Naira Gains in Black Market, Slides at Official Window on Jan 9
The naira strengthened against the U.S. dollar on Friday, January 9, in the parallel market, but weakened slightly at the Nigerian Foreign Exchange Market (NAFEM).
Currency dealers in Abuja told Economic Confidential that the...
Telcos, Banks Get March Ultimatum on Airtime Refunds
Banks and telecommunications operators in Nigeria have been given a March 1, 2026, deadline to fully implement a new refund framework aimed at resolving persistent consumer complaints over failed airtime and data transactions.
The deadline follows the conclusion...
Petrol Price to Hit N905/Litre This Year - CBN
The Central Bank of Nigeria (CBN) has projected that the pump price of petrol would hover around N950 per litre in the year 2026. The CBN stated this in its 2026 Macroeconomic Outlook for Nigeria.
In its...
Credit extended to Nigeria’s private sector by deposit money banks declined by N1.3 trillion over the past year, reflecting the combined impact of aggressive monetary tightening and rising borrowing costs, even as short-term fluctuations show businesses continue to rely heavily on bank financing.
Naira Holds Steady Across Markets on Jan 5
The naira sustained its strength against the U.S. dollar on Monday, January 5, across both the parallel market and the Nigerian Foreign Exchange Market (NAFEM), maintaining a positive start to trading in 2026.
Currency dealers in Abuja told...
