Fakoyejo Olalekan, Author at Prime Business Africa

Official Market Records Decline In Dollar Rate, Trade Flat In Black Market

Dollar Crashes In Black Market, Maintains Increase In Official Window

FMDQ Exchange reported on Tuesday that the rate of the United States Dollar (USD) increased by N9.2 kobo in the Investors’ and Exporters’ window of the official market. Prime Business Africa learnt that demand pressure dragged the value of the naira down

August 23, 2023

Business

Black Market Dollar Rate Hits N874/$1, Official Window Rate Rises

The naira depreciated in value by 2.94 per cent in the Investors’ and Exporters’ window after the dollar rate rose to N761.32/$1 at the close of trading on Monday. It was learnt that the authorised dealers in the official market increased their asking price

August 22, 2023

Nigerian Stock Market Record Highest Level In 15-years, Equity Cap Up N59.90bn

Business·Markets

Stock Market Cap Increases By N157.58bn, As Investments Rise

Following an increase in investment into the Nigerian stock market on Tuesday, the bourse’s capitalisation appreciated by 0.44 per cent or N157.58 billion. This was disclosed by the Nigerian Exchange Limited (NGX) which showed that the stock market capitalisation closed at N35.84

August 22, 2023

Business·Diaspora

Binance, Others Accused Of Aiding Diaspora Remittances Diversion In Nigeria

The President of the Association of Bureau De Change Operators of Nigeria (ABCON), Aminu Gwadebe, has accused Binance and other unlicensed online platforms of diverting diaspora remittances. Gwadebe said companies like Binance are being used to divert diaspora remittances and operate without

August 22, 2023

Business

Nigeria’s Foreign Reserves Drop 73.5%, Weakens CBN’s Effort To Defend Naira

Nigeria’s foreign reserves stood at $3.7 billion as of the end of 2022, JP Morgan, a US-based financial firm, has revealed. In a recently released report by JP Morgan, titled; ‘Nigeria: Reform pause rather than fatigue,’ the firm said Nigeria’s foreign reserves

August 22, 2023

Business·Currency

Dollar Rate Up In Official Window, Hits N874/$1 In Black Market

The naira depreciated in value by 2.94 per cent in the Investors’ and Exporters’ window after the dollar rate rose to N761.32/$1 at the close of trading on Monday. It was learnt that the authorised dealers in the official market increased their asking price

August 22, 2023

Business

Money Supply In Nigeria Rises By N600bn, Currency In Circulation Drops To N2.59trn

The Central Bank of Nigeria (CBN) has disclosed that the money supply in Nigeria rose by N600 billion or 0.93 per cent to N64.9 trillion in July 2023. According to the financial regulator in its money and credit statistics data, money supply, also

August 22, 2023

Business·Markets

Investors In John Holt, BUA Foods, Others Earn N262.52bn In Stock Trading

After trading ended on Monday, stock market investors holding shares of John Holt and BUA Foods, amongst others recorded a combined gain of N262.52 billion. The gain followed the 0.74 per cent increase in the Nigerian stock market capitalisation, which closed at

August 21, 2023

Business·Oil & Gas

FG Loses N249bn To Decline In Crude Output, Fuel Hike Drops PMS Consumption

In July 2023, Nigeria’s total crude oil production fell to 33.5 million barrels, resulting in about N249 billion or $320.4 million lost last month, worsening the Federal Government’s revenue problem in the oil industry. Nigeria had pumped 37.5 million barrels of crude

August 21, 2023

Insights

Airtel Subscribers: How To Access Airtime, Data, Other Services Using New USSD Codes

As a subscriber of Airtel Nigeria, there are several new Unstructured Supplementary Service Data (USSD) codes needed to access Calls, Data and other services offered by the telecommunications company. Previously, codes like *123# and *123*10# were used to check Airtel airtime and

August 21, 2023

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Fakoyejo Olalekan

Dollar Crashes In Black Market, Maintains Increase In Official Window

Black Market Dollar Rate Hits N874/$1, Official Window Rate Rises

Stock Market Cap Increases By N157.58bn, As Investments Rise

Binance, Others Accused Of Aiding Diaspora Remittances Diversion In Nigeria

Nigeria’s Foreign Reserves Drop 73.5%, Weakens CBN’s Effort To Defend Naira

Dollar Rate Up In Official Window, Hits N874/$1 In Black Market

Money Supply In Nigeria Rises By N600bn, Currency In Circulation Drops To N2.59trn

Investors In John Holt, BUA Foods, Others Earn N262.52bn In Stock Trading

FG Loses N249bn To Decline In Crude Output, Fuel Hike Drops PMS Consumption

Airtel Subscribers: How To Access Airtime, Data, Other Services Using New USSD Codes

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