Home » Archives by category » Nigeria Finance

Nigeria’s Government Revenues Rise In March

Nigeria’s distributable government revenues rose to 467.81 billion naira ($1.53 billion) in March from 429 billion naira in February due to higher royalties from oil production, a government statement said on Tuesday. Distributable revenue is government income that is shared at various levels of state including the federal government, state governments and local government councils. […]

CBN Sells $25m For Investment, Exports At New Forex Window

CBN Sells $25m For Investment, Exports At New Forex Window

The Central Bank of Nigeria sold $25 million on Tuesday in its first day of offering foreign exchange to investors and exporters, it said in a statement. The central bank also sold $96.37 million in currency forwards at an auction, it said, part of its effort to narrow the spread between official and black market […]

Naira Devaluation Puts Pressure On Costs, Says Nigerian Breweries

Naira Devaluation Puts Pressure On Costs, Says Nigerian Breweries

The Nigerian Breweries Plc said the devaluation of the naira and the nation’s inflation rate are putting pressure on its input costs amid decline in consumers’ purchasing power. The company’s Managing Director/Chief Executive Officer, Mr. Nicolaas Vervelde, who stated this on Tuesday at a media briefing in Lagos, however, described the Nigerian market’s fundamentals as […]

FG, States, Local Govts Shared N466.93bn In March – FAAC

FG, States, Local Govts Shared N466.93bn In March – FAAC

The Federation Account Allocation Committee (FAAC) disbursed the sum of N466.93bn to the three tiers of government in March 2017 from the revenue generated in February 2017, the National Bureau of Statistics (NBS) said on Tuesday. According to the NBS report released in Abuja, the amount disbursed comprised of N290.16bn from the Statutory Account; N40.33bn […]

Nigeria’s Recession To End Q3 2017- Emefiele

Nigeria’s Recession To End Q3 2017- Emefiele

Nigeria will be out of economic recession by the end of the third quarter of 2017, Governor, Central Bank of Nigeria (CBN), Godwin Emefiele has declared. This comes as he revealed that the nation’s foreign reserve stands at over $31billion. The apex bank boss who spoke with journalists after a closed door session with the leadership […]

Nigeria Records 10% Fall In Remittances Amid Pressure To Raise Forex Inflows

The decline in remittances, when valued in U.S. dollars, was worsened by a weaker euro, British pound and Russian ruble against the U.S. dollar. At a time when Nigeria is struggling to attract foreign exchange inflows to particularly to boost liquidity, reduce pressure on the naira and improve the economy, the country is also seeing […]

CBN’s New Forex Window To Close Multiple Exchange Rates

CBN’s New Forex Window To Close Multiple Exchange Rates

The new foreign exchange window introduced by the Central Bank of Nigeria (CBN) could close the multiple exchange rates in the foreign exchange market, traders have told BusinessDay. This is even as traders expect that the exchange rate in the black market will appreciate further to the N370 to N375 to the US$ range this […]

Investors Stake N13.4tn On Currency, Fixed Income Securities

Transactions in fixed income and currency markets for the month of rose by 10.5 per cent as investors committed N13.42 trillion in March, compared with N12.15 trillion recorded in February.  However, the Treasury Bills (T.bills) segment of the market continued to dominate and accounted for 49.5 per cent in February, while Federal Government of Nigeria (FGN) […]

Nigeria Loses $200b For Not Passing PIB

Nigeria Loses $200b For Not Passing PIB

Failure to legislate the proposed reforms in its oil and gas industry, particularly the Petroleum Industry Bill (PIB), has cost Nigeria a whopping $200 billion in investments. Of the amount, the country lost $15 billion yearly in investments withheld or diverted by investors to other countries because of uncertainty as investors do not know which […]

FOREX: CBN Sectoral Release Stabilizing Naira

FOREX: CBN Sectoral Release Stabilizing Naira

Effects of sectoral foreign exchange interventions by the Central Bank of Nigeria (CBN) may have started emerging as naira appears stabilising against major currencies, especially the dollar. The effect of this initiative became noticeable during the weekend as those operating in the small and medium enterprises (SMEs) segment of the economy heaved a sigh of […]

Page 1 of 63123Next ›Last »
Contact Us