Tag
FOREIGN EXCHANGE
Nigeria’s gross domestic product (GDP) in the first quarter (q1) of 2024 grew by 2.98%, higher than the 2.31% seen in the first quarter of 2023.
A member of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), Bamidele A.G. Amoo, has said that the decline in Nigeria’s foreign exchange (FX) reserves was mainly due to foreign exchange swap transactions.
Wema Bank has reported a profit before tax of N43.64 billion for the year ended 31 December 2023.
The Nigerian Naira appreciated significantly against the US dollar throughout March 2024, marking a major turnaround for Nigeria's exchange rate policy.
The Central Bank of Nigeria (CBN) faces a significant liquidity crisis in supporting the naira, as nearly $20 billion of its $33 billion in foreign reserves is tied up in various derivative deals.
The Central Bank of Nigeria (CBN) plans to introduce stringent measures on the purchase of foreign currencies through Bureau De Change (BDC) operators, with a specific focus on transactions related to overseas education and medical expenses.
The Central Bank of Nigeria (CBN) has announced significant reforms in the foreign exchange market, signaling a stride towards a market-driven exchange rate mechanism, potentially paving the way for a free float of the Naira.
The House of Representatives asserted on Wednesday that four banks are holding approximately $5 billion in surplus foreign exchange, signaling concerns about the volatility in Nigeria's foreign exchange market.
The exchange rate for cargo clearance witnessed an increase to N1413.6/$ barely 24 hours after CBN, raised the rate N1, 356.8/$.
Minister of Finance, Wale Edun, has assured Nigerians that solution to the foreign exchange crisis in the country is underway.
Inside the massive "japa" industry that's raking in millions of dollars for foreign schools, embassies, consultants, there can only be one loser.
Nigeria attracted a sum of US$1.060.73 as capital importation in Q4 2022, a sum lower than US$2.187.63 billion recorded in Q4 2021.