External Reserves Shed $567m In Two Weeks
The nation’s external reserves fell by $567 million in the first two weeks of this month.
According to the latest data from the Central Bank of Nigeria (CBN), the reserves dropped to $34.846 billion on Tuesday December 15th from...
Naira Weakens Further As Dollar Sells For 478
The naira extended its decline on Wednesday at the parallel market as the United States dollar was sold for N478.
The local currency, which traded at N475 per dollar on Tuesday, has come under pressure in recent days....
Naira Plunges To 475 As Dollar Demand Rises
The naira weakened further on Monday, trading at 475 to the United States dollar in the parallel market amid a rise in demand for the greenback.
The local currency, which has come under pressure in recent days, fell...
Forex Scarcity Bars Marketers From Petrol Imports
Despite the deregulation of the downstream oil sector by the Federal Government, private marketers are still tied to the Nigerian National Petroleum Corporation’s apron strings as they continue to steer clear of petrol importation, ’FEMI ASU reports
The expected...
Forex Reserves Drop To $35.63bn, Lowest In Two Months
The nation’s foreign exchange reserves have fallen to the lowest level in more than two months, the latest data from the Central Bank of Nigeria have shown.
As of November 10, the forex reserves stood at $35.63bn,...
#EndSARS Protest Disruption Costs Economy N1.5trn
The economic cost of the #EndSARS protest disruption is estimated at N1.5tn, approximately 1.03 per cent of the GDP and 11.47 per cent of the 2021 budget, Financial Derivatives Company Limited has said.
“This suggests that the economic recovery path...
