Net Foreign Exchange Inflow Drops By 31% To $21.8bn   The members of the Central Bank of Nigeria’s, CBN, Monetary Policy Committee, MPC, have called on the apex bank to carry out a comprehensive review of the foreign exchange market operations in the country to determine...

W/Bank Projects $17.6bn Diaspora Remittance To Nigeria   The World Bank has projected $17.6 billion Diaspora remittances into Nigeria in 2021, representing 2.5 per cent increase from $17.2 billion recorded in 2020. The Bank gave this projection in a report titled, “Migration and Development Brief 35”, attributing...

Nigeria’s Remittance Inflow Rebounds, Now $17.6bn - W/Bank Nigeria’s remittance inflow is set to hit $17.6bn and push inflows to Sub-Saharan Africa to $45bn in 2021, a new report by the World Bank has indicated. Remittance inflow to Nigeria was $17.2bn as of December, 2021. The World...

Fuel Marketing Firms’ Nine-month Revenue Rises To N594bn   The total revenue generated by five of the major oil marketing companies in the country jumped by N149.93bn in nine months as fuel demand recovers from the impact of the COVID-19 pandemic. The companies saw their combined revenue...

Democracy Day, Independence, Conferences, Others To Gulp N6.49bn   The Federal Government’s Ministries, Departments and Agencies plan to spend N6.49bn on national and international celebrations as well as conferences in 2022, according to an analysis of the data contained in the 2022 budget proposal of the...

Four Banks Borrow $6.21bn From Foreign Market Amid Dollar Shortage     In a bid to support their balance sheets with foreign exchange, four banks in the country raised $6.21bn from foreign creditors between January and October 2021. An analysis of reports shared on the issuer’s portal of...