The Debt Management Office (DMO) experienced a positive growth in its treasury bills (T-bills) sales, with a total value of N406.10bn sold across auctions in July 2023. This marked a 0.39 per cent increase compared to the N404.51bn sold in…
…Transaction volume soars by 138.57% By Sodiq Adelakun Naira experienced a remarkable gain of 4.79 percent against the US dollar on Wednesday at the Investors and Exporters (I&E) forex window. This positive development was attributed to increased liquidity in the…
By Sodiq Adelakun In a dance to economic fluctuations, Naira has taken a graceful step back, devaluing by 0.42% against the mighty US Dollar. As the curtains rise on the stage of foreign exchange rates, the Naira has found itself…
By Sodiq Adelakun Data released by the Central Bank of Nigeria (CBN) has revealed that the Federal Government of Nigeria spent $1.17 billion to service its foreign debt in the first half of 2023. The report reveals that in January…
The World Bank has urged the federal government to prioritize the effective use of public funds. The bank’s Country Director, Mr Shubham Chaudhuri, made this known during a courtesy visit to the Minister of Budget and Economic Planning, Atiku Bagudu,…
Access Pensions surpasses N1trn in assets under managemenAccess Pensions Limited, a subsidiary of Access Corporation, has achieved a significant milestone by surpassing the N1 trillion mark in assets under management (AUM). This achievement comes just six months after the company’s…
The Central Bank of Nigeria (CBN) has made a significant repayment towards the Nigeria-China currency swap agreement, with 5.10 billion Chinese yuan (CNY) already repaid out of the 6 billion utilised. This repayment comes as the agreement is expected to…
By Sodiq Adelakun Naira has hit a new low against the US dollar, reaching N920 at the parallel segment of the foreign exchange market. The decline is a result of strong demand for the greenback, with dealers buying from willing…
By Sodiq Adelakun In a concerning trend, commercial banks and merchant banks in Nigeria have shown an increasing dependence on the Central Bank of Nigeria (CBN) for liquidity. Recent data from the CBN reveals a significant surge in borrowing from…
By Sodiq Adelakun Naira has experienced a significant decline of 2.23 per cent against the dollar in the past month. This depreciation can be attributed to the persistent rise in demand for the greenback in the parallel foreign exchange market…
