Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, and the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, are optimistic that ongoing efforts will flip the foreign exchange (FX) soon and see the naira gaining significantly against the dollar.

Lingering uncertainty, insecurity, sustained foreign exchange liquidity challenge and other macroeconomic hitches, have continued to depress foreign investors’ appetite for stocks, even as participation in the local bourse decreased by 27.9 per cent in one month from August 2024 to September 2024.

Due to the scarcity of foreign exchange (FX), hike in tariffs, increase in import duty, and other related taxes, automobile dealers have lamented their inability to import fairly used cars into the country. This is even as they have now resorted to recycling Nigerian used cars, while others have abandoned the automobile business entirely. Speaking…

This is obviously not the best of times for President Bola Tinubu who since assuming office on May 29, 2023 has turned a globetrotter in search of foreign investors. For records, within his first year in office the president has made at least six foreign trips to countries like France, the United Kingdom, Guinea-Bissau, Kenya,…

The Central Bank of Nigeria (CBN) has directed Deposit Money Banks and other foreign exchange market participants to submit compliance reports regarding the FX Code by December 31, 2024. The CBN issued this directive to strengthen the integrity and efficiency of Nigeria's foreign exchange market and ensure alignment with global standards. The FX Code, effective…

Arewa Consultative Forum (ACF) Chieftain and ex-Secretary General of the Northern group, Elder Anthony Sani, has applauded President Bola Tinubu over his exchange rate policy, saying it has prevented the nation's economy from total collapse. According to him, the previous governments of Muhammadu Buhari and Goodluck Jonathan sustained the Nigerian exchange rates artificially, which hindered…

The Manufacturers Association of Nigeria (MAN), Cross River and Akwa Ibom branches have decried the instability and volatility of foreign exchange in the country, describing it as a major threat to their operations.

Rising inflation, foreign exchange (FX) crisis, business climate uncertainty and other macroeconomic challenges, which have severely battered the balance sheet of listed companies pushed seven corporates to opt for fresh capital raising of up to N1,300 trillion in nine months to shore up capital deficit.

The impacts of the hike in the pump price of petrol seem to be taking a toll on the naira as the national currency tumbled to N1,645 to one dollar at the parallel market, yesterday.

Ogun State Governor, Prince Dapo Abiodun, said the commencement of fuel production by the Dangote refinery will strengthen the nation's economy by eliminating constant shortages and conserving foreign exchange. Petrol produced from the 650,000 barrels per day Dangote refinery is expected to hit filling stations in the next 48 hours as modalities with the Nigerian…

AS losses suffered by stock market investors in July extended into August with a total of N36 billion, shareholders at the weekend renewed the call for the Federal Government to strengthen collaboration with Organised Private Sector (OPS) in tackling inflation, foreign exchange crisis, heightening insecurity and other macro-economic woes taking its toll on the businesses of listed firms, to the reverse the trend.

In a society where a few live in luxury while many struggle in poverty, it’s not surprising that feelings of envy, jealousy, and even resentment arise among the less fortunate towards those who are well-off.