Ajibola

Investors Gain N677 Billion as Nigerian Stock Market Maintains Uptrend

On Thursday, investors enjoyed a substantial gain of N677 billion as the Nigerian stock market continued its upward trajectory. Market capitalization rose by 0.92%, closing at N74.358 trillion, up from N73.681 trillion the previous day. Market data revealed that the All-Share Index (ASI) increased by 1,074.26 points, or 0.92%, reaching 117,861.13, compared to 116,786.87 on…

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Nigeria Now Has 65 CNG Stations for Affordable Gas – PCNGI

The Nigerian government, through the Presidential Compressed Natural Gas Initiative (PCNGI), has announced the establishment of 65 CNG stations across the country. This initiative coincides with the launch of a new gas pricing framework aimed at making compressed natural gas more accessible and affordable for Nigerians. Michael Oluwagbemi, the Chief Executive of PCNGI, shared this…

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CBN Instructs Banks to Halt Dividend Payments to Foreign Subsidiaries

Ajibola Olarinoye The Central Bank of Nigeria (CBN) has instructed banks operating under regulatory forbearance to suspend dividend payments and bonuses to their foreign subsidiaries and ventures. This directive was communicated in a circular released on Friday by Olubukola Akinwunmi, the director of banking supervision at the CBN. The CBN stated that this action is…

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IPMAN Advocates for Dangote to Set PMS Price at N770 per Litre

Ajibola Olarinoye The Independent Petroleum Marketers Association of Nigeria (IPMAN) has suggested that Dangote Refinery should price premium motor spirit (PMS) at approximately N770 per litre. Chinedu Ukadike, the spokesperson for IPMAN, made this statement on Monday in response to remarks from businessman Aliko Dangote, who claimed that Nigeria’s petrol is relatively inexpensive, with his…

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Naira Achieves Largest Gain Against Dollar in Official Forex Market

Ajibola Olarinoye  On Wednesday, the naira experienced its most significant single-day appreciation against the dollar in the official foreign exchange market, continuing a three-day upward trend. According to data from the Central Bank of Nigeria, the naira strengthened to N1,565.46 per dollar, up from N1,579.27 on Tuesday. This represents a notable increase of N13.81 against…

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