Nigeria Recorded N600 Trillion e-Payment Transactions in 2023
Electronic payment transactions in Nigeria hit an all-time high in 2023 as it rose by 55 per cent to N600…
Category: Finance
Cardoso: Nigerians Spent $40 Billion in 10 Years on Foreign Education, Medical Tourism
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, yesterday said that the growing number of Nigerian students…
Foreign portfolio investors showing interest in Nigerian market- CBN
Wunmi Semudara The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has announced that foreign portfolio investors (FPIs)…
Cardoso: $2.4bn FX Claims Not Valid, $2.3bn Settled, $2.2bn Outstanding
Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has said about $2.4 billion out of the reported…
Dollar Falls in Parallel Market to N1350/$, Official Rate at NAFEX Window Holds at N1,461
The market reacted positively yesterday to the recent reforms by the Central Bank of Nigeria (CBN), with the Naira appreciating…
NBCC to FG: Nigeria Cannot Increase Money Supply from N53.1tn toN78.7tn in 2023 without Corresponding Increase in GDP
The Nigerian British Chamber of Commerce (NBCC) has urged the federal government to drastically cut down the volume of Naira…
Official I&E Rate Hits N1,482/$1, Surpasses Parallel Market FX Price at N1,460/$1
In what appeared an unusual occurrence in the foreign exchange market yesterday, the naira hit N1,482/$1 on the Investors and…
To Stem Naira’s Continuing Decline, CBN Clears Another $500m FX Backlog
The Central Bank of Nigeria (CBN), yesterday announced that it had released an additional $500 million to address verified outstanding…
PwC: Collapse of FX Market into Single Window Led to 98% Devaluation of Naira in 2023
A report by PricewaterhouseCoopers (PwC), a global business advisory services firm, has said that the value of the Nigerian currency,…
Naira Reached New Low on Parallel Market to N1420/$1, Slides at Official Market
The Naira reached an unprecedented low yesterday of N1,420 marking a 4.03 per cent or N55 decline compared to Wednesday’s…