May 9, 2024 By Kelechukwu Mgboji InvestAdvocate Lagos (INVESTADVOCATE)- Nigeria’s lower legislature, House of Representatives, on Thursday, directed the Central Bank of Nigeria (CBN), to immediately halt the implementation of its proposed Cyber Security Levy, citing non compliance with the provisions of the country’s Cybercrime Act. The directive to halt […]
Updates
Fitch Revises Nigeria’s Outlook to Positive; Affirms at ‘B-‘
May 9, 2024/Fitch Ratings Fitch Ratings has revised the Outlook on Nigeria’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to Positive from Stable and affirmed the IDR at ‘B-‘. Key Rating Drivers The revision of the Outlook reflects the following key ratings drivers and their relative weights: High Significant Reform: The Positive […]
IMF Projects Nigeria’s Inflation to Decline to 24% Year-on-Year at End-2024.
May 9, 2024/IMF Nigeria, under its new administration, has set out on an ambitious reform path to restore macroeconomic stability and support inclusive growth. The authorities reformed the fuel price subsidies, unified official foreign exchange windows, and are focused on revenue mobilization, governance, and enhancing the monetary and exchange rate […]
