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CATEGORY

Economy

Nigeria’s Capital Importation Fell 26% in 2023 to $3.9 billion

Nigeria’s capital inflows fell 26% to $3.9 billion in 2023 from $5.3 billion the previous year, the National Bureau of Statistics said in a...

My Job, Second Most Difficult on Earth – Cardoso

Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has described his job as the second most difficult on the globe. This is as...

Nigeria’s January Inflation Reaches 29.90% as Cost Of Living Crises Worsens

The country’s headline inflation moved to 29.90% percent in January 2024, according to the latest data released by the National Bureau of Statistics (NBS).  NBS...

Dangote Promises Social Intervention Amidst Economic Hardship

By Abdulwaheed Olayinka Adubi, Kaduna Alh. Aliko Dangote, President Dangote Conglomerate, has pledged to support social policies and human development initiatives of the government, targeted...

High Yields Lure Carry Traders Back to Africa’s Largest Economy With $1bn of Inflows

Global carry traders are being lured back to Nigeria by higher yields and new reforms of its foreign exchange (FX) markets by the Central...

CBN Hikes Rate on Treasury Bills to Lure Dollar Inflows

The Central Bank of Nigeria (CBN) hiked the interest rates on short term debt obligations or treasury bills on Wednesday in a bid to...

Nigeria’s Dollar Transaction Volumes Hit $844 million on Feb. 5 – Cardoso

Nigerian central bank Governor Olayemi Cardoso said that dollar liquidity in the country’s currency market has risen sharply, pointing to “positive outcomes” from recent reforms. Transaction volumes...

S&P Global Affirms Nigeria’s Credit Outlook Remains Stable at ‘B-/B

S&P, a global credit ratings agency, at the weekend affirmed that Nigeria’s credit outlook will remain stable in 2024, with short-term foreign and local...

CBN Denys Punch Report it Plans to Convert $30bn Domiciliary Deposits to Naira

The Federal Government and the Central Bank of Nigeria (CBN) have denied that there are plans to convert $30 billion domiciliary deposits to naira. This...

Naira Falls to N1,413/ $ in NAFEX as CBN Orders Pricing Change

Nigeria’s naira plunged to a record against the dollar following a revision of the methodology used to set the exchange rate, in effect the...

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