Naira Trades 864/$ at FX Window The naira appreciated by 27.16 per cent to close at N864.29/$ on the official Investors and Exporter window on Monday. This is as the daily turnover of the dollar surged by 86.83 per cent to $132.46m at the closing of...

CBN Suspends Changes on Large Deposit The Central Bank of Nigeria has suspended the processing fees of two per cent and three per cent previously charged on all cash deposits above N500,000 for individuals, and N3m for corporates with immediate effect. This development followed the lingering...

Manufacturing Sector Dominates Nigeria's Import Contributions with N3.9tn in Q3 of 2023   The manufacturing sector has topped the list of Nigeria's import contributions in the 3rd quarter of 2023. According to the National Bureau of Statistics (NBS) report, the manufacturing sector contributed the most to Nigeria's...

Currency in Circulation Falls by N1.39trn, as Naira Scarcity Intensifies   The currency in circulation has significantly dropped by N1.39 trillion. According to new data released by the Central Bank of Nigeria (CBN), the currency in circulation fell to N1.39 trillion in January 2023, from N3.23...

Nigerian Banks Are Buoyant, CBN Assures   The Central Bank of Nigeria (CBN), has assured the banking public that Nigerian banks are buoyant. The CBN said this in a statement issued by its Acting Director, Corporate Communications, Mrs Hakama Sidi Ali. Ali’s statement was informed by reports in...

Three Major Oil Firms Project N290bn Revenue in Q1, 2024   Three oil and gas firms have projected a total of N290 billion in terms of revenue for the first quarter of 2024. These projections were stated in their earnings forecast filed with the Nigerian Exchange Limited. The...