Saturday, 9th December 2023

Foreign exchange

28 Nov
The immediate past President, the Association of Issuing Houses Nigeria (AIHN), Ike Chioke, said the ongoing foreign exchange (FX) reform instituted by the Central Bank of Nigeria (CBN) has presented both challenges and opportunities for investment bankers,
25 Oct
FMDQ Securities market has posted a total turnover of ₦23.3 trillion in its secondary market segment for the month of September 2023. The figure represents a Month on Month (MoM) increase of 31.60 per cent N(5.59trillion) and Year on Year (YoY) of 17.16 per cent (₦3.41trillion) from August 2023 and September 2022 figures, respectively.
2 Oct
FMDQ Securities Exchange's total turnover in the Foreign Exchange (FX) Spot and Derivatives markets stood at $472.49 million last week. The figure represents a fall of 26.52 per cent ($170.57 million) from $643.06 million reported the previous week....
13 Sep
Nigeria’s FTSE downgrade from frontier market to unclassified will cause a colossal damage to the capital market and erode investor confidence, unless urgent steps are taken to reverse the trend, experts have said.
6 Sep
Further expansion of telecommunications services would be hindered significantly by the inability of the players to secure foreign exchange to upgrade current infrastructure and deploy new ones
6 Sep
·CBN to clear backlogs in two weeks, plans clampdown on illegal operators The volume of foreign exchange (FX) currently sitting in local commercial banks is three times what is available in the vault of the Central Bank of Nigeria (CBN), the Acting Governor of the monetary authority, Adebisi Shonubi, has revealed. The volume has placed…
5 Sep
Just 100 days since President Bola Tinubu took up the reins, he may have pulled millions of poor Nigerians below where his predecessor, Muhammadu Buhari, left them on May 29 on the poverty line.    
21 Aug
Financial experts said the recent $3 billion emergency crude repayment loan from the African Export-Import Bank (AFREXIM) may not achieve a meaningful result in easing the pressure in the foreign exchange (FX) market unless appropriate measures are adopted.
17 Aug
About 48 hours after President Bola Tinubu and Acting Governor of the Central Bank of Nigeria (CBN), Folashodun Shonubi, held a crucial meeting on the state of the foreign exchange (FX) market, there is a breather for naira as it recorded a moderate gain trading at about N880/$ at the black market yesterday. Dollar spiked…
14 Aug
Foreign Exchange (FX) Spot and Derivatives markets recorded a turnover of $390.60 million, representing a decrease of 14.18 per cent ($64.52 million) for the week ended August 11, from $455.12 million achieved in the previous week.
9 Aug
Should one fail to aspire to greatness because it’s too tough? Do you halt preparations for your Bar Finals exams at Law School because the pressure is overly exacting? Did the Asian Tiger economies of Hong Kong, Taiwan, Singapore and South Korea outperform the old guard by cake-walking
26 Jun
Cost of importing vehicles, including mass transit units, and other imported commodities could increase by as much as 20 per cent in the coming weeks, a direct consequence of last week’s 40 per cent increase in the foreign exchange (FX) rate for clearing operations.


16 mins ago
President Bola Ahmed Tinubu, on Thursday, in Abuja expressed optimism about the prospects of increased investments from Shell Petroleum Development Company of Nigeria (SPDC), emphasising Nigeria’s long-term relationship with the company..
57 mins ago
The Chief Medical Director, the University of Benin Teaching Hospital (UBTH), Prof Darlington Obaseki, has said cervical cancer represents a significant and pressing public health concern for adult females in Nigeria and other developing nations. Obaseki asserted while delivering the 296th Inaugural Lecture of the University of Benin (UNIBEN) entitled, "Microscopes, Milestones And The Maelstrom:…
1 hour ago
The Transmission Company of Nigeria (TCN), Benin region on Saturday embarked on facilities expansion and upgrade at work centers in Edo, Delta, Ondo and Ekiti states aimed at expanding the grid for increased capacity and improved quantity of power transmission to the distribution companies in the areas. The TCN General Manager in the region, Engr.…
1 hour ago
The Chairman of the House of Representatives committee on Insurance and Actuarian matters, Mr Ahmed Jaha Babawo has decried the appalling level of contribution of the insurance sector to Nigeria's gross domestic product (GDP).
1 hour ago
The management of Tantita Security Services Limited has described as bizarre, and mischievous an accusation by the Nigerian Navy that the company is involved in illegal activities along the coastal areas of Ondo State. The Navy had issued a statement on Thursday on the arrest of a 77-meter  long motor tanker for crude oil theft…
3 hours ago
The President of the Nigeria Institute of Public Relations (NIPR), Dr. Ike Neliaku, has inaugurated two committees on the forthcoming first edition of the Nigeria National Spokespersons' Awards (NNSA) scheduled for March 2024. This is part of the historic deal with the Image Merchants Promotion Limited (IMPR) - publishers of PRNigeria, Economic Confidential, Spokespersons' Digest…
3 hours ago
The Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi, has allayed the fear about artificial intelligence in communication and national security. Kashifu spoke at the 2023 Security and Emergency Management Awards (SAEMA) and Spokespersons’ Communication Awards (SCA); 29 awards were presented to eminent security personnel, agencies, public relations experts, public…
4 hours ago
Manchester United went one step forward against Chelsea but have gone two steps back as they fell to an embarrassing 3-0 defeat against Bournemouth.
5 hours ago
Nigerian government has said that the surge of military coups in the West African is fast becoming a threat to the democratic culture in the region.
5 hours ago
The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has called on African leaders to create quality jobs for its teeming unemployed youths to stem the trend of brain-drain bedeviling the continent.