CBN cautions against mishandling of Naira
The Central Bank of Nigeria (CBN) has again warned Nigerians to stop damaging, abusing, or mishandling the Naira. The bank said many people still fold, tear, or write on the currency, which reduces its quality and increases the cost of printing new notes. According to the CBN, the Naira is a national symbol and should […]
Investors storm Nigeria’s T-Bills as subscriptions exceed over N1.2tn
Investors have shown strong appetite for Nigeria’s Treasury Bills (T-Bills), with total subscriptions exceeding N1.2 trillion. The surge in demand highlights growing confidence in the government’s short-term debt instruments and reflects a positive outlook on Nigeria’s financial market stability. The Central Bank of Nigeria (CBN) reported that both retail and institutional investors actively participated in […]
NGX bleeds again as Investors lose N1.5trn in three-Day market meltdown
The Nigerian Exchange (NGX) has recorded another major drop as the stock market continued its downward trend for the third straight day. The persistent sell-offs have wiped out an estimated N1.5 trillion from investors’ wealth. Many traders are becoming worried as the market struggles to recover from ongoing economic pressure and weak investor confidence. Analysts […]
Naira records first appreciation against US dollar as foreign reserves hit $46.7bn
The Nigerian naira has recorded its first major appreciation against the US dollar in months, following a boost in the country’s foreign reserves. According to recent data, Nigeria’s reserves have climbed to $46.7 billion, giving the currency some much-needed support in the foreign exchange market. Analysts say this improvement signals a positive shift in market […]
Fuel price reduction: Dangote Refinery, petrol marketers clash over reason for drop
The recent drop in petrol prices has sparked a disagreement between Dangote Refinery and petroleum marketers, with both sides offering different explanations for the reduction. While Dangote insists the price cut is a result of its efforts to stabilise the market and make fuel more affordable for Nigerians, some marketers argue that competition and changing […]
Nigeria’s inflation rate drops for seventh consecutive time in October
Nigeria recorded another decline in its inflation rate in October, marking the seventh consecutive month of easing price pressures. According to analysts, this continued moderation is a sign that recent monetary policies and supply-side adjustments may be gradually stabilising the economy. Although prices remain high for many households, the steady decline offers some relief and […]
Why Nigerian marketers cut fuel price – Dangote Refinery
The Dangote Refinery has explained why fuel marketers in Nigeria recently reduced petrol prices. According to the refinery, the price cuts reflect adjustments in the global oil market and increased local supply, which have made fuel more accessible to consumers. The company noted that improved distribution and the commencement of local refining operations have helped […]
Nigeria to release October inflation rate Monday as analysts predict further moderation
The Nigerian government is set to release the country’s October inflation rate on Monday. Economists and financial analysts anticipate a further slowdown in the inflation rate, following recent trends of moderation in consumer prices. Experts note that easing inflation could be a positive signal for households and businesses, potentially reducing the cost of living and […]
Naira returns to depreciation against US dollar
The Nigerian Naira has once again slipped in value against the US dollar, raising fresh concerns about the country’s economic stability. After a brief period of recovery, the currency weakened across major foreign exchange markets, with traders attributing the decline to increased demand for dollars and limited supply. Businesses relying heavily on imported goods are […]
Naira records first appreciation against US dollar
The Nigerian Naira has finally recorded its first major appreciation against the US dollar, bringing some relief to citizens and businesses struggling with the rising cost of goods. This improvement comes after several weeks of pressure on the foreign exchange market. According to market reports, the Naira gained strength as increased dollar supply and tighter […]