Prime Business Africa

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Naira Falls Against Dollar In Black Market As Demand Increases In FX Market

Dollar Trades At N1,362/$ In Official Window, Pound Rate Drops To N1,820/£

June 8, 2026

The United States dollar (USD) traded largely flat in the Nigerian foreign exchange market (NFEM), also known as the official window, on Monday, according to the financial sector regulator, the Central Bank of Nigeria (CBN). CBN’s foreign exchange (FX) movement tracker showed

Business News·Top Stories

NGX Market Cap Closes At N156trn, Stock Traders Gain N714bn Within Eight Hours

June 8, 2026

At the end of trading on Monday, the market capitalisation of the Nigerian Exchange (NGX), also known as the stock market, increased to N156.30 trillion. The market capitalisation had closed trading on Friday at N155.59 trillion, representing a N714.32 billion increase. Also,

News·Security·Top Stories

Abducted Oyo School Principal Denies Reports of ₦1bn Ransom, Sharia Demand in New Captivity Video

June 8, 2026

A fresh twist has emerged in the abduction of schoolchildren and teachers in Oyo State, with one of the victims, Principal Mrs. Alamu Folawe, appearing in a new video to deny widespread reports that their captors demanded a ₦1 billion ransom, the

Finance & Economy·News·Top Stories

Nigeria’s Trade Surplus Rises to N7.55tn, as Import Squeeze Reshapes External Balance in Q1 2026

June 8, 2026

Nigeria’s external trade position strengthened significantly in the first quarter of 2026, as a sharp contraction in imports combined with modest export growth pushed the country’s trade surplus to N7.55 trillion, according to data released by the National Bureau of Statistics (NBS),

Taxing The Poor Won’t Make Nigeria Wealthy, Says Taiwo Oyedele

Finance & Economy·News·Top Stories

FG Prioritises Small Contractors in Fresh Payment Drive to Unlock Stalled Projects

June 8, 2026

The Federal Government has approved payments to more than 1,240 local contractors in a move aimed at easing liquidity constraints for indigenous businesses and accelerating the completion of public infrastructure projects across the country, Prime Business Africa reports. The Federal Ministry of

Business News·Top Stories

Fortis Global Insurance Is Running Out Of Cash As Firm’s Loss Increases By 452%

June 8, 2026

Fortis Global Insurance’s revenue increased by 1,322 percent in the first quarter (Q1) of 2026 to N445.97 million, compared to the N31.36 million generated between January and March 2025. Analysis of the company’s financial statements for the first quarter ended March 31,

FEATURES·Security

Travel to Serve or Travel to Be Kidnapped? Rising Insecurity Fuels Calls to Rethink NYSC

June 8, 2026

For generations of Nigerian graduates, receiving a call-up letter from the National Youth Service Corps (NYSC) represented more than just a mandatory one-year programme. It was a rite of passage a chance to experience a different culture, contribute to national development and

News·Security·Top Stories

Police Arrest Four, Neutralise Two Kidnappers in Adelabu Family Abduction, Uncover Extensive Surveillance Network

June 8, 2026

The Oyo State Police Command has revealed that the kidnapping of the younger sister of former Minister of Power, Chief Adebayo Adelabu, and her twin sons was the outcome of a carefully coordinated surveillance operation by a criminal syndicate that monitored the

News·Top Stories

Obi Condemns Ethnic Profiling in Crime Reporting, Calls for National Unity

June 8, 2026

The National Democratic Coalition (NDC) presidential candidate for the 2027 elections, Peter Gregory Obi, has warned that the growing practice of associating crime with particular ethnic groups risks deepening divisions and undermining efforts to build a united Nigeria, Prime Business Africa reports.

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Latest

Dollar Trades At N1,362/$ In Official Window, Pound Rate Drops To N1,820/£

NGX Market Cap Closes At N156trn, Stock Traders Gain N714bn Within Eight Hours

Abducted Oyo School Principal Denies Reports of ₦1bn Ransom, Sharia Demand in New Captivity Video

Nigeria’s Trade Surplus Rises to N7.55tn, as Import Squeeze Reshapes External Balance in Q1 2026

FG Prioritises Small Contractors in Fresh Payment Drive to Unlock Stalled Projects

Fortis Global Insurance Is Running Out Of Cash As Firm’s Loss Increases By 452%

Travel to Serve or Travel to Be Kidnapped? Rising Insecurity Fuels Calls to Rethink NYSC

Police Arrest Four, Neutralise Two Kidnappers in Adelabu Family Abduction, Uncover Extensive Surveillance Network

Obi Condemns Ethnic Profiling in Crime Reporting, Calls for National Unity

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