Naira Falls Slightly to ₦1,610/$ in Parallel Market
The naira depreciated slightly against the US dollar, losing ₦1.02 on a day-to-day basis to trade at ₦1,610 on Tuesday, compared to ₦1,606 on Monday.
According to Aboki Forex data as of May 7, the naira was trading...
The Federal Government has directed the Economic Management Team (EMT) to chart a fresh path for Nigeria’s economic future, targeting a medium-term growth rate of seven per cent.
CBN Rakes in N804bn Through Open Market Auction
The Central Bank of Nigeria (CBN) has raised a total of N804.85bn at its Open Market Operations auction conducted on Monday, April 29, 2025, as investors continued to chase high-yield securities amid excess liquidity and elevated inflation...
Zap Operation: CBN Fines Paystack ₦250m over Licencing Breach, Others
Nigeria’s Central Bank has fined fintech company Paystack, ₦250 million ($190,000) for allegedly operating its newly launched consumer product, Zap by Paystack, a peer-to-peer money transfer app in violation of its regulatory licence.
According to TechCabal...
Naira Appreciates Further, Trades N1,599.70/$ at Official Market
The naira on Tuesday traded N1,599.70/$ at official market maintaining stability in the foreign exchange (FX) market despite the drop in external reserves.
The Central Bank of Nigeria’s exchange data showed that it gained slightly against the dollar,...
