Category: Economy

CBN resumes sales of FX to BDC operators

The Central Bank of Nigeria has made a firm decision to close the growing exchange...

CBN raises interest rate to 22.75%

The Central Bank of Nigeria on Tuesday, implemented the first increase in its benchmark interest...

Nestle, others cost equity market 51bn loss

The loss experienced by Nestle Plc, Eterna, and Fidson Healthcare Plc caused the Nigerian Exchange...

Factories may shutdown if FX crises persists – MAN

By Melvin Onwubuke The Manufacturers Association of Nigeria has said that many factories may shutdown...

Naira depreciates to N2100/£1 in black market

By Alex Omenye   The naira witnessed a significant decrease, peaking at N2100 per Great...

Economic hardship: Senator advises Tinubu to hold national stakeholders meeting

A lawmaker from Osun Central, Senator Ajagunnla Olubiyi Fadeyi, has advised President Bola Tinubu to...

Nigeria’s GDP grows 3.46% in Q4, decreases by 2.74% in 2023

Nigeria’s Gross Domestic Product grew at 2.74% annually in 2023, a modest slowdown from the...

Nigeria’s money supply hits N93.72trn in January 2024

Nigeria’s broad money supply reached a historic high of N93.72 trillion in January 2024, marking...

Naira decline continues in parallel market, N1,700/$1

By Melvin Onwubuke   Nigeria Naira strengthened against the dollar in the official market, as...

Flow Financial launches in Africa, begins hiring in Nigeria

Floww Financial today announced its successful debut into the African cryptocurrency sector with the commencement...

South Africa’s richest man Johann Rupert gains $2.2bn one month

South Africa’s wealthiest man, Johann Rupert, has witnessed a significant surge in his net worth,...

CBN slashes import duty exchange rate to N1,472/$

The Central Bank of Nigeria has revised the exchange rate utilized by the Nigeria Customs...