Fakoyejo Olalekan

Investment Analysts Address Effect Of Obi, Atiku’s Court Battle On Nigeria’s Economy

Peter Obi and Atiku Abubakar, the presidential candidates of the Labour Party and Peoples Democratic Party (PDP) have hired at least 39 Senior Advocates of Nigeria (SAN) to counter the declaration of Bola Tinubu as the President-elect. Prime Business Africa had reported

March 8, 2023

Business

Peter Obi, Nigerians React, Police Investigates Akere Spare Parts’ Fire Outbreak

The Lagos State Police Command Public Relations Officer, Benjamin Hundeyin, has revealed that an investigation into the fire that engulfed Akere Spare Parts Market is ongoing. According to Hundeyin, the body of a 65-year-old security guard was discovered at the scene, however, it was

March 8, 2023

Business

FG Requests For Reversal Of $11 billion P&ID Judgement

The London High Court judgement against Nigeria in the case against Process and Industrial Developments (P&ID) has been contested by the Federal Government. Recall that the court had awarded P&ID a sum that has now increased to $11 billion due to accrued

March 8, 2023

Business·Oil & Gas

Election: Oil Marketers Reveal Fuel Movement Stopped Over Fear Of Crisis

The National Vice President, Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, said the fuel scarcity in the country is driven by fear of electoral violence. Maigandi disclosed that oil marketers in the Northern states of Nigeria have suspended their journey

March 8, 2023

Breaking: CBN Raises Interest Rate To 18.75%

Business

CBN Defends Anchor Borrowers’ Programme After IMF Criticism

The Central Bank of Nigeria (CBN) on Monday, 7 March 2023, countered the statement of the International Monetary Fund (IMF) over the Anchor Borrowers’ Programme (ABP). IMF had stated that the Anchor Borrowers’ Programme is experiencing bad debt, with only 24 per

March 8, 2023

Eight Controversial Decisions By Godwin Emefiele As CBN Governor

Business

CBN Quietly Approves Old Naira Disbursement, Traders Reject Banknotes

The Central Bank of Nigeria (CBN) has approved the disbursement of old N500 and N1,000 notes, as Deposit Money Banks’ (DMBs’) Automated Teller Machines (ATMs) begin to dispense the bank notes. The commercial banks had not been disbursing old Naira notes since

March 7, 2023

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

Business·Markets

Stock Market Cap Falls, Transcorp, Zenith Bank Make Top Trade List

About N6.96 billion was wiped off the Nigerian stock exchange on Tuesday, 7 March 2023, as the bourse’s capitalisation closed at N30.28 trillion. The market capitalisation depreciated by 0.02 per cent when compared to the N30.29 trillion it settled at a day before.

March 7, 2023

Investors To Buy N150 billion-worth Of FBN Holdings Stake

Business

First Bank’s Gbenga Shobo Exits Firm 2 Years After Leadership Tussle

The Deputy Managing Director of First Bank of Nigeria (FBN), Gbenga Shobo, has retired from the position after joining the board 11 years ago. Shobo retired from the board on 27 February 2023 due to the investment banker approaching the age of

March 7, 2023

Business

MTN Nigeria Borrows N125 billion For Operation Amid Musk’s Starlink Threat

MTN Nigeria has lent N125 billion through Commercial paper issuance, which was overbooked by investors in the securities market. In a corporate document dated 6 March 2023, MTN Nigeria informed the company’s shareholders and the investing public of the money borrowed from

March 7, 2023

NNPCL Denies Inflating Fuel Subsidy Payments

Business·Oil & Gas

Eroton Loses Oilfield Asset To NNPC, Head Office Locked

Eroton Exploration and Production Limited has been removed as operator of the oil mining lease (OML) 18, which it co-owned with the Nigerian National Petroleum Company (NNPC) Limited. The NNPC, the major stakeholder in the oilfield, replaced Eroton Exploration with NNPC Eighteen

March 7, 2023

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Fakoyejo Olalekan

Investment Analysts Address Effect Of Obi, Atiku’s Court Battle On Nigeria’s Economy

Peter Obi, Nigerians React, Police Investigates Akere Spare Parts’ Fire Outbreak

FG Requests For Reversal Of $11 billion P&ID Judgement

Election: Oil Marketers Reveal Fuel Movement Stopped Over Fear Of Crisis

CBN Defends Anchor Borrowers’ Programme After IMF Criticism

CBN Quietly Approves Old Naira Disbursement, Traders Reject Banknotes

Stock Market Cap Falls, Transcorp, Zenith Bank Make Top Trade List

First Bank’s Gbenga Shobo Exits Firm 2 Years After Leadership Tussle

MTN Nigeria Borrows N125 billion For Operation Amid Musk’s Starlink Threat

Eroton Loses Oilfield Asset To NNPC, Head Office Locked

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