The devaluation of the Naira resulted in a forex gain of N8.6 billion for the Nigeria Identification for Development (ID4D) project, through which international financiers led by the World Bank are pushing for the enrollment of all Nigerians for the…
By Esther Agbo Nigerians spent $38.17 million on foreign education in the first quarter of 2024, according to the Central Bank of Nigeria’s latest statistical bulletin. This figure marks an 83 percent decline from the $218.87 million spent during the…
By Seun Ibiyemi The Central Bank of Nigeria has warned authorised forex dealers against defacing/stamping US Dollar banknotes and continued rejection of old series and lower denominations of the United States of American dollars by its regulated entities in Nigeria.…
Last week, President Bola Ahmed Tinubu demonstrated astute leadership by implementing a temporary restriction on foreign travels for ministers and government officials. This timely move followed revelations of unnecessary expenditure, exemplified by the Office of the Accountant-General of the Federation…
By Sodiq Adelakun In a recent turn of events, the Nigerian Naira has taken a steep dive in the parallel market, hitting a new low against the Great Britain Pound (GBP). As of the latest reports, the Naira has depreciated…
Justice Lewis Allagoa of a Federal High Court in Lagos, on Monday, struck out the charge against 19 Bureau De Change (BDC) Operators, following the withdrawal of the case. The suspects are Ibrahim Jubril, Abdullahi Abubakar, Ibrahim Hassan, Adamu Isiaka,…
The Chairman, United Nigeria Airlines Company, Prof. Obiora Okonkwo has urged the Federal Government to consider the aviation industry a critical sector by making deliberate policies for a single digit loan and access to foreign exchange by operators. Okonkwo made…
In a concerted effort to safeguard Nigeria’s foreign exchange market and combat speculative activities, the Office of the National Security Adviser (ONSA) and the Central Bank of Nigeria (CBN) are joining forces to address challenges impacting the nation’s economic stability.…
Association for Hajj and Umrah Operators of Nigeria (AHUON), has identified instability in the foreign exchange (forex) market as a major threat to the Hajj and Umrah industry in the country. The outgoing President of AHOUN, Alhaji Nasidi Suleiman, stated…
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, says the value of the Naira is determined by the availability of foreign exchange. Cardoso said this on Tuesday in Abuja while addressing the House of Representatives on Naira…
