The Journal seeks to become the most reliable, first-choice Pan-Nigerian information and public knowledge platform. The Journal Nigeria is a serious Journalism from an African Worldview
The Journal seeks to become the most reliable, first-choice Pan-Nigerian information and public knowledge platform. The Journal Nigeria is a serious Journalism from an African Worldview
Nigeria’s currency found rare stability on Friday, holding at 1,548 naira to the euro in official trading. The Central Bank of Nigeria has built a foreign exchange buffer that currently fluctuates between 54.08 billion and 54.13 billion dollars. That haul marks the highest reserve level recorded by the monetary authority since December 2008. The steady…
The naira stabilized near 1,362 to the US dollar on Monday morning as foreign exchange markets opened for weekly trading. Central Bank intervention helped quieten immediate panic across official and street trading windows. Yet structural dollar shortages continue to pressure local currency reserves month after month. Traders in Lagos report modest dollar liquidity following late…
Nigeria’s currency closed the trading week on a remarkably even keel, with the naira quoted at about ₦1,368.22 to the United States dollar at the Nigerian Foreign Exchange Market on Friday, August 7, 2026, a level that caps one of the longest stretches of exchange rate calm the country has seen since the market…
Nigeria’s central bank governor now oversees $52.5bn in foreign reserves. Olayemi Cardoso cites market stability and disciplined monetary policy for the swift balance sheet repair. Gross reserves grew to cover eleven months of imports. Net external reserves jumped to $40bn from a perilous $3bn baseline. Foreign currency buffers now offer real defense against external economic…
Households across Nigeria pulled back sharply from bank borrowing in 2025, pushing consumer credit into its first annual contraction in six years as punishing interest rates reshaped how Nigerians and their lenders approached debt. Figures contained in the Central Bank of Nigeria’s 2025 Annual Report and Statement of Accounts show that outstanding consumer credit…
Central Bank of Nigeria Governor Olayemi Cardoso and World Trade Organisation Director-General Ngozi Okonjo-Iweala will lead high-level discussions on structural reforms at the seventh Africa Emerging Markets Forum in Abuja. Hosted at the apex bank’s headquarters this week, the summit brings together finance ministers, central bank governors, and development partners from across the continent. The…
Fresh monetary data from the Central Bank of Nigeria has put credit to the private sector at N83.3 trillion in June 2026, a 2.8 per cent rise from the N81 trillion recorded in May, offering the clearest sign yet that bank lending to businesses and households is recovering after a punishing first half of…
The Central Bank of Nigeria has kept its benchmark interest rate unchanged at 26.5 per cent following its latest Monetary Policy Committee meeting in Abuja. Central Bank Governor Olayemi Cardoso announced the unanimous hold decision on Tuesday after evaluating lingering domestic risks and global geopolitical market shocks. The apex bank prioritised exchange rate stability and…
Nigeria’s net foreign exchange reserves have surged to approximately forty billion dollars as ongoing monetary reforms begin to yield fruits. Central Bank Governor Olayemi Cardoso announced the milestone at the BusinessDay CEO Forum in Lagos. The dramatic recovery marks a massive rebound from the critically low three billion dollars recorded at the start of his…
The Nigerian Naira held steady against the American Dollar on Thursday, reflecting a brief moment of calm in the country’s foreign exchange market. Data from the official trading portal showed the local currency traded at an average rate of 1,376.50 Naira to one Dollar. This minor gain followed Wednesday’s closing rate of 1,383.50 Naira at…