NGX Witnesses 36% Decline in April Transactions, NGX Reports
In April 2024, the Nigerian Exchange Limited (NGX) disclosed that the total transactions, both domestic and foreign, within the nation's...
Naira Stabilizes at N1,500/$ Amid EFCC Crackdown on Street Trading
The naira has held steady against the dollar in the parallel market, trading at N1,500/$1 on Friday, an improvement from...
Nigeria’s Foreign Exchange Struggles Lead to Extended Timelines for Letters of Credit
Nigeria is grappling with a significant decline in foreign exchange reserves, leading to extended timelines for issuing letters of credit...
CBN Raises N638.98 Billion in Treasury Bill Auction as Yields Surge to 26%
The Central Bank of Nigeria (CBN) successfully raised N638.98 billion through its latest treasury bill auction held on May 22,...
Nigerian Tier-1 Banks Earn N392 Billion from E-Business in 2023
In 2023, Nigeria's leading banks collectively generated N392 billion from electronic business, driven by a shift towards cashless transactions encouraged...
EFCC Arrests Over 200 BDC Operators for Forex Fraud
The Economic and Financial Crimes Commission (EFCC) has apprehended more than 200 individuals linked to foreign exchange fraud and financial...
Naira Devaluation Drives Diesel Price Surge at Dangote Refinery
The cost of diesel produced by Dangote Petroleum Refinery has surged from N940 per litre to N1,100 per litre, driven...
Private Sector Concerned Over New 26.25% Interest Rate Amid Loan Repayment Worries
Economists and members of the Organised Private Sector (OPS) have raised alarms over the Central Bank of Nigeria's (CBN) latest...
Forex Supply Soars 66% as CBN Hikes Interest Rates
Nigeria has recorded a significant 66% increase in foreign exchange (FX) supply, reaching $15.2 billion through the official market window,...
Foreign Portfolio Outflows Surge by 237% in Q1 2024 Amid CBN Reforms
Foreign portfolio investment (FPI) outflows from Nigeria have surged dramatically by 237% in the first quarter of 2024 compared to...
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