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BDC Operators' Pound Rate Causing Gains, Loses For Nigerians

Naira Appreciates Against Dollar, Pound, Euro In Official Market

The Nigerian foreign exchange market (NFEM) closed with N1,358.28 kobo per dollar being the official rate for the day on Wednesday, February 4. According to data obtained from the Central Bank of Nigeria (CBN), the official rate dropped from the N1,372.91 kobo

February 4, 2026

John Holt, CWG, Others End Nigerian Stock Market Losing Streak With N141.70bn Gain

Business·Top Stories

NGX Market Cap Rises By N1.36trn, Traders Exchange N20.56bn Shares

The market capitalisation of the Nigerian Exchange (NGX) increased by N1.36 trillion to N107.86 trillion on Wednesday, February 4, up from the N106.49 trillion reported on Tuesday, February 3. Also, the all-share index (ASI) appreciated to 168,030.18 ASI, from 165,901.57 ASI, representing a

February 4, 2026

Stock Market Traders Favoured Ikeja Hotel Over Transcorp Hotels in 2025

Business·Top Stories

Nigerians Spent N81bn On Hotel Rooms In 2025

Over N81.33 billion was spent on hotel rooms in Nigeria in 2025, up from the N58.42 billion expended in 2024, representing a N22.90 billion or 39.20 percent increase, according to Prime Business Africa’s analysis. The amount is based on revenue generated by

February 4, 2026

Naira Records Marginal Gain As External Reserves Hit $41.27bn In August

Business·Top Stories

Dollar Records Mixed Fortune In Parallel, Official Markets

On Tuesday, February 3, the United States dollar (USD) increased in value to N1,457.91 kobo per $1 in the black market, above the N1,454.99 kobo/$1 recorded on Monday, February 2. The dollar rate increased by N2.92 kobo during trading in the black

February 3, 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

IMG, Union Dicon Lift NGX Market Cap By N332.48bn

Over N332.48 billion was gained in the Nigerian Exchange (NGX), also known as the stock market, on Tuesday, February 3, after the all-share index (ASI) appreciated 0.31 percent. The gain was reflected in the market capitalisation, which increased from N106.16 trillion on

February 3, 2026

Business·Top Stories

How International Breweries Recorded First Profit In Over 6 Years

After recording losses for over six years, International Breweries Plc has returned to profit in 2025 after an improvement in the company’s financial assets value and achieving its first net finance income in more than half a decade. In the company’s unaudited

February 3, 2026

Naira vs Dollar: What To Expect This Week (24th-30th, March 2025)

Business·Top Stories

Dollar Appreciates Against Naira In Black Market, Trades At N1,454/$

The black market recorded a N17.99 kobo increase in the foreign exchange (FX) rate of the United States dollar (USD) on Monday, February 2. During trading, the American greenback exchanged for N1,454.99 kobo per dollar, above the N1,437 per $1 it traded

February 2, 2026

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

Business·Top Stories

NGX Records Sluggish Growth As Market Cap Rises By N9.12bn

Trading was sluggish in the Nigerian Exchange (NGX) on Monday, February 2, as the all-share index (ASI) expanded slightly by 14.23 basis points. The ASI closed at 165,384.63 index, up from the 165,370.4 ASI reported on Friday, January 30. Consequently, the market

February 2, 2026

Femi Otedola Issues New Statement After Reports Of Transcorp Plc Acquisition

Business·Top Stories

Femi Otedola’s Investment In First HoldCo Now N362.48bn

Femi Otedola, the chairman of First HoldCo, has increased his stake in the financial institution by 6.32 percent, from 11.8 percent held at the end of 2024 to 18.12 percent as of December 31, 2025. In the company’s unaudited consolidated and separate

February 2, 2026

Business·Top Stories·World News

Shenzhen Gold Trading Platform Jieworui Faces Redemption Crisis, Government Task Force Steps In

A Shenzhen-based gold trading platform, operated by Shenzhen Jiewo Rui Jewelry Co., Ltd., has come under official scrutiny after reports emerged of widespread redemption difficulties, with many investors unable to withdraw cash or receive gold they purchased. The situation has drawn public

February 1, 2026

FBN Holding Appoints Otedola As Chairman Days After Return To Forbes African Billionaires

Business·News·Top Stories

First HoldCo Absorbs ₦748bn Loan Losses, Says Balance Sheet Now Stronger for Recapitalisation Drive

First Bank Holding Company (First HoldCo) has said its decision to recognise ₦748 billion in legacy bad loans in one sweep has placed the group on a stronger footing ahead of the Central Bank of Nigeria’s (CBN) planned banking sector recapitalisation, despite

January 31, 2026

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Trump Threatens 100% Tariffs on Canadian Goods Over China Trade Deal

U.S. President Donald Trump has threatened to impose 100 per

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

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Business

Naira Appreciates Against Dollar, Pound, Euro In Official Market

NGX Market Cap Rises By N1.36trn, Traders Exchange N20.56bn Shares

Nigerians Spent N81bn On Hotel Rooms In 2025

Dollar Records Mixed Fortune In Parallel, Official Markets

IMG, Union Dicon Lift NGX Market Cap By N332.48bn

How International Breweries Recorded First Profit In Over 6 Years

Dollar Appreciates Against Naira In Black Market, Trades At N1,454/$

NGX Records Sluggish Growth As Market Cap Rises By N9.12bn

Femi Otedola’s Investment In First HoldCo Now N362.48bn

Shenzhen Gold Trading Platform Jieworui Faces Redemption Crisis, Government Task Force Steps In

First HoldCo Absorbs ₦748bn Loan Losses, Says Balance Sheet Now Stronger for Recapitalisation Drive

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Naira Appreciates Against Dollar, Pound, Euro In Official Market

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

Naira Appreciates Against Dollar, Pound, Euro In Official Market

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