Fakoyejo Olalekan

CBN Releases Another Around Of $10,000 FX To Each BDC, Mandates Them To Sell At N1,117/$1

Dollar Rate Rises As CBN Finds It Difficult To Supply Forex

The naira couldn’t hold its ground against the dollar on Friday, 13 January 2023, depreciating in value by 0.16 per cent, data from the FMDQ Exchange has shown. According to the data rate aggregator of the official market, it was learnt that

January 16, 2023

IMF Asks Nigeria, Others To Charge VAT, Capital Gains Tax On Crypto Assets

Business

Investment Expert Warns Of More Losses, As Crypto Investors Lose $1.51 trillion

The Chief Executive Officer of SFS Capital Nigeria Limited, Patrick Ilodianya, has warned that cryptocurrency investors will lose the bulk of their investments in the coming years. Ilodianya said cryptocurrency is an exciting innovation, but risky because it is unregulated. He said

January 16, 2023

Nigerian Banks Rely More On Liquidity, As Borrowing From CBN Rises To N19.8trn

Business·Insights

Top 10 Nigerian Banks With Highest Customer Deposits

Over the years, banks have become a safer option for Nigerians to safeguard their funds from robbery or natural disasters like flood that could displace a whole community or fire that could engulf a whole building unannounced. The Nigerian banking system operates

January 16, 2023

NGX: Investors Gain N313bn As ASI Rebound By 0.70%

Business·Markets

Stock Investors Gain N252.52 billion On Total, Berger, Other Shares

Friday’s trading session closed with the market valuation of the Nigerian Stock Exchange rising from N28.34 trillion to N28.60 trillion, after gaining N252.52 billion. The All Share Index also appreciated by 463.63 basis points to 52,048.85 ASI, rising from Thursday’s 52,512.48 ASI. Over

January 13, 2023

Aliko Dangote Spent $18.5 billion To Build Refinery, Owes $2.7 billion Debt

Business·Oil & Gas

Dangote Refinery Gets New Operational Date After 5 Years Postponement

Africa’s richest man, Aliko Dangote, will have his Dangote Oil Refinery commissioned on January 24, 2023, after operation on the refinery was postponed for six years. The refinery was initially scheduled to become operational in 2018. According to a report by Nairametrics,

January 13, 2023

Nigeria's Treasury Bills Surpass N6.6trn In 2023 Amid Economic Headwinds

Business

CBN Fumes As Politicians Mop Up New Naira Notes In Nigerian Banks

Commercial banks in Nigeria risk sanction from the country’s financial regulator, the Central Bank of Nigeria (CBN), for exclusively dishing out the new naira notes politicians. In a statement signed by Benedict Maduagwu, the CBN’s Awka-Anambra State Branch Controller, the financial regulator

January 13, 2023

Naira Vs Dollar: What To Expect This Week (2nd - 6th June 2025)

Business·Currency

Dollar Rate Falls In Official Market, Oil Marketer Blames Forex For Fuel Scarcity

The naira rose in value in the Investors’ and Exporters’ window of the official market on Thursday, January 12, 2023, as the dollar fell by -0.16 per cent in value. At the end of trading in the official channel backed by the

January 13, 2023

Access Bank Obtains Central Bank of Angola’s Approval To Acquire 80% of Finibanco

Business

Access Holdings Pulls Out Of Sidian Bank Acquisition, As Both Firms Disagree On Conditions

Access Holdings, the parent company of Access Bank, has announced it will no longer go ahead with the acquisition of Sidian Bank Limited from Kenyan-based Centum Investment Plc. The Nigerian creditor had disclosed in June 2022 that it was in discussion with

January 13, 2023

Business·Currency

Black Market Operators Offer To Buy Dollar Above CBN’s Official Market Rate

The Bureau De Change operators retained the exchange rate between the naira and the dollar in the black market at N288 above that of the official market. According to some Bureau De Change operators that spoke with Prime Business Africa on Thursday,

January 12, 2023

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

Business·Markets

Stock Market Gains N173.73bn Amid Low Demand For Abbey Mortgage, Others

The market capitalisation grew by 0.61 per cent or N173.73 billion gain on Thursday, as the value of the stock market climbed from N28.17 trillion to N28.34 trillion. Also, the All Share Index increased in value from 51,729.87 ASI to 52,048.85 ASI,

January 12, 2023

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Fakoyejo Olalekan

Dollar Rate Rises As CBN Finds It Difficult To Supply Forex

Investment Expert Warns Of More Losses, As Crypto Investors Lose $1.51 trillion

Top 10 Nigerian Banks With Highest Customer Deposits

Stock Investors Gain N252.52 billion On Total, Berger, Other Shares

Dangote Refinery Gets New Operational Date After 5 Years Postponement

CBN Fumes As Politicians Mop Up New Naira Notes In Nigerian Banks

Dollar Rate Falls In Official Market, Oil Marketer Blames Forex For Fuel Scarcity

Access Holdings Pulls Out Of Sidian Bank Acquisition, As Both Firms Disagree On Conditions

Black Market Operators Offer To Buy Dollar Above CBN’s Official Market Rate

Stock Market Gains N173.73bn Amid Low Demand For Abbey Mortgage, Others

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