FX crisis: Ex-CBN Deputy Governor Proposes $30bn IMF Stabilisation Fund Former deputy governor of the Central Bank of Nigeria (CBN) Kingsley Moghalu has proposed a $20-30 billion International Monetary Fund (IMF) stabilisation facility to solve the lingering foreign exchange (FX) crisis. “To get out of Nigeria’s...

Interest Rate Hike Will Contain Inflation, Pressure On Naira - IMF   The International Monetary Fund (IMF) says the decision by the monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) to increase the interest rate will help contain pressure on the naira. According to...

N178bn Bad Debt: Reps Dismisses Allegation Against NPA The House of Representatives has exonerated the Managing Director of the Nigerian Ports Authority, Mohammed Bello-Koko of N178 billion bad debt allegations as contained in the 2019 audited financial statement of the authority. The Chairman of the House...

N178bn Bad Debt: Reps Dismisses Allegation Against NPA The House of Representatives has exonerated the Managing Director of the Nigerian Ports Authority, Mohammed Bello-Koko of N178 billion bad debt allegations as contained in the 2019 audited financial statement of the authority. The Chairman of the House...

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...

Naira Plunges at NAFEM, Parallel Market The Naira value weakened by 1.9% or N28.73 against the United States Dollar on Thursday, February 22 on the Nigerian Autonomous Foreign Exchange Market (NAFEM) despite unconventional approaches to ease the free fall of the currency. It closed at...