Written by The naira appreciated against the dollar at the foreign exchange market amid the Central Bank of Nigeria’s interest rate hike. FMDQ data showed that the naira strengthened to N1659.44 on Tuesday from N1675.62 on Monday. This represents a N16.11 appreciation. Similarly, at the black market, the naira gained N5 to close at N1750 against the […]
The Office of the Accountant General of the Federation has halted payment of federal allocations to the Rivers State Government in compliance with a court judgement, just as the Court of Appeal in Abuja heard the appeal challenging the verdict on Friday. A three-member panel of the Court of Appeal led by Hamma Barka, on […]
The Central Bank of Nigeria (CBN) has raised the alarm about the growing wave of fake foreign currency transfers CBN warned Nigerians against fraudulent SWIFT messages and unsubstantiated claims about foreign currency transfers A statement by the CBN said it has been inundated by petitions claiming foreign currencies sent to them have not been credited […]
The Central Bank of Nigeria, CBN, has told the Nigerian Senate not to create confusion or friction for it and the Securities and Exchange Commission, SEC. The statement was handed to the upper legislative chamber during a one-day public hearing organised by the Senate Committee on Capital Market on Thursday in Abuja in moves […]
• Currency volatility index decelerates to 7.4 per cent• Gross foreign reserves cross $40b first time in nearly three years• CBN continues liquidity hunting, ‘courts’ IMTOs• Monetary, fiscal rigidities pose fresh medium-term risks With summer holidays and foreign school tuition payment pressure now at their tail ends, market analytics have suggested that the bleeding naira […]
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At the Nigerian Exchange Limited (NGX) on Wednesday, the Group Managing Director, FBN Holdings, Nnamdi Okonkwo, disclosed that Group is set to exceed the Central Bank of Nigeria’s (CBN) minimum recapitalisation requirement of N500 billion as it targets N730 billion capital base by the first quarter of 2025. Speaking to the capital market community on […]