Finance
Net Foreign Exchange Inflow into Nigerian Economy Increases by 7.3% in 2023
The net foreign exchange (Forex) inflow into the Nigerian economy saw a notable increase of 7.3 percent year-on-year, reaching $33.9...
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Nigeria’s FX Reserves Drop to Seven-Year Low, Naira Depreciates Amidst Foreign Investor Exodus
Nigeria's foreign exchange (FX) reserves witnessed a considerable decline this week, plummeting by USD502.99 million week-on-week to reach a seven-year...
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Nigeria Aims to Increase Oil Production to Meet Fiscal Targets, Says Finance Minister
Nigeria's finance minister, Wale Edun, has revealed ambitious targets for the country's fiscal deficit reduction and oil production during his...
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Federation Account rakes in over N7trn July — Dec, 2023
The Revenue Mobilization Allocation and Fiscal Commission, RMAFC, has disclosed that N7.314trillion accrued to the Federation Account for the period...
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Central Bank of Nigeria Reduces Loan-to-Deposit Ratio to 50% in Tightening Policy
In a move aimed at deepening its monetary tightening policy, the Central Bank of Nigeria (CBN) has slashed the Loan-to-Deposit...
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Naira Emerges as World’s Top Performing Currency After 12% Rally in April
Following an impressive 12% rally in April, the Nigerian Naira has emerged as the best performing currency in the world,...
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March 2024: Nigeria’s Inflation Reaches All-Time High at 33.20%
In March 2024, Nigeria experienced a record-breaking surge in headline inflation, reaching an all-time high of 33.20 percent, compared to...
Read moreNaira Gains Strength, Hits N1000 to Dollar at Parallel Market
On Monday morning, the Nigerian naira opened at N1,130 to the dollar, but by midday, it had surged in value,...
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Nigerian Tier-1 Banks Plan to Raise $3.03bn in Fresh Capital Amid CBN Recapitalization Directive
Four of Nigeria's tier-1 banks, namely FBN Holdings, Access Holdings, Guaranty Trust Holding Company Plc, and United Bank for Africa...
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Nigeria’s FX Reserves Decline as Naira Appreciates Amid Reduced Turnover
Last Week, Nigeria's foreign exchange (FX) reserves experienced a decrease of USD317.95 million week-on-week, reaching USD33.51 billion as of April...
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