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Business - Page 37

Femi Otedola Issues New Statement After Reports Of Transcorp Plc Acquisition

Otedola Buys 369.98m First HoldCo Shares — After Taking Out N14.8bn From Geregu Investment

Femi Otedola, the chairman and majority shareholder of First HoldCo, has increased his stake in the financial institution by buying 369.98 million shares on Thursday, December 18. According to First HoldCo’s notification of share dealing by an insider, Otedola paid N14,82 billion,

December 19, 2025

Business·Top Stories

Nigeria’s FDI Drops 70% Despite Rise In Capital Importation

Nigeria’s foreign direct investment (FDI) has indeed experienced a sharp decline, dropping by 70.06 per cent in the first quarter (Q1) of 2025 to $126.29 million, down from $421.88 million in Q4 2024. This is even at the country recorded a 67 per cent year-on-year rise in total

August 9, 2025

Business·Oil & Gas

Dangote Refinery Denies Shutdown, Assures Daily Supply

The Dangote Petroleum Refinery has denied rumours of a shutdown, affirming that it remains fully operational and continues to supply significant volumes of fuel daily. The refinery’s management, through a statement signed by its Group Chief Branding and Communications Officer, Anthony Chiejina,

August 9, 2025

Business·Currency·Markets

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 9th August 2025

What is the dollar-to-naira exchange rate on the black market, like the Aboki Fx? The exchange rate for the US dollar (USD) to Nigerian naira (NGN) in the parallel market, also known as the black market, as of 9th August 2025, is

August 9, 2025

Business·Currency·Markets

Naira Appreciates Against Dollar As External Reserves Hit $40.16bn

The Nigerian naira recorded marginal appreciation at the official foreign exchange market as the external reserves rose to $40.16 billion on Friday, 8 August 2025. Data published by the Central Bank of Nigeria shows that the naira traded at ₦1,533.57 per dollar

August 9, 2025

Business·Oil & Gas

Fresh Concerns As Dangote Refinery Hikes Ex-depot PMS Price

The recent hike in Premium Motor Spirit (PMS) price by the Dangote Petroleum Refinery has sparked fresh concerns among Nigerians, amid rising global oil prices and geopolitical tension. The 650,000 barrels per day refinery increased its ex-depot price of PMS to N852 per

August 8, 2025

Business·Top Stories

Stock Market Bullish Run Ends As Equity Cap Drops By N516bn

At the close of trading in the Nigerian stock market on Friday, August 8, the bourse’s valuation dropped to N92.21 trillion, from N92.73 trillion on Thursday, August 7, representing a decline of N516.14 billion. The market capitalisation depreciated by 0.55 percent following

August 8, 2025

Business

CBN Threatens To Sue FX Contract Violators

The Central Bank of Nigeria (CBN) has announced its intention to pursue legal actions against entities found to have violated foreign exchange (FX) forward contract regulations following a comprehensive forensic audit. The CBN made this known in a document titled ‘Frequently Asked

August 8, 2025

Business·Top Stories

Sterling Financial Holdings Fined N26m

Sterling Financial Holdings Company Plc was fined N26 million in the first half (H1) of 2025, compared to the N9 million penalty paid by the company during the same period in 2024. The financial institution disclosed the fine in its second quarter

August 8, 2025

Business·Top Stories

Mike Adenuga Buys More Shares In Sterling Financial Holdings After Dilution Reduced Stake

Mike Adenugu, the second majority shareholder of Sterling Financial Holdings Company, parent company of Sterling Bank, has purchased more shares in the lender after a rights issue conducted by the bank reduced his stake in the company. Sterling Financial had conducted a

August 8, 2025

Business·Currency·Markets

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 8th August 2025

August 8, 2025

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Dollar Trades Flat In Black Market, Appreciates In Official Window

The dollar traded at N1,487.01/$1 in the parallel market on

Venezuela Condemns Trump’s Threat, Pledges to Defend Sovereignty

The government of Venezuela has condemned what it described as

Bank of Japan Poised to Lift Rates to 30-Year High as Inflation Pressures Persist

The Bank of Japan (BOJ) is set to raise its

SEC Orders Full Registration of Tradable Instruments by January 2026

The Securities and Exchange Commission (SEC) has ordered all Capital

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Business - Page 37

Otedola Buys 369.98m First HoldCo Shares — After Taking Out N14.8bn From Geregu Investment

Nigeria’s FDI Drops 70% Despite Rise In Capital Importation

Dangote Refinery Denies Shutdown, Assures Daily Supply

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 9th August 2025

Naira Appreciates Against Dollar As External Reserves Hit $40.16bn

Fresh Concerns As Dangote Refinery Hikes Ex-depot PMS Price

Stock Market Bullish Run Ends As Equity Cap Drops By N516bn

CBN Threatens To Sue FX Contract Violators

Sterling Financial Holdings Fined N26m

Mike Adenuga Buys More Shares In Sterling Financial Holdings After Dilution Reduced Stake

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 8th August 2025

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Otedola Buys 369.98m First HoldCo Shares — After Taking Out N14.8bn From Geregu Investment

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Otedola Buys 369.98m First HoldCo Shares — After Taking Out N14.8bn From Geregu Investment

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Business - Page 37

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