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Business - Page 487

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

Wema Bank, BUA Cement, Others Cost Stock Market Investors N672bn

Business·Markets

Stock Market In Nigeria Rises By N1.21 trillion In Value, GTCO, Zenith Bank Among Gainers

Nigerian bourse’s market capitalisation went up from Friday’s N30.45 trillion to N31.67 trillion on Tuesday, indicating N1.21 trillion or 3.99% growth in the stock exchange valuation. It followed the same path as the All-Share Index, which rose to 58,163.59 index points, up

June 13, 2023

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

Business·Oil & Gas

FG Lifts Ban On Seplat CEO, Roger Brown, Returns Visa, Work Permits

Seplat Chief Executive Officer, Roger Brown, has been allowed to return to Nigeria after the Federal Government returned his seized visa and work permits. Brown’s work permit, Combined Expatriate Residence Permit and Aliens Card (CERPAC) and other visas for entry or stay

June 13, 2023

Emefiele Settles For Plea Bargain In N6.9bn Procurement Fraud Case

Business

Whistleblower Reveals How Emefiele Detained Him For 101 Days Over $3bn Forex Scam

The Chairman of the George Uboh Whistleblowers Network, George Uboh, said he was detained for 101 days by Godwin Emefiele for exposing his alleged involvement in a forex scam. Uboh said Emefiele detained him in 2019, the same day the Senate was

June 13, 2023

AMA News·Business

Opera Responds To High Demand, Announces New Shake-and-Win Campaign In Kenya, Nigeria, South Africa With Over 130,000 Prizes

Opera – the company behind the popular data-saving Opera Mini browser, which has 100 million users across Africa – is back with a new edition of its renowned “Shake and Win” campaign. Getting underway in Kenya, Nigeria, and South Africa on the 13th

June 13, 2023

Business

CBN Fines Unity Bank N8 million, Net Profit Drops By N2.23 billion

The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) fined Unity Bank N17 million for breaching their regulations. Unity Bank was fined N8 million by the central bank during the 2022 financial year for various offences, the company’s

June 13, 2023

Naira Vs Dollar: What To Expect This Week (2nd - 6th June 2025)

Business

Dollar, Euro, Pound Rates Rise After Emefiele’s Arrest

On Monday, the average rate to exchange the naira to the dollar in the black market increased by N4 or 0.53%, as the naira shed some value to the American greenback. According to Naira Rates, a parallel market rate aggregator, the naira

June 13, 2023

Business

Polaris Bank Maintains Adequate Capitalisation, Positions For Market Dominance – CEO

Polaris Bank has assured its customers, financial sector stakeholders, and regulators that the Bank passed its road to recovery years back and currently maintains adequate capitalisation that supports its growth objectives.

June 13, 2023

Tinubu Sets Up Tax Reforms Committee, Names PwC’s Oyedele As Chairman

Business

President Tinubu Signs Student Loan Bill Into Law

President Bola Tinubu has signed the Student Loan Bill into law on Monday, 12 June, his aide, Dele Alake, disclosed this to State House Correspondents. Recall that the House of Representatives passed the bill through the second reading on 25 May 2023,

June 12, 2023

Savannah Energy’s Income Rises By 40% To $233.4m In H1 2024

Business

Savannah Energy Records 26% Revenue Growth In 2022, Continues Shift To Renewables

Savannah Energy PLC has announced its audited results for the year ended 31 December 2022. The results show that Savannah’s total revenues grew 26% to US$290.4 million (from US$230.5 million in 2021), ahead of previously issued guidance of US$215 million. Adjusted EBITDA

June 12, 2023

Business

Lawmaker, Nnolim, Addresses 5% Stake Bribe In Nigeria Air, Reveals Encounter With Sirika

The former chairperson of the House of Representatives committee on aviation, Nnaji Nnolim, has responded to claims by former aviation minister, Hadi Sirika, that he asked to be bribed with shares in the national carrier, Nigeria Air. On Sunday, during Arise TV

June 12, 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 487

Dollar Rate Drops By N10 In Black Market

Stock Market In Nigeria Rises By N1.21 trillion In Value, GTCO, Zenith Bank Among Gainers

FG Lifts Ban On Seplat CEO, Roger Brown, Returns Visa, Work Permits

Whistleblower Reveals How Emefiele Detained Him For 101 Days Over $3bn Forex Scam

Opera Responds To High Demand, Announces New Shake-and-Win Campaign In Kenya, Nigeria, South Africa With Over 130,000 Prizes

CBN Fines Unity Bank N8 million, Net Profit Drops By N2.23 billion

Dollar, Euro, Pound Rates Rise After Emefiele’s Arrest

Polaris Bank Maintains Adequate Capitalisation, Positions For Market Dominance – CEO

President Tinubu Signs Student Loan Bill Into Law

Savannah Energy Records 26% Revenue Growth In 2022, Continues Shift To Renewables

Lawmaker, Nnolim, Addresses 5% Stake Bribe In Nigeria Air, Reveals Encounter With Sirika

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