FX Market
23 Feb
Amid the worsening economy occasioned by galloping inflation, the federation revenue rose to N2.068 trillion in January out of which the Federation Allocation Committee (FAAC) yesterday shared N1.149 trillion to the Federal Government, States and Local Government Councils. This was contained in the communiqué issued at the end of the FAAC meeting in Abuja.
22 Jan
President Bola Tinubu is starting to look like a poor economic manager as widespread scepticism sweeps across the economy less than a month into a year, a situation many pointed to as a turning point in the failing economy.
11 Sep 2023
FMDQ Securities Exchange has posted a total turnover of $445.58 million in its foreign exchange (FX) spot and derivatives markets segment for the week ended September 8, 2023.
2 Aug 2023
August Economic Outlook of PwC foresees a sharp depreciation of naira and the resultant increase in the cost of importation could force many domestic firms to adopt a more aggressive local input sourcing.
3 Jul 2023
In his inaugural speech, President Bola Tinubu mentioned that monetary policy needed thorough ‘housecleaning’. Since then, Godwin Emefiele has been suspended as the governor of the Central Bank of Nigeria (CBN) and the FX market is undergoing rapid changes for the better.
3 Jul 2023
The Chief Executive Officer of the Centre for Promotion of Private Enterprises (CPPE), Dr. Muda Yusuf, has charged the Central Bank of Nigeria (CBN) to put measures in place to check high market volatility that has trailed official foreign exchange (FX) trading since June 14, when the current model was adopted.
30 Jun 2023
In his inaugural speech, President Bola Tinubu mentioned that monetary policy needed thorough ‘housecleaning’. Since then, Godwin Emefiele has been suspended as the governor of the Central Bank of Nigeria (CBN) and the FX market is undergoing rapid changes for the better.
29 Jun 2023
The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) said the reforms in the foreign exchange (FX) market are critical to enhancing the nation's currency stability and also combat inflation.
Latest
14 mins ago
In an interview on Justin LaBoy’s podcast “The Download,” Kanye West found himself at the center of controversy yet again due to his remarks about former First Lady Michelle Obama. During the interview, when asked about who we would want to have a “threesome” with, Kanye West replied, “Michelle Obama. Gotta f*ck the President’s wife!”…
30 mins ago
Britain's High Court agreed Tuesday to hear a legal challenge later this year over continued UK arms exports to Israel during its war against Hamas militants in Gaza. A coalition of legal advocacy groups wants the court to scrutinise the UK government's decision to keep selling military parts and arms to Israel despite claims that…
51 mins ago
Under a ceaseless storm of strikes in Gaza, a baby girl has survived insurmountable odds as the only member of her family left alive after she was delivered by Caesarian section as her mother lay dying. At just seven months pregnant, her mother, Sabreen al-Sakani, reached the emergency unit in critical condition after she was…
1 hour ago
American forces were targeted at a base in western Iraq, a US defense official said Tuesday, the second such attack on the country's troops after a more than two month pause. It followed another attack over the weekend in which rockets were fired from northern Iraq at a base in Syria that houses forces from…
1 hour ago
Nigeria's fastest man this year, Favour Ashe, will not be part of the 4x100m team competing at the World Athletics Relays in Nassau, Bahamas, which serves as a qualifying event for the Paris 2024 Olympics. This news is significant as the Athletics Federation of Nigeria (AFN) has not provided a reason for Ashe's omission despite…
1 hour ago
Gov. Nasir Idris of Kebbi has released N309.5 million for the payment of foreign scholarships to 86 indigenes studying in India and Egypt. The Commissioner for Higher Education, Alhaji Isah Abubakar-Tunga, made this known at a news conference in Birnin Kebbi on Tuesday. The commissioner said “Gov. Nasir Idris has made payment of foreign scholarship…
1 hour ago
Thames Water, the UK's largest water supplier, has been ravaged since privatisation by soaring debts and chronic underinvestment, sinking into a deep financial crisis which has sparked bailout speculation. So how did Thames Water, serving about 15 million people across London and surrounding areas, end up in such a perilous financial state? In a controversial…
1 hour ago
Prosecutors on Tuesday accused Donald Trump of brazenly violating a gag order imposed by the judge presiding over his "hush money" trial to prevent him from intimidating witnesses. "His attacks on witnesses clearly violate the order," prosecutor Chris Conroy told Judge Juan Merchan at a hearing called to determine whether the former president should be…
1 hour ago
Qatar said on Tuesday that Hamas's political leadership would stay in Doha as long as their presence remained beneficial to mediation efforts aimed at ending the war in Gaza. "As long as their presence here in Doha, as we have always said, is useful and positive in this mediation effort, they will remain here," foreign…
2 hours ago
The Central Bank of Nigeria (CBN) has informed Bureau De Change (BDC) operators about direct sales of US dollars at a discounted rate of N1,021 per dollar. The directive was contained in a circular issued by the apex bank on Tuesday, 23 April 2024. This is the second sale this month and the fourth in…