Fakoyejo Olalekan

Sell-Off in Wema Bank, Chams, Others Cost Stock Investors N35.66 billion

The market capitalisation of the Nigerian bourse settled at N30.35 trillion after trading hours on Tuesday, 14 March 2023. Investors lost N35.66 billion when today’s equity capitalisation is compared to the N30.39 trillion recorded the previous day. This was after the All-Share

March 14, 2023

Naira Opens Week With Gain Across FX Markets

Business·Currency

Naira Depreciates, As Several Factors Support Rise In Dollar Rate

The value of the Naira depreciated further in the official market on Monday, 13 March 2023, as the United States Dollar strengthened in the foreign exchange (forex) market. At the close of trading, it costs N461.67/$1 to exchange both currencies in the

March 14, 2023

Business

CBN Places Service Restriction On PoS Agents Across Nigeria

The Central Bank of Nigeria (CBN) has reiterated some operations that mobile banking agents are not allowed to offer, as their population increases across the country. In an Exposure Draft of the Regulatory Framework for Agent Banking in Nigeria, the CBN said

March 14, 2023

Business

Silicon Valley Bank UK Subsidiary Acquired By HSBC

Silicon Valley Bank’s UK operations have been acquired by Hongkong and Shanghai Banking Corporation Limited (HSBC), preventing contagion from its parent company in the United States. The deal between Hongkong and Shanghai Banking Corporation Limited and Silicon Valley Bank’s UK subsidiary was

March 14, 2023

CBN Denies Discriminating Against People With Physical Disabilities Seeking Job

Business

CBN Finally Addresses Supreme Court Order Publicly, Succumbs To Pressure On Old Naira

The Godwin Emefiele-led Central Bank of Nigeria (CBN) has succumbed to the Supreme Court order which states that old N500 and N1,000 remains legal for 10 months. In a statement released by the central bank’s Director of Communication, Isa Abdulmumin, it was

March 14, 2023

Nigeria Govt Finally Secures Access To Heathrow Airport For Air Peace

Business

Passengers Can Only Fly Aircraft Our CEO Can Travel In – Air Peace’s Legal Counsel

Head of the Legal Department at Air Peace, Ikechukwu Ugorji, has stated that an aircraft Allen Onyema, the founder of the airline, cannot travel in will not be made available to passengers. Ugorji made this known while speaking exclusively to Prime Business

March 13, 2023

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

Business·Markets

Nigerian Stock Market Cap Drops N3.34 billion

Nigerian bourse depreciated by N3.34 billion after the trading session on Monday, 13 March 2023, to close at N30.391 trillion from N30.394 trillion. This was after the All-Share Index depreciated by -0.01 per cent or 6.14 basis points, as the ASI settled

March 13, 2023

Naira Appreciates At Official Market As Dollar Supply Rises On Friday

Business·Currency

Naira Weakens, Dollar Rate Rises In Official Market

Traders and investors exchanged the Naira and Dollar at N461.50/$1 on Friday, 10 March 2023, the FMDQ Exchange data has disclosed. The foreign exchange (Forex) rate rose from N461.00/$1 reported on Thursday, 9 March 2023, indicating the Naira depreciated by -0.11 per

March 13, 2023

Governor of Nigerias Central Bank Godwin Emefiele

Business

Emefiele Directs Bank CEOs To Start Accepting, Disbursing Old Naira Notes

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has directed the Chief Executive Officers of Deposit Money Banks (DMBs) to start accepting and paying out the old Naira notes. This was revealed by the governor of Anambra state, Chukwuma

March 13, 2023

Breaking: CBN Tell Banks To Increase Interest Rate On Loan, Set MPR At 18.5%

Business

CBN’s Emefiele Addresses N500m Support For Labour Party Against Tinubu, Sanwo-Olu

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has denied plotting against President-elect, Bola Tinubu. Reports had circulated earlier on Monday, alleging that the central bank head is working with an unnamed retired general, who is described as a billionaire.

March 13, 2023

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Fakoyejo Olalekan

Sell-Off in Wema Bank, Chams, Others Cost Stock Investors N35.66 billion

Naira Depreciates, As Several Factors Support Rise In Dollar Rate

CBN Places Service Restriction On PoS Agents Across Nigeria

Silicon Valley Bank UK Subsidiary Acquired By HSBC

CBN Finally Addresses Supreme Court Order Publicly, Succumbs To Pressure On Old Naira

Passengers Can Only Fly Aircraft Our CEO Can Travel In – Air Peace’s Legal Counsel

Nigerian Stock Market Cap Drops N3.34 billion

Naira Weakens, Dollar Rate Rises In Official Market

Emefiele Directs Bank CEOs To Start Accepting, Disbursing Old Naira Notes

CBN’s Emefiele Addresses N500m Support For Labour Party Against Tinubu, Sanwo-Olu

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