BUSINESS
Naira Faces Fresh Pressure as Parallel Market Rates Weaken Despite Official FX Stability
The Nigerian Naira began the week under renewed pressure in the unofficial foreign exchange market, commonly referred to as the black or parallel market. On Monday, November 24, 2025, the Dollar-to-Naira rate in the parallel market traded around levels notably weaker than those reported on the Nigerian Foreign Exchange Market (NFEM). Key Parallel Market Rates: Buying (Dealers buy from the public):...
Nigeria’s External Reserves Increases To $46bn
The Governor of the Central Bank of Nigeria (CBN), Mr. Yemi Cardoso yesterday said that the nation’s external reserves has risen to $46.7 billion, representing the highest in seven years, since 2028. Cardoso disclosed this in Abuja at the opening of the Monetary Policy Department 20 years anniversary colloquium, adding that this level of reserves can cover over 10 months...
Abia Govt Takes Back Abia Hotels Umuahia After 12 Years of Failed Agreement
The Abia State Government has officially revoked the Certificate of Occupancy of Abia Hotels, Umuahia, and taken back full possession of the property following what it described as a prolonged breach of contractual terms by the facility’s lessee, Investment Guarantee Limited. According to a public statement issued on Sunday, November 16, 2025, by the Chief Press Secretary to the Governor,...
“Ghana Scraps Covid Levy, Cuts VAT to Boost Economic Growth”
Ghana has abolished its Covid-19 Health Recovery Levy and reduced value-added tax as part of broader efforts to stimulate economic growth, the government announced on Thursday. Finance Minister Cassiel Ato Forson said the reforms would return GHS 5.7 billion ($520 million) to households and businesses in 2026. Presenting the new measures to Parliament, Forson explained that the overhaul aims to...
Nigeria’s Private Sector Credit Increased To 75.9% In 2-years
Credit to the Private sector, CPS, in Nigeria has expanded significantly in the last two years, growing by 75.9 % to hit all time high of N117.783 trillion as at September 2025 from N66.944 trillion in the corresponding period 2023. CPS includes loans, trade credits and other account receivables and supports provided by banks to the private sector within a...
FG Unveils Plans To Boost Food Production
The Federal Government has unveiled new agricultural reforms aimed at ending hunger, boosting food production, and reducing post-harvest losses estimated at over $10bn annually, in line with President Bola Tinubu’s Renewed Hope Agenda for food security and national prosperity. The Minister of Agriculture and Food Security, Senator Abubakar Kyari, and the Minister of State, Senator Sabi Abdullahi, announced this through...
Naira, Stocks Weakens After Trump’s Military Threat
Nigeria’s financial markets began November 2025 on a sour note as the naira and equities weakened sharply following remarks by United States President Donald Trump, who threatened possible military action against Nigeria over alleged religious persecution. Data from the Central Bank of Nigeria showed that the naira, which had traded at a 2025 peak of N1,421.73/$, depreciated to N1,436.34/$ on...
NFEM Records Dollar Strengthening Against Naira At Exchange Rate Today
The Nigerian Foreign Exchange Market (NFEM) recorded a strengthening of the Naira against the US Dollar on October 28, 2025, while the parallel market rate maintained a relatively stable position. Currency traders and businesses are closely monitoring the market dynamics following recent CBN interventions and policy adjustments. As of the latest reporting time today, the official exchange rate in the...
CBN Seeks Governors’ Support On Monetary Policy Reforms
The Central Bank of Nigeria (CBN) has called for the support of state governors across the federation for its ongoing monetary policy reforms, aimed at restoring macroeconomic stability and rebuilding investor confidence in the Nigerian economy. This was contained in a communiqué issued at the end of the Nigeria Governors’ Forum (NGF) meeting held on Thursday in Abuja. According to the...
Cardoso Reaffirms Commitment To Enhance Financial Stability
The Central Bank of Nigeria (CBN) has reaffirmed its commitment to shaping global regulatory frameworks for stablecoins and other digital assets, emphasizing that innovation must enhance financial stability. Olayemi Cardoso, governor of the CBN, made this known in Washington D.C. while briefing journalists at the close of the 2025 annual meetings of the International Monetary Fund (IMF) and the World...
![Ohafia Monarchs Reject 'UDUMEZE OF OHAFIA' Title, Insist It's Unrecognized, Misleading [Document Attached]](https://abntv.com.ng/wp-content/uploads/2025/07/FB_IMG_1752179354516-300x194.jpg "Ohafia Monarchs Appeal For Calm, Reaffirm Neutrality In Ohafia Improvement Union Election Process")
![Ohafia Monarchs Reject 'UDUMEZE OF OHAFIA' Title, Insist It's Unrecognized, Misleading [Document Attached]](https://abntv.com.ng/wp-content/uploads/2025/07/FB_IMG_1752179354516-100x75.jpg "Ohafia Monarchs Appeal For Calm, Reaffirm Neutrality In Ohafia Improvement Union Election Process")