Fakoyejo Olalekan, Author at Prime Business Africa

CBN Reveals JP Morgan’s Intention After Report On Nigeria’s Foreign Reserves

The Central Bank of Nigeria (CBN) Director of Monetary Policy Department, Hassan Mahmud, said the report by JP Morgan on Nigeria’s foreign reserves is an attempt to mislead the public. Mahmud stated that JP Morgan’s intention could also be to rouse market

August 25, 2023

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

Business·Markets

FTN Cocoa, Redstar Express, Others Drag Stock Market Cap Down By N49.80bn

Over N49.80 billion was lost to selloffs in FTN Cocoa, Redstar Express and others on the losers’ list, dragging the stock market capitalisation down to N35.79 trillion on Thursday, from N35.84 trillion. The All-Share Index also closed down, dropping 90.99 basis points, to

August 24, 2023

Business

Nigeria’s Unemployment Falls To 4.1% In Q1 2023, More Male Unemployed

The National Bureau of Statistics (NBS) has disclosed that Nigeria’s unemployment rate dropped in the first quarter of 2023, which falls between January to March. In a report titled; “NIGERIA LABOUR FORCE SURVEY 4TH QUARTER 2022 & 1ST QUARTER 2023,” the NBS

August 24, 2023

Business·Currency·Insights

2years Of BDC Ban: Dollar Hoarders Made Whopping 80% Gain From Emefiele’s Infamous Decision

Six days ago, the Central Bank of Nigeria (CBN) lifted the restriction placed on sales of foreign exchange to the Bureau De Change operators by the apex Bank’s suspended chief, Godwin Emefiele. Since his suspension, the CBN’s acting governor, Fola Shonubi, has

August 24, 2023

Business·Currency

Black Market, Official Window Dollar Rates’ Gap Widens To N127 After BDCs Hike USD Price

Foreign exchange traders recorded a slight increase in the price of the United States Dollar (USD) in the official market on Wednesday, as the rate rose to N773.42/$1 from N770.72/$1 rate. However, that was not the only rate offered in the official

August 24, 2023

Business

Ikeja Hotel Puts 40% Of Company Up For Sale Amid Declining Revenue

Ikeja Hotel has informed the capital market that the company will place 1.13 billion shares on sale to raise funds, a corporate document sent to the Nigerian Exchange Limited (NGX) has revealed. The shares, estimated at a value of over N3.54 billion based

August 24, 2023

Stock Market Rally Halted As Demand For Ecobank, PZ Cussons Shares Dropped

Business·Markets

ABC Heads Gainers’ List, Conoil Disappoints, As Stock Market Records Sluggish Growth

After trading closed on Wednesday, the Associated Bus Company (ABC) led the gainers’ table and Conoil topped the losers’ chart, with the Nigerian bourse rising by N2.26 billion in value. This was disclosed in market data obtained from the Nigerian Exchange Limited

August 23, 2023

Business·Markets

Nigeria’s Capital Market Authority Mulls Dollar-denominated Bond, Stock Listings

The Nigerian Exchange Limited (NGX) has proposed the listing of dollar-denominated bonds and stocks in the capital market to help improve the challenges in the foreign exchange market. Companies operating at the free trade zones and firms that earn in dollars will

August 23, 2023

Forensic Expert Confirms Forgery Of Buhari’s Signature To Withdraw $26m

Business

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

The suspended Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has settled for a plea bargain following the 20-count charges filed against him by the Federal Government. Emefiele was expected to appear in court on Wednesday, however, the suspended bank

August 23, 2023

Business·Oil & Gas

IPMAN Asks FG To Partner With Illegal Refinery Operators In Creeks

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has advised the Federal Government to take advantage of the technology used by illegal refineries. According to the Chairman of IPMAN’s Enugu Depot Community, Chinedu Anyaso, Nigeria’s refining challenges could be resolved with the

August 23, 2023

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Fakoyejo Olalekan

CBN Reveals JP Morgan’s Intention After Report On Nigeria’s Foreign Reserves

FTN Cocoa, Redstar Express, Others Drag Stock Market Cap Down By N49.80bn

Nigeria’s Unemployment Falls To 4.1% In Q1 2023, More Male Unemployed

2years Of BDC Ban: Dollar Hoarders Made Whopping 80% Gain From Emefiele’s Infamous Decision

Black Market, Official Window Dollar Rates’ Gap Widens To N127 After BDCs Hike USD Price

Ikeja Hotel Puts 40% Of Company Up For Sale Amid Declining Revenue

ABC Heads Gainers’ List, Conoil Disappoints, As Stock Market Records Sluggish Growth

Nigeria’s Capital Market Authority Mulls Dollar-denominated Bond, Stock Listings

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

IPMAN Asks FG To Partner With Illegal Refinery Operators In Creeks

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