Category: foreign exchange

Nigeria’s foreign reserves surge by $262m after weeks of decline

Nigeria’s foreign exchange reserves have recently surged by $262 million after weeks of decline. The Central Bank of Nigeria’s latest figures showed an upward movement of the country’s foreign reserves. Specifically, Nigeria’s reserves rose to $32.369 billion as of May 6, 2024, an improvement from a one-month dip of $32.107 billion. According to CBN’s data, […]

Buy made-in-Nigeria goods to strengthen Naira, Tinubu urges Nigerians

Mr Ngelale noted that the president also assured Nigerians that his administration is committed to sustaining the efforts to strengthen the naira against the dollar. The post Buy made-in-Nigeria goods to strengthen Naira, Tinubu urges Nigerians appeared first on Premium Times Nigeria. Powered by WPeMatico

Bid by British shareholder to acquire PZ Cussons Nigeria falls apart

The company’s shareholders’ fund or net worth is currently negative after its assets exceeded liabilities by N23.2 billion last November. The post Bid by British shareholder to acquire PZ Cussons Nigeria falls apart appeared first on Premium Times Nigeria. Powered by WPeMatico

Naira to appreciate to 1,200 to a dollar in 12 months – Goldman Sachs

Goldman Sachs stated that positive real interest rates and capital inflows are central to tackling Nigeria’s external liquidity crisis. The post Naira to appreciate to 1,200 to a dollar in 12 months – Goldman Sachs appeared first on Premium Times Nigeria. Powered by WPeMatico

Transcorp’s annual profit doubles to N34.1 billion after surge in energy income

Energy, which contributed 78 per cent of gross revenue, is the heart of the conglomerate, whose other divisions comprise agro-allied business and hospitality. The post Transcorp’s annual profit doubles to N34.1 billion after surge in energy income appeared first on Premium Times Nigeria. Powered by WPeMatico

CBN clears $2bn FX backlog across sectors

This intervention encompasses the complete clearance of liabilities for 14 banks and the initiation of settlements with foreign airlines. The post CBN clears $2bn FX backlog across sectors appeared first on Premium Times Nigeria. Powered by WPeMatico

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