Top 10 fastest growing sub-sectors of Nigeria’s economy in Q1 2024
Nigeria’s gross domestic product (GDP) in the first quarter (q1) of 2024 grew by 2.98%, higher than the 2.31% seen ...
Tag: Foreign Exchange
Foreign exchange swaps fuelling decline in Nigeria’s FX reserves – MPC member
A member of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), Bamidele A.G. Amoo, has said ...
Wema Bank reports 193% PBT growth, proposes N0.50 dividend
Wema Bank has reported a profit before tax of N43.64 billion for the year ended 31 December 2023.
Naira gains whopping 21.8% against dollar in March 2024, best in 5 years
The Nigerian Naira appreciated significantly against the US dollar throughout March 2024, marking a major turnaround for Nigeria's exchange rate ...
CBN ‘lacks liquidity to support naira’ as derivative deals overwhelm FX reserves – EIU
The Central Bank of Nigeria (CBN) faces a significant liquidity crisis in supporting the naira, as nearly $20 billion of ...
CBN plans $10,000/year limit on foreign school fees from BDCs
The Central Bank of Nigeria (CBN) plans to introduce stringent measures on the purchase of foreign currencies through Bureau De ...
CBN edges towards free float of naira with discontinuation of cap on forex transactions
The Central Bank of Nigeria (CBN) has announced significant reforms in the foreign exchange market, signaling a stride towards a ...
Reps claim four banks have $5 billion excess FX, to probe non-compliance to CBN’s directives
The House of Representatives asserted on Wednesday that four banks are holding approximately $5 billion in surplus foreign exchange, signaling ...
FX Crisis: Exchange rate for cargo clearance jumps by 4.4% from N1356.8/$ to N1413.6/$ in 24 hours
The exchange rate for cargo clearance witnessed an increase to N1413.6/$ barely 24 hours after CBN, raised the rate N1, ...
Forex crisis: FG Begins talks with World Bank, solution underway
Minister of Finance, Wale Edun, has assured Nigerians that solution to the foreign exchange crisis in the country is underway.
