Economy

Tinubu Defends $21.7 Billion Borrowing Push, Ties Loans to $1 Trillion Economy Goal

by Victoria Attah

October 30, 2026

Home Category Economy

Economy

Naira Crashes to 710 on the Black Market

Market Cheers CBN Reforms as Naira to N1300 Against Dollar

In a notable turn of events, the financial markets in Nigeria responded positively to recent reforms implemented by the Central...

Nigerian Companies Struggle to Meet Obligations, Urgent Solutions Needed, NBCC Warns

by Victoria Attah

The Nigerian British Chamber of Commerce (NBCC) has raised alarms about the challenges faced by well-established companies in Nigeria, urging...

CBN Revises Cash Reserve Ratio for Merchant Banks, Slashing it to 10%

CBN Imposes Ban on Banks and Fintechs From International Money Transfers

by Victoria Attah

In a pivotal move, the Central Bank of Nigeria (CBN) has officially prohibited banks and financial technology companies (fintechs) from...

Shell Reports $6.2 Billion Profit for Q3, 2023

Shell Plans $23 Billion Dividend for Shareholders in 2023

Shell Plc has announced a significant return to its shareholders, totaling $23 billion for the fiscal year 2023. The disclosure...

Rising Costs, Currency Devaluation, and Policy Changes Dampen Nigerian JAPA Dreams

Nigeria is currently experiencing one of its worst socioeconomic crises in decades, coupled with widespread insecurity. The rising food prices...

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

Revelation: Nigeria Lifts Forex Caps to Attract Billions from Residents Abroad

Nigeria's central bank has recently implemented a series of pivotal reforms aimed at unlocking the vast potential of remittances from...

Naira Strengthens as Anticipation Mounts for $10 Billion Forex Inflows

Naira Surges Overnight: Jumps from 1550 to 1400 Against the Dollar – Reasons Behind the Surge

by Jide Omodele

In a surprising turn of events, the Nigerian Naira has undergone a notable resurgence in the foreign exchange market, swiftly...

CBN Supplies $29.5 Million at FX Auction as Naira Depreciates at I&E Window.

Banking

CBN Directs Banks to Sell Excess Dollar Holdings Within 24 Hours

The Central Bank of Nigeria (CBN) has issued a directive ordering Deposit Money Banks to sell their surplus dollar holdings...

Dollar Index Loses Steam as Treasury Yields Drift Back to 4.8%

CBN’s Bold Move: See what would happen to your dollar

January 31, 2024

The Central Bank of Nigeria (CBN) has recently unleashed a transformative circular, titled "Harmonisation of Reporting Requirements on Foreign Currency...

Banking

Breaking: CBN Implements Stringent Measures on Banks’ Foreign Currency Exposures