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Business - Page 485

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

Sanusi Backs Tinubu’s Decision On Emefiele, Others, Says Investors Happy With Policies

Business

Sanusi Backs Tinubu’s Decision On Emefiele, Says Investors Happy With Policies

The former Governor of the Central Bank of Nigeria (CBN), Muhammad Sanusi, has backed the economic decisions of President Bola Tinubu, which include the end of fuel subsidies and the suspension of Godwin Emefiele. Sanusi said the decisions addressed many issues he

June 16, 2023

Business·Insights

GTBank, UBA, Access Bank Compete For Nollywood’s $85.43bn Financial Opportunity

Nigerian Deposit Money Banks (DMBs) have taken their rivalry beyond the financial sector, extending their fight for dominance and relevance to the movie industry in Nigeria. It’s no news that banks are now diversifying their revenue source from core banking operations, spreading

June 16, 2023

Aliko Dangote, Abdulsamad Rabiu Loses $5.85 billion To Naira Devaluation

Business

Aliko Dangote, Abdulsamad Rabiu Lose $5.85 billion To Naira Devaluation

Africa’s richest man, Aliko Dangote, and Nigerian billionaire, Abdulsamad Rabiu, lost $5.85 billion from their total net worth on Thursday, as the naira devaluation bites the businessmen. Dangote lost $3.12 billion and Rabiu’s fortune dropped by $2.73 billion, data obtained from Bloomberg Billionaire Index

June 16, 2023

Naira Appreciates At Official Market As Dollar Supply Rises On Friday

Business·Currency

Official Market Traders Increase Dollar Rate To N702, Black Market USD, Pound Rates Drop

The official market dollar rate ended Thursday’s trading with N702.19/$1, up from the N664.04/$1 reported during the previous day’s session. According to the analysis of the official dollar rate provided by FMDQ Exchange, authorised dealers increased the cost of the United States

June 16, 2023

Business·News·Technology

Network Security: NCC Tasks Telcos On Consumer Safety

The Nigerian Communications Commission (NCC) has directed Mobile Network Operators (MNOs) and Internet Service Providers (ISP) in the country to comply with regulatory frameworks emplaced by the Commission towards ensuring security and safety of their networks for telecom consumers. The Executive Vice

June 15, 2023

Business·Sports·Uncategorized

Barcelona Opens 12th Store To Sell Club’s Merchandise

As plans are underway for preparations ahead of the 2023/2024 La Liga season which begins on 11 August, Barcelona on Thursday, 15 June 2023 opened its 12th self-managed store

June 15, 2023

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

Business·Markets

Stock Market Investors Lose N430.10bn To Selloffs In Sunu, Cornerstone, Others

Over N430.10 billion was lost in the Nigerian stock market on Thursday, as the equity capitalisation fell from N32.66 trillion to N32.23 trillion. Also, the All-Share Index dropped to 59,195.21 ASI, losing 789.89 basis points from 59,985.1 points reported the preceding day. Traders on the exchange

June 15, 2023

Fuel, Bread, Others Push Nigeria's Inflation Rate To 22.41%, NBS CPI Report Shows

Business

Nigeria’s Inflation Jumps To 22.41% On Fuel Price, Others

The National Bureau of Statistics (NBS) has revealed that Nigeria’s inflation rate climbed to N22.41% in May 2023, up from 22.22% in April. Similarly, the Urban inflation rate soared to 23.74% last month, up from 18.24% reported in May last year. This

June 15, 2023

Business·Insights

Nigeria’s Debt To Hit N90 trillion, Corporate Tax Revenue To Drop, 10 Major Implications Of Naira Devaluation

The Fiscal Policy Partner and Africa Tax Leader at PwC, Taiwo Oyedele, said the Naira exchange rates unification by the Central Bank of Nigeria (CBN) will result in positive and negative implications. Oyedele stated in a Twitter post on Wednesday, 14 June,

June 15, 2023

Business·Technology

TikTok Reaps Huge In One-year-old e-Commerce Business Venture

TikTok’s new online shopping business venture is paying off, as its e-commerce affiliate has gained substantial market share in Southeast Asia just a year after its launch, according to a report quoted by AFP on Thursday. Momentum Works, a consultancy focused on

June 15, 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 485

Dollar Rate Drops By N10 In Black Market

Sanusi Backs Tinubu’s Decision On Emefiele, Says Investors Happy With Policies

GTBank, UBA, Access Bank Compete For Nollywood’s $85.43bn Financial Opportunity

Aliko Dangote, Abdulsamad Rabiu Lose $5.85 billion To Naira Devaluation

Official Market Traders Increase Dollar Rate To N702, Black Market USD, Pound Rates Drop

Network Security: NCC Tasks Telcos On Consumer Safety

Barcelona Opens 12th Store To Sell Club’s Merchandise

Stock Market Investors Lose N430.10bn To Selloffs In Sunu, Cornerstone, Others

Nigeria’s Inflation Jumps To 22.41% On Fuel Price, Others

Nigeria’s Debt To Hit N90 trillion, Corporate Tax Revenue To Drop, 10 Major Implications Of Naira Devaluation

TikTok Reaps Huge In One-year-old e-Commerce Business Venture

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