Browsing: Nigeria

Amidst Nigeria’s foreign exchange crisis, the apex bank said it has started to clear outstanding foreign currency forwards owed to deposit money banks.

President Bola Tinubu on Wednesday in Abuja urged members of his cabinet to work assiduously towards achieving the mandate of their ministries or be ready to leave the government.

Euromonitor International has forecast the GDP of Sub-Saharan Africa to double by the year 2040 from the 2022 figure of USD 2 trillion to over USD 4.5 trillion.

Vice President Kashim Shettima has sought the assistance of the United States Government on President Bola Tinubu’s administration’s food security agenda.

The benchmark yield on Nigerian Treasury Bills has expanded further amidst selloffs pressures in the secondary market. At the close of the trading session on Wednesday, the yield shifted upward by 20 basis points to 11.1% as investors’ risk appetite continued to shift.

Oil prices climbed as the US Federal Reserve maintained the status quo on funds rates, while the dollar index strengthened against a basket of currency.

President Bola Tinubu has sought the approval of the Senate for the 2022-2024 external borrowing plan of 7.8 billion dollars and 100 million euros.

The World Bank says Nigeria’s COVID-19 Action Recovery and Economic Stimulus (NG-CARES) programme is doing well in addressing poverty in the country.

The United Kingdom (UK), said that it had renewed its partnership with the Nigerian Government.

In just two days’ rallies, Airtel Africa Plc’s share jumped by about 21% to N6.4 trillion, according to data from the Nigerian Exchange. Investors took positions in the stock despite a weak earnings performance spooked by higher net finance costs.