Tags : naira

Business Covid-19 Latest News News Nigeria

FEC Approves 895.84 Billion Naira Supplementary Budget For Covid-19, Military

THE Federal Executive Council, FEC, Wednesday approved the draft 2021 supplementary budget of N895,842,462,917. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, disclosed this while briefing State House correspondents at the end of the Council meeting presided over by President Muhammadu Buhari at the presidential villa, Abuja. The Minister explained that the […]Read More

Business Latest News News Nigeria

Naira depreciates as external reserves decline persists to $36.12bn

The naira last week buckled under the weight of increased  dollar demand,  depreciatiating in both   the parallel market and the Investors and Exporters (I&E) window, even as the nation’s external reserves   declined further to $36.12 billion last week.   Data from the Central Bank of Nigeria (CBN) showed that the external reserves fell to $36.116 billion Wednesday last week from […]Read More

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CBN Bows To Pressure, Devalues Naira Again

• ‘Timing coincidental, nothing to do with IMF, World Bank’• Economists advocate currency, lifestyle audit• Moghalu, Sanusi, others disagree on exchange rate unification The country’s fiscal state faces tougher times as the Central Bank of Nigeria (CBN) bowed to pressure, last week, and further devalued the local currency. The adjustment of the exchange rate at […]Read More