MPC to hike lending rate by 100bps – Report
There are indications that the Monetary Policy Committee of the Central Bank of Nigeria will further hike its Monetary Policy Rate (interest rate) by 100 basis points this week. The ...
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Naira Rebounds, Surges to N791.75/$1 at Official Market
In a significant turn of events on Friday, November 17, 2023, the Nigerian naira showcased substantial appreciation against the dollar, concluding at an impressive N791.75/$1 at the official market. Experts ...
Top Business & Finance News Headlines For Today, Tuesday, 14th November, 2023
1. Manufacturers kick against CBN Price Verification Portal The Manufacturers Association of Nigeria has told the Central Bank of Nigeria to rescind its recently introduced Price Verification System... Read more ...
FG may lose N183bn from 25 failed concessions
The Federal Government may lose investments worth N183.3bn due to a failed contractual agreement of 25 concessioned public facilities and infrastructure granted to private investors. This new development is coming ...
Naira Drops 22.1%, Market Turnover N45.3b
In the recent dynamics of the Nigerian Autonomous Foreign Exchange Market (NAFEM), a significant devaluation of the naira by 22.1% has been observed, bringing the exchange rate to N996.75/$. This ...
Inflation to hit 30% by Dec – KPMG
KPMG forecasts that Nigeria’s headline inflation will rise to 30 percent by December 2023, attributing the anticipated increase to recent reforms, such as fuel subsidy removal, and the unification of ...
Eight firms record N918.1bn loss on currency revaluation
Eight firms have declared N918.1bn as currency revaluation loss following a 68.55 percent decline in the value of the naira against the dollar as of the end of September 2023. ...
Naira Makes Significant Gain, Rises to N780/$1 at the Official Market
The Nigerian naira experienced a substantial appreciation against the dollar, reaching a new monthly high of N780.14/$1 at the official market on November 10, 2023. This marked a remarkable gain ...
Justify use of subsidy removal savings, FG tells govs
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, on Friday, revealed plans by the government to present a detailed implementation of revenue disbursed to ...
Saudi Arabia Commits to Support CBN with FX Deposit and Refinery Investments
In a significant development, Saudi Arabia has pledged support to Nigeria by providing foreign exchange to bolster the ongoing forex reforms led by the Central Bank of Nigeria (CBN). Additionally, ...
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