Fakoyejo Olalekan, Author at Prime Business Africa

Access Bank Serves Seplat Energy With Bankruptcy Court Order Against Orjiako

Seplat Energy has been served with a bankruptcy ex parte interim court order from Access Bank, as the financial institution moves to recover the debt A.B.C Orjiako owes the lender. Orjiako, who served as the chairman of the company between August 2003

August 11, 2023

Business

CBN Owes Goldman Sachs, JP Morgan $7.5bn, Releases Financials Amid Probe

Amid an investigation into the affairs of the Central Bank of Nigeria (CBN), the financial regulator has released seven years of the firm’s financial statements. The CBN stopped publishing its report in 2016 after Godwin Emefiele became the governor of the apex

August 11, 2023

Naira Ends Week With N59.71 Gain At Official Market

Business·Currency

Gap Between Black Market, Official Window Dollar Rates Hits N120.56

On Thursday, data from the official window and the black channel showed that the gap between the two markets’ rates is now N120.56 kobo. According to Naira Rates, a parallel market aggregator, the average price of the dollar was N901.9/$1, increasing from

August 11, 2023

Business

US Reveals Ways China Could Influence Nigerian Gov’t’s Decisions

The United States has disclosed that Nigeria could be influenced by China with the loans the Asian country has been extending to the West African nation. In an Integrated Country Strategy report dated 6 April 2022, but updated on 23 June 2023

August 11, 2023

Business·Markets

Stock Market Cap Up By N564.84bn, FBN Holdings, Fidelity Bank Top Trade

The market capitalisation of the Nigerian stock exchange increased by N564.84 billion or 1.61 per cent to rise from N34.91 trillion to N35.48 trillion on Thursday. After trading, the All-Share Index closed at 65,204.82, up from 64,167.39 ASI, after bagging 1,037.43 basis

August 10, 2023

Business

Uncertainty Surrounds Azman Air’s Future, As Firm Fails To Raise Funds For Aircraft

The inability of Azman Air’s management to raise foreign exchange for the maintenance of the airline’s aircraft has been cited as the reason the company shut down its operation. Azman has four Boeing 737 series aircraft pulled out of operation for C-checks

August 10, 2023

Business·Oil & Gas

Vessel Scarcity, Four Other Reasons Gas Prices Will Rise In Nigeria From Next Week

The President of the Nigerian Association of Liquefied Petroleum Gas Marketers, Olatunbosun Oladapo, has listed five reasons the prices of cooking gas will rise from next week. Oladapo said market forces are influencing the prices at a period gas business has been

August 10, 2023

Business·Currency

Dollar Rate Hits N782 In Official Window, N891 In Black Markets

In the Investors’ and Exporters’ window of the official market, the naira to dollar rate settled at N782.38/$1 at the end of trading on Wednesday. The naira depreciated in value by 3.28 per cent at the same time the price of the

August 10, 2023

Business

Investors To Buy N150 billion-worth Of FBN Holdings Stake

FBN Holdings said the board of directors will propose a N150 billion capital raise through Rights Issue to shareholders of the company on August 15, 2023. The company intends to sell some of its shares to existing shareholders to raise the capital

August 10, 2023

Business·Markets

Shareholders Of Dangote Cement, Others Lose N621.60bn In Stock Trading

Report from the Nigerian stock market showed that shareholders in Dangote Cement and others on the losers list on Wednesday lost N621.60 billion to selloffs. The loss reduced the valuation of the Nigerian bourse by 1.74 per cent to N34.91 trillion market

August 9, 2023

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Fakoyejo Olalekan

Access Bank Serves Seplat Energy With Bankruptcy Court Order Against Orjiako

CBN Owes Goldman Sachs, JP Morgan $7.5bn, Releases Financials Amid Probe

Gap Between Black Market, Official Window Dollar Rates Hits N120.56

US Reveals Ways China Could Influence Nigerian Gov’t’s Decisions

Stock Market Cap Up By N564.84bn, FBN Holdings, Fidelity Bank Top Trade

Uncertainty Surrounds Azman Air’s Future, As Firm Fails To Raise Funds For Aircraft

Vessel Scarcity, Four Other Reasons Gas Prices Will Rise In Nigeria From Next Week

Dollar Rate Hits N782 In Official Window, N891 In Black Markets

Investors To Buy N150 billion-worth Of FBN Holdings Stake

Shareholders Of Dangote Cement, Others Lose N621.60bn In Stock Trading

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