…As FG targets $10bn to strengthen Naira By Sodiq Adelakun In a bid to stabilise the Nigerian foreign exchange market and curb the detrimental impact of speculative activities, the Office of the National Security Adviser (ONSA) has partnered with the…
…AfDB President lauds 15 African countries for surpassing 5% output growth By Sodiq Adelakun Africa’s real Gross Domestic Product (GDP) growth is predicted to reach an average of 3.8 percent and 4.2 percent in 2024 and 2025, according to the African…
The Naira depreciated further to N1,534/$ on Monday according to data on the Central Bank of Nigeria and FMDQ website. This is a landmark as it is the first time the dollar would be exchanging at over N1,500 since the…
…Halts payment of BTA/PTA in cash …Cacophony of postulations affecting stability of Fx market — Tinubu tells Govs By our correspondents The Central Bank of Nigeria (CBN) has issued a new directive to International Oil Companies (IOCs) operating within the country…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has issued new directives to International Oil Companies (IOCs) operating within the country, aimed at regulating the repatriation of export proceeds to their offshore accounts. In a bid to maintain liquidity…
By Matthew Denis, Abuja Nigeria has experienced a surge in its inflation rate, reaching 29.90 percent, up from the previous month’s 28.92 percent, indicating a 0.98 percent increase and highlighting the persistent acceleration of inflation in the country. The National…
By Sodiq Adelakun In a continued economic downturn, the Nigerian naira has taken a significant hit, plunging below the N1,600 mark against the US dollar on Thursday. The persistent decline has raised concerns over the effectiveness of the Central Bank…
Fidelity Bank Plc has announced its Board of Directors’ decision to extend the employment contract of its GMD/CEO, Nneka Onyeali-Ikpe, from 2024 to 2026. The decision was taken at the Board meeting on February 12, 2024, according to a notice…
By Sodiq Adelakun In a remarkable turn of events, Nigeria’s mining and quarrying sector has seen an unprecedented surge in bank loans in the third quarter of 2023. According to the Central Bank of Nigeria’s (CBN) latest quarterly statistical bulletin,…
The Debt Management Office (DMO) is opening an offer to sell a total of N2.5 trillion FGN bonds to members of the public this month. The offers are split into N1.25 trillion for a 7-year tenure and N1.25 trillion for…
