States Strain Under Surging External Debt Servicing Costs, Hit N139.92 Billion in H1 2024
Nigerian states have faced unprecedented fiscal pressures in the first half of 2024, with external debt servicing costs soaring by...
CBN Clarifies Rules on Capital Importation Certificates for Forex Repatriation and Divestment
The Central Bank of Nigeria (CBN) has released a new circular providing clear guidelines on the procedures and documentation required...
Naira Strengthens Amid CBN’s Dollar Injection as Official and Parallel Markets React
The Nigerian naira has experienced a significant strengthening in the official foreign exchange market, marking three consecutive days of appreciation....
CBN Conducts $876 Million Auction to Bolster Naira, Drops 12-Month Forex Policy
The Central Bank of Nigeria (CBN) has taken a significant step to stabilize the naira by auctioning $876.26 million to...
Foreign Exchange Inflows Surge by 55% in First Half of 2024, Reaching $25.4 Billion
The Central Bank of Nigeria (CBN) has announced a remarkable 55% increase in net foreign exchange (FX) inflows, which reached...
Naira Strengthens for Third Day, Closes at N1,596.52/$1 on Wednesday
The Nigerian naira appreciated for the third consecutive day, closing at N1,596.52/$1 on the Nigerian Autonomous Foreign Exchange Market (NAFEM)...
Import Duty Waiver on Rice and Other Food Items to Begin Next Week – FG
The Federal Government has announced that the suspension of customs duty and taxes on imported food items will commence next...
Nigeria to Issue $500 Million USD Bonds, Aims for 200% Subscription
The Federal Government of Nigeria has unveiled its Series I Domestic USD Bond, aiming to raise a minimum of $500...
Dangote Refinery to Sell 12.5% Stake of NNPC Shares to Raise Funds
The Dangote Refinery has announced plans to sell a 12.5% stake to raise funds, according to a report by Fitch...
CBN Approves N700 Billion Bailout for Unity Bank-Providus Bank Merger
In a significant move to stabilize Nigeria's financial sector, the Central Bank of Nigeria (CBN) has approved a N700 billion...
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