CBN Approves FX Sales to BDCs Amid Naira Volatility
To mitigate the impact of foreign exchange volatility, the Central Bank of Nigeria (CBN) has authorized the sale of foreign...
Parallel Market Dollar Rate Hits N1600/$1 Amidst Economic Pressures
Thursday July 18, 2024, according to sources compiled by Team Spectra, parallel market operators are currently offering dollars at...
“Customs Exchange Rate Reaches N1584/$1, Surpassing Official NAFEM Rate of N1581/$1 on July 17, 2024
Recently, the Nigerian Customs Service reviewed duties once more, setting rates slightly above the official closing rate at...
President Tinubu Requests Adjustment to 2024 Appropriation Act
The President of the Federal Republic of Nigeria, His Excellency President Bola Ahmed Tinubu, today, July 17th, 2024, wrote...
Federal Accounts Allocation Committee Distributes N1.354 Trillion in June 2024
Recently, following the Supreme Court's rulling on the autonomy to local governments over their accounts, the Federal Accounts...
The Impact of Trump’s Shooting Incident on the Financial Markets: Insights and Analysis
Kyle Rodda, a senior market analyst at Capital.com, noted that the "Trump trade effect" reflects market pricing based on expectations...
Nigeria’s inflation rate now at 34.19%
Nigeria continues to grapple with persistent challenges, prominently highlighted by the escalating inflation rates. As of June 2024, inflation surged...
Lagos State Government Introduces New Transportation Policy
On Sunday, July 15, 2024, initial reports sparked confusion regarding the Lagos State government's stance on "danfo" buses. Clarifying the...
Aliko Dangote Reveals NNPC’s Reduced Stake in Dangote Refinery
Aliko Dangote, CEO of Dangote Group, recently sparked controversy with surprising revelations regarding the Nigerian National Petroleum Company (NNPC)'s stake...
Nigeria’s Foreign Exchange Market Sees Significant Surge in Turnover
Nigeria has recently witnessed a notable increase in foreign exchange (FX) turnover, marking a pivotal moment in the country's economic...
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