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Business - Page 451

Dollar Rate Drops By N10 In Black Market

Over N10 was removed from the foreign exchange rate for the United States dollar (USD) in the black market on Wednesday, December 24. According to Naira Rates, the price for a dollar had depreciated to N1,467.99 kobo per $1, from the N1,477.99

December 24, 2025

Business·Markets

Tantalizer, Mutual Benefit, Others Drag Nigerian Bourse Value Down By N14.72bn

Stock market capitalisation ended trading on Tuesday with N35.54 trillion, as selloffs in Tantalizer, Mutual Benefit and others dragged the bourse’s value down by 0.04 per cent. This wiped N14.72 billion from the market capitalisation, which closed trading on Monday with N35.55

August 8, 2023

Business·Technology

Twitter Starts Ad-sharing Payment To Nigerian Content Creators

X, formerly known as Twitter, has begun payment to Nigerian content creators on the platform through its ad revenue-sharing program, which started last month in the United States. The ad revenue-sharing program was created by X to increase its paid subscriber base

August 8, 2023

Africa·Agro-Economy·Business

How Russia’s Withdrawal From Black Sea Grain Deal May Escalate Food Shortages In African Countries

The ongoing crisis between Russia and Ukraine has continued to pose a significant negative impact on the global economy with supply chain disruptions on countries that depend on imports from the two nations. This time, African countries including Nigeria may have to

August 8, 2023

The authorised dealers in the official market sold the United States Dollar (USD) at the rate of N774.77/$1 at the end of trading on Tuesday.

Business·Oil & Gas

Seplat Operating Profit Falls By 51.7%, Records $33.8m Net Loss

The naira devaluation affected the operating profit of Seplat Energy in the first half (H1) of 2023, Prime Business Africa gathered. Seplat’s operating profit depreciated by 51.7 per cent or $126.90 million due to the naira devaluation and low oil prices, according

August 8, 2023

Naira Ends Week With Marginal Gain Against Dollar

Business·Currency

Dollar Trades As Low As N475/$1 In Official Market, Stabilises In Black Market

Authorised dealers in the investors’ and exporters’ window on Monday increased the asking price of the United States Dollar to N774.78/$1. Investors and exporters saw the price rise by N31.71 kobo at the end of trading in the I&E window of the

August 8, 2023

Business

FG To Stop Taxing Tomatoes, Other Non-taxable Goods, Services

Federal Government is planning to stop taxes on tomatoes and other raw food items, the Executive Chairman, Federal Inland Revenue Service (FIRS), Muhammad Nami, has revealed. Nami said FG is taking steps to end taxation on non-taxable goods and services, as well

August 8, 2023

Business·Markets

GSK, Wema Bank, Others Lift Stock Market Cap By N75.44bn

After trading on Monday, the Nigerian stock market capitalisation rose to N35.55 trillion, as the bourse’s valuation appreciated by 0.21 per cent. This represents N75.44 billion gain in the stock market capitalisation, which closed Friday’s trading at N35.47 trillion. According to data from the

August 7, 2023

Business·Oil & Gas

Seplat Shareholders Demand Sack Of CEO, Board Amid Legal Fees Controversy

Seplat shareholders have asked the Financial Reporting Council of Nigeria (FRCN) and the Security and Exchange Commission (SEC) to investigate the oil and gas company. The shareholders under the umbrella, the Independent Shareholders Association of Nigeria (ISAN) also called for the sack

August 7, 2023

CBN Releases Another Around Of $10,000 FX To Each BDC, Mandates Them To Sell At N1,117/$1

Business·Currency

CBN-backed I&E Window Reduces Dollar Rate, Black Market Sellers Hike Price

The price of the United States Dollar was reduced by N33.43 kobo at the end of trading in the official market on Friday, as it closed at N743.07/$1. Prime Business Africa gathered that the reduction in the dollar rate showed the naira

August 7, 2023

GSK Consumer Nigeria Faces Delisting As NGX Suspends Trading

Business·Insights·Markets

Why Investors Are Jostling For GSK Nigeria’s Shares Despite Impending Shutdown

Shareholders of Glaxo SmilthKline (GSK) Consumer Nigeria saw their investments in the pharmaceutical company increase by 20.27 per cent after the firm announced its plan to cease operation. GSK Nigeria closed on Thursday that the healthcare company will shut down its operation after

August 7, 2023

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Nigeria Launches N590bn Power Sector Bond to Clear GENCO, Gas Arrears

The Federal Government of Nigeria has issued its debut bond

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

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Business - Page 451

Dollar Rate Drops By N10 In Black Market

Tantalizer, Mutual Benefit, Others Drag Nigerian Bourse Value Down By N14.72bn

How Russia’s Withdrawal From Black Sea Grain Deal May Escalate Food Shortages In African Countries

Seplat Operating Profit Falls By 51.7%, Records $33.8m Net Loss

Dollar Trades As Low As N475/$1 In Official Market, Stabilises In Black Market

FG To Stop Taxing Tomatoes, Other Non-taxable Goods, Services

GSK, Wema Bank, Others Lift Stock Market Cap By N75.44bn

Seplat Shareholders Demand Sack Of CEO, Board Amid Legal Fees Controversy

CBN-backed I&E Window Reduces Dollar Rate, Black Market Sellers Hike Price

Why Investors Are Jostling For GSK Nigeria’s Shares Despite Impending Shutdown

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