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NGX Lists 3.16bn Additional UBA Shares, Boosting Liquidity, Market Capitalisation

The Nigerian Exchange Limited (NGX) has formally admitted an additional 3.156 billion ordinary shares of United Bank for Africa (UBA) Plc to its Daily Official List, a move expected to deepen market liquidity and significantly enhance the bank’s market capitalisation, Prime Business

January 14, 2026

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

Business·Top Stories

Tantalizer Among Gainers As NGX Market Cap Surges By N598bn

Academy topped the gainers’ chart on the Nigerian Exchange (NGX) on Wednesday, January 14, and May & Baker led the losers’ table as the bourse’s market capitalisation increased by N598.40 billion. According to data provided by the NGX, also known as the

January 14, 2026

Business·Top Stories

Naira Records Mixed Fortunes In Official, Black Markets

The value of the naira appreciated marginally by 0.05 percent following a N0.75 kobo decrease in the foreign exchange (FX) rate of the United States dollar (USD) in the Nigerian foreign exchange market (NFEM), on Wednesday, January 14. In an NFEM data

January 14, 2026

Business·News·Nigeria·Top Stories

Nestoil, Neconde Reject Viral Supreme Court Reports

Nestoil Nigeria Limited and Neconde Energy Limited have dismissed media claims suggesting a Supreme Court decision had been reached in their ongoing legal dispute with a consortium of lenders. In a statement on Tuesday, the companies said reports claiming winners or losers

January 14, 2026

Business·Finance & Economy·News

VAT Allocation: South-East Receives 338% More Than It Contributed in 2024 – Chidoka

Nigeria’s Value Added Tax (VAT) system has come under scrutiny as data reveals the South-East region received ₦341.46 billion in VAT allocations in 2024, despite contributing only ₦101.09 billion – a 337.8% return. Former Aviation Minister and Corps Marshal of the Federal.

January 14, 2026

Africa·Business·Top Stories

United Capital Strengthens Board to Accelerate African Infrastructure

United Capital Plc has appointed four senior infrastructure investment professionals to the Investment Committee of its ₦150 billion United Capital Infrastructure Fund (UCIF). Prime Business Africa has learned that the move was to scale infrastructure projects across Nigeria and the wider African

January 14, 2026

Rabiu Abdulsamad’s Food Company Makes N418.34 billion From Sugar, Flour Sales

Business·Top Stories

Abdul Samad Rabiu Gained N19.22trn In Nigerian Stock Market In 2025

Abdul Samad Rabiu, the founder of BUA Group and the third-richest man in Nigeria, saw his investments in the Nigerian Exchange (NGX) increase by 92.33 percent to N19.22 trillion at the end of 2025, according to Prime Business Africa’s analysis. Analysis showed

January 14, 2026

Business·News·Top Stories

Paystack Moves into Lending with Acquisition of Ladder Microfinance Bank

Nigerian fintech giant Paystack, owned by U.S.-based Stripe, has formally entered the lending market with the acquisition of Ladder Microfinance Bank, marking a major expansion from its core payments business into regulated banking, Prime Business Africa reports. The acquisition grants Paystack a

January 14, 2026

Business·News·Top Stories

Kemi Omotosho Steps In to Redefine MultiChoice Nigeria’s Future

Kemi Omotosho has officially taken the reins as Chief Executive Officer of MultiChoice Nigeria, marking a new chapter for the pay-TV giant as it navigates rising competition, digital disruption, and shifting consumer expectations. She succeeds John Ugbe, who is retiring after nearly

January 14, 2026

Business·Top Stories

NGX Traders Exchange N33.54bn Shares, Market Cap Hits N106trn

After trading on the Nigerian Exchange (NGX), also known as the stock market, closed on Tuesday, January 13, the bourse’s market capitalisation grew to N106.18 trillion. This represents a N1.66 trillion gain in the stock market when compared to the N104.52 trillion

January 13, 2026

Naira Falls Against Dollar Across FX Markets

Business·Top Stories

Dollar, Pound, Euro Rates Drop In Official Market

The United States dollar (USD) depreciated in value by 0.33 percent against the naira after the official market’s foreign exchange rate dropped to N1,420.25 kobo per $1 on Tuesday, January 13. According to the data from the official market, also known as

January 13, 2026

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Nigeria Tightens Rules for Courier Companies Using Prepaid Imports

Nigeria’s customs authority has introduced new rules for courier companies

Behind the Geregu Power Sale: Politics and a $750m Deal

The sale of Geregu Power, one of Nigeria’s largest electricity

Recapitalisation: UBA Extends Deadline For Rights Issue

UBA Hits Billion-Naira Milestone: Rights Issue Success Pushes Capital Base Above ₦500bn

United Bank for Africa (UBA) has successfully concluded its rights

GivTrade Secures UAE SCA Category 5 Licence

GivTrade, an international multi-asset brokerage providing access to global markets

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Business

NGX Lists 3.16bn Additional UBA Shares, Boosting Liquidity, Market Capitalisation

Tantalizer Among Gainers As NGX Market Cap Surges By N598bn

Naira Records Mixed Fortunes In Official, Black Markets

Nestoil, Neconde Reject Viral Supreme Court Reports

VAT Allocation: South-East Receives 338% More Than It Contributed in 2024 – Chidoka

United Capital Strengthens Board to Accelerate African Infrastructure

Abdul Samad Rabiu Gained N19.22trn In Nigerian Stock Market In 2025

Paystack Moves into Lending with Acquisition of Ladder Microfinance Bank

Kemi Omotosho Steps In to Redefine MultiChoice Nigeria’s Future

NGX Traders Exchange N33.54bn Shares, Market Cap Hits N106trn

Dollar, Pound, Euro Rates Drop In Official Market

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VAT Allocation: South-East Receives 338% More Than It Contributed in 2024 – Chidoka

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Nigeria Tightens Rules for Courier Companies Using Prepaid Imports

Behind the Geregu Power Sale: Politics and a $750m Deal

UBA Hits Billion-Naira Milestone: Rights Issue Success Pushes Capital Base Above ₦500bn

GivTrade Secures UAE SCA Category 5 Licence

U.S. Freezes Immigrant Visas for 75 Countries

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