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CBN
A recently released report by the National Bureau of Statistics (NBS) revealed that only 7% of farming communities report receiving micro-credits from banks in Nigeria as of 2022.
The Governor of the Central Bank, Yemi Cardoso, stated that the country has already experienced the worst of naira volatility regarding foreign exchange.
The naira has weakened further against the US Dollar, falling to N1,500.79/$1 on the official market on June 25, 2024.
The governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has said that the country recorded a total foreign exchange inflow of about $24 billion in the first quarter of 2024.
The Central Bank of Nigeria (CBN) has permitted eligible International Money Transfer Operators (IMTOs) to sell foreign exchange (FX) on Nigeria's official window.
The foreign exchange rate for import duties collection by the Nigeria Customs Service (NCS) has stayed at N1474/$ in the last three weeks consecutively- the longest duration since January.
The naira traded in the N1500 range against the greenback at the parallel market, while the U.S. dollar index rallied to its eight-week high in the broader market.
Global ratings agency, Moody’s has stated that Nigeria’s interest spending on debt might consume up to 36% of the federal government’s revenue in 2024.
Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), has emphasized the necessity of maintaining higher interest rates to address the persistent inflation issues plaguing the Nigerian economy.
The Securities and Exchange Commission (SEC) has published its comprehensive framework for the 2024 banking sector capitalisation programme.
Nigeria's foreign exchange (FX) reserves have surged to their highest level since March 28, 2024, marking a significant financial milestone that coincides with the longest period of stable exchange rate seen in over a year.
Mr. Sam Onukwue is the Chairman of the Association of Securities Dealing Houses of Nigeria (ASHON) and a Fellow of the Chartered Institute of Stockbrokers (CIS).