Currency outside banks rises 119% as banks’ reserves up 79%
Peter Egwuatu Currency outside banks in Nigeria more than doubled in three years, rising by 119.3 per cent between August 2023 and August 2026, according to the Central Bank of Nigeria, CBN’s Money and Credit Statistics. The amount of currency outside the banking system increased to N4.874 trillion in August 2026, from N2.223 trillion in […]
NAFDAC bans importation of beans into Nigeria
The Nigerian Agency for Food and Drug Administration and Control (NAFDAC), has announced the banning of foreign beans into the country except those screened by the Agency.
Naira ends 2day rally, depreciates to N355/$
The improving fortune of the naira in the parallel market was reversed yesterday as the currency depreciated to N355 per dollar in the market.
Who is “killing” the Naira?
The assumption that Nigeria is divided between those who “want” devaluation and those who oppose it is a false appearance. Any rational Nigerian, especially middle class individuals, who can be assumed to be rationally self-interested “want” a strong currency so that they can maintain real purchasing power and lifestyles in a globalized consumerist economy.
NSC seeks Customs’ support to make Nigerian ports hub for sub-region
The Nigerian Shippers’ Council (NSC) has solicited for support of Nigeria Customs Service to enhance the efficiency of Nigerian ports and make it a hub for the sub-region.
FG forecasts zero fuel subsidy in this year
THE Federal Government has said that the novel price modulation mechanism currently in place will ensure that it records zero expenses on fuel subsidy in 2016.
