CBN’s Interest Rate Hike Pushes Naira Down Across FX Markets
CBN's decision to increase the interest rate to 17.5% pushed down the value of Naira at the different foreign exchange markets.
How Naira Redesign Has Reduced Kidnapping, Ransom-Taking – CBN
CBN Governor, Godwin Emefiele, says cases of kidnapping and ransom-taking have reduced since the naira notes were redesigned.
Old Notes: January 31st Deadline Will Not Be Extended, Emefiele Insists
CBN says the January 31st deadline is slated to stop receiving old naira notes as legal tender will not be extended.
CBN Raises MPR To 17.5%
The Central Bank of Nigeria has raised the monetary policy rate from 16.5% to 17.5% to combat rising inflation.
Stock Market Closes In Positive Territory As Investors Rake In N34bn
Investors on the floor of the Nigerian Exchange (NGX) Limited raked in N34 billion by end of trading activites on Monday.
Nigeria-China Trade Volume Jumps To $26bn In 2022
The trade volume between Nigeria and China increased to $26 billion in 2022, OduNews reports.
Bulls Remain In Local Stock Market As Investors Gain N5.94bn
The Nigerian Exchange (NGX) Limited closed in the positive territory on Thursday as investors raked in Nw5.94 billion, OduNews reports.
Dangote Cement Board Appoints New GMD
[ODUNEWS] January 19 – The Board of Directors of Dangote Cement Plc has approved the appointment of Mr Arvind Pathak...
Governors of 36 States to Meet with CBN Governor to Discuss Withdrawal Policy and Naira Redesign
The governors of the 36 states in Nigeria have arranged a virtual meeting with the Central Bank of Nigeria’s Governor,...
World Economic Forum Lists Five Risks Affecting Nigeria’s Growth
The World Economic Forum has listed terror attacks and debt crises as two of the five risks hampering Nigeria's growth and development.
Nigeria’s Inflation Rate Falls To 21.34%
Nigeria's inflation recorded its first slide in 11 months as it fell to 21.34% in December, 2022, OduNews reports.
FG Reviews Minimum Wage
The Nigerian government has said that it will begin the process for the review of the national wage, OduNews reports.
Nigeria To Generate N6trn Yearly From Removal Of Fuel Subsidy
Nigeria will earn N6 trillion in revenue yearly if it stops the payment of petrol subsidy, OduNews reports.
Local Stock Market Gains 0.55%
Trading activities on Customs street closed in the positive territory on Wednesday as investors raked in N154.29 billion, OduNews reports.
Bank Deposits Jumps By 19% To N43trn
Cash deposits made to banks between October, 22021 and October 2022 grew 19% to hit N43 trillion, OduNews reports.
28.6% Increase In FX Transactions Weakens Naira
A 28.6% increase in forex transactions in Nigeria has weakened the value of the naira at the Invesrtors and Exporters (I&E) window.
Wema Bank Makes NGX 30 Index List
[ODUNEWS] January 11 – Wema Bank Plc has been placed on the NGX 30 Index by the Nigerian Exchange Limited...
NGX Thrives With 187% Increase In Turnover Despite ASI Slump
The Nigerian Exchange (NGX) Limited recorded a 187% increase in turnover at the close of trading activities on Tuesday, OduNews reports.
Rising Borrowing Costs, Others Threat To Nigeria’s Fiscal Position – W’Bank
The World Bank has said that rising borrowing costs, reduced growth in oil production subdued oil-sector activity will weaken Nigeria’s fiscal position.
Four Nigerian Startups, 21 Others Jostle For AfDB’s $140,000 Grants
Four Nigerian startups and 21 others have been selected to compete for the African Development Bank AgriPitch grant, OduNews reports.