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Exchange Rate

Central bank spends $20.91 billion in six months to defend naira

Within a space of six months this year, the Central Bank of Nigeria (CBN) has so far expended about $20.91 billion to stabilise the naira at the various segments of the foreign exchange (forex) market.

South Africa worried MTN Nigeria’s $10 billion fine may threaten country’s financial stability

The billions of dollars in fines owed by South African companies MTN and Standard Bank to Nigerian regulators could increase the risk to South Africa’s financial system, its central bank said on Wednesday.

Envoy: $1.3 billion American businesses in Nigeria under threat

United States Consul-General in Nigeria, F. John Bray, has said that $1.3 billion American businesses in Nigeria are under threat as result of instability in the exchange rate, policy inconsistency, poor electricity, dearth of infrastructure, regulatory and security issues.

Democracy Day: Lagos lawmakers express diverse views on President Buhari’s performance

Some lawmakers in the Lagos State House of Assembly have expressed divergent opinions over President Muhammadu Buhari’s achievements in his 2018 Democracy Day broadcast.

Central bank orders commercial banks to sell forex to customers, non-customers

As the Central Bank of Nigeria (CBN) at the weekendordered all Deposit Money Banks (DMBs) to sell forex to travellers over the counter, the Association of Bureaux De Change Operators of Nigeria (ABCON) has kicked against the order calling on the regulator to review BDC’s dollar purchase rate to align with rate commercial banks’ buying rate.

CBN: How we revived Nigeria’s economy under President Buhari

Deputy Governor, Central Bank of Nigeria (CBN), Mr. Bayo Adelabu, has given some insight on how the apex bank rescued Nigeria’s economy from sinking exchange rate, inflation and recession through the Economic Recovery and Growth Plan of President Muhammadu Buhari.

Senate receives report on 2018 Budget Tuesday

The 2018 Budget has been on the front burner in recent times as many people have blamed the National for purposely delaying the budget as using it as a tool against the Executive.

Angola faces currency test in economy shake-up

Angolan President Joao Lourenco was elected five months ago promising an "economic miracle".

Policy options for sustaining Nigeria’s economic upturn

Plummeting stock market indicators, sustained net capital outflows and poor doing business indicators all characterized our economy when I gave my speech last year.

Key details of 2018 budget proposal

President Muhammadu Buhari on Tuesday presented the 2018 budget proposal to the join section of the National Assembly.

Forex: Int’l airlines increase fares by 18 per cent

International airfares from Nigeria to all global destinations have gone up by another 10 per cent, after an initial increase of eight per cent about three weeks ago.

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