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Business - Page 533

Dangote–Farouk Saga: Why Damning Claims Brought Down Oil Sector Giants

Dangote–Farouk Saga: Why Damning Claims Brought Down Oil Sector Giants By Dr Marcel Mbamalu In a stunning turn of events, high-profile resignations have rocked Nigeria’s oil sector, leaving many wondering what’s really going on. The sudden exits of Farouk Ahmed and Gbenga

December 22, 2025

Access Bank Raises N351bn, Emerges First Nigerian Bank To Meet CBN’s N500bn Capital Requirement

Business

Access Bank Receives Approval To Acquire African Banking Corporation In Zambia

The Central Bank of Zambia has given approval to the acquisition of African Banking Corporation Zambia Limited by Access Bank. In a statement released on Friday, 24 March 2023, by Access Holdings Plc, the parent company of Access Bank, it was revealed that

March 24, 2023

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

Business·Currency

Dollar Sells At N461.67 Amid Various CBN Policies To Combat Forex Scarcity

The value of foreign exchange (Forex or FX) transacted in the Investors’ and Exporters’ window of the official market fell on Thursday, 23 March 2023. Prime Business Africa learnt from data obtained from FMDQ Exchange that foreign exchange supply in the official

March 24, 2023

Business

GTBank’s Parent Firm Risks Regulatory Sanction Over Financial Statement

Guaranty Trust Holding Company (GTCO) risks facing regulatory sanction over its Audited Financial Statements (AFS) for the year ended 31 December 2022. GTCO, the parent company established out of Guaranty Trust Bank (GTBank) revealed that the company will be unable to meet

March 24, 2023

AMA News·Business

Bybit Goes Live With ARB Token and a $400K Prize Pool

DUBAI, United Arab Emirates, 24 March 2023 -/African Media Agency(AMA)/- Bybit, the world’s third most visited crypto exchange, is proud to list the Arbitrum (ARB) token — along with a massive prize pool of $400K to celebrate. Today, users will be able to deposit

March 24, 2023

Nigeria Air: Airline Operators Hail Judiciary, Aviation Minister For Upholding Justice

Business

Nigeria Air Set To Fly Despite Court Battle With Domestic Airline Operators

The Minister of Aviation, Hadi Sirika, has said Nigeria Air, the national carrier, will commence operation before 29 May 2023 despite an ongoing court battle with domestic airline operators over ownership structure. Prime Business Africa previously reported that Airline Operators of Nigeria

March 24, 2023

Business

Air Peace Leads Africa’s Four Fastest Airline Growth By Fleet

Air Peace has recorded the fastest growth by fleet when compared to its African rivals in the continent’s aviation market, Prime Business Africa’s finding has shown. In Africa’s aviation market, there are several African heavyweight air transports; such as Air Peace, Ethiopian

March 24, 2023

Aliko Dangote, Rabiu Abdulsamad’s Food Companies To Pay Shareholders N99.22 billion

Business·Insights

Industry Review: Dangote Cement’s Net Profit Drops, Falls Behind BUA, Lafarge

Nigerian cement manufacturers reported sales worth over N2.35 trillion in 2022, recording a 21.64 per cent rise in gross earnings, but thanks to Dangote Cement, the industry suffered a decline in net profit. Prime Business Africa’s cement sector analysis showed that the

March 24, 2023

Business·News·Sports

MTN, Nigeria Breweries Pledge N3 Million To Super Eagles MVP Winner

The Super Eagles will be bouyed for victory on Friday evening when they confront Guinea-Bissau in the first leg of a double header for the 2023 Africa Cup of Nations in Cote d'Ivorie

March 23, 2023

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

Business·Markets

Nigerian Stock Market Trades Flat, Sunu Leads Gainers, NCR Tops Losers

Nigerian bourse traded flat on Thursday, as the stock market capitalisation closed at N29.920 trillion, slightly below Wednesday’s N29.927 trillion. The All-Share Index sheds 12.03 basis points to decline to 54,924.08 ASI from 54,936.11 ASI. Over 117.85 million shares exchanged investors’ hands on Thursday in 2,575

March 23, 2023

Business·Oil & Gas

Seplat Board Directors Take Legal Action Against Co-founder, Orjiako

Seplat Energy has terminated a consultancy agreement with the firm’s co-founder, A.B.C Orjiako, accusing him of putting the company at risk of liability. In a statement released on Thursday, 23 March 2023, Seplat said Orjiako and another company of his, Amaze Limited, which

March 23, 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 533

Dangote–Farouk Saga: Why Damning Claims Brought Down Oil Sector Giants

Access Bank Receives Approval To Acquire African Banking Corporation In Zambia

Dollar Sells At N461.67 Amid Various CBN Policies To Combat Forex Scarcity

GTBank’s Parent Firm Risks Regulatory Sanction Over Financial Statement

Bybit Goes Live With ARB Token and a $400K Prize Pool

Nigeria Air Set To Fly Despite Court Battle With Domestic Airline Operators

Air Peace Leads Africa’s Four Fastest Airline Growth By Fleet

Industry Review: Dangote Cement’s Net Profit Drops, Falls Behind BUA, Lafarge

MTN, Nigeria Breweries Pledge N3 Million To Super Eagles MVP Winner

Nigerian Stock Market Trades Flat, Sunu Leads Gainers, NCR Tops Losers

Seplat Board Directors Take Legal Action Against Co-founder, Orjiako

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Dangote–Farouk Saga: Why Damning Claims Brought Down Oil Sector Giants

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

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Dangote–Farouk Saga: Why Damning Claims Brought Down Oil Sector Giants

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Heirs Energies Agrees $750m Afreximbank Financing to Drive Long-Term Growth

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Dollar Trades Flat In Black Market, Appreciates In Official Window

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

Dangote–Farouk Saga: Why Damning Claims Brought Down Oil Sector Giants

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