Cardoso: Driving Investor Confidence Through FX Backlog By Abdulrahman Abdulraheem Governance is known all over the world to be a continuum. When people get into positions of authority, they are expected to inherit assets and liabilities from their predecessors. They are meant to build on...

CBN Sells $122.67m to 46 Authorised FX Dealers to Stabilise Market The Central Bank of Nigeria (CBN) has taken a significant step to stabilise the foreign exchange market by selling $122.67 million to 46 authorised dealers. This move is aimed at promoting market stability and reducing...

Nigerians Facing Consequences of Excess N37.5tn Money Supply into Economy – Cardoso The Governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, has said that Nigerians are facing the consequences of excess money supply into the economy, citing the N27tn Ways and Means loan...

Senate Rejects Bill to Boost Gold Reserves A bill seeking to boost the nation's reserves by using gold has been rejected by the Senate. The bill sponsored by Senator Sani Musa ( APC, Niger East) titled “ Foreign Exchange (Control and Monitoring) Bill, 2024 (SB. 353)”...

Naira Depreciates to 1,523/$ at Official Market   The naira depreciated at both the official and parallel markets on Monday. At the official, Nigerian Autonomous Foreign Exchange Market, the naira dropped to 1,523.85 per dollar, depreciation from the previous close of 1,509.67 to the American greenback. NAFEM is...

Pension Funds Increase by 2.23% in May – PenCom The value of pension funds in Nigeria increased by 2.23 per cent month-on-month to cross the N20tn mark to N20.23tn in May 2024. According to the unaudited report on the pension funds industry portfolio for the period...