Nigeria’s money supply experienced its first decline in 2025, dropping to N110.32tn in February from N110.94tn in January, according to data from the Central Bank of Nigeria (CBN). The 0.56 per cent month-on-month decrease comes amid the apex bank’s ongoing…
The Naira appreciated on Monday at the official market, trading at N1,531.19 to a dollar. Data from the Central Bank of Nigeria (CBN) website showed that the Naira gained N5.70. This represents a 0.37 per cent gain when compared to…
Dangote Petroleum Refinery has announced a temporary suspension of petroleum product sales in Naira, citing the need to align its sales currency with its crude oil procurement obligations, which are currently denominated in U.S. dollars. In a statement issued on…
The Central Bank of Nigeria (CBN) has expressed deep concern over the increasing prevalence of unlawful transactions involving the Naira, calling for urgent measures to curb the trend. CBN Governor, Olayemi Cardoso, made this known during the Bank’s Security Workshop…
By Mathew Dennis The Nigerian National Petroleum Company Limited (NNPC Ltd) has denied reports alleging that it has unilaterally stopped supplying crude oil to Dangote Refinery under the Naira crude contract. In a statement issued on Monday, NNPC Ltd’s Chief…
The naira on Monday witnessed further depreciation as it fell sharply to N1,530 on renewed dollar shortage at the official Foreign Exchange (FX) market. After trading on Monday, the naira lost N19.91 or 0.8 percent as the dollar was quoted…
The naira is expected to maintain stability this week and beyond as the Central Bank of Nigeria (CBN) continues to intervene in the foreign exchange (FX) market. The CBN had directed the Bureau De Change Operators (BDCs) to purchase $25,000…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) intervened in the foreign exchange market with the sales of $66 million to authorised dealer banks. Due to supply side shortfall, the naira has been under pressures for two weeks after…
The naira appreciated further in the parallel market, popularly called black market, on Thursday, a day after the Central Bank of Nigeria (CBN) issued new directives on the purchase of dollars by the Bureau De Change (BDCs). The naira strengthened…
The naira on Wednesday appreciated to N1,590 per dollar, crossing the N1,600 psychological point in the black market. Compared with the past month, the naira has gained 4.7 percent, rising by N75 from N1,665 traded at the beginning of the…
