The National President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dele Kelvin Oye Esq., has said that recent devaluation of the naira was fuelling food and grain export to West African countries as Nigeria’s food is now the cheapest in the West African, W/A region due to the naira fall.… Read more

International business research firm, Economist Intelligence Unit, has said that the Central Bank of Nigeria does not have the liquidity to support the naira as of now. It stated this in its latest Country Report on Nigeria, which was published on Friday. The CBN unified segments of the country’s foreign exchange market on June 14,… Read more

The Central Bank of Nigeria (CBN, has urged all Microfinance Banks (MfBs) to ensure prompt rendition of statutory monthly returns through FinA application. This is contained in a circular signed by Valentine Ururuka, the Director, Financial Policy and Regulation Department of the apex bank addressed to all MfBs. According to Ururuka, the CBN has observed… Read more

Bitcoin raced to an all-time peak above $72,000 Monday as the world’s most popular cryptocurrency won further support on greater trading accessibility and dollar weakness. The virtual unit struck $72,717 as dealers also eyed an upcoming industry event that traditionally boosts its price by restricting supply. Monday’s spurt extended last week’s record-breaking run when the currency bulldozed… Read more

Nigeria pauses controversial expatriate employment levy (ghanaweb.com) Read more

Global investment bank, Goldman Sachs has forecasted that the Naira will appreciate to N1200 per US dollar in twelve months. Goldman Sachs analysts, Andrew Matheny and Bojosi Morule disclosed this in their recent analysis of Nigeria’s current economic realities. The US-based financial institution highlighted the recent upward interest rate adjustment by monetary authorities in Nigeria… Read more

How Nigeria ex-president Buhari’s signature was forged to withdraw $6.2 million – Expert details (ghanaweb.com) Read more

Bitcoin hit another record high Friday, smashing through $70,000 for the first time on growing investor demand amid speculation over when the United States may begin lowering interest rates. Around 1535 GMT bitcoin stood up 1.9 percent on the day at $68,646 having minutes earlier hit a fresh peak of $70,085.85. Read more

LAGOS—The Central Bank of Nigeria, CBN, has reported a 433 per cent upsurge in Diaspora remittances to $1.3 billion in February from $300 million in January. Disclosing this yesterday while speaking with newsmen in Abuja, the Acting Director of Corporate Communications, CBN, Mrs Hakama Sidi Ali, said, “The Bank’s data indicates that overseas remittances rose… Read more

The naira on Friday appreciated to N1,600 per dollar in the parallel market from N1,615 per dollar on Thursday. Similarly, the naira depreciated to N1,627.4 per dollar in the Nigerian Foreign Exchange Market (NAFEM). Data from FMDQ showed that the   indicative exchange rate for NAFEM rose to N1,627.4 per dollar from N1,602.17 per dollar on… Read more