In Eight Months, Foreign Portfolio Deficit Falls To N1.4bn   Nigeria’s foreign portfolio deficit, which is the gap between outflows and inflows, narrowed considerably by 91.02 per cent (N14.50 billion) to N1.43 billion between January and August 2022, report on the fund’s movement has shown. The report...

External Reserves Sheds $337m In Two Weeks Nigeria’s external reserves fell by $337 million in the first two weeks of August, maintaining its declining trend since the middle of last month. Data from the Central Bank of Nigeria showed that the external reserves fell to $38.882...

FDC Forecasts 2.6% GDP Growth For Nigeria In Q2       Financial Derivatives Company Limited has said the Nigerian economy is expected to grow by 2.6 per cent in the second quarter of this year, up from 0.51 per cent in Q1. Analysts at Lagos-based FDC, led by...

CBN Digital Currency’ll Deepen Financial Inclusion, Says Rewane       Analysts at Financial Derivatives Company Limited, led by financial expert Bismarck Rewane, have said the planned introduction of a digital currency will deepen financial inclusion in the country. They said most central banks had indicated keen interests in...

CBN Devalues Naira To N410.25/$1         The Central Bank of Nigeria (CBN) has devalued the naira to N410.25 to dollar. The devaluation of the local currency was confirmed by the adoption of the Nigerian Autonomous Foreign Exchange Rate (NAFEX), also known as the Investor and Exporter (I&E)...

Credit To Private Sector Rises To N31.822trn       Banking sector credit to the private sector increased year-on-year by N382 billion to N31.823 trillion as of April, up from the N31.440 trillion it was as at the end of March. The data were compiled from the latest Central...