Overseas remittances to Nigeria and other sub-Saharan African countries will increase from $33bn in 2014 to $34bn in 2015, according to the World Bank Remittances Brief. The Chief Executive Officer, HomeSend, an international transfer hub created by MasterCard, eServGlobal and BICS, Mr. Stephen Doyle, while quoting the World Bank data, […]

Following the inauguration of the new administration, the naira may be devalued again to reflect the recent drop in Nigeria’s foreign reserves, analysts at Renaissance Capital have said. The analysts said this in a report, ‘Nigeria beyond May 29: Managing expectations,’ which was made available to our correspondent on Friday. […]

Thu May 28, 2015/Reuters May 28 Nigeria’s foreign exchange reserves rose to $29.61 billion by May 27, up by 0.3 percent from a month ago, data from the central bank showed on Thursday. However, reserves of Africa’s biggest economy and top crude exporter fell 20.3 percent year-on-year from $37.14 billion.