August 31, 2016/FDC Slightly below analyst consensus, headline inflation spiked further to 17.1% in July from 16.5% in June, a 0.6% increase. It was driven mainly by supply shocks, forex scarcity, speculation and uncertainty premium. Most notable in the consumer basket was the increase in the food and core indices […]

August 31, 2016/Punch Oyetunji Abioye The naira plunged to 418 against the dollar at the parallel market on Tuesday as scarcity of foreign exchange continued to weigh on the official interbank and black market. The local currency, which closed at 414 against the greenback on Monday, traded at 415 in […]

August 30, 2016/CBN In furtherance of efforts to liberalise the Foreign Exchange Market, ensure liquidity and make foreign exchange more readily available to low end users, the Central Bank of Nigeria (CBN) has licensed more International Money Transfer Operators (IMTOs) to operate in Nigeria. In line with the existing Guidelines […]