CBN Sells Over $300m To Banks As Naira Gains The Central Bank of Nigeria (CBN)has over $300m to Deposit Money Banks in the last two weeks amid desperate efforts to stabilise the naira-dollar exchange rate. The Association of Corporate Treasurers of Nigeria made the disclosure in...

Naira Appreciates to 1,468 per Dollar as MPC Meets After weeks of free fall, the Naira has finally made a comeback against the US dollar, reaching a new high of 1,468 in the official market. According to Economic Confidential findings at the parallel market, the average...

FX Crisis Threatens Modular Refineries Modular refineries in Nigeria are currently facing the threat of shutting down operations following their inability to access foreign exchange for the purchase of crude oil, a commodity priced in United States dollars. Nigeria has 25 licenced modular refineries with a...

Inflation: CBN Mops Up N1.51trn in 16 Weeks to Stabilise Economy The Central Bank of Nigeria (CBN) has issued a total of N1.5 trillion in Open Market Operation (OMO) bills since Olayemi Cardoso took the helm as governor in a bid to stem inflation and...

EFCC Urges Nigerians To Maintain Patriotism Despite Volatile FOREX Crisis On Friday, Ola Olukoyede the Chairman of the Economic and Financial Crimes Commission (EFCC), urged Nigerians to show a level of patriotism while in the midst of a volatile foreign exchange rate. In a statement by...

Egypt Acquires $35 billion UAE Investment Deal On Friday, Egypt revealed a $35 billion investment deal with the United Arab Emirates (UAE) to develop the Ras El Hikma peninsula. This signals a new era of economic revitalization and foreign investment attraction that could serve as a...