₦airaland Forum

The Nigerian foreign exchange (FX) market remained stable on Monday, with the naira sustaining gains attributed to recent policy interventions by the Central Bank of Nigeria (CBN).

Data from the Financial Markets Dealers Quotations (FMDQ) showed that the naira appreciated by 1.10 per cent, trading at.......

https://ratecaptain.com/naira-maintains-gains-on-cbns-fx-policies-as-naira-stands-at-n1419/#google_vignette

Despite collectively spending at least N21.04 billion on foreign trips in the last three years, 14 Nigerian states have failed to attract any foreign investments. The states in question.......

https://ratecaptain.com/nigerian-states-spend-n21-04-billion-on-foreign-trips-as-its-fails-to-attract-foreign-investments/

Naira recorded a further depreciation against the US Dollar on Tuesday, January 16, 2024, reaching a new low of .....

https://ratecaptain.com/naira-hits-drops-to-n1300-at-parallel-market-calls-for-national-concern/

The MSCI Nigeria Indexes, a cornerstone of global investment portfolios, are about to undergo a transformation that could significantly reshape the investment landscape. This development stems from an enduring .......

https://ratecaptain.com/from-frontier-to-standalone-msci-nigeria-reclassification-shakes-up-global-investments/

PremiumTrust Bank, a renowned 21st-century financial institution, has announced its Graduate Trainee Program.

This program is designed to provide fresh graduates with the opportunity to kickstart their careers in the dynamic world of finance and banking. The bank invites applications from......

https://ratecaptain.com/premiumtrust-bank-announces-graduate-trainee-program-for-young-talent/

The House of Representatives has taken action on the recent decision made by the Central Bank of Nigeria (CBN) to remove foreign exchange restrictions on 43 items. In response to this development, they have summoned......

https://ratecaptain.com/house-of-representatives-summons-cbn-governor-over-forex-restrictions-removal/

In the world of financial markets, it is imperative to rely on substantiated and official information when assessing economic developments. The rumor surrounding Nigeria’s potential return to Naira redenomination, despite the denial by the Central Bank of Nigeria (CBN), necessitates a cautious..........


https://ratecaptain.com/the-redenomination-rumor-analyzing-nigerias-naira-stability/

As Nigeria grapples with skyrocketing inflation and increasing living costs, an alarming number of its citizens are turning to sports betting and loans to bridge the widening gap between their incomes and.......

https://ratecaptain.com/rising-inflation-and-living-costs-drive-nigerians-to-sports-betting-and-loans/

In a significant move aimed at revitalizing Nigeria’s economy and addressing widespread tax evasion, the Federal Government is embarking on an ambitious plan to overhaul the nation’s tax system. The primary objectives of this reform are to......

https://ratecaptain.com/fg-to-shift-tax-burden-to-wealthy-citizens-and-cut-corporate-taxes/

The Federal Government has recently urged the Central Bank of Nigeria (CBN) to reduce the number of Bureau de Change (BDC) operating in the country from over 5,000 to about 200. According to Tope Fasua, Special Adviser on Economic Affairs for President Tinubu at an.......

https://ratecaptain.com/cbn-to-reduce-number-of-bdcs-fg/

The exchange rate between the naira and the US dollar traded for an average of N945/$1 on Thursday, September 14, 2023, indicating a depreciation of.......

https://ratecaptain.com/naira-depreciates-to-n945-in-the-parallel-market/

In a move aimed at driving economic reforms and bolstering better administration, Lagos State Governor Babajide Sanwo-Olu has undertaken a significant reshuffling of his cabinet. The Lagos State House of Assembly yesterday confirmed 22 out of the 39 cabinet nominees submitted by Governor Sanwo-Olu for screening. This strategic step aims to position to...........

https://ratecaptain.com/lagos-state-governor-makes-key-cabinet-changes-for-enhanced-economic-reforms/

Nigeria’s Minister of Transportation, Sa’idu Alkali, has pledged his commitment to laying the groundwork for a successful electric vehicle (EV) rollout in the country. His goal is to address the soaring transportation costs faced by Nigerians, attributed in part to the removal of fuel subsidies. Alkali made these remarks upon.........

https://ratecaptain.com/transport-minister-vows-to-introduce-electric-vehicles-to-tackle-escalating-expenses/

CBN Implements Stricter Reporting and Transaction Guidelines for Bureau de Change Outlets

In a move aimed at enhancing transparency and stability in Nigeria’s foreign exchange market, the Central Bank of Nigeria (CBN) has issued new guidelines for Bureau de Change (BDC) outlets. The guidelines, which were released on Thursday, include.........

https://ratecaptain.com/cbn-implements-stricter-reporting-and-transaction-guidelines-for-bureau-de-change-outlets/

The Tertiary Education Trust Fund (TETFund) has raised concerns about the obstacles posed by the recent policy changes from the Central Bank of Nigeria (CBN), which have impacted the payment of foreign scholarship tuition fees and stipends. Sonny Echono, the executive secretary of TETFund, addressed this issue during........

https://ratecaptain.com/tetfund-to-suspend-foreign-scholarships/

First City Monument Bank (FCMB) Limited, a key player in the financial services sector and a subsidiary of FCMB Group Plc, is on the lookout for a talented and motivated individual to join their team as a..........

https://ratecaptain.com/fcmb-bank-job-recruitment-business-and-operational-risk-analyst/

The Consumer Prices Index, including owner occupiers’ housing costs (CPIH), experienced a notable increase of 6.4% in the 12 months leading up to July 2023, reflecting a decrease from June’s 7.3% and a substantial drop from the peak of 9.6% in October 2022. Notably, our predictive model suggests that October 2022 marked the highest inflation rate in over four decades, a milestone since the CPIH National Statistic series inception in January 2006. Meanwhile, the July 2023 rate is the lowest recorded since March 2022.

The easing of the annual rate from June to July 2023 can be attributed to ......

https://ratecaptain.com/uk-inflation-records-6-4-increase-as-japa-awareness-grows/

In a concerning economic development, Nigeria’s headline inflation rate surged to 24.08% in July 2023, up from 22.79% in June of the same year. The rise of 1.29% points within a single month has raised alarms among analysts.......

https://ratecaptain.com/unpacking-julys-inflation-surge-economic-concerns-mount-as-inflation-rate-rises-in-2023/

The struggling oil and gas sector in Nigeria has encountered another blow as the country’s crude oil production dipped to a three-month low of 1.081 million barrels per day (bpd) in July. This setback can be attributed to ongoing crude oil theft and a leak at.........

https://ratecaptain.com/surge-in-crude-oil-theft-plunge-nigerias-oil-output-to-3-month-low-second-lowest-in-2023/

Amidst persistent speculation about the longevity of the US dollar’s reserve currency status, experts are calling for a reality check on the so-called ‘de-dollarization’ trend. As Nigeria makes strides towards internationalizing..........

https://ratecaptain.com/skepticism-over-de-dollarization-usds-reserve-currency-status-to-persist/

The FirstBank Technology Academy is back with its highly anticipated Season 2, providing a golden opportunity for young graduates in Nigeria to delve into the realm of technology and embark on promising tech careers. This initiative, initiated by FirstBank, one of Nigeria’s leading financial institutions, aims to groom the next generation of tech leaders and innovators by nurturing their talents and fostering their growth.

Eligibility Criteria:
To participate in the FirstBank Technology Academy, candidates must meet the following eligibility criteria..........


https://ratecaptain.com/firstbank-technology-academy-opens-application-for-young-graduates-to-explore-tech-careers/

In a decisive move, President Bola Tinubu has directed the Central Bank of Nigeria (CBN) to enforce stricter sanctions against coup plotters and their affiliates in Niger Republic. This development comes as a result of the expiration of the ultimatum previously issued and the collective decision of ECOWAS Heads of State to impose financial penalties on the military junta in Niger Republic.

Speaking to journalists on Tuesday, the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, provided insight into this significant decision. Ngelale stated that President Tinubu’s directive follows..........

https://ratecaptain.com/tinubu-orders-additional-financial-sanctions-on-niger-republic-coup-plotters/

In recent weeks, Nigeria’s economy has been grappling with a significant depreciation of the naira, the country’s currency. The root causes of this depreciation can be traced to a reduction in the foreign reserves held by the Central Bank of Nigeria (CBN) and a surge in the repatriation of dollars by foreign investors. These twin challenges have cast a shadow over the naira’s stability and raised.........

https://ratecaptain.com/foreign-reserve-reduction-and-repatriation-of-dollars-by-foreign-investors-trigger-naira-depreciation-ratecaptain-analyst/