Financial

WITH five weeks gone into the period of transition from old to new Naira notes and just barely one week to the deadline for acceptance of the old notes as legal tender, the Central Bank of Nigeria, CBN, and the commercial banks appear to be…

The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, says the newly redesigned Naira notes are already in banks and ready for issuance. According to a statement in CBN’s official twitter handle, Emefiele said so in…

The Naira on Thursday exchanged at 445.83 to the dollar at the Investors and Exporters window, a depreciation of 0.12 per cent, compared with the 445.30 it exchanged on Wednesday. The open indicative rate closed at N444.60 to the dollar…

The International Monetary Fund (IMF) has decried what it described as the emerging food crisis in Nigeria and in other Sub-Saharan African countries, urging that there should be more targeted support to the vulnerable. The IMF disclosed…

Nigeria’s federal government generated the sum of N600.15 billion from Value Added Tax (VAT) in the second quarter of the year (Q2 2022), the National Bureau of Statistics (NBS) disclosed Monday. The figure represented a growth rate of…

Nigeria Vice President, Prof. Yemi Osinbajo has declared that Nigeria is seeking $10 billion from international partners to fund the nation’s new Energy Transition Plan. This was just as the World Bank and the US Exim Bank have pledged…

The Federal Government of Nigeria is set to generate about N720 billion in the third quarter of 2022 from FGN Bonds. This is according to the “FGN Bond Issuance Calendar For Third Quarter, 2022” as released by the Debt Management Office…

Still struggling with its oil production quota, the Organisation of Petroleum Exporting Countries (OPEC) on Tuesday revealed that Nigeria reported a paltry 1.024 million barrels per day production in May, a multi-year low. However, while…

The Nigerian official currency, Naira has fallen against the dollar for the second time in the New Year, five days after it fell for the first time this year after maintaining N560/per $1 at the black market since the beginning of the year.…

The Central Bank of Nigeria’s total foreign exchange sales to authorised dealers (deposit money banks) declined to $1.65 billion in August 2021 from $2.05 billion in July 2021. The CBN disclosed this in its report on the supply of forex…