Nigeria Hits Record $553 Million in Diaspora Remittances in July
The Central Bank of Nigeria (CBN) recently announced a major milestone in diaspora remittances. Nigerians living abroad sent a record $553 million back home in July 2024, the highest ever for a single month. This is a significant 130% increase from the $240 million recorded in July 2023. The CBN credits this remarkable growth to […]
Nigeria’s Inflation Drops for the First Time Since 2022
For the first time in over a year and a half, Nigeria’s inflation rate has finally started to decrease. In July 2024, the inflation rate fell to 33.40%, which is lower than the 34.19% recorded in June. This marks the first time inflation has cooled off since December 2022 when it stood at 21.34%. The […]