18 results
- 26 May 2021
NAFEX Signals Official Devaluation of Naira to N410/$
Central Bank of Nigeria (CBN) has devalued the naira to N410.25 to dollar- a move officially confirmed by the adoption of the Nigerian Autonomous Foreign Exchange Rate (NAFEX), also known as the…
- 19 Dec 2018
Ecobank Denies Cooking Books to Look Healthy
Ecobank Transnational Incorporated (ETI) has refuted a media report claiming it tampered with its accounts in order to make shareholders feel the company was doing well. In a report by South…
- 29 Aug 2017
Opinion: Will Nigeria Shock the Global Arena in H2?
The largest economy in Africa has certainly had a presence in the third quarter of 2017. Investors across the globe are becoming increasingly optimistic over Nigeria’s economic outlook, as the nation…
- 25 Jun 2024
CBN Issues IMTOs Naira Access to Boost Liquidity & Diaspora Remittances
Central Bank of Nigeria (CBN), issued new measures to facilitate naira liquidity and raise diaspora remittances. In its latest circular, the apex bank stated that eligible International Money…
- 16 May 2021
CBN Signals Harmonisation of Forex Rates with Removal N379/$1 Rate from Website
Central Bank of Nigeria (CBN) at the weekend began gradual harmonisation of exchange rates with the removal of N379/$1 official rate from its website. The move by the apex bank is one of the first…
- 6 Aug 2020
Study Rates NCC’s Monitoring of QoS High
A new study by FBNQuest titled ‘Telecommunications Sector Update – Now for Digital Transformation’, has said that the Nigerian Communications Commission (NCC) takes quality of service (QoS) very…
- 28 Oct 2020
Fintech Anchors MTN Post-COVID-19 Recovery in Nigeria
MTN Nigeria recovered from elevated volatility caused by COVID-19 to record massive revenue growth from digital and fintech services in the nine months ended 30 September. During the period under…
- 14 Mar 2021
Nigeria Week in Review: “Naira 4 Dollar“ & Oil in Focus
By Lukman Otunuga, Senior Research Analyst at FXTM It was a week defined by fluctuating bond yields, easing inflation fears, monetary bazookas, and U.S stimulus hopes. For Nigeria, the spotlight was…
- 8 Dec 2017
CBN Should Cut Interest Rate in 2018 To Boost Investors' Confidence- Otunuga
Lukman Otunuga is a research analyst at FXTM. Prior to joining FXTM, Lukman spent two years as a research analyst with international currency broker FXCM, where he focused on technical and…
- 9 Jun 2021
FMDQ Commends CBN for Restoring Transparency in FX Market
Mr. Bola Onadele Koko, the Chief Executive Officer, FMDQ Group, has hailed the Central Bank of Nigeria (CBN) for activating the on-system trading and reporting of foreign exchange (FX) transactions…
- 3 Oct 2021
CBN Data Shows over $16Bn in Domiciliary Accounts in Nigeria
Data from the Central Bank of Nigeria (CBN), has revealed that Nigeria has an estimation of $16 billion in domiciliary accounts of commercial and merchant banks, using the official exchange rate of…
- 28 Nov 2021
Infracorp to Kickoff January with N1Trilion Seed Fund
Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), has revealed that N1 trillion in seed funding has been pulled together for the infrastructure company, Infracorp, to kickstart…
- 2 Nov 2022
Afrinvest Affirms Nigerian Banks as Resilient Despite Economic Downturn
The 2022 Afrinvest Banking Sector Report has revealed that despite daunting economic challenges, commercial banks in the country recorded modest improvement in all regulatory indicators. The report,…
- 17 May 2024
CBN Grants Approval to 14 New IMTOs to Spur Liquidity
Central Bank of Nigeria (CBN) has said that it has granted 14 new International Money Transfer Operators, IMTOs Approval-in-Principle (AIP) to double foreign-currency remittance inflows through…
- 29 May 2024
Foreign Inflow to NGX Dropped in April – Report
The value of foreign inflow on the Nigerian Exchange Limited dropped by 19.14 per cent month-on-month to N42.58bn in April from N52.66bn in March. This was indicated in the Domestic & Foreign…
- 12 Jun 2019
CBN Recants, Says no Changes to Forex Policy
Central Bank of Nigeria (CBN) said it made no change to its naira policies, after a revision on its website led some analysts to speculate that it was ending a system of multiple exchange rates.…
- 19 Jul 2024
CBN Resumes Forex Sales to BDCs with $20,000 Ceiling to Each Licensee
Central Bank of Nigeria (CBN) resumed dollar sales to Bureaux De Change (BDC) operators on Thursday July 18, with a planned disbursement of $20,000 to each licensee. The apex bank said the forex…
- 27 Jul 2020
MTN Nigeria Looks to Rural Connectivity, Backhaul to Balance Earnings
MTN Nigeria is looking at improved pricing, increased focus on rural connectivity and backhaul in its network in the longer term to make up for an anticipated drop in its earnings, according to a…