Category: Business and Economy

NGN → USD Rates NFEM (official) Rate Official Market: Parallel Market: Market Drivers: The gap between the official and parallel rates remains a point of focus for the CBN, as it attempts to unify the windows. While the spread has narrowed compared to previous quarters, the informal market remains a primary source for individual travelers and...

Thailand on Thursday helped launch a global effort to fight the spread of online scams that include criminal enterprises based largely in Southeast Asia estimated to bilk billions of dollars annually from victims around the world. Thailand’s Ministry of Foreign Affairs and the United Nations Office on Drugs and Crime hosted a conference in Bangkok on Wednesday...

The listing aims to allow every Nigerian to become a direct owner of the refinery, emphasizing its status as a legacy project. Dangote expressed that there would be no purchasing limits for shares, allowing investors significant participation in ownership. The refinery seeks to pay dividends in U.S. dollars to benefit both local and diaspora Nigerians.

NGN → USD Rates NFEM (official) Rate Official Market: Parallel Market: Market Drivers: Liquidity injections by the CBN through authorized dealers have provided some relief to the official market. Stable global oil prices have supported foreign reserves, giving the apex bank room to intervene. OUTLOOK: Market analysts note that the Central Bank of Nigeria (CBN) has...

Eurozone inflation held steady at 2.1% in November, revised data showed on Wednesday, December 17, reinforcing expectations that the European Central Bank would keep rates unchanged this week. The initial estimate by the EU’s statistics agency had shown annual inflation in the single currency area ticking up to 2.2% – moving away from the bank’s...

NGN → USD Rates NFEM (official) Rate Official Market: Parallel Market: Market Drivers: CBN intervention of $250 million to bolster dollar supply; Significant drop in inflation from 16.05% (Oct) to 14.45% (Nov); Declining overall FX market inflows from the previous week. OUTLOOK: Market sources said recent interventions helped prevent sharper depreciation despite global oil price swings...

Children’s names and the alleged Secondary Schools they attended in Switzerland (each for approximately 6 years): – Faisal Farouk: Montreux School – Farouk Jr.: Aiglon College – Ashraf Farouk: Institut Le Rosey – Farhana Farouk: La Garenne International School Alleged Costs Released: – Total for secondary education (tuition, upkeep, air tickets, etc.): Over $5 million...

Nigeria’s headline inflation rate eased by 1.6 percentage points to 14.45 per cent in November 2025, down from 16.05 per cent recorded in October 2025, marking the lowest level in five years. According to the NBS, “In November 2025, the headline inflation rate eased to 14.45 per cent relative to the October 2025 headline inflation...

NGN → USD Rates NFEM (official) Rate Official Market: Parallel Market: Market Drivers: Central Bank of Nigeria (CBN) liquidity management; High benchmark Monetary Policy Rate (MPR) at 27.00%; Early stages of anticipated year-end corporate and personal FX demand. OUTLOOK: Currency analysts attribute the relative stability in the official window to a combination of increased liquidity injections...

NGN → USD Rates NFEM (official) Rate Official Market: Buying: ₦1,448.68/ USD Parallel Market: Buying: ₦1,475 / USD Selling: ₦1,495 / USD Market Drivers: Analysts said improved liquidity control helped narrow the long-standing gap between official and street rates. OUTLOOK: The Monetary Policy Rate remains high at 27 per cent, aimed at curbing inflation and attracting foreign...