Naira stability
Experts hail stronger yuan-naira exchange on bold FX policies
Nigeria’s ongoing foreign exchange (FX) reforms are beginning to reshape global trade dynamics, with experts affirming that the naira’s relative stability is supporting direct currency exchanges with the Chinese yuan. Analysts argue that the policies introduced by the Central Bank of Nigeria (CBN) have not only helped calm the volatile FX market but are also […]
Foreign Reserves soar $900M in three Days, boosting naira stability
Nigeria’s gross foreign reserves have continued their upward trajectory, recording a remarkable $900 million increase over three days to reach $41.19 billion as of August 25, the Central Bank of Nigeria (CBN) reported. The reserves, which stood at $41.10 billion on August 22, reflect sustained forex inflows and a strengthened macroeconomic environment. CBN Governor Dr. […]
IMF Forecast Signals Relief for Borrowing Costs and Economic Stability
Nigeria’s economic recovery is gaining momentum as the International Monetary Fund (IMF) revised its 2025 GDP growth projection to 3.4%, up from the previous 3.0%, igniting investor optimism, hopes for lower borrowing costs, and renewed interest in the Nigerian capital market. According to the IMF’s July 2025 World Economic Outlook, the revision was anchored on […]
IMF Endorses Economic Reforms, Urges Comprehensive Budget Overhaul
The International Monetary Fund (IMF) has commended Nigeria’s recent wave of bold economic reforms—particularly those spearheaded by the Central Bank of Nigeria (CBN)—but has warned that a comprehensive overhaul of the 2025 budget is necessary to guard against growing fiscal vulnerabilities amid falling oil prices and persistent revenue challenges. In its just-released Article IV Consultation […]
CBN: FX Inflows via IMTOs Hit $4.76bn
Foreign exchange inflows into Nigeria through International Money Transfer Operators (IMTOs) surged by 44.49% to reach $4.76 billion in 2024, marking a significant recovery in remittance activity and foreign currency supply amid continued economic reforms by the Central Bank of Nigeria (CBN). This development, disclosed in the CBN’s latest Quarterly Statistical Bulletin, reflects a substantial […]
Naira Stability and Inflation: The CBN Monetary Policy Explained
The Central Bank of Nigeria (CBN) has taken a decisive step towards stabilizing the naira and curbing inflation, marking a significant shift in the country’s macroeconomic landscape. At the 299th Monetary Policy Committee (MPC) meeting, the CBN opted to maintain the Monetary Policy Rate (MPR) at 27.5%, a move that underscores its commitment to balancing […]