Category: Business and Economy

PUBLIC MEMORANDUM Subject: Credibility Crisis in the Nigerian Tax Reform Act and the Imperative of Constitutional Accountability To: The President, Federal Republic of Nigeria @officialABAT The Senate President and Members of the Senate @NGRSenate The Speaker and Members of the House of Representatives @HouseNGR @nassnigeria “I write as a citizen and economic policy practitioner who...

NGN → USD Rates NFEM (Official) Rate Official Market: Parallel Market: Market Drivers: Regular interventions by the CBN, including foreign exchange auctions, have helped limit sharp movements in the official market. Global crude oil prices also remain critical, as oil exports are Nigeria’s main source of foreign exchange earnings. OUTLOOK: Economic analysts expect the naira to...

World Trade Organisation Director General Dr. Ngozi Okonjo-Iweala in a post disclosed that she will be spending the Christmas period in her home village located in Abia state while congratulating her state governor Alex Otti for commissioning first set of electric buses in the state. Part of her statement read: “Abia is working hard to...

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...