Since 2018, the Africa Investment Forum (AIF) has generated investment interest of almost $142 billion, according to the African Development Bank (AfDB). The AIF is a platform that brings together project sponsors, policy makers and investors to facilitate dealmaking across…
The Association of Bureau de Change Operators of Nigeria has issued a stern warning to currency speculators amid the Naira rebound against the Dollar in the foreign exchange market. President of ABCON, Aminu Gwadabe, in a recent statement reacting to…
By Sodiq Adelakun The Nigerian foreign exchange (FX) market opened on Monday with the naira/dollar exchange rate quoting at N1,020 This comes after the naira strengthened to 970 per dollar on the black market over the weekend following some positive…
By Sodiq Adelakun The black market exchange rate for the Nigerian naira has improved, with the currency now valued at N970 per dollar. This positive development is a result of increased confidence in the government’s efforts to enhance dollar liquidity…
The Pension Transitional Arrangement Directorate (PTAD) has successfully distributed N1.023 billion to 7,091 pensioners from the Power and Transport Sectors under the Parastatals Pensions Department (PaPD). According to the Head of Corporate Communications at PTAD, Mr. Gbenga Ajayi the payment…
An expert, Enobong Umoessien has urged the government and other stakeholders to take decisive action in promoting Small and Medium Enterprises (SMEs) in order to foster economic growth in the country. Umoessien, who serves as the Head of Division and…
The Association of Bureau De Change Operators of Nigeria (ABCON), has revealed why the Naira is regaining strength against the dollar. “The development stems from the ‘double-edged sword dollar liquidity injection and the mopping up of the naira through interest…
By Sodiq Adelakun In recent weeks, reports of a scarcity of naira notes have emerged from various parts of Nigeria, causing concern among citizens and businesses alike. However, the Central Bank of Nigeria (CBN) has come forward to shed light…
In a significant move to address the foreign exchange crisis in Nigeria, the Central Bank of Nigeria (CBN) has reportedly started clearing over $10 billion in foreign exchange backlogs for commercial banks and airline operators. A source from a Tier-1…
The Nigerian Deposit Insurance Corporation (NDIC), said it has paid N16 billion in liquidation dividends to depositors, creditors and shareholders of banks in liquidation in the past 20 years. The Principal Manager, NDIC Kano Zonal Office, Ms Hajara Imam stated…
