FX liquidity dropped in July as naira loses N2
Nigeria's foreign exchange market recorded 6.64 percent drop in liquidity as the monthly market turnover declined to $2.81 billion at the end of July 2021 compared with $3.01 billion in the…
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African Union rolls out 400m vaccine doses to member States, Caribbean
African Union (AU) on Thursday announced the start of monthly shipments of vaccines acquired by the AU / African Vaccine Acquisition Trust (AVAT) to the AU Member States today.
The…
Sterling bank farmers’ radio to improve access to credit
Sterling Bank Plc has said that its farmers' radio will improve access to credit for smallholder farmers while broadening their skills.
The 2021 edition of Nigerian Farmers Radio, the…
Eurobond, IMF give CBN firepower to defend naira
There is hope for a stable naira going forward as the expected foreign exchange inflows worth about $6.3 billion will likely give Nigeria’s central bank the firepower to defend the local…
Naira closes strong on black market, official rate stable
Nigeria’s currency on Wednesday closed at N506 per dollar, which was 0.39 percent stronger than N508, closed on Tuesday at the parallel market, also known as black market.
Naira fell…
Explainer: What IMF’s Special Drawing Rights allocation means for Nigeria
The Board of Governors of the International Monetary Fund has approved a general allocation of special drawing rights (SDRs) equivalent to US$650 billion (about SDR 456 billion) on August 2,…
Intervention funds, financial inclusion, top achievement as Emefiele marks 60 years
At 60 years today, Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) has not relented efforts at ensuring economic growth and financial stability through strategic policies,…
Nigeria wins big in IMF $650bn SDR reserves allocation
Nigeria's external reserves stand to increase by about 10 percent, and the naira stabilise as Africa's largest economy will by August 23, 2021, receive a $3.3 billion allocation from the…
Naira bouncing back as uncertainty wanes
The naira is heading back to the level it was before the Central Bank of Nigeria (CBN)’s shock move to stop selling dollars to the Bureau De Change (BDC) operators.
That’s after the…
Naira gains 0.58% as banks compete to meet dollar demand
Nigeria’s currency on Monday strengthened further against the dollar, gaining 0.58 percent to N512/$ compared with N515 closed on Friday at the parallel market, widely known as the black…