Samuel Nwite
AUTHOR: Samuel Nwite
IMF Downgrades Nigeria, South Africa’s 2024 Economic Growth
The International Monetary Fund (IMF) has made adjustments to its economic growth forecasts, affecting key African economies, including Nigeria and South Africa.
The revisions, outlined...
Nigeria Orders Banks to Sell Excess Dollar Stock by Feb 1 as BDC Union...
As part of efforts to stabilize Nigeria's volatile exchange rate, the Central Bank of Nigeria (CBN) has taken fresh measures, directing Deposit Money Banks...
CBN Initiates further Liberalization Measures: Removes Cap on IMTO Exchange Rates
In a bold shift towards a more liberalized foreign exchange regime in Nigeria, the Central Bank of Nigeria (CBN) has issued a circular, removing...
Potential Impacts of CBN’s New Measures to Curb Currency Speculation on the FX market
In a significant move to counteract suspected cases of excessive foreign currency speculation and hoarding by Nigerian banks, the Central Bank of Nigeria (CBN)...
Naira’s Fall to N1,482/$1 in NAFEM suggests A Move for Convergence by the CBN
In a surprising turn of events on Tuesday, the foreign exchange market experienced an unusual occurrence as the naira reached N1,482/$1 on the Nigerian...