CBN Launches Diaspora BVN Platform, Targets $1bn Monthly Remittances  The Central Bank of Nigeria, in collaboration with the Nigeria Inter-Bank Settlement System, has launched the Non-Resident Bank Verification Number platform, an initiative aimed at enhancing financial access for Nigerians in the diaspora. The platform, which enables...

‎Naira Weakens to ₦1,630/$ in Black Market ‎The naira depreciated slightly against the U.S. dollar in the parallel market on Tuesday, May 13, trading at ₦1,630/$, down from ₦1,625/$ the previous day, marking a ₦5 decline. ‎According to data obtained by Economic Confidential, the naira was...

The World Bank has projected that Nigeria’s inflation rate will average 22.1 per cent in 2025, attributing the anticipated decline to the Central Bank of Nigeria’s tight monetary stance.

The Central Bank of Nigeria (CBN) raised its total Treasury Bills Primary Market Auction offer to N550bn, up from N400bn in the previous auction. The offer covers the 91-day, 182-day, and 364-day tenors.

‎Naira Stable at ₦1,625/$ in Black Market Amid Lingering Forex Pressures ‎The naira held steady on Monday in the parallel foreign exchange market, maintaining the same rate recorded at the close of trading on Friday. ‎A source at the Abuja black market told Economic Confidential that...

‎Naira Weakens Slightly to ₦1,630/$ in Parallel Market ‎The naira depreciated marginally against the U.S. dollar in the parallel market, sliding to ₦1,630/$ on Saturday, May 11, from ₦1,625/$ the previous day—reflecting a ₦1.02 drop. ‎According to data obtained by Economic confidential from Aboki Forex, the...