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CBN
After two days of substantial depreciation in a week characterized by significant volatility in the foreign exchange market, the naira showed signs of stabilizing as it closed at N1,485.99/$1 on Friday, May 31, 2024.
Naira has experienced substantial fluctuations making it difficult for businesses to predict costs and revenues accurately, complicating financial planning and budgeting processes.
EFCC is seeking a final forfeiture order of the Federal High Court Lagos against a $1.4 million allegedly linked to the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, including his multi-million-naira properties.
The naira suffered a significant depreciation on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window, falling to N1,329.65/$1 on Wednesday, May 29, 2024.
The exchange rate for the Nigeria Customs Service (NCS) import duties collection has dropped by N153.1 from N1480/$ to N1,327.5 to the USD. This represents a decline of 10.34% since May 27th, 2024, when the exchange rate for the service stood at N1,480/$.
The naira surged N1,1173.88/$1 on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window on Tuesday, marking an increase of 14.09% from the previous day's rate.
Though some critical policies were introduced in the period, the forex crisis took the shine for tech business, like other businesses in the economy
According to the FCCPC database, a total of 232 companies have been granted full approval to operate as digital lenders in the country while 41 companies have conditional approval.
The Federal High Court Abuja has dismissed SERAP's suit seeking details of COVID-19 donations.
CBN Governor underscored the nuanced nature of combating inflation, emphasizing that there is no “magic wand" solution.
The Chartered Institute of Stockbrokers (CIS) and Association of Securities Dealing Houses of Nigeria (ASHON) have expressed concern over the proposed amendment of the Central Bank of Nigeria (CBN) Act No. 7 of 2007 seeking to subject the annual budget of the CBN to approval from the National Assembly
Nigerian Exchange Limited (NGX) says that the total domestic and foreign portfolio transactions in Nigeria’s equity market amounted to N346.23 billion in April 2024.