FMDQ Securities market has reported a significant increase in its secondary market turnover for November 2023. The total turnover reached N27.9 trillion, marking a month-on-month increase of 28.43 percent (N6.17 trillion) and a year-on-year increase of 109.4 percent(N14.6 trillion) compared…
Nigeria has experienced a decline of $470.8 million in foreign direct investments over the past five years, according to analyses of Capital Importation reports by the National Bureau of Statistics. Foreign direct investment is defined as an ownership stake in…
By Sodiq Adelakun The World Bank’s latest Food Security Update has brought to light the significant impact of domestic food price inflation on various regions across the globe, with Nigeria, along with other African, North American, and Latin American nations,…
In a recent release by the National Bureau of Statistics (NBS), Foreign Direct Investment (FDI) into the manufacturing sector has seen a significant decline in the third quarter of 2023. The sector attracted $279.51 million in FDI, a sharp fall…
By Sodiq Adelakun The Naira concluded the year 2023 with a staggering 49 percent depreciation against the US Dollar. As of the last trading day of the year, the Naira was valued at N907.11 to a dollar, according to the…
…Learn from past mistakes to safeguard Nigeria’s economy — Expert tells CBN Amidst the persistent cash scarcity plaguing Nigeria, the Central Bank of Nigeria (CBN) has reported a significant increase in currency issuance within the first half of 2023. Despite…
In a recent interview with journalists in Abuja, Mr Okechukwu Unegbu, a financial expert and former president of the Chartered Institute of Bankers of Nigeria (CIBN), commended the Central Bank of Nigeria (CBN) for lifting the restrictions on cryptocurrency transactions.…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has issued a statement reassuring depositors that their funds in banks are secure. The CBN stated that it has become aware of reports in certain media outlets suggesting that the Federal…
In a significant move to bolster Nigeria’s infrastructure and social programs, the World Bank has approved a series of loans totaling $2.7 billion for the West African nation. The administration of President Bola Tinubu has secured this financial package amid…
The Nigerian Naira continued to hover near its low against the US dollar in the peer-to-peer (P2P) and physical black markets, as the possibility of the US Federal Reserve slashing interest rates in 2024 gained traction following the release of…
