Edun, Cardoso Seek Increase In World Bank Support for Nigeria Mr. Wale Edun, the Minister of Finance and Coordinating Minister for the Economy, has called for more support from the World Bank for Nigeria, expressing hope that the multilateral institution will appreciate the reforms conducted...

Ticket Revenue: CBN, Foreign Airlines Clash Over Unpaid $700m   The Central Bank of Nigeria (CBN) and foreign airlines operating in Nigeria have differed over the total amount of unpaid ticket revenue in the country. The CBN on Tuesday said it had ‘concluded the payment of all...

IMF Foresees Weaker Economic Growth For Nigeria   The International Monetary Fund (IMF) has downgraded Nigeria’s economic growth projections for 2024 to 3.0 per cent from 3.1 per cent in its October forecast. It disclosed this in its ‘World Economic Outlook Update, January 2024.’ In a table,...

External Reserves Decline by $520m in Five Weeks – CBN   The country’s external reserves fell by $520.22 in five weeks, figures obtained from the Central Bank of Nigeria (CBN) revealed. According to CBN’s data on movement in reserves, the figures which stood at $33.396bn as of...

External Reserves Decline by $1.65bn in Six Months   Nigeria’s foreign exchange reserves have fallen by $1.6bn to $32.97bn since the Central Bank of Nigeria (CBN) tried to unify the country’s foreign exchange rates. On June 14, the apex bank asked Deposit Money Banks to remove the...

Naira Steadies At Parallel Market at 1,160/$   The pressure on the foreign exchange (FX) market marginally eased on Tuesday as naira steadied against the United States dollar in the parallel market. According to Aboki FX, the naira sold for N1,160 on Monday and Tuesday respectively. Checks...