The Acting Governor of the Central Bank of Nigeria, Folashodun Shonubi, has announced that the bank will repay all outstanding forward contract debts owed to banks within the next one to two weeks. While the total amount of the debts…
…External debt to W’ Bank reaches $14.33bn — DMO By Sodiq Adelakun Nigeria, a nation struggling with economic difficulties, is facing a delicate predicament as it currently possesses an unallocated World Bank loan amounting to around $8.25 billion as of…
By Sodiq Adelakun In the period between January and July 2023, the foreign exchange turnover on the FMDQ reached an impressive $44 billion (equivalent to N22.98 trillion), according to the August edition of the FMDQ Spotlight, a monthly publication by…
Gastech 2023, the world’s largest meeting place for natural gas, LNG, hydrogen, low-carbon solutions, and climate technologies, opened yesterday welcoming record-breaking numbers to Singapore EXPO. The first day featured a range of insightful contributions from policymakers, CEOs, and business leaders…
The Federal Government has initiated the preparation of the 2024 budget through the Ministry of Budget and Economic Planning. The government plans to submit the budget in October 2023. As part of this process, the budget office of the federation…
… Apex bank contributes less than 25% of total volume — CBN Acting Gov. The Central Bank of Nigeria (CBN) has recently revealed its intention to resolve the unmet demand for foreign exchange (FX) among investors and exporters. To achieve…
By Sodiq Adelakun The Nigerian naira experienced a depreciation against the US dollar on Monday, as it was exchanged at a rate of N747.87 at the Investors and Exporters window. This marked a drop of 1.01 per cent compared to…
…declares interim dividend of 25 kobo per share Leading financial institution, Fidelity Bank Plc has recorded an impressive 204.4% growth in Profit Before Tax for the first half of 2023 to N76.3bn according to the bank’s recently issued financial result.…
By Sodiq Adelakun Nigeria has seen a significant increase in revenue from value-added tax (VAT) in the first half of 2023, according to data released by the National Bureau of Statistics (NBS). The country generated N1.49 trillion in VAT revenue…
By Sodiq Adelakun Nigeria’s external reserves experienced a slight uptick of $1.87 million, thanks to the policies implemented by the Central Bank of Nigeria (CBN) aimed at stabilising the foreign exchange market. This marginal increase of 0.005 percent brought the…
