IMF Rates Nigeria’s GDP As Best In Africa         Using the Gross Domestic Product (GDP) as yardstick, the International Monetary Fund (IMF) has rated Nigeria as the best economy in Africa. In its 2020 World Economic Outlook, the IMF also ranked Nigeria as one of the world’s...

Naira Recovery Against Dollar To Begin February 2021 - CBN         The Central Bank of Nigeria (CBN) has said the naira will begin recovery against the dollar and other global currencies from February 2021. This was contained in the latest CBN Business Expectation Survey released by its...

Nigeria’s Forex Inflow Hits $21bn In Q3       The total amount of foreign exchange inflow into the economy in the third quarter of 2020 stood at $21.46 billion, according to data from the Central Bank of Nigeria (CBN). The CBN, in its third quarter economic report said...

Forex Interventions Give False Hope On Naira - IMF         Regular foreign exchange (forex) interventions in Nigeria and other emerging economies create false sense of security and hope on the local currency, the International Monetary Fund (IMF), has warned. Nigeria, which operates a flexible exchange rate regime,...

IMF Seeks Unified Exchange Rate For Naira         The International Monetary Fund (IMF) has urged the Central Bank of Nigeria (CBN) to get the country a unified exchange rate for the naira. It remained stable at N378 to dollar on the CBN’s official rate. The naira was on...

Naira In Mixed Fortunes As External Reserves Drop To 5mths Low       Despite the renewed pressures on the external sector, Naira has appreciated in the Investors & Exporters (I&E) window of the currency market. But this came at the backdrop of a decline in external reserves just...