CBN Extends Deadline for BDCs to Buy $25,000 Weekly from Banks The Central Bank of Nigeria (CBN) has granted eligible bureau de change operators more time to purchase foreign exchange (FX) from the Nigerian Autonomous Foreign Exchange Market (NAFEM). On December 20 2024 CBN granted BDC...

PRNigeria Fact-Check Exposes Misleading Claim by Buhari on Rental Income for Feeding In a recent statement that sparked widespread debate, former Nigerian President Muhammadu Buhari claimed that he relies on rental income from one of his houses in Kaduna State to support his living expenses...

Naira Appreciates by 4.14% at Official Market Nigeria’s exchange rate appreciated significantly in January 2025, gaining N63.72 against the dollar to close at N1,474.78 per dollar on January 31 at the Nigerian Foreign Exchange Market. According to data from the FMDQ Securities Exchange Limited and the...

OPS Businesses Lose N2.5trn to Administrative Bottlenecks – DG SMEDAN Members of the Organised Private Sector, including the Small and Medium Enterprises Development Agency of Nigeria, and the National Association of Chambers of Commerce, Industry, Mines, and Agriculture have expressed worry over the N2.5tn annual...

Equity Market Gains N1.95trn in January Despite the domestic economic uncertainties, the nation’s equities market started 2025 on a bullish note, gaining N1.95 trillion at the end of January this year. The market capitalisation, which closed the year on December 31, 2024 at N62.763 trillion, appreciated...

Nigeria Set to Boost Non-Oil Exports in 2025 With earnings of over $5.456 billion in the non-oil sector in 2024, the Federal Government is intensifying efforts to improve the country’s exports in 2025. According to the outlook of the Ministry of Industry, Trade and Investment (FMITI),...