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CBN To Refinance N369 Billion In Maturing Treasury Bills At Upcoming Auction

2 days ago | bizwatchnigeria.ng | Boluwatife Oshadiya

The Central Bank of Nigeria (CBN) is set to roll over Treasury bills totaling N369 billion through a Primary Market Auction (PMA) slated for Wednesday. In preparation, the apex bank plans to offer N400 billion worth of Treasury bills across standard maturities, as part of efforts to refinance the maturing instruments. Market analysts have hinted at the possibility of a downward adjustment in interest rates during the exercise.
Liquidity Surge Drags Down Money Market Rates Ahead Of Treasury Auction

2 days ago | bizwatchnigeria.ng | Boluwatife Oshadiya

Short-term interest rates in Nigeria’s money market dropped sharply on Tuesday as a result of excess liquidity in the banking system, ahead of a scheduled treasury bills auction. The decrease in rates follows reduced borrowing at the Central Bank of Nigeria’s (CBN) Standing Lending Facility and robust funding within the financial system. According to market analysts, bond coupon inflows of N145 billion offset recent FX settlement outflows by the CBN, maintaining a strong liquidity profile.
IMF Forecasts Nigeria’s Inflation To Hit 37% By 2026

2 days ago | bizwatchnigeria.ng | Boluwatife Oshadiya

The International Monetary Fund (IMF) has projected that Nigeria’s headline inflation will average 26.5% in 2025 and is likely to rise to 37.0% in 2026, despite recent efforts by authorities to rebase inflation data. These projections, contained in the IMF’s April 2025 World Economic Outlook (WEO), suggest a cautious outlook for Nigeria’s macroeconomic environment amid ongoing reforms and global economic uncertainties.
Nigerian Stock Market Records N321 Billion Gain As NGX Index Climbs 0.49%

2 days ago | bizwatchnigeria.ng | Boluwatife Oshadiya

The Nigerian Exchange (NGX) maintained its bullish trajectory on Tuesday as the All-Share Index (ASI) gained 49 basis points, translating to a N321 billion boost in market capitalization. Following the public holiday, the local equities market reopened on a positive note, driven by renewed buying interest in select mid- and large-cap stocks.
Naira Weakens Further Despite CBN’s $50 Million Forex Intervention

2 days ago | bizwatchnigeria.ng | Boluwatife Oshadiya

The Nigerian naira lost ground against the US dollar on Tuesday, despite an attempt by the Central Bank of Nigeria (CBN) to bolster liquidity through a $50 million foreign exchange intervention. CBN data revealed that the Nigerian Foreign Exchange Market settled at N1,602.63 per dollar, down from the opening rate of N1,599.93. Throughout the day, trading in the official FX window saw the naira-dollar rate fluctuate between N1,598.50 and N1,610.00.
Nigeria Seeks Debt Relief, Inclusive Economic Growth At IMF/World Bank Meetings

2 days ago | bizwatchnigeria.ng | Boluwatife Oshadiya

The Federal Government has announced its intent to use the ongoing International Monetary Fund (IMF) and World Bank Spring Meetings as a strategic platform to pursue debt relief measures and promote inclusive economic growth. Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who is leading Nigeria’s delegation in Washington, D.C., is expected to engage global financial stakeholders on reforms, international cooperation, and long-term economic sustainability.
Philip Costa To Light Up Nigeria With New Major Solar Energy Project

2 days ago | bizwatchnigeria.ng | Boluwatife Oshadiya

Renewable energy advocate, Philip Costa is on a mission to power Nigeria’s future—one solar panel at a time. Through his NGO, the Incorporated Trustees of Advocates of Solar Panels Association (ITASPA), Costa is launching a large-scale solar energy project aimed at electrifying underserved communities across the country. With millions of Nigerians still living without reliable electricity, Costa’s initiative couldn’t come at a better time.
UK Receives Over 22,000 Asylum Applications From Nigerians Between 2010 And 2024

2 days ago | bizwatchnigeria.ng | Boluwatife Oshadiya

The United Kingdom has recorded 22,619 asylum applications from Nigerian nationals between 2010 and 2024, according to newly published year-end Asylum and Resettlement Statistics released by the UK Home Office. The data indicates that Nigerians constituted approximately one in every 30 asylum claims filed in the UK during the period under review, placing the country 11th on the Home Office’s list of top origin countries for asylum applicants.
Trump's Assault On Powell Sends US Markets And Dollar Tumbling

2 days ago | bizwatchnigeria.ng | Boluwatife Oshadiya

US financial markets faced renewed volatility as former President Donald Trump intensified his criticism of Federal Reserve Chairman Jerome Powell, calling him “a major loser” for allegedly failing to act swiftly to reduce interest rates. In a social media post, Trump lambasted Powell’s reluctance to implement pre-emptive rate cuts, accusing the central bank chief of being chronically slow in responding to economic developments.
Dollar To Naira Exchange Rate For 22nd April 2025

2 days ago | bizwatchnigeria.ng | Boluwatife Oshadiya

The exchange rate between the Naira and the US dollar, according to the data released on the FMDQ Security Exchange, the official forex trading portal, showed that the Naira closed at 1610.00 per $1 on Tuesday, April 22, 2024. Naira traded as high as 1595.00 to the dollar at the investors and exporters (I&E) window on Monday. Table of ContentsToggleHow much is a dollar to naira today in the black market?