Fakoyejo Olalekan

Ardova Suffers Investor Apathy, Oil Firm’s Shareholders Lose Investments

On Monday, 6 February 2023, Ardova announced that its majority investor, Ignite Investments & Commodities Limited, has offered to buy out its minority shareholders. Ignite Investments tabled N17.38 per share offer to purchase 970.7 million units of shares in the hands of

February 13, 2023

Council Of State Tenders Two Solutions To Nigeria's Naira Scarcity Issue

Business

UPDATED: Print New Notes Or Release Old Naira – State Council

The Council of State has urged the Federal Government and the Central Bank of Nigeria (CBN) to either print more new Naira notes or recirculate the old banknotes. Members of the Council of State, which advises government on key policies, are former

February 10, 2023

Business

Old Naira Deadline: FG Bows To Supreme Court Order, CBN Keeps Mum

The Federal Government has stated that it will obey the ruling of the Supreme Court, as it makes plan to get the order set aside on Wednesday, 15 February 2023. According to the Attorney General of the Federation and Minister of Justice,

February 10, 2023

Business

Akeredolu, Ganduje Sue FG, As Battle Against CBN’s Naira Redesign Policy Intensifies

Ondo State Governor, Rotimi Akeredolu, and the Governor of Kano State, Abdullahi Ganduje, have also filed a suit against the Federal Government over the Central Bank of Nigeria’s (CBN) Naira redesign policy. Akeredolu approached the Supreme Court to debate the legality of

February 10, 2023

KPMG Makes Naira Projection After Foreign Capital Importation Drops To $1.06 billion

Business

Naira Scarcity: Nigerians Have Been Betrayed By Banking System – TUC Says, Threatens FG

The Trade Union Congress (TUC) said Nigerians have been betrayed by the banking system due to the failure of the Central Bank of Nigeria (CBN) to successfully implement the Naira redesign policy. TUC said commercial banks have been unable to pay Nigerians

February 10, 2023

Governor of Nigerias Central Bank Godwin Emefiele

Business

Godwin Emefiele’s CBN Faults Nigerians For Naira Scarcity

Nigerians have been faulted for the scarcity of the Naira notes, as the Central Bank of Nigeria (CBN) said releasing more banknotes won’t solve the situation. The apex bank said Nigerians need to change their attitude as they are behind the scarcity

February 10, 2023

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

Business·Markets

Redstar Express Leads Gainers, Glaxo Smith Tops Losers, As Stock Market Loses N36.57 billion

The equity capitalisation of the Nigerian stock market fell to N29.60 trillion on Thursday, 9 February 2023. It depreciated by -0.12 per cent from the N29.64 trillion recorded on Wednesday, losing N36.57 billion. Also, the All-Share Index lost 67.15 basis points from the

February 9, 2023

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

Business·Currency·News

Black, Official Market Dollar Rate Gap Drops On S’Court Order

The gap between the dollar-naira rates in black and official windows dropped on Thursday, but stayed close to N300. In the black market on Thursday, Bureau De Change operators informed Prime Business Africa that they offer an exchange rate between N760-N780/$1 for

February 9, 2023

Fuel Stations To Increase Petrol Price To Over N700, Oil Marketers Give Reasons

Business·Oil & Gas

Oil Marketers Defy FG’s Fuel Price Tag, As NNPC Needs N4.27trn To Keep Price Low

Some members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) are still selling fuel above the government-agreed price. Prime Business Africa on Wednesday gathered that filling stations of independent oil marketers were selling fuel at a range between N300 and N330

February 9, 2023

Business

UPDATED: IMF, World Bank Warn CBN On Naira Transition Timeframe

The International Monetary Fund (IMF) and the World Bank have cautioned the Central Bank of Nigeria (CBN) over its handling of the transition from the old Naira to new banknotes. Nigeria’s financial regulator announced in October 2022 that the N200, N500 and

February 9, 2023

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Fakoyejo Olalekan

Ardova Suffers Investor Apathy, Oil Firm’s Shareholders Lose Investments

UPDATED: Print New Notes Or Release Old Naira – State Council

Old Naira Deadline: FG Bows To Supreme Court Order, CBN Keeps Mum

Akeredolu, Ganduje Sue FG, As Battle Against CBN’s Naira Redesign Policy Intensifies

Naira Scarcity: Nigerians Have Been Betrayed By Banking System – TUC Says, Threatens FG

Godwin Emefiele’s CBN Faults Nigerians For Naira Scarcity

Redstar Express Leads Gainers, Glaxo Smith Tops Losers, As Stock Market Loses N36.57 billion

Black, Official Market Dollar Rate Gap Drops On S’Court Order

Oil Marketers Defy FG’s Fuel Price Tag, As NNPC Needs N4.27trn To Keep Price Low

UPDATED: IMF, World Bank Warn CBN On Naira Transition Timeframe

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