Home » Archives by category » Nigeria Finance

Forex: Naira Remains Stable This Week In Parallel Market

Forex: Naira Remains Stable This Week In Parallel Market

The ​N​aira ​on Thursday remained stable at N364 per dollar in the parallel market. ​There was no significant increase or decrease in the figure all week days. The stability was attributed to weak demand for dollar and increased supply due to dollar sale to bureaux de change by the Central Bank of Nigeria (CBN​). CBN […]

World Bank Approves $961m Support For Nigeria

World Bank Approves $961m Support For Nigeria

The World Bank, in alignment with the Economic Recovery and Growth Plan of the Federal Government of Nigeria for 2017–2020, has approved two Programme-for-Results operations totalling $961m to support Nigeria’s federal and state governments in their effort to foster inclusion and revive growth. The Better Education Service Delivery for All Programme-for-Results is a $611m credit […]

Nigeria To Fund 2017 Budget With Improved Tax And Customs Revenue Collection

Nigeria To Fund 2017 Budget With Improved Tax And Customs Revenue Collection

Nigeria seeks to improve its collection of revenues from taxes and customs duties to fund the country’s record 7.44 trillion-naira ($22.99 billion) 2017 budget, the minister of budget and national planning said on Monday. Africa’s largest economy has been in recession since last year, largely due to low oil prices and militant attacks on the […]

Forex: Naira Firms As CBN Injects $195m Into Market

Forex: Naira Firms As CBN Injects $195m Into Market

The Nigeria’s Naira on Monday strengthened against the other foreign currency after the Central Bank of Nigeria (CBN) injected a total sum of $195 million into the inter-bank forex market on same day to meet the requests of customers in the various segments of the market. This follows the CBN’s intervention in the inter-bank foreign […]

2017 Budget: FG To Release N350bn For Capital Projects

2017 Budget: FG To Release N350bn For Capital Projects

The Federal Government is set to release the first tranche of capital release of N350bn to its Ministries, Departments and Agencies for implementation of the 2017 budget. The Minister of Finance, Mrs. Kemi Adeosun, disclosed this on Monday in Abuja during the public presentation of the 2017 Federal Government budget. The event was attended by […]

CBN Pumps In $995m, Mulls New Forex Retail Option

CBN Pumps In $995m, Mulls New Forex Retail Option

The Central Bank of Nigeria is contemplating introducing a new FOREX retail option in Nigeria, just as it released another $195million into the market today. The bank last week released $800 million , making a total of $995million injection, in eight days. The bank hoped that the fund will adequately meet the requests of customers […]

Nigeria’s Current Account Balance Hit N823 Billion

Nigeria’s Current Account Balance Hit N823 Billion

Showing a sign of recovering from a deficit of $15.43 million in 2015, Nigeria recorded a positive current account balance of $2.72 (N823 billion) million in 2016. The Organisation of the Petroleum Exporting Countries (OPEC), which made the disclosure in its 2017 Annual Statistics released recently, showed that OPEC countries recorded a collective current account […]

Nigerian Stock Exchange Reverses Loss, Makes Gain

Nigerian Stock Exchange Reverses Loss, Makes Gain

The Nigerian stock exchange, NSE, on Wednesday gained some 1.38% points to reverse its two day consecutive loss. The All Share Index closed at 33,598.20 basis points, gaining 456.35 basis points when compared to Tuesday’s closing of 33,141.85 basis points. Likewise, the market capitalisation for Wednesday closed at 11.618 trillion Naira, gaining 158 billion Naira […]

Nigeria’s Inflation Rate Drops To 16.25% In May – NBS

Nigeria’s Inflation Rate Drops To 16.25% In May – NBS

Nigeria’s Inflation rate eased further from 17.24 percent in April 2017 to 16.25 percent in the month of May, Business Post reports. Data released on Thursday by the National Bureau of Statistics (NBS) revealed that the drop was by 0.99 percent during the period. It is also the fourth consecutive time the inflation rate was […]

CBN Lifts Naira With $418 Million

CBN Lifts Naira With $418 Million

The Nigeria’s Naira is set to be given further lift in the forex market with the Central Bank of Nigeria, CBN’s injection of another $418 million into various segments of the inter-bank Foreign Exchange market on Tuesday. This is coming on the heels of a cumulative $2.2bn boost in the transactions at the Investors’ & […]

Page 1 of 72123Next ›Last »

Contact Us
Call +234 813 069 1462