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NIGERIA'S ’s GDP RISES 2.98% IN Q1 ON SERVICES SECTOR GROWTH
Nigeria’s economy grew by 2.98 percent year-on-year in real terms in the first quarter of 2024, according to the National Bureau of Statistics. This growth rate is higher than the 2.31 percent recor...
Cardoso Fulfills His Promise as He Clears $7 Billion Inherited FX Backlogs
On Wednesday, the Central Bank of Nigeria (CBN) announced that all previous pending valid foreign exchange backlogs were officially cleared, thereby fulfilling one of the important pledges Mr Olayemi ...
CBN Clears Foreign Airlines FX Backlogs With Additional $64.44 Million
The Central Bank of Nigeria recently announced that it has successfully cleared the backlog of foreign exchange owed by foreign airlines. The apex bank said it has successfully removed all verified cl...
Naira Still Not Confident Against the Dollar as It Continues Despite $500 Million From CBN
On Monday, the naira fell to N1348.63/$ at the Nigerian Autonomous Foreign Exchange Market. The decline shows a 51.21% drop from how the N891.90/$ traded last Friday at the official market. This data ...
CBN Disburses $500 Million to Clear Part of Verified FX Backlogs
The Central Bank of Nigeria (CBN) has announced the disbursement of $500 million to different sectors of the economy to follow up on its recent payment of over $2 billion to clear outstanding debts in...