Fakoyejo Olalekan

Investors Gain Over N17.74 billion In TransCorp, IB, Other Shares

The market capitalisation of the Nigerian bourse rose to N27.87 trillion on Wednesday, 19 April 2023, with investors pocketing N17.74 billion. Prime Business Africa learnt that the equity capitalisation appreciated by 0.06 per cent from the N27.85 trillion reported on Tuesday, 18

April 19, 2023

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

Business·Currency

Black Market Dollar Rate Now N291.75kobo Above Official Market, Pound Hits N950

The gap between the black market and the official window in the foreign exchange (Forex) market is ₦291.75 kobo according to the Forex data obtained by Prime Business Africa on Wednesday, 19 April 2023. According to Bureau De Change operators who spoke

April 19, 2023

Business·Currency

Cash In Circulation Up By N701.4 billion, Emefiele’s CBN Loses Control Again

The Central Bank of Nigeria (CBN) has revealed that the currency in circulation increased by N701.4 billion within one month. According to the central bank’s money and credit statistics, the currency in circulation rose to N1.6 trillion in March 2023, from N982.09

April 19, 2023

Business

China Reacts As Report Of Financing Terrorism In Nigeria Emerges

The Chinese government said it doesn’t finance terrorism in Nigeria in exchange for mineral resources as claimed by The Times in a report. According to the report, some Chinese in Northern Nigeria bribe militants in the country for access to vast mineral reserves,

April 19, 2023

Business·Oil & Gas

Oil Theft: Shell Discovers 460 Illegal Connections To Its Trans Niger Pipeline

Chairman of Shell Companies in Nigeria, Osagie Okunbor, said the oil and gas company discovered 460 illegal connections on its Trans Niger Pipeline. Prime Business Africa understands that the Trans Niger Pipeline is connected to oil fields in Rivers and parts of

April 19, 2023

Naira Ends Week With Marginal Gain Against Dollar

Business·Currency

Dollar Falls To Naira, Forex Supply Drops Significantly

The Naira fought back against the Dollar on Monday, 17 April 2023, gaining 0.37 per cent in value, as the cost of the United States currency dropped by ₦1.75 kobo in the official market. At the end of trading on Monday, the

April 18, 2023

Business

Aviation Workers’ Strike Will Cause Hardship, Economic Losses – Aviation Ministry

The Minister of Aviation has spoken against the ongoing strike by five unions in the aviation industry, stating that the industrial action would increase hardship in the country. In a statement released on Monday by the Head of Press and Public Relations

April 18, 2023

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

Business

World Bank Says CBN’s Naira Redesign Policy Affects Poverty Reduction In Nigeria

The World Bank said the Naira redesign policy of the Central Bank of Nigeria (CBN) hampered the growth of Nigeria’s economy. According to the financial body, the CBN’s Naira redesign policy has frustrated the effort to reduce poverty in Nigeria, where about

April 18, 2023

Nigerian Gov’t Spends N96 Out Of Every N100 To Pay Debt - World Bank Says, Reveals Impact

Business

Nigerian Gov’t Spends 96% Of Revenue To Service Debts- World Bank Reveals Impact

The World Bank said the Nigerian government spent 96.3 per cent of its revenue on servicing debt in 2022, indicating the country has a revenue and debt problem. This means for every N100 generated by the government, N96 is used to repay

April 18, 2023

Business·Markets

Over N421.07 billion Lost By Investors In MTN Nigeria, Transcorp Hotels, Others

With over N421.07 billion lost on Monday, 17 April 2023, the Nigerian stock market capitalisation dwindled from N28.26 trillion reported on Friday, 14 April, to N27.84 trillion. The All-Share Index shrank by 773 basis points, dropping from 51,893.94 ASI to 51,120.94 ASI. At

April 17, 2023

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Fakoyejo Olalekan

Investors Gain Over N17.74 billion In TransCorp, IB, Other Shares

Black Market Dollar Rate Now N291.75kobo Above Official Market, Pound Hits N950

Cash In Circulation Up By N701.4 billion, Emefiele’s CBN Loses Control Again

China Reacts As Report Of Financing Terrorism In Nigeria Emerges

Oil Theft: Shell Discovers 460 Illegal Connections To Its Trans Niger Pipeline

Dollar Falls To Naira, Forex Supply Drops Significantly

Aviation Workers’ Strike Will Cause Hardship, Economic Losses – Aviation Ministry

World Bank Says CBN’s Naira Redesign Policy Affects Poverty Reduction In Nigeria

Nigerian Gov’t Spends 96% Of Revenue To Service Debts- World Bank Reveals Impact

Over N421.07 billion Lost By Investors In MTN Nigeria, Transcorp Hotels, Others

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