By Sodiq Adelakun In the unofficial foreign exchange (FX) market, known as the parallel market, the Nigerian naira weakened to N930 to dollar on Thursday. This decline was driven by the growing demand for dollars, which Nigerian banks were unable…
Afreximbank and the Anambra State Government have inked a Memorandum of Understanding (MoU) to establish bankability for key projects, including the Ikenga Mixed-Use Industrial City, the Anambra Export Emporium and the Akwaihedi Unubi Uga Automotive Industrial Park. Under the terms…
By Sodiq Adelakun In the unofficial foreign exchange (FX) market, known as the parallel market, the Nigerian naira weakened to N930 to dollar on Thursday. This decline was driven by the growing demand for dollars, which Nigerian banks were unable…
The Central Bank of Nigeria (CBN) is set to crack down on Bureau De Change (BDC) operators involved in illegal transactions. The apex bank has completed an investigation into one BDC called Crown Agent and will soon take action against…
The World Bank’s Country Director for Nigeria, Mr. Shubham Chaudhuri, has highlighted the country’s remarkably low levels of public spending compared to the rest of the world. According to Chaudhuri, Nigeria’s government expenditures are among the lowest globally, hindering the…
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…
