Tag: FX reforms

CBN’s Recapitalization Budget of $1 Trillion Sparks Debate Among Industry Stakeholders

CBN Governor Reports Sharp Decline in Market Volatility Due to FX Reforms

October 28, 2024

Central Bank of Nigeria (CBN) Governor Yemi Cardoso has highlighted a notable decline in market volatility, which he attributes to ...

Top Story: Tinubu Present N27.5 Trillion As 2024 Budget

Nigeria’s Forex Spending Drops to $1.5 Billion Monthly Post Tinubu’s FX Reforms

by Stephen Akudike

June 17, 2024

In a significant revelation, the Presidency has disclosed that Nigeria’s expenditure to defend the Naira plummeted to $1.5 billion per ...

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

Naira Sustains Bullish Stance Despite Dollar’s Aggressive Gains

by Stephen Akudike

April 12, 2024

Amidst the dollar's recent robust performance, the Nigerian naira steadfastly maintained its bullish trajectory this week, bolstered by lingering concerns ...

Battered Commodity Currencies Gain Attention Amid Dollar’s Decline.

Naira Strengthens to N1,560.57 Against Dollar on Official FX Market

by Stephen Akudike

March 20, 2024

The naira has surged against the US dollar, now quoted at N1,560.57 on the official market. This upward momentum reflects ...

Access Bank, Zenith Bank among others Report Robust Profits Despite Economic Challenges

Banks Defy Economic Challenges: N703.3 Billion Profit Amidst Inflation and Forex Revaluation

by Stephen Akudike

February 5, 2024

Despite the economic downturn, leading Nigerian banks, including FBN Holdings Plc, Stanbic IBTC Holdings, and five others, have collectively reported ...