The naira depreciated slightly against the US dollar in the official foreign exchange market on Monday, closing at ₦1,536.42/$1 compared to ₦1,535.03/$1 on Friday, according to Central Bank of Nigeria (CBN) data. However, the naira strengthened in the parallel market, appreciating by ₦5 to close at ₦1,540/$1. Meanwhile, Nigeria’s external reserves rose by $242.08 million…
President Bola Tinubu on Friday urged Nigerians to try a newly launched Personal Income Tax calculator designed to estimate how much tax would be paid under the reforms recently signed into law. In a post on his official X account, the President said the calculator allows citizens to compare their estimated tax under the proposed…
The Naira recorded its first appreciation against the dollar at the official foreign exchange market on Thursday. According to the Central Bank of Nigeria, the Naira strengthened slightly to ₦1,535.78 per dollar from ₦1,536.73 on Wednesday—an improvement of ₦0.95, or 0.062 percent. Meanwhile, at the parallel market, the Naira remained stable at ₦1,550 per dollar….
Nigeria’s foreign exchange reserves rose to $40.16 billion last week, boosted by higher forex inflows and a marginal increase in crude oil output. Central Bank of Nigeria (CBN) figures show reserves climbed from $37.934 billion on April 30 to the current level. Nigeria’s oil output rose by 0.67 per cent in July to 1.51 million…
The Nigeria Labour Congress (NLC) has threatened a nationwide strike if the Federal Government fails to return what it alleges are billions of naira taken from workers’ insurance contributions. The union also demanded that the government fill the leadership vacuum at the National Pension Commission (PenCom) within one week. NLC accused the government of siphoning…
The naira yesterday appreciated to ₦1,560 per dollar in the parallel market from ₦1,565 last Friday. However, it weakened slightly in the Nigerian Foreign Exchange Market (NFEM), falling to ₦1,538.4 per dollar from ₦1,534.9, a ₦3.5 depreciation. According to Central Bank of Nigeria (CBN) data, the gap between the parallel market and NFEM rates narrowed…
The Federal Government has reaffirmed its commitment to achieving a $1 trillion economy by 2030 through key reforms in industrialization, innovation, and digital transformation. Speaking at a Domestic Investment Summit in Abuja, Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said the initiative is in line with President Bola Tinubu’s 8-point Renewed Hope Agenda….
The naira closed last week weaker, falling by 0.14% to ₦1,532.34 per dollar at the Nigerian Foreign Exchange Market. This occurred despite Central Bank interventions that briefly pushed the rate to a four-month high earlier in the week. Analysts continue to emphasize that sustained improvement in foreign exchange liquidity and policy consistency are critical to…