On Friday, at least 1,500 employees of the Central Bank of Nigeria will begin work at its Lagos office after being redeployed from the headquarters. Despite facing criticism, the plan is still moving forward, according to a source at the…
By Matthew Denis As the world marks 2024 World Neglected Tropical Diseases (NTD), Day, the World health Organization (WHO), Regional Director Matshidiso Moeti has urged for Global Unity, Action, and Elimination of Neglected Tropical Diseases. Speaking to commemorate this years…
Leading banking and development experts are urging the Federal Government to involve Microfinance Banks (MFBs) in the distribution of poverty alleviation funds. These experts believe that by including MFBs, the government can better achieve the objectives of its poverty alleviation…
By Sodiq Adelakun PwC Nigeria’s Economic Outlook for 2024 has indicated potential difficulties for Nigeria in managing its debt servicing next year, attributing the issue to fluctuations in the foreign exchange market. The report outlines seven key trends expected to…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has taken decisive action to alleviate the persistent backlog of confirmed foreign exchange (forex) transactions by introducing an additional $500 million into the market. This strategic move follows closely on the…
Dangote refinery is preparing to import crude from the US in the forthcoming months, signalling the increasing competitiveness of American barrels in the global market. This is according to reports from Bloomberg. Traders’ familiar with the matter disclosed that Trafigura…
Financial experts have advised the Nigerian government on how to stabilise the Naira against the US dollar in the foreign exchange market. The Naira was quoted at N891.90 per dollar on Friday, while it stood at N1,420 per dollar on…
…Cancels, completes activities in project restructuring effort By Sodiq Adelakun The Innovation Development and Effectiveness in the Acquisition of Skills (IDEAS) Project in Nigeria, which was launched with a funding of $200 million, is set to undergo significant changes to…
By Sodiq Adelakun The number of registrations for the Bank Verification Number (BVN) in Nigeria has surged to 60.49 million as of January 26, 2024, according to data released by the Nigeria Inter-Bank Settlement System (NIBSS). This indicates that 291,232…
By Sodiq Adelakun The Nigerian Naira hit a new record low on Thursday, reaching N1,410 per dollar on the parallel market, commonly known as the black market. This represents a 3.29 percent decrease compared to the previous day’s closing rate…
