Fakoyejo Olalekan

Dangote Cement Investors, Others Lose N341.09 billion In Stock Market

Nigeria’s stock market capitalisation closed with N28.94 trillion on Tuesday, 28 March 2023, losing N341.09 billion from the N29.28 trillion the bourse settled at on Monday, 27 March 2023. The All-Share Index depreciated further to 53,124.63 ASI from the previous day’s 53,750.77

March 28, 2023

Naira Opens Week With Gain Across FX Markets

Business·Currency

Dollar To Naira Rate Hits N461.50kobo In Official Market, Drops In Black Market

The United States Dollar appreciated against the Nigerian currency, Naira, on Monday, 27 March 2023, as the exchange rate closed at N461.50 kobo in the official market. Both currencies had exchanged for N461.33 kobo/$1 last week Friday. This indicates the Naira weakened

March 28, 2023

Stanbic IBTC Fined N159 million For Earnings Misinformation, Hoarding Export Proceeds, Others

Business

Stanbic IBTC In Trouble For Hoarding Export Proceeds, Misinformation On Earnings

For contravening various guidelines, Stanbic IBTC Holdings Plc was slammed with fines by the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC). Stanbic IBTC was also penalised by the National Pension Commission (PenCom), taking the total monetary fine

March 28, 2023

Business·Insights

Nigerians Spend N80.98 billion On Drugs In 2022 – Companies That Benefited From It

Nigerians bought N80.98 billion worth of drugs in 2022, increasing the amount spent in the preceding year by 22.95 per cent, Prime Business Africa learnt. Five companies; Fidson Healthcare, Glaxo Smith Kline, May and Baker, Pharma Deko as well as Morison benefited

March 28, 2023

Nigerian Banks Earn N135.52 Trillion From CBN's Naira Policy, E-Payment

Business

CBN Hands N12.65 billion To 3 Agric Projects

The Central Bank of Nigeria (CBN) has revealed that N12.65 billion was disbursed to three agricultural projects under the Anchor Borrowers’ Programme (ABP) between January and February 2023. Nigeria’s financial regulator said the funding was an intervention to stimulate production and productivity. This

March 27, 2023

Business·Markets

Nigerian Stock Investors Lose N621.99 billion In One Day

Nigerian Exchange Limited, the capital market authority, revealed that the equity capitalisation of the stock market lost N621.99 billion on Monday. It closed at N29.28 trillion market capitalisation, which is -2.08 per cent above last week Friday’s N29.90 trillion. The All-Share Index

March 27, 2023

Business·Technology

Twitter’s Elon Musk Lands In Court Over Stolen Source Code

The owner and Chief Executive Officer of Twitter, Elon Musk, is in court over a breach of the company’s source code, on which the social media firm runs. According to reports on Monday, 26 March 2023, Twitter approached a court on Friday,

March 27, 2023

Naira Ends Week With N59.71 Gain At Official Market

Business

Naira Gains In Official Market Despite Dollar Crunch

The foreign exchange (Forex) rate between Nigeria and the Dollar fell to N461.33 kobo/$1 on Friday, 24 March 2023, as the former appreciated against the latter. Prime Business Africa gathered that the value of the Naira rose by N0.34 kobo or 0.07 per

March 27, 2023

More Calls For Air Peace To Be Designated A Flag Carrier As Airline Increases Routes

Business

Israel Approves Air Peace’s Direct Flight To Boost Business, Connect Pilgrims

Israel has approved direct flights from Nigeria, with Air Peace, owned by Nigerian businessman, Allen Onyema, commencing the non-stop flights from 20 April 2023. The approval was announced by Israel’s Transport Minister, Miri Regev, on Sunday, 26 March 2023, who said the

March 27, 2023

Access Bank Raises N351bn, Emerges First Nigerian Bank To Meet CBN’s N500bn Capital Requirement

Business

Access Bank Receives Approval To Acquire African Banking Corporation In Zambia

The Central Bank of Zambia has given approval to the acquisition of African Banking Corporation Zambia Limited by Access Bank. In a statement released on Friday, 24 March 2023, by Access Holdings Plc, the parent company of Access Bank, it was revealed that

March 24, 2023

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Fakoyejo Olalekan

Dangote Cement Investors, Others Lose N341.09 billion In Stock Market

Dollar To Naira Rate Hits N461.50kobo In Official Market, Drops In Black Market

Stanbic IBTC In Trouble For Hoarding Export Proceeds, Misinformation On Earnings

Nigerians Spend N80.98 billion On Drugs In 2022 – Companies That Benefited From It

CBN Hands N12.65 billion To 3 Agric Projects

Nigerian Stock Investors Lose N621.99 billion In One Day

Twitter’s Elon Musk Lands In Court Over Stolen Source Code

Naira Gains In Official Market Despite Dollar Crunch

Israel Approves Air Peace’s Direct Flight To Boost Business, Connect Pilgrims

Access Bank Receives Approval To Acquire African Banking Corporation In Zambia

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