Nigeria's Fiscal Deficit Increased by 0.1% in April – CBN The Federal Government’s fiscal deficit rose month-on-month by 0.1 per cent to N824.79bn in April from N823.91bn in March, the Central Bank of Nigeria disclosed in its April 2024 Monthly Economic Report. A fiscal deficit is...

CBN Projects 30points Business Improvement in Six Months  Business owners are optimistic that the conditions for doing business in Nigeria will improve in August 2024, and the following six months, the Central Bank of Nigeria has stated. According to the Business Expectations report released by the...

CBN Reveals $343m Decline in External Reserves Nigeria’s foreign exchange reserves dipped by $342.97m to $36.53bn in nine days, data from the Central Bank of Nigeria on Sunday showed. The decline in the country’s foreign exchange reserves comes amid the recent sale of $876.26m to meet...

Court Orders Forfeiture of $2.04m, Assets Linked to Emefiele The Federal High Court in Lagos has ordered the interim forfeiture of a cash sum of $2,045m linked to the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. Justice Akintayo Aluko also ordered the...

Economic Activities Contracted in 13 Months to 49.7pts – CBN The Central Bank of Nigeria says economic activities in the country contracted for 13 consecutive months to 49.7 index points in July 2024. CBN disclosed this in its Purchasing Managers Index (PMI) report for July 2024. The...

FG Inaugurates Cttee on Naira-based Crude Sale to Local Refineries  The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has officially inaugurated a technical sub-committee tasked with developing the framework for the sale of crude oil to local refineries in naira. This initiative...