The Nigerian currency, the naira, gained about N37 in the last 10 days, making dollar hoarding risky, as the Central Bank of Nigeria (CBN) continues to intervene.
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Naira rally narrows FX gap to just N10 as CBN targets $1bn monthly remittances
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Food prices: Rice, beans, garri crash in markets as Tinubu gives order to FEC
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CBN recapitalisation: Two national banks enter secret merger talks to beat the deadline
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Naira hits highest level in months at N1,497 per dollar, black market rates appreciate
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Union to vote on deal to end strike at Boeing defense branch
Economy Latest News
US banks rise on results, but warn on inflation and wars
Shares of US banks jumped Friday following strong results, but executives cautioned that beneficial industry conditions were moderating and said wars in Ukraine and the Middle East adding uncertainty. "My caution is that we are facing so many uncertainties out there," he said.
At IMF-World Bank talks, small steps in climate finance
The IMF and World Bank have been holding their first annual meetings in Africa in 50 years under pressure to reform a system too outdated to properly help poor nations battered by the effects of climate change.
Cardoso's CBN to withdraw financial support for farmers, others after disbursing N9.7trn in three years
The CBN intends to stop its involvement in the area of development financing in order to concentrate on advising responsibilities on economic growth.
US Fed on track for a 'soft landing': senior offical
The US Federal Reserve is on track to achieve the rare feat of lowering inflation without causing a damaging recession, a senior central bank official said Friday. On Friday, another member of the Fed's rate-setting committee said the central bank is on track to do so.
JPMorgan Chase profits jump, warns on inflation and wars
JPMorgan Chase reported another highly profitable quarter Friday, but warned inflation could persist and said wars in Ukraine and the Middle East mean this "may be the most dangerous time the world has seen in decades." This may be the most dangerous time the world has seen in decades," Dimon said.
IMF, World Bank urge funds for poverty, climate fights
The heads of the IMF and World Bank urged member nations on Friday to boost the funding firepower of the global lenders to help poorer countries combat poverty and climate change. Banga has pushed for change at the bank since President Joe Biden nominated him to succeed David Malpass, who stepped down early from his five-year term following questions about his stance on climate change.
Disasters cause $3.8 tn in crop loses over 30 years: FAO
Natural and man-made disasters have caused $3.8 trillion in crop and livestock loses over 30 years, the UN's Food and Agricultural Organization said on Friday.
Microsoft, 'Call of Duty' maker set to seal tie-up
Xbox-maker Microsoft and Activision Blizzard, whose video games include "Call of Duty" and "Candy Crush", are set to seal one of the biggest technology tie-ups after overcoming final hurdles Friday. Microsoft and Sony, which had previously tried to block the Activision deal, agreed in July to keep releasing "Call of Duty" on the PlayStation.
TSMC applies for 'permanent' permit to export US equipment to China factory
Taiwanese semiconductor giant TSMC said Friday it has applied for -- and expects to receive -- permanent authorisation from Washington to allow the export of US chip-making equipment to its China-based factory. After South Korea announced Monday its chip giants had received the US green light to send equipment to China, attention turned to the Taiwanese firm.
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