Fakoyejo Olalekan

Stock Market Hit N28.64 trillion Amid Rush For Conoil, Transcorp Shares

The stock market in Nigeria closed with N28.62 trillion market capitalisation on Tuesday, 9 May, against the N28.64 trillion reported on Monday, 8 May – it grew by 0.04 per cent or N14.09 billion. The All-Share Index inched higher from 52,579.52 ASI to 52,605.41

May 9, 2023

Naira Appreciates To N869/$1 As Experts Debate Stability

Business·Currency

Dollar Remains Strong Against Naira As Dangote Refinery Set To Free Up Forex

The exchange rate between the Naira and the Dollar settled at ₦462.78/$1 on Monday, 8 May, in the official market, which is backed by the Central Bank of Nigeria (CBN). At the end of trading, the United States currency increased in value

May 9, 2023

Business

Tony Elumelu Rejects Femi Otedola’s N250 billion To Buy Transcorp Plc

The Chairman of Geregu Power, Femi Otedola, has revealed that he offered to buy Transnational Corporation (Transcorp) Plc for N250 billion. Otedola, on Tuesday, said his offer was rejected despite planning to help unlock Transcorp’s full potential and create value for shareholders

May 9, 2023

Business

Femi Otedola Alleges Tony Elumelu Backstabbed Him, Took Over His UBA, Transcorp Investments

Femi Otedola has accused Tony Elumelu of double-crossing him in deals involving United Bank for Africa (UBA) and Transnational Corporation (Transcorp). He disclosed that Elumelu betrayed him on multiple occasions. Otedola explained that he financially assisted Elumelu to acquire UBA in 2005.

May 9, 2023

Court Makes New Ruling On Titan Trust's Acquisition Offer To Union Bank's Minority Investors

Business

Union Bank Shareholders Receive N12.18bn Offer To Sell Stake To Titan Trust Bank

Titan Trust Bank Limited, the majority investor in commercial bank, Union Bank of Nigeria (UBN) Plc, has revealed its plan to acquire 100 per cent of the financial institution. Currently, Titan Trust Bank owns a 94.5 per cent controlling stake in Union

May 9, 2023

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

Business·Markets

Access Corp, FBN Holdings Top Trade, Stock Market Up N62.18 billion

The equity capitalisation of the Nigerian bourse increased by 0.21 per cent or N62.18 billion on Monday, 8 May, to close at N28.62 trillion, up from N28.56 trillion. The All-Share Index gained 114.21 basis points to rise from 52,465.31 ASI to 52,579.52 ASI. Investors

May 8, 2023

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

Business·Currency

Naira To Dollar Rate Closes At N462.23, Foreign Exchange Supply Up By $19.86 million

The Naira and Dollar exchange rate settled at ₦462.23 kobo/$1 at the close of business in the official market on Friday, 5 May 2023. This represents a 0.14 per cent increase in the value of the Naira and ₦0.65 kobo drop in

May 8, 2023

Dangote Cement GMD Defends Company's Prices After Criticism

Business·Oil & Gas

Nigeria’s Fuel Landing Cost To Drop By N20.7bn After Dangote Refinery Launch – Buhari

President Muhammadu Buhari will commission Dangote Refinery on 22 May 2023 before the end of his administration and the removal of the fuel subsidy in June. This was disclosed by Bashir Ahmad, the Special Assistant on Digital Communications to President Buhari, in

May 8, 2023

Fuel Stations To Increase Petrol Price To Over N700, Oil Marketers Give Reasons

Business·Oil & Gas

Dollar Scarcity, Six Other Factors To Increase Fuel Price To N1,700 Per Litre

The President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PPROOAN), Billy Gillis-Harry, has revealed that scarcity of Dollars in the official market and crude oil cost could push fuel price to N1,700 after the subsidy is removed in June.

May 8, 2023

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

Business

BUA Foods MD, Lafarge CEO Lament CBN’s Naira Redesign Policy Impact On Operation

The Managing Director of BUA Foods, Ayodele Abioye, and the Chief Executive Officer of Lafarge Africa, Khaled El Dokani, lament about the Naira redesign policy of the Central Bank of Nigeria (CBN). Abioye and El Dokani listed the CBN’s Naira redesign policy

May 8, 2023

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Fakoyejo Olalekan

Stock Market Hit N28.64 trillion Amid Rush For Conoil, Transcorp Shares

Dollar Remains Strong Against Naira As Dangote Refinery Set To Free Up Forex

Tony Elumelu Rejects Femi Otedola’s N250 billion To Buy Transcorp Plc

Femi Otedola Alleges Tony Elumelu Backstabbed Him, Took Over His UBA, Transcorp Investments

Union Bank Shareholders Receive N12.18bn Offer To Sell Stake To Titan Trust Bank

Access Corp, FBN Holdings Top Trade, Stock Market Up N62.18 billion

Naira To Dollar Rate Closes At N462.23, Foreign Exchange Supply Up By $19.86 million

Nigeria’s Fuel Landing Cost To Drop By N20.7bn After Dangote Refinery Launch – Buhari

Dollar Scarcity, Six Other Factors To Increase Fuel Price To N1,700 Per Litre

BUA Foods MD, Lafarge CEO Lament CBN’s Naira Redesign Policy Impact On Operation

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