A surge in demand for dollars in the parallel market driven by banks and end-users combined with slow forex disbursement to BDCs by the Central Bank of Nigeria, CBN, caused the Naira, last week, to fall by 23 per cent…
Nigeria lost about N249bn crude oil revenue in July following a plunge in the country’s oil output by over four million barrels in the same month, latest oil production data seen on Sunday showed Data obtained from the Nigerian Upstream…
NAIRAMETRICS Nigeria imported agric products valued at N1.97 trillion in 2021, surging by 42% year-on-year compared to N1.19 trillion recorded in the previous year. This also represents the highest amount on record spent on agricultural imports in any year. This…
PUNCH NEWS The World Bank has said Nigeria may have one of the highest inflation rates globally in 2022, with increasing prices diminishing the welfare of Nigerian households. According to the World Bank, Nigeria is projected to have one of…
PUNCH NEWS The World Bank says the Nigerian government’s exchange rate management policies are discouraging investments and fuelling inflation in the country The bank disclosed this in the November edition of its Nigeria Development Update. While highlighting the role of…
VANGUARD NEWS The Central Bank of Nigeria, CBN, has ordered Deposit Money Banks, DMBs to sell foreign exchange (FX) to customers. CBN disclosed this in a letter to all banks reminding them to set up teller points at designated branches…
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