Naira Hits Record Low, Trading at N1348.63/$ on Official Market
The Nigerian Naira reached an unprecedented low of N1348.63 against the US Dollar on the official Nigerian Autonomous Foreign Exchange ...
Tag: CBN
CBN Relocates 1,500 Staff to Lagos Office Amidst Controversy
At least 1,500 employees of the Central Bank of Nigeria (CBN) are set to resume operations at its Lagos office ...
CBN Releases $500 Million to Tackle Forex Transaction Backlog
The Central Bank of Nigeria (CBN) has taken a significant step in addressing the backlog of verified foreign exchange transactions ...
Nigeria’s inflation rate projected to hit 21.5% in 2024
Nigeria's inflation is expected to decline to 21.5% in 2024 from the 24.5% recorded in 2023, according to the 2024 ...
EFCC Investigates Alleged Forex Scandal, Summons Foreign Firms
The Economic and Financial Crimes Commission (EFCC) is intensifying its investigation into an alleged forex scandal, probing at least $347 ...
Nigeria’s Non-Oil Exports Plunge 24% to $4.46 Billion Despite Government Efforts
In a significant setback for Nigeria's economic diversification goals, non-oil exports earnings witnessed a stark decline of 24% year-on-year, falling ...
Nigeria Anticipates Significant Rate Hike in First CBN Meeting Since July
Nigeria is gearing up for a substantial interest rate increase, potentially reaching 500 basis points, during the upcoming monetary policy ...
Forex Reserves Rise to $33.2 Billion
Nigeria's foreign exchange (forex) reserves have experienced a notable increase, reaching $33.25 billion, driven by optimism regarding potential surpassing of ...
CBN still short of forex to clear backlog- Fitch
Fitch, a prominent global credit rating agency, has highlighted that the Central Bank of Nigeria (CBN) continues to grapple with ...
Foreign Airlines Repatriate N795.48bn from Nigeria in Six Months
Foreign airlines have repatriated a total of N795.48 billion ($1.76 billion converted at N451/$) from Nigeria in the first and ...
