29 results
- 16 Jul 2026
FX Reforms Deliver Big Win as Nigeria's Net Reserves Jump to $40bn
Nigeria's net foreign exchange reserves have risen significantly from about three billion dollars to 40 billion dollars, reflecting improved external liquidity and growing investor confidence…
- 30 Jul 2026
$40Bn Net Reserves, Record Wealth, Relentless Poverty: Who Is Nigeria's Economy Serving Today?
By Blaise Udunze No doubt, it was a welcome announcement that Nigeria's net foreign exchange (FX) reserves have surged by an astonishing 1,233 percent from about $3 billion to over $40 billion. This…
- 3 Mar 2026
Nigeria's Net Reserves Surge 50% to $34.8bn in 2025 – CBN Governor
Nigeria's net foreign exchange reserves surged to $34.80 billion by end-2025, Central Bank Governor Olayemi Cardoso disclosed, marking a 50.58 percent rise of $11.69 billion from $23.11 billion in…
- 12 Feb 2026
Billions in Nigeria’s Reserves, But Where is the Growth?
By Blaise Udunze The moment the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, recently announced that Nigeria’s foreign reserves had inched to $49 billion as of February 5, 2026,…
- 15 Apr 2013
Money in Circulation Shrinks to N.5Tr
The total value of that currency (whether banknotes, coins, or demand deposits) that is engaged in Nigeria’s economy is N1.457 trillion as at the month of January, according to data by the…
- 21 Sept 2020
NCC Moves to Review International Termination Rate for Voice Services
The Nigerian Communications Commission (NCC) has embarked on a cost-based study to set the new pricing regime for mobile international termination rate (ITR) for inbound international voice calls in…
- 22 Dec 2008
Soludo Explains Reasons behind Naira Crash
Prof. Charles Soludo, Governor of the Central Bank of Nigeria (CBN) last week told a charged senate session that the recent devaluation of naira was a deliberate policy of the nation’s apex…
- 10 Jun 2021
NCC Concludes Cost-Based Study on International Termination Rate Determination
The Nigerian Communications Commission (NCC) has concluded the process for determining the cost-based price of Mobile International Termination Rate (ITR) to ensure healthy competition on traffic…
- 12 Feb 2016
Future of Nigeria’s Economy Lies on Software Technology- Systemspecs
Nigeria has the capacity to influence the global software technology landscape and reap the huge attendant benefits if the government makes a conscious effort to actualise the prosperous future that…
- 16 Feb 2017
Investors Scramble for Nigeria's Bonds Despite Recession
Investors are lining up to buy dollar bonds Nigeria is expected to issue soon despite the country's first recession in a quarter of a century, a currency crisis and budget shortfalls driven by low…
- 2 Oct 2019
What the Recent Oil Disruption Means for Nigeria
By Lukman Otunuga, senior,Research Analyst,FXTM The unprecedented Oil disruption in Saudi Arabia in September shocked the markets and triggered multiple financial reactions for investors across the…
- 17 Oct 2013
Nigeria’s Economy Gets Fitch’s ‘BB’ Rating
Fitch Ratings has affirmed Nigeria’s long-term foreign and local currency IDRs and senior unsecured bond ratings at ‘BB-’ and ‘BB’ . The outlook is stable, according to the agency, which also…
- 31 Jul 2012
CBN Reduces Cash in Banks
The Central Bank of Nigeria (CBN) is to reduce the amount of cash held by banks due to their failure to direct excess money into developing the real sector of the economy. Before the CBN arrived at…
- 18 Aug 2026
Nigeria May Have Escaped Fiscal Cliff; Now Build an Economy Worth the Sacrifice
Three years after the removal of the fuel subsidy and the adjustment of the foreign-exchange regime, Nigeria’s revenue and external positions have improved significantly. After escaping the fiscal cliff as touted, but with the United States questioning the country’s fiscal transparency, the harder question is whether these gains can be translated into an economy worthy of the sacrifice Nigerians have endured.
- 30 Apr 2019
Will Nigeria listen to IMF’s call to remove fuel subsidy?
By Lukman Otunuga, FXTM Research Analyst, The IMF has once again called on Nigeria to phase out government fuel subsidies, citing better use of the funds on social safety nets like healthcare,…
- 6 Apr 2016
AFC Total Assets Grows 25%
Africa Finance Corporation (AFC) has announced that its 2015 fiscal year results, showing that despite a difficult operating environment, it delivered strong underlying operating results, achieving…
- 27 Sept 2021
Fitch Upgrades Bank Of Industry’s National Rating to ‘AAA(Nga)’
Fitch Ratings has upgraded Bank of Industry’s (BoI) National Long-Term Rating to ‘AAA(nga)’ from ‘AA+(nga);’ and affirmed the Nigeria-based bank’s Long-Term Issuer Default Rating (IDR) at ‘B’ with a…
- 15 Jan 2014
Investors Fret over Sanusi’s Successor
The uncertainty on whether the CBN governor would remain in office till the end of his tenure and the mysteries of who would succeed him should be properly managed if government is interested in…
- 9 Nov 2013
Kaberuka, AfDB President Named 2013 African of the Year
Donald Kaberuka, president , African Development Bank Group (AfDB) has been named 2013 African of the Year in recognition of his role in spearheading the Africa50 Fund to mobilize the financing of…
- 16 Mar 2014
States, Local Govts. Get August Deadline on .ng
State governments’ ministries and parastatals as well as local governments in the country have till August this year to host their websites on the country’s top level domain name .ng, in a bid to…
- 26 May 2013
Investors Shun Nigeria, Prefer SA & Egypt
Nigeria is behind South Africa and Egypt as the leading destination in Africa for foreign direct investment (FDI) according to the FDI report released by Global Greenfield Investment Trends. The…
- 16 Jun 2022
Nigeria’s Fiscal Woes to get Worst- IMF
International Monetary Fund (IMF) has again raised concern about the rising Federal Government fiscal deficit, warning it could hit 6.1 per cent of the nation’s Gross Domestic Product (GDP) as oil…
- 26 Jan 2026
Why Nigeria’s Banks Still on Shaky Ground with Big Profits, Weak Capital
By Blaise Udunze Despite the fragile 2024 economy grappling with inflation, currency volatility, and weak growth, Nigeria’s banking industry was widely portrayed as successful and strong amid…
- 30 Nov 2009
RTGS Replacement: Perago Africa, CMA, Montran Meet CBN Requirements
Going by the critical requirements established by the Central Bank of Nigeria (CBN) for the Request for Proposal (RFP) for the deployment of a new Real-Time Gross Settlement (RTGS) solution for the…
- 30 Apr 2020
Virus, Oil Collapse Shake Foundations of Banks
Nigerian banks have more to worry about than the coronavirus: Cratering oil prices and the threat of another naira devaluation are emerging as the biggest risks to how many lenders will emerge…
- 2 Oct 2019
Moving Nigeria Out of Net “Importer” of Bandwidth Status
Nigeria has achieved a great deal in availability of bandwidth to enhance access to the internet through the landing of not less than five undersea cable infrastructure at her shores, more so,…
- 12 Nov 2025
IHS Holding Chairman, Sam Darwish Credits Nigeria for Strong Q3’25 Earnings
New York Stock Exchange listed IHS Towers, the largest independent owner, operator and developer of shared communications infrastructure in Africa and one of the largest in the world by tower count,…
- 3 Dec 2016
Sanusi Warns against $30Bn Loan, Says Buhari 's Govt Lacks Ideas
Alhaji Sanusi Lamido Sanusi, Emir of Kano, has flayed President Muhammadu Buhari’s administration for the way Nigeria is being run and warned of grave consequences of borrowing $30 billion from…
- 28 Feb 2013
Lagos State Gets ‘AA (nga)’ Ratings from Fitch
Fitch Ratings, renowned global rating agency, has revised the Outlook on Lagos states’ ‘National Long-term rating’ to Positive from Stable, and subsequently affirmed it at 'AA(nga)'. The agency…