CBN to FX Marketers: Submit Compliance Report Before February The Central Bank of Nigeria (CBN) has directed participants in the foreign exchange market to submit compliance reports on adherence to the Nigeria FX Code by January 31, 2025. The directive is part of efforts to strengthen...

Manufactured Goods Imports Rise 269% to N9trn – NBS The value of manufactured goods imported into the country rose Year-on-Year (YoY) by 268.76 percent to N9.03 trillion in the fourth quarter of 2023 (Q4’23) from N2.45 trillion in the same period in 2022. The figure also...

No Plan To Sell Tickets In Dollars Says NANTA President Travel agents under National Association of Nigeria Travel Agencies, (NANTA) have denied plans to sell air tickets in dollars due to FX scarcity and airlines inability to repatriate their earnings. Following recent information on ticket sales...

World Bank Outlines steps for Nigeria's Economic Revovery The World Bank has outlined faster steps for Nigeria's economic recovery apart from taking other measures to deepen ongoing reforms undertaken by the country. According to the Bank, the measures would assist avoid threats to the government’s macroeconomic...

E-payment Transactions Rose By N80bn To N21trn In June       Transactions through electronic payment (e-payment) channels increased by N80 billion to N21.27 trillion in May 2021 against the N21.19 trillion recorded in April 2021. CEO of Financial Derivatives Company, Bismarck Rewane, said this in a report titled:...

Foreign Stock Investors Withdraw N99.94bn In Four Months       A total of N99.94bn was pulled out by foreign investors from the Nigerian stock market in the first four months of this year as foreign involvement plunged to a four-year low in April. The foreign portfolio investors injected...