Exchange Rate

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.

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.

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.

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.

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.

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.

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.

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

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

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

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.