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Business - Page 525

Stock Market Rally Halted As Demand For Ecobank, PZ Cussons Shares Dropped

ALEX Leads NGX Gainers’ List, Guinea Insurance Among Losers

At the end of trading in the Nigerian stock market on Monday, December 22, the capitalisation of the Nigerian Exchange (NGX) Limited closed at N97.19 trillion. Also, the all-share index (ASI) of the NGX stood at 152,459.07 ASI. Equity traders exchanged 451,52

December 22, 2025

Business

Peak Milk Forced To Apologise Over “Offensive” Easter Advert

Peak Milk has been forced to apologise after the firm was accused of profiting from an “offensive” advert posted on its social media page to celebrate Easter over the weekend. According to a statement released by the Christian Association of Nigeria (CAN)

April 11, 2023

Naira Gains More As Exchange Rate Drops To N1,300/$1 At Official Market

Business·News·Top Stories

Africa’s Dollar Millionaires Leaving For U.S, UK, UAE – Report

Home to some of the world’s fastest-growing markets like Rwanda, Mauritius and Seychelles which have seen wealth grow to some 72%, 69% and 54% respectively over the last decade, Africa still has many of its dollar millionaires leaving for greener pastures, according

April 11, 2023

Senate Speedily Passes N2.176trn Supplementary Budget, Cites Dry Season As Reason

Business

Senate Order Budget Office To Refund N19 billion Disbursed Without Approval

Due to its failure to receive approval before disbursing N19 billion to four Ministries, Departments and Agencies (MDAs), the Budget Office has been directed by the Senate to refund the sum. The Senate disclosed that the Budget Office handed N19 billion to

April 10, 2023

Business

Nigerian Cinema Operators Affected By CBN’s Naira Policy, Earn N441 million

Over N441 million was generated by the Cinema Exhibitors Association of Nigeria (CEAN) in March 2023, the National Chairman of the cinema operators, Opeyemi Ajayi, revealed. The amount was generated from movies shown across various screen theatres including Silverbird Cinemas, FilmHouse Cinemas,

April 10, 2023

Business

Rabiu Abdulsamad’s Food Company Makes N418.34 billion From Sugar, Flour Sales

BUA Foods revealed that its revenue for the financial year of 2022 rose by 26 per cent, with the company’s bottom line up by 31 per cent. According to the financial records of BUA Foods, the firm largely owned by billionaire, Rabiu Abdulsamad,

April 10, 2023

Google Ordered To Delete Cashpal, Swiftkash, 16 Other Nigerian Loan Apps

Business·Technology

FG, Google Unveil Four Operational Requirements For Loan Apps, Aggregators

Google has stated that digital loan apps will no longer be able to access users’ data such as photos, videos and contacts amongst others. Recall that the Federal Government had stated that it was working with Google to curtail the illegal activities

April 10, 2023

Business

CBN Asked To Disburse N250 billion To Cushion Subsidy Removal

The Central Bank of Nigeria (CBN) has been urged to hand over the N250 billion intervention fund for the National Gas Expansion Programme to the Independent Petroleum Marketers Association of Nigeria (IPMAN). IPMAN asked that access to the fund should be granted

April 10, 2023

Nigeria's Debt Crisis Deepens With 183% Debt Service To Revenue Ratio

Business·Finance & Economy·Top Stories

5 African Countries Facing Serious Debt Crisis In 2023

Over the past few years, developing nations have been grappling escalating debt levels, facing a multitude of macroeconomic hurdles which limit their ability to service these debts and promote sustainable growth. Often, the result is sluggish economic trajectory, which can only be

April 8, 2023

Breaking: CBN Tell Banks To Increase Interest Rate On Loan, Set MPR At 18.5%

Business

Over 134.39 million Bank Accounts Risk Shutdown As CBN Clampdown On Fraud

Bank accounts not linked to Bank Verification Number (BVN) system will be closed down by the financial regulator, the Central Bank of Nigeria (CBN). The central bank said it will take the step to crack down on fraud, as the accounts without

April 7, 2023

Business·Insights

How Ghana’s Financial Crisis Affects Zenith Bank, UBA, Lose N76.04bn

Nigerian commercial banks suffered significant losses in Ghana in 2022, over the government’s inability to meet its debt obligations. Prime Business Africa gathered that Zenith Bank and UBA lost N76.04 billion in their investment locked in securities issued by the Ghanaian government.

April 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 525

ALEX Leads NGX Gainers’ List, Guinea Insurance Among Losers

Peak Milk Forced To Apologise Over “Offensive” Easter Advert

Africa’s Dollar Millionaires Leaving For U.S, UK, UAE – Report

Senate Order Budget Office To Refund N19 billion Disbursed Without Approval

Nigerian Cinema Operators Affected By CBN’s Naira Policy, Earn N441 million

Rabiu Abdulsamad’s Food Company Makes N418.34 billion From Sugar, Flour Sales

FG, Google Unveil Four Operational Requirements For Loan Apps, Aggregators

CBN Asked To Disburse N250 billion To Cushion Subsidy Removal

5 African Countries Facing Serious Debt Crisis In 2023

Over 134.39 million Bank Accounts Risk Shutdown As CBN Clampdown On Fraud

How Ghana’s Financial Crisis Affects Zenith Bank, UBA, Lose N76.04bn

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ALEX Leads NGX Gainers’ List, Guinea Insurance Among Losers

Dollar Rate Drops In Black Market, Stable In Official Window

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

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

ALEX Leads NGX Gainers’ List, Guinea Insurance Among Losers

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