Forex Reserves Drop To $35.63bn, Lowest In Two Months
The nation’s foreign exchange reserves have fallen to the lowest level in more than two months, the latest data from the Central Bank of Nigeria have shown.
As of November 10, the forex reserves stood at $35.63bn,...
Naira May Depreciate To 475/$, Says Rewane
The naira will weaken in the parallel market as oil prices stay at $40-$42 per barrel and likely depreciate to 470-475 against the dollar in November and December, the Managing Director/Chief Executive Officer, Mr Bismarck Rewane, has said.
Rewane...
Shrinking Of Economy: Experts Warn Of Mass Poverty, Predict Recession In Q3
The Managing Director, Financial Derivatives Company Limited, Bismarck Rewane, has said that the Nigerian economy will slide into a technical recession in the third quarter of 2020.
Rewane who spoke with one of our...
Nigeria’s Investments On Fixed Assets Hit $39.2bn In Five Years
Nigeria’s Fixed Gross Investments rose by $39.2 billion in five years, from $59.6 billion recorded in 2016 to $98.2 billion in 2020.
Fixed Gross Investment records total business spending on fixed assets, such as factories, machinery,...
The Exporter/Importer Forex Window launched by the Central Bank of Nigeria (CBN) to deepen dollar inflows to the economy has recorded $1 billion deals in the last six weeks, Managing Director, Financial Derivatives Limited, Bismarck Rewane, has said.
In the company’s economic report, released at...
Nigeria’s external reserves dropped to $30.298 billion as at March 30, 2017 following settlement of matured obligations, mainly foreign exchange (FX) forwards, by the Central Bank of Nigeria (CBN).
The latest external reserves position showed it fell by $67 million compared with the $30.231 billion...
