Economy

February 8, 2024

According to data released by the Nigeria Inter-Bank Settlement Systems (NIBSS), licensed mobile money operators like Opay, Palmpay, and 15...

CBN Allows Oil Companies to Resume Dollar Sales to Banks in Effort to Boost Supply.

Currencies

No Plan to Convert Domiciliary Account Dollars to Naira Vows CBN

Olayemi Cardoso, the governor of the Central Bank of Nigeria (CBN), attributed the depreciation of the naira to the increasing...

Economy

A Slow Fiscal Death’ Awaits Some Countries in this ‘decade of debt -Arthur Laffer

by Victoria Attah

In a stark prediction, economist Arthur Laffer has issued a warning about an impending debt crisis that could haunt the...

Economy

FG Denies Food Shortage As the Cause of National Protests

by Akpan Edidong

In response to mounting protests over high prices and alleged food shortages in some states, the Chief of Staff to...

Banking

Interest Rates Expected to Rise as CBN Plans Record N1 Trillion Treasury Bill Auction

Recent indications point towards a potential increase in Nigeria's interest rates ahead of the upcoming treasury bills auction, signaling a...

Naira-Dollar Exchange Rate Plummets to Lowest Ever at N803/$1

Currencies

Naira Weakens at Official Market as Banks Sell $584 Million

The official Nigeria Autonomous Foreign Exchange Market witnessed a surge in foreign exchange transactions, reaching a staggering $584 million, as...

Commodities

British Oil Giant Shares Surge 5% as Oil Giant Unveils Shareholder Return Plan

Shares of BP rallied over 5% on Tuesday following the British oil giant's announcement to bolster shareholder returns through increased...

Nigeria Plans New FX Rules, Targeting 750 Naira Exchange Rate

Currencies

Naira Maintains Gains on CBN’s FX Policies as Naira stands at N1419/$

The Nigerian foreign exchange (FX) market remained stable on Monday, with the naira sustaining gains attributed to recent policy interventions...

Global Surge in Wheat Prices Moves African Food Producers to source for Cheaper Alternatives

Agriculture

TAAT Reveals: African Nations Spend $20 Billion Annually on Wheat Imports

by Victoria Attah

The Head of Technologies for African Agricultural Transformation (TAAT) Clearinghouse, Dr. Solomon Gizaw, has raised concerns over Africa's heavy dependence...

Nigeria’s non-oil export earnings hit $75m in two months.

Business

Financial Expert Urges Government Action to Boost Naira Through Export Sector