Fakoyejo Olalekan

Stock Market Cap Increases By N10 billion Amid Gains In Oando, Transcorp

Over N10 billion was added to the stock market capitalisation on Monday, lifting the Nigerian bourse’s valuation to N28.44 trillion. During the previous trading session, the market capitalisation had closed at N28.43 trillion. This means the valuation rose slightly by 0.03 per cent.

May 15, 2023

10 Nigerian States With Highest Food Inflation In June 2025

Business

NBS Report Shows Nigeria’s Inflation Rate Hits 22.22%, Reveals Reasons For Increase

The National Bureau of Statistics (NBS) has disclosed that the headline inflation rate in Nigeria rose to 22.22 per cent in April 2023, against the 22.04 per cent reported in March. This was revealed in the NBS Consumer Price Index (CPI) report

May 15, 2023

Naira Appreciates At Official Market As Dollar Supply Rises On Friday

Business·Currency

Black Market Operators Buy Dollar At N738, Pound N920, As Official Market Rate Drops

The Dollar was offered to traders in the official market at the rate of N462.33/$1 by the close of business on Friday, 12 May. This is lower than the N462.73/$1 investors and exporters bought the United States Dollar last week Thursday, 11

May 15, 2023

Business

DMO Boss Blames Buhari, Former Presidents For Increase In Budget Deficits

The Debt Management Office (DMO) said Nigeria’s rising debt profile is due to the increase in the government’s budget deficits and inability to grow revenue. According to the Director-General of DMO, Patience Oniha, the country’s budget deficit has increased from N1.62 trillion

May 15, 2023

Business

Elumelu’s Wife Pays N5.34bn For Transcorp Shares, Family Now Controls 35.8% Of Transcorp

Dr. Awele Elumelu, the wife of Tony Elumelu, the Chairman of Transnational Corporation (Transcorp) Plc, has acquired a significant stake in the company. She bought 2.06 billion shares of Transcorp Plc, which hand her a 5.07 per cent stake in the firm

May 15, 2023

Nigeria’s Crude Oil Production Surges To 1.3mbpd

Business·Oil & Gas

OPEC’s Direct, Secondary Sources Disagree Over Africa’s Largest Crude Oil Producer

The Organisation of Petroleum Exporting Countries (OPEC) has revealed that Angola is now the largest crude oil producer in Africa based on direct communications. According to the Monthly Oil Market Report – May 2023, which covers the month of April, obtained from

May 12, 2023

Business

Transcorp Shareholders Lose N30.89 billion To Femi Otedola’s Exit

Femi Otedola’s exit from Transnational Corporation (Transcorp) has cost the company’s shareholders -24.35 per cent of their investments. After reports circulated on Friday, 28 April, that Otedola is no longer a shareholder at Transcorp Plc, the firm’s share halted its bullish run.

May 12, 2023

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

Business·Currency

Traders Pay More For Forex As Dollar Rate Rises In Official, Black Markets

The Dollar was sold at N462.73 kobo on the official foreign exchange market and N745/$1 in the black market on Thursday, 11 May. Traders saw the Naira they exchanged for the Dollar depreciate by 0.06 per cent in value, as the price

May 12, 2023

Business·Oil & Gas

Seplat Accuses Petitioners Of Trying To Prevent Board From Eliminating Related Party Transactions

Seplat Energy has accused the persons behind several lawsuits against the firm of trying to stop the oil and gas firm from eliminating related party transactions. The board of Seplat had said this while addressing an alleged interim court order against the

May 12, 2023

Technology

Elon Musk Appoints First Female Social Media CEO To Head Twitter

Elon Musk, the majority shareholder and the current Chief Executive Officer of Twitter, has disclosed that he will employ the first female CEO of a major social media organisation. Musk said he has found his replacement as chief executive officer but didn’t

May 12, 2023

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Fakoyejo Olalekan

Stock Market Cap Increases By N10 billion Amid Gains In Oando, Transcorp

NBS Report Shows Nigeria’s Inflation Rate Hits 22.22%, Reveals Reasons For Increase

Black Market Operators Buy Dollar At N738, Pound N920, As Official Market Rate Drops

DMO Boss Blames Buhari, Former Presidents For Increase In Budget Deficits

Elumelu’s Wife Pays N5.34bn For Transcorp Shares, Family Now Controls 35.8% Of Transcorp

OPEC’s Direct, Secondary Sources Disagree Over Africa’s Largest Crude Oil Producer

Transcorp Shareholders Lose N30.89 billion To Femi Otedola’s Exit

Traders Pay More For Forex As Dollar Rate Rises In Official, Black Markets

Seplat Accuses Petitioners Of Trying To Prevent Board From Eliminating Related Party Transactions

Elon Musk Appoints First Female Social Media CEO To Head Twitter

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