Business
Nigeria’s forex reserves now $37.9bn
Nigeria’s foreign exchange reserves fell to a 4-month low of $37.9 billion as of Nov. 7, down 3.99 per cent month-on-month after the central bank sold dollars to banks to prop up the value of the naira currency. Data published by the central bank on Tuesday showed the reserves were at $39.55 billion on Oct. 10. In July they stood at $37.89 billion. Nigeria’s central bank last week said it will continue to defend the local currency, which has fallen 6 percent so far this year on concerns about lower oil prices and an exit from the local debt and equity markets by offshore investors.
-
Economy1 day agoBPE, stakeholders unite to rollout $500m free meters, DisCos pledge to lead drive
-
Finance1 day agoCBN cuts 1-Year Treasury Bill rate, rejects Bids
-
Business1 day agoMTN to acquire controlling stake in IHS Holdings, eyes full ownership
-
Agriculture1 day agoOver 2.5m metric tonnes of food valued N2trn produced in 2yrs—FG
-
News1 day agoCourt orders British Govt. to pay £420m to 21 coal miners killed by colonial masters
-
Maritime1 day agoNIMASA mulls expansion of deep blue project, calls for continued partnership with Navy
-
Oil and Gas1 day agoDangote refinery backs gantry loading, cautions against costly coastal evacuation
-
Economy2 hours agoDubai’s consumer electronics maker, Maser Group to invest $1.6bn in Nigeria, others