Nigeria’s Oil Export Earnings Decline to $12.1bn   Nigeria’s crude oil export earnings slumped to $12.1 billion in Q2, 2024 as against $12.4 billion in the preceding Q1, reflecting the decline in domestic crude oil production to 1.27 million barrels per day in Q2, 2024 from...

Report Reveals Naira May Weaken to N1,993/$1   The naira is forecasted to depreciate to N1,993 against the United States dollar by 2028, posing a significant challenge to Nigeria’s pharmaceutical industry, particularly in importing essential medical devices, a new report by BMI, a Fitch Solutions subsidiary,...

Naira to Strengthen Further in January - Rewane Bismarck Rewane, an economist, has projected that the naira will strengthen further in January 2025 compared to its current weak trading position. Rewane made this known during his monthly presentation at the Lagos Business School Executive Breakfast Session,...

CBN Approves Banks to Trade with Deposited FX The Central Bank of Nigeria has issued guidelines to banks on implementing the free foreign exchange deposit window announced by the Federal Government recently. The guidelines released by the CBN on Tuesday provided the modalities for the participation...

Credit to Government by Banks Hit N42trn in September - CBN The Central Bank of Nigeria (CBN) says credit extended to the government by banks surged to N42.02 trillion in September 2024, representing a 78.6 percent increase from N23.52 trillion in January. Credit to the government...

Court Orders Final Forfeiture Of $2.04m, Properties, Shares Linked to Emefiele The Federal High Court sitting in Lagos on Friday ordered the final forfeiture of the sum of $2.045m, seven choice landed properties and share certificates linked to the former Governor of the Central Bank...