Fakoyejo Olalekan, Author at Prime Business Africa

Stock Investors In Nigeria Lose N105.77bn, Abbey Mortgage Bank Among Losers

The market valuation of the Nigerian stock exchange dropped by N105.77 billion to N32.12 trillion market capitalisation on Friday, 16 June, from N32.23 trillion posted on Thursday. This was due to the

Fakoyejo Olalekan

June 16, 2023

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

Fakoyejo Olalekan

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

Fakoyejo Olalekan

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

Fakoyejo Olalekan

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

Fakoyejo Olalekan

June 16, 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

Fakoyejo Olalekan

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

Fakoyejo Olalekan

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.

Fakoyejo Olalekan

June 15, 2023

Breaking: CBN Raises Interest Rate To 18.75%

Business·Currency

CBN To End RT200 FX, Naira4Dollar Schemes After Black Market And Official Rates’ Gap Fall By N192

The RT200 FX Programme and the Naira4Dollar scheme will be phased out by the Central Bank of Nigeria (CBN) following the apex bank’s decision to unify the multiple exchange rates. According to

Fakoyejo Olalekan

June 15, 2023

Naira Records First Major Depreciation At Official Market In 2025

Business·Currency

Black Market And Official Dollar Rates’ Gap Drop By 66% To N96

On Wednesday, foreign exchange investors and exporters in the official and black markets saw the gap between both markets’ dollar rates shrink by 66.6%. This represents a reduction of N192.37, as the

Fakoyejo Olalekan

June 15, 2023

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Fakoyejo Olalekan

Stock Investors In Nigeria Lose N105.77bn, Abbey Mortgage Bank Among Losers

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

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

CBN To End RT200 FX, Naira4Dollar Schemes After Black Market And Official Rates’ Gap Fall By N192

Black Market And Official Dollar Rates’ Gap Drop By 66% To N96

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