Prime Business Africa

How AIICO Insurance Prevented N2.81bn FX Loss From Hurting Bottom Line

Strong earnings shielded AIICO Insurance’s bottom line from a significant foreign exchange (FX) loss, enabling the company to close 2025 with a 25 percent increase in net income. AIICO Insurance recorded N191.77 billion gross written premium between January and December 2025, exceeding

February 18, 2026

Naira Falls Against Dollar In Black Market As Demand Increases In FX Market

Business·Top Stories

Naira Appreciates Against Dollar, Pound, Euro In Black Market

The foreign exchange (FX) rate of the United States dollar (USD) decreased to N1,398.79 kobo per $1 in the black market on Tuesday, February 17. Naira Rates, the black market aggregator, said the price for the USD dropped from N1,444.88 kobo/$1 recorded

February 17, 2026

Business·Top Stories

Zenith Bank, Skyway Aviation Drag Down NGX Market Cap By N577.40bn

The market capitalisation of the Nigerian Exchange (NGX), also known as the stock market, decreased to N121.55 trillion on Tuesday, February 17, from the N122.12 trillion recorded on Monday, February 16. This represents a decline of N577.40 billion in the market capitalisation,

February 17, 2026

Business·Top Stories

FX Losses, Rising Expenses Weigh on Guinea Insurance As Profit Plunges By 66%

In 2025, Guinea Insurance was able to up its revenue by 3.20 percent, but the single-digit growth was not enough to save its bottom line from plunging, as expenses and its inability to improve foreign exchange (FX) and investment gains weighed on

February 17, 2026

Business·Top Stories

Black Market, Official Window FX Rates Gap Widens By N100

The gap between the black market and the official window widened to N100.88 kobo on Monday, February 16, from N49.58 kobo on Friday, February 13. In the black market on Monday, the foreign exchange (FX) rate for the United States dollar (USD) increased

February 16, 2026

The equity market closed in positive territory for the second time this week as stocks rose by 0.04%. Investors traded N15.07bn worth of shares.

Business·Top Stories

Jaiz Bank, Beta Glass Lead Gainers’ List As NGX Market Cap Rises By N5.10trn

At the end of trading in the Nigerian Exchange (NGX), also known as the stock market, on Monday, February 16, the market capitalisation of the bourse closed at N122,12 trillion. The NGX’s market capitalisation increased by N5.10 trillion from the N117.02 trillion

February 16, 2026

Business·Top Stories

Rush For Palm Oil Stocks Creates New Trillion-naira Firms, Bumper Gains

The palm oil sector recorded a historical period in 2025, as the rush for the few producers on the Nigerian Exchange (NGX), also known as the stock market, birthed two trillion-naira companies in the bourse and added N1.23 trillion to shareholders’ wealth

February 16, 2026

Naira Appreciates, Ends Week Positive Across Official, Black Markets

Business·Top Stories

Dollar Rate Drops To N1,404/$ In Black Market, Rises To N1,355/$ In Official Window

The black market on Friday, February 13, saw traders exchange the United States dollar (USD) at N1,404.99 kobo per USD, compared to the N1,444.88 kobo/$1 recorded on Thursday, February 12. Based on the data obtained from Naira Rates, the black market aggregator,

February 13, 2026

Business·Top Stories

NGX Market Cap Rises By N2.36trn To N117trn

Following a 3,687.45 basis points increase in the all-share index, the market capitalisation of the Nigerian Exchange (NGX) increased by N2.36 trillion on Friday, February 13. The index had increased to 182,313.08 ASI, from the 178,625.63 ASI recorded on Thursday, February 12.

February 13, 2026

Financial Expert Says Stable Forex Regime Will trigger Nigerian Breweries, Others’ Return To Profitability In 2024

Business·Top Stories

Inside Nigerian Breweries Turnaround: How Slashing Borrowing Costs Ended Two-Year Losing Streak

After two years losing streak, Nigerian Breweries is back to profitability, reversing the heavy losses recorded in 2023 and 2024, which were the periods the company’s shareholders were not rewarded for their investments. In 2025, Nigerian Breweries generated N1.46 trillion compared to

February 13, 2026

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Prime Business Africa

How AIICO Insurance Prevented N2.81bn FX Loss From Hurting Bottom Line

Naira Appreciates Against Dollar, Pound, Euro In Black Market

Zenith Bank, Skyway Aviation Drag Down NGX Market Cap By N577.40bn

FX Losses, Rising Expenses Weigh on Guinea Insurance As Profit Plunges By 66%

Black Market, Official Window FX Rates Gap Widens By N100

Jaiz Bank, Beta Glass Lead Gainers’ List As NGX Market Cap Rises By N5.10trn

Rush For Palm Oil Stocks Creates New Trillion-naira Firms, Bumper Gains

Dollar Rate Drops To N1,404/$ In Black Market, Rises To N1,355/$ In Official Window

NGX Market Cap Rises By N2.36trn To N117trn

Inside Nigerian Breweries Turnaround: How Slashing Borrowing Costs Ended Two-Year Losing Streak

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