Fakoyejo Olalekan

Ardova Investors To Earn N16.8 billion, As Billionaire Plans Takeover

Ignite Investments & Commodities Limited has informed Ardova investors that the majority shareholder is willing to buy their stake for N17.38 per share to take the company private. In a statement dated 6 February 2023, Ardova said Ignite Investments has made its

February 7, 2023

Business·Markets

Equity Investors Make N90 billion, As Stock Market Closes High

Nigerian stock exchange closed with N90 billion gain on Monday, 6 February 2023, as the market capitalisation increased from N29.52 trillion to N29.61 trillion. The All-Share Index gained 154.65 basis points on Monday to rise from 54,213.09 ASI to 54,367.74 ASI. Investors traded N4.79 billion for

February 6, 2023

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

Business

Nigerians Divided Over Who To Blame For CBN’s Naira Redesign Crisis

Nigerians are divided over who to blame for the crisis that has erupted from the transition from the old Naira to the redesigned banknotes. Prime Business Africa reported that Nigerians are stripping themselves in banking halls and protesting against banks due to

February 6, 2023

Business·Oil & Gas

Peter Obi Says Oil Industry Can Reduce Sufferings Of Nigerians, Reveals How

The Labor Party’s presidential candidate, Peter Obi, has revealed the oil industry can aid in reducing the suffering of Nigerians. Obi said ensuring Nigeria is dependent on local refineries will reduce the negative impact of fuel scarcity and the high cost of

February 6, 2023

Sterling Bank, AATIF Raise $15m To Fund Renewable Energy-powered Agro-enterprises

Business

Sterling Bank Accused Of Hoarding New Naira Notes, Faces CBN Penalty

Sterling Bank has been accused by the Central Bank of Nigeria (CBN) of breaching the financial regulator’s directive by hoarding the new Naira banknotes from the public. In a trending video, about N6 million of the redesigned currencies were said to have

February 6, 2023

Why Foreign Investments In Nigerian Startups Dropped By 65%

Business·Insights·Startup·Technology

Why Flutterwave, Paystack, Other Nigerian Tech Startups Are Snubbing Nigeria For US

In 2019, Nigerians were shocked when the African-based e-commerce platform, Jumia, described their online marketplace as a German company. Jumia erased the thought among Nigerians that the firm is a Nigerian or even African firm as it seeks foreign investment through Initial

February 6, 2023

Business·Currency

Prime Business Africa Hosts Twitter Space To Discuss CBN’s Naira Debacle

As Nigerians suffer the ripple effect from the Central Bank of Nigeria’s (CBN) hasty transition from the old Naira to the redesigned banknotes, Prime Business Africa has organised a Twitter space to shed more light on the Naira debacle. The Twitter space

February 3, 2023

CBN Naira Redesign Policy Deteriorates Business Condition – Stanbic IBTC

2023 Elections·Business·Currency

Old Naira: Buhari, Governors Meet, To Decide On Extension In 7 Days

President Muhammadu Buhari met with Governors of the All Progressive Congress (APC) on Friday, 3, February 2023, over the prolonged scarcity of Naira notes in Nigeria. The governors visited the State House in Abuja to compel President Buhari to override the deadline

February 3, 2023

Naira Appreciates At Official Market As Dollar Supply Rises On Friday

Business·Currency

Dollar Rate Rises As Naira Note Scarcity Hits Nigerian Banks

The Dollar rate appreciated in the official foreign exchange market on Thursday, 2, February 2023, as Nigerian commercial banks struggle to make Naira available to the public. According to data obtained from the FMDQ Exchange, the Naira took a beating, losing –0.11

February 3, 2023

Business

Finance Minister Criticises Moody’s Over Downgrade Rating

The Minister of Finance, Zainab Ahmed, has played down the importance of Moody’s downgrade after the rating agency rated the country’s credit status as a Caa1. Nigeria’s credit rating was B3 before Moody’s downgraded the status to Caa1 citing a weak business

February 3, 2023

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Fakoyejo Olalekan

Ardova Investors To Earn N16.8 billion, As Billionaire Plans Takeover

Equity Investors Make N90 billion, As Stock Market Closes High

Nigerians Divided Over Who To Blame For CBN’s Naira Redesign Crisis

Peter Obi Says Oil Industry Can Reduce Sufferings Of Nigerians, Reveals How

Sterling Bank Accused Of Hoarding New Naira Notes, Faces CBN Penalty

Why Flutterwave, Paystack, Other Nigerian Tech Startups Are Snubbing Nigeria For US

Prime Business Africa Hosts Twitter Space To Discuss CBN’s Naira Debacle

Old Naira: Buhari, Governors Meet, To Decide On Extension In 7 Days

Dollar Rate Rises As Naira Note Scarcity Hits Nigerian Banks

Finance Minister Criticises Moody’s Over Downgrade Rating

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