Boosting the Naira: MAN Urges FG Support for Local Producers. The Manufacturers Association of Nigeria (MAN) has urged the Federal Government to bolster the country’s economy and enhance the international value of the naira by backing local producers. This…
Addressing Forex Concerns: Insights on Binance Nigeria’s $26 Billion Transactions, Cardoso Reveals. Nigeria’s forex landscape has been under scrutiny, with Central Bank Governor, Olayemi Cardoso shedding light on the staggering $26 billion flowing through Binance Nigeria within a year.…
Understanding Naira’s Undervaluation: Insights from Olayemi Cardoso. In a recent statement at the Monetary Policy Committee Meeting on February 27, 2024, Olayemi Cardoso, the Central Bank Governor, shed light on the undervaluation of the Nigerian Naira, attributing it to…
Nigerian Stock Exchange Witnesses N773 Billion Decline in Equities: Market Update. The Nigerian Stock Exchange (NSE) recently experienced a slight downturn in its key performance indicators, amidst prevailing bearish sentiment, resulting in a dip of 1412.64 points in the…
CBN Governor, Olayemi Cardoso, Dismisses Blame for Nigeria’s Economic Struggles. In a recent statement, Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), refuted claims that he and his team are accountable for the nation’s ongoing economic…
Decline in US Investment: Nigeria’s Foreign Capital Plummets by 88% in Q4 2023. In an unexpected turn of events, Nigeria experienced a significant 88% decline in foreign capital influx from the United States during the final quarter of 2023,…
In a bid to address the prevailing imbalances in Nigeria’s foreign exchange market, the Central Bank of Nigeria (CBN) has taken proactive measures to narrow the widening gap in exchange rates. In a recent circular issued by Dr. Hassan…
CBN Auctions N1.58 Trillion in Treasury Bills, Sets Interest Rate at 19% for 364-Day Bill. In its latest Treasury Bills auction, the Central Bank of Nigeria (CBN) successfully sold N1.58 trillion, underscoring its commitment to managing liquidity in the…
Jeff Bezos, Nvidia, and OpenAI Back Figure AI’s Humanoid Robot Venture with $675M Funding. In the realm of AI exploration, a notable shift is underway as tech titans like Jeff Bezos and Nvidia pivot towards humanoid robotics. This movement…
Federal Government’s Enhanced Cash Transfer Programme to Combat Fraud and Support Vulnerable Groups. In a bid to address fraud and ensure effective support for vulnerable communities, the Federal Government has overhauled its cash transfer programme, introducing immediate direct payments.…
Egypt’s $35 Billion Investment Deal with UAE: Lessons for Nigeria’s Economic Growth. Egypt recently secured a groundbreaking $35 billion investment agreement with the United Arab Emirates (UAE) aimed at developing the Ras El Hikma peninsula, heralding a new chapter…
CBN Proposes Increase in BDC Minimum Share Capital to N2 Billion for Tier 1 License. The Central Bank of Nigeria (CBN) is considering a substantial increase in the minimum share capital requirements for Bureau De Change (BDC) operators, aiming…