The Nigeria Deposit Insurance Corporation says it has disbursed the insured deposits of N5 million each to 82.36 per cent of the total customers of the defunct Heritage Bank. It also noted that 17.64 per cent of the insured deposits still pending payment mainly belong to depositors with accounts that have Post-No Debits instructions or lack a Bank Verification Number. …

The World Bank Group (WBG) Finances has revealed that the Federal Government is still repaying $10.6 billion in loans obtained under former Presidents Olusegun Obasanjo, late Umaru Musa Yaradua, and Goodluck Jonathan. In June 2024, the Debt Management Office said as of 31 March 2024, Nigeria’s domestic and external debts stood at N121.67 trillion ($91.46 billion). The domestic debt was …

The Naira yesterday appreciated to N1,590 per dollar in the parallel market from N1,595 per dollar on Wednesday. Similarly, the Naira yesterday appreciated to N1,596.52 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,593.62 per dollar from N1,596.52 per dollar on Wednesday, indicating N2.9 appreciation …

The Naira yesterday appreciated to N1,585 per dollar in the parallel market from N1,600 per dollar on Monday. Similarly, the Naira yesterday appreciated to N1,601 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,601 per dollar from N1,607.15 per dollar on Monday, indicating a N6.15 …

The Naira yesterday depreciated to N1,600 per dollar in the parallel market from N1,590 last weekend. Also, the Naira yesterday appreciated to N1,607.15 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,607.15 per dollar from N1,617.08 per dollar last week Friday, indicating N9.93 appreciation for …

The Nigerian Equity Market experienced a downturn on the first trading day of the week on Monday mirroring the broader global market decline. This decline resulted in a N93 billion loss in market capitalisation which now stands at N55.40 trillion. The All-Share Index fell to 97,582.41 points, down 0.17 per cent from the previous close of 97,741.86 points. The day …

The Naira yesterday appreciated to N1,580 per dollar in the parallel market from N1,595 per dollar on Wednesday. Similarly, the Naira yesterday appreciated to N1,570 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,570 per dollar from N1,608.73 per dollar on Wednesday, indicating N38.73 appreciation …

The Naira yesterday depreciated to N1, 595 per dollar in the parallel market from N1,585 per dollar on Tuesday. However, the Naira appreciated to N1,608.73 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,608.73 per dollar from N1,621.12 per dollar on Tuesday, indicating N12.39 appreciation …

On Wednesday, during its emergency session, the House of Representatives approved a new ceiling of 10 per cent for Central Bank of Nigeria’s (CBN’s) Ways and Means advances to the Federal Government amidst disagreement. Section (38) of the CBN Act (2007) limits such advances under ways and means to five per cent of the previous year’s revenue. The House Committee …

The Naira yesterday depreciated to N1, 585 per dollar in the parallel market from N1,580 per dollar on Monday. Similarly, the Naira yesterday depreciated to N1,621.12 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,621.12 per dollar from N1,611.4 per dollar on Monday, indicating N9.72 …