CBN Warns Against Fraudulent Contract, Project Funding Claims   The Central Bank of Nigeria (CBN), has warned members of the public to be weary of activities of fraudsters purporting to be in receipt of award letters of contracts related to construction works and special financial interventions...

PoS Operators Blame Double Transaction Charges on Cash Scarcity   Point of Sale (PoS) operators in Nigeria have raised transaction fees by over 50 per cent, attributing the increase to severe cash scarcity caused by banks rationing withdrawals. With yuletide and end-of-year holidays fast approaching, Nigerians may...

Naira Drops to N1690.37/$ as Dollar Supply Declines   The naira weakened by 2.31 per cent or N38.12 on Monday at the National Autonomous Foreign Exchange Market to N1690.37/$ compared to 1652.25/$ that it had closed the previous week at. According to FMDQ data on Monday, the...

Foreign inflow on NGX Drops to N11bn – Report Foreign inflow into the Nigerian Exchange Limited declined to the lowest point of the year at N11.26bn in September. This is according to the latest Domestic & Foreign Portfolio Investment Report of the NGX. The report indicated that...

Nigeria's Foreign Debt Service Gulps $3.5bn in 2024 - Report The Federal Government spent $3.58 billion servicing its foreign debt in the first nine months of 2024, representing a 39.77 per cent increase from the $2.56bn spent during the same period in 2023. This is according...

Foreign Exchange Policy, Interest Rate Increase Foreign Portfolio Investment by 170%   The Central Bank of Nigeria (CBN) high interest rate regime and foreign exchange policy have whetted the appetite of Foreign Portfolio Investors, FPIs, as inflows amounting to N696.88 billion came into the stock market...