… 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…
An expert, Prof. Akpan Ekpo, has urged the Central Bank of Nigeria (CBN) to prioritize the currency swap agreement with the Peoples Bank of China (PBoC) in order to reduce reliance on the US dollar for trade. Ekpo, a former…
By Sodiq Adelakun In the first three months of 2023, the Federal Government of Nigeria faced a significant fiscal challenge as its expenditure exceeded revenue by N1.43tn, according to data obtained from the Central Bank of Nigeria (CBN). This figure…
Research by ONE has revealed that African countries will pay $56 billion more on debt raised on capital markets between 2017 and 2021. The research also stated that “If average interest rates on bonds increase by 1% more, interest would cost…
The naira apprepreciated against the dollar on Friday as it exchanged at N740.38 at the Investors and Exporters window. The naira gained by 2.93 per cent compared to the N762.71 it exchanged for the dollar on Thursday. The open indicative…
Providus Bank has reaffirmed its commitment to the growth of Nigeria’s export-based economy. The bank’s Managing Director/CEO, Walter Akpani, made this commitment at the bank’s third Non-Oil Export Summit in Lagos. The summit series was introduced as part of the…
