Fakoyejo Olalekan

Four NCAA Top Officials Arrested By EFCC Over N2 billion Fraud

Four top officials working for the Nigerian aviation regulator, Nigeria Civil Aviation Authority (NCAA), are under investigation for alleged N2 billion fraud. The Economic and Financial Crimes Commission (EFCC) is investigating the fraud allegation and has arrested the four officials. According to

March 20, 2023

How Loss Of Over $5 Trillion In U.S. Stock Exchange Affects Nigeria

Business·Markets

Stock Market Closes Down, As Ikeja Hotel, Stanbic IBTC Record Losses

On Monday, 20 March 2023, the Nigerian stock exchange closed down by -0.05 per cent, as the market capitalisation lost N15.99 billion. This pushed the equity capitalisation down to N29.89 trillion today, from N29.91 trillion reported on Friday, 17 March 2023. The All-Share

March 20, 2023

Naira Appreciates At Official Market As Dollar Supply Rises On Friday

Business·Currency

Naira Closes High, As Dollar Rate Depreciates

The official exchange rate between the Naira and the Dollar closed down at N461.83 kobo/$1, data obtained from FMDQ Exchange on Monday disclosed. Prime Business Africa gathered that the foreign exchange rate depreciated by N0.17kobo, as the Naira gained 0.03 per cent

March 20, 2023

Business·Oil & Gas

Fear Of Price Hike Forces NNPC To Increase Supply To Oil Marketers

In order to avert a hike in the price of Premium Motor Spirit (PMS), known as fuel, Nigerian National Petroleum Company (NNPC) Limited has increased the supply level to oil marketers. This was revealed by the National Public Relations Officer, the Independent

March 20, 2023

Business

Unilever Nigeria Reiterates Plan To End Vaseline, OMO, Other Home Care, Skin Business

Unilever Nigeria has disclosed that the company intends to sell off its Home Care and Skin Cleansing business, almost a year after selling its tea operation. The company’s Home Care and Skin Cleansing segments include OMO, Vaseline, Lux, Dove, Lifebuoy, and Rexona

March 20, 2023

Bulls Charge Ahead As NGX Shatters Records As Market Cap Surpasses N50trn

Business·Markets

Stock Market Cap Closes At N29.915 trillion, As Bourse Trades Sideways

Nigerian bourse’s capitalisation ended trading on Friday at N29.915 trillion after recording sideways market for some days. The All-Share Index lost 0.22 basis points to close at 54,915.39 ASI, slightly below the 54,915.61 ASI posted a day before when the equity cap

March 17, 2023

Business

MTN Nigeria’s Momo Plans To Merge With Digital Financial Limited

The payment firm of MTN Nigeria, Momo Payment Service Bank Limited, will be merged with Yello Digital Financial Services Limited (YDFS). In a corporate document on Friday, MTN Nigeria said the board of directors are weighing the idea and have proposed it

March 17, 2023

Naira Appreciates To N869/$1 As Experts Debate Stability

Business·Currency

Dollar Rate Rises In Black Market, Drops In CBN’s Official Market

The Dollar rate in the Investors and Exporters window of the official market increased by N0.91 kobo, indicating the Naira depreciated in value by -0.19 per cent on Thursday, 16 March 2023. Following trading hours, the drop in the value of the

March 17, 2023

Financial Obligations Force MTN Nigeria To Borrow N125bn From Commercial Paper Investors

Business

MTN Nigeria Proposes New Dividend Plan To Save Firm’s Retained Earnings

MTN Nigeria’s board of directors have proposed a scrip dividend plan that will see the company’s shareholders convert their dividends into shares instead of cash. The telecommunications company wants shareholders to limit their demand for cash during dividend payments in order to

March 17, 2023

Business

FCMB Group Issues N20.69 billion Series 1 Perpetual 16% Fixed Rate Bond

FCMB Group Plc has successfully completed issuance of a N20,686,000,000 Perpetual 16% Fixed Rate Resettable NC5.25 Additional Tier I Capital Subordinated Bonds (“the Series I Bond” or “the AT1” or “the Instrument”) under its N300 billion Debt Issuance Programme. The Group’s AT1

March 17, 2023

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Fakoyejo Olalekan

Four NCAA Top Officials Arrested By EFCC Over N2 billion Fraud

Stock Market Closes Down, As Ikeja Hotel, Stanbic IBTC Record Losses

Naira Closes High, As Dollar Rate Depreciates

Fear Of Price Hike Forces NNPC To Increase Supply To Oil Marketers

Unilever Nigeria Reiterates Plan To End Vaseline, OMO, Other Home Care, Skin Business

Stock Market Cap Closes At N29.915 trillion, As Bourse Trades Sideways

MTN Nigeria’s Momo Plans To Merge With Digital Financial Limited

Dollar Rate Rises In Black Market, Drops In CBN’s Official Market

MTN Nigeria Proposes New Dividend Plan To Save Firm’s Retained Earnings

FCMB Group Issues N20.69 billion Series 1 Perpetual 16% Fixed Rate Bond

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