Economy
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JP Morgan’s $3.7bn estimate of Nigeria’s net reserves ‘out of context,’ says CBN
The Central Bank of Nigeria has claimed that the recent estimate of the bank’s financial accounts by JP Morgan was…
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Nigeria’s fx reserves falls to an all-time low of $3bn – JP Morgan Report
A combination of foreign exchange forwards, securities lending, currency swaps, and outstanding contracts has weakened Nigeria’s net external reserves to…
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N96.5bn spent to print, distribute naira notes in 2022 – CBN
The Central Bank of Nigeria (CBN) says currency issue expenses gulped N96.46 billion in 2022. This is contained in…
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Nigeria’s N77trn debt may stall Tinubu’s economic plan — MAN
The Manufacturers Association of Nigeria (MAN) has indicated that Nigeria’s estimated N77 trillion debt burden would likely truncate the economic…
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South-South, South-East truck drivers losing N194.4b to illegal, multiple taxation
There are indications that the Heavy Truck section of the National Union of Road Transport Workers (NURTW) within the South-South/South…
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Seven states in serious difficulty, economic losses over border closure
Ripple effects of economic sanctions on Niger Republic are rocking at least seven Nigerian states bordering the south of Niger.…
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Two years after ban, CBN resumes forex sale to BDCs, unveils fresh guidelines
The Central Bank of Nigeria (CBN) on Friday unveiled a series of fresh operational guidelines for forex sales by Bureau…
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Falana drags CBN to court over ‘illegal’ floating of Naira
The decision of the Central Bank of Nigeria (CBN) under President Bola Tinubu to float the naira is illegal and…
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Naira in all-time free fall, trades at N910 to dollar on the parallel market
The dollar is selling at N910/$, compared to N942/$ on Tuesday, according to data by AbokiFX, an online platform that…
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BREAKING: NNPCL secures $3bn emergency loan to strengthen the naira
In a move that offers respite to the Nigerian Naira, the Nigerian National Petroleum Company Limited (NNPCL) has inked a…
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