Foreign Reserves Depreciated By $790m       Nigeria’s foreign exchange reserves have depreciated by $790 million despite the rise in crude oil prices. The foreign reserves stood at $34.43 billion as at May 17 data from the Central Bank of Nigeria (CBN) website showed. Managing Director, Financial Derivatives Company...

12 Banks Earned N461.51bn Interest In Three Months       Twelve commercial banks in Nigeria earned a total of N461.51bn in net interest income in the first three months of this year, up from N451.14bn in the same period of 2020. An analysis of data from their unaudited...

Naira Drops As Food Inflation Rises       Fears of continued rise in inflation among foreign exchange dealers have further weakened the naira, market statistics have shown. The local currency lost strength at the weekend, dropping to N485/$1 from N483/$1 at the parallel market. The slide followed release of...

Experts Blame Forex, Insecurity, Low Production As Inflation Hits 18.17%       Nigeria’s rate of inflation, which has maintained a continuous increase for more than a year, rose again in March, hitting a high of 18.17 per cent, according to data released on Thursday by the National...

What Nigeria Must Do To Attain $1.5trn GDP B2030 — Rewane         The Chief Executive Officer of Financial Derivatives Company, Bismarck Rewane, has said Nigeria will require to grow its economy by at least seven to eight per cent annually, over a five-to-ten-year period, based on...

Naira Depreciates As External Reserves Decline Persists To $36.12bn         The naira last week buckled under the weight of increased dollar demand, depreciatiating in both the parallel market and the Investors and Exporters (I&E) window, even as the nation’s external reserves declined further to $36.12 billion...