forex
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People & Money
Foreign currency shortages are cutting Nigerians off from Apple Music, AliExpress, and more
In July 2021, Lagos-based software engineer Sodiq Lawal was working on a project for a fintech startup when the Central…
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Naira exchange rate
How to Stabilize the Naira
Recent slides in the official exchange rate of the Naira and the dramatic widening of the parallel market premium signaled…
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Naira exchange rate
The Naira in 2021: Gap between CBN & Parallel Market Rates to Stay
The exchange rate or the external value of the naira is the most important price in the Nigerian economy. Hence,…
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People & Money
“Our children would die of hunger” – Nigeria’s Forex Dealers Lament Dollar Scarcity
In May 2020, the Director of Nigeria’s Budget Office revealed that the country had lost around 80% of oil revenue…
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Naira exchange rate
“CBN Forex Rate is a Joke”: Why the Black Market Is Popular
The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, last week criticized Nigerians for patronizing the black market for foreign…
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People & Money
Dollar Shortage Poses Major Risks to Nigerian Banks – Fitch
International rating organisation, Fitch Ratings has said that foreign exchange liquidity and dollar shortage pose significant risks to the ratings…
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People & Money
Russia Scales up Foreign Exchange Reserves by $4.5 Billion in 1 Week
While Russia is a corruptly governed country with opaque institutions and weak economic policies, the Central Bank of Russia under…
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People & Money
Petroleum Industry Bill Offers Chance to Bolster Nigeria’s Depleting Forex Reserves
Nigeria’s strained foreign exchange reserves could stir up a fund-raising drive that could force government to sell a stake in…
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People & Money
Petroleum Subsidy: FGN-Labour Deal Impossible This Time
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari has revealed that the NNPC incurred…
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People & Money
CBN Expands Forex Abuse Investigations from Betting Firms to 55 Companies
The Central Bank of Nigeria (CBN) has teed off a forex probe into the activities of 55 firms and persons…
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