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CBN
Foreign portfolio investment (FPI) outflows surged by 237% in the first quarter (Q1) of 2024 compared to the same period in 2023.
Naira appreciated slightly on the official market, despite a substantial 66% increase in foreign exchange (FX) supply and a new rate hike by the Central Bank of Nigeria (CBN).
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso has stated that the bank aims to double diaspora remittance inflow within this year.
The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has listed high foreign exchange rate on imported food items, insecurity in farming communities as some of the key factors driving food inflation in the country.
A recent report from Agora policy has opined that the recent depreciation of the naira in May reflects the lack of efforts on the part of the Central Bank of Nigeria (CBN) at securing large forex inflows to boost supply liquidity.
The Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) has increased the benchmark interest rate by 150 basis points to 26.25% from 24.75%.
The naira stayed around a key support line in the country's unofficial market as analysts expect Nigeria’s apex bank to increase interest rates later today.
Nigeria’s central bank monetary policy committee will announce to the world on Tuesday, May 21, 2024, whether they will continue with their hawkish monetary policy of raising rates or shock everyone by leaving it untouched.
The Nigeria Deposit Insurance Corporation(NDIC) has said it will pay depositors of closed microfinance and primary mortgage banks after recovering debts from those owing the failed banks, among others.
Nigeria's foreign exchange (FX) reserves have increased by approximately $535 million over the past 28 days, as the official market continues to grapple with a scarcity of dollars.
Starlink's customers in Nigeria increased to 23,897 at the end of last year to become one of the leading ISPs in the country.
Japan's $60 billion intervention failed to strengthen the Yen, while Nigeria's similar strategy hasn't stabilized the Naira either.