Fakoyejo Olalekan

DSS warns Against Breakdown Of Law, Order After March 18 Polls

DSS To Track Cross-border Fuel Smuggling, As 270 Filling Stations Shut Down

The Federal Government shut down over 270 filling stations amid scarcity of Premium Motor Spirit (PMS) and a hike in pump prices across several retailers. According to the government on Thursday, the petrol stations shut down were clamped down on for inflating

February 3, 2023

Business

Finance Minister Likens Hardship Caused By Old Naira Deadline To Injury

The Minister of Finance, Zainab Ahmed, has described the current distress experienced by Nigerians due to the unavailability of the redesigned Naira as a sore that would eventually be cured. Ahmed said the Federal Government is worried about the struggle among Nigerians

February 2, 2023

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

Business·Markets

MRS Leads Gainers’ List, Sunu Tops Losers, As Stock Investors Gain N271.49 billion

Nigerian bourse closed above the N29.13 trillion market capitalisation reported on Wednesday, 1, February 2023, as it gained N271.49 billion during trading on Thursday, 2, February, 2023, to rise to N29.41 trillion. Also, the All-Share Index appreciated by 498.44 basis points from 53,499.68 ASI

February 2, 2023

Call CBN to arrest POS agents selling naira notes

Business

Old Naira: PoS Operators, Market Women Risk Jail Term, As CBN Threatens Arrest

The Godwin Emefiele-led Central Bank of Nigeria (CBN) has warned that the financial regulator will start arresting persons selling the Naira notes. In a circular released on Thursday, 2, February 2023, the central bank said it learnt that persons are hawking and

February 2, 2023

Business

CBN Sets Limit For GTBank, Zenith Bank, Others On New Naira Withdrawal

The Central Bank of Nigeria (CBN) has instructed Guaranty Trust Bank (GTBank), Zenith Bank, and other commercial banks to start distributing the redesigned Naira notes over the counter. Recall that the central bank had halted the withdrawal of the new Naira notes

February 2, 2023

Business

Moody’s Says Its Highly Risky To Invest In GTBank, Fidelity Bank, 7 Others

Guaranty Trust Bank (GTBank), Access Bank Plc, First Bank of Nigeria (FBN) and six other commercial banks have been downgraded by the international rating agency, Moody’s. Moody’s, which assesses investment risk in countries and companies, said it has downgraded the investment or

February 2, 2023

Business·Markets

Guinness, Ardova Shareholders Report Loss, As Seplat, NAHCO, Others Gain Big

About N142.16 billion was gained in the Nigerian stock market on Wednesday, 1, February 2023, after the bourse’s equity capitalisation rose from N28.99 trillion to N29.13 trillion. Similarly, the All-Share Index rose from 53,238.67 ASI to 53,499.68 ASI, rising by 261.01 basis

February 1, 2023

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

Business·Currency

Dollar Rate Falls By 0.80% In Bureau De Change Window

The exchange rate depreciated in the Bureau De Change window of the black market on Wednesday, 1, February 2023, after the Central Bank of Nigeria (CBN) confirmed banks will continue to receive old Naira after the phase-out deadline. Naira appreciated by 0.80

February 1, 2023

The Nigeria Ports Authority (NPA), the Nigeria Customs Service (NCS) and three other agencies have been accused of illegal auction of Federal Government properties.

Business

Pres. Buhari’s Request To Restructure CBN Loan Suspended Again

The House of Representatives has stated that it will not restructure some of the loans obtained by President Muhammadu Buhari from the Central Bank of Nigeria (CBN) until more information has been provided. President Buhari obtained the loan under the CBN’s ‘Ways

February 1, 2023

Business

Nigeria’s GDP At Risk, As Transition From Old Naira To New Affects 2 Major Sectors

The founder of the Centre for the Promotion of Private Enterprise (CPPE), Muda Yusuf, said sectors driven by cash are struggling with the transition from old Naira notes to redesigned banknotes. Yusuf identified the distributive trade sector and the agricultural sector as two

February 1, 2023

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Fakoyejo Olalekan

DSS To Track Cross-border Fuel Smuggling, As 270 Filling Stations Shut Down

Finance Minister Likens Hardship Caused By Old Naira Deadline To Injury

MRS Leads Gainers’ List, Sunu Tops Losers, As Stock Investors Gain N271.49 billion

Old Naira: PoS Operators, Market Women Risk Jail Term, As CBN Threatens Arrest

CBN Sets Limit For GTBank, Zenith Bank, Others On New Naira Withdrawal

Moody’s Says Its Highly Risky To Invest In GTBank, Fidelity Bank, 7 Others

Guinness, Ardova Shareholders Report Loss, As Seplat, NAHCO, Others Gain Big

Dollar Rate Falls By 0.80% In Bureau De Change Window

Pres. Buhari’s Request To Restructure CBN Loan Suspended Again

Nigeria’s GDP At Risk, As Transition From Old Naira To New Affects 2 Major Sectors

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