Increasing Dollar Rate To N631

The Central Bank of Nigeria (CBN) has denied a report that the naira has been devalued after a media outlet reported that the official dollar rate had been increased to N631. A report on Thursday claimed that the CBN increased the dollar

June 1, 2023

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Fakoyejo Olalekan

Nigeria Accounts For 35% Of Foreign Airlines’ Trapped Funds Globally

Fuel Subsidy: Tinubu To Face First Nationwide Strike, As NLC Announces Protest

CBN, NGX, SEC Fine First Bank, FBN Holdings N25.9 million For Aiding Fraudulent Dealings, Others

Kyari Says Dangote, Port Harcourt Refineries Will Not Drop Fuel Price

Buhari’s Gov’t Didn’t Pay For Subsidy In 2022, 2023 – NNPC’s Kyari Reveals

New Report Shows Number Of People That Watched Tinubu Take Oath Dropped Significantly During Speech

Investors Trade N5.72bn Shares, Stock Market Cap Hit N30.38trn

Dollar, Pound, Euro Rates Fall 3 Days Straight In Black Market

IPMAN Lists Three Reasons Fuel Prices Rose From N189 To N500/Litre

Updated: Naira Devaluation Fake News – CBN Denies Increasing Dollar Rate To N631

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