Morocco leads Africa with a $374 monthly minimum wage in 2026, followed by Mauritius and Algeria, as inflation continues to erode purchasing power despite wage increases across the continent.
The Nigerian naira extended its losing streak, falling against the US dollar, British pound, and euro in both official and parallel foreign exchange markets. The Central Bank of Nigeria's recent dollar purchases and interest rate cut contributed to the cu
Aliko Dangote and Abdul Samad Rabiu outperform other African billionaires with significant net worth increases, according to the Bloomberg Billionaires Index for 2026.
The Lagos Chamber of Commerce and Industry has welcomed the Central Bank of Nigeria's decision to cut the Monetary Policy Rate by 50 basis points to 26.50%. While praising the move as positive for investor confidence, the chamber cautioned that structural
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The Central Bank of Nigeria withdraws $190 million to curb the naira's rapid appreciation, causing the currency to weaken as external reserves surpass $50 billion.
President Bola Tinubu forecasts the naira could appreciate to N1,000 against the US dollar in weeks, citing CBN interventions and economic reforms at the Renewed Hope Ambassadors Summit.
The Central Bank of Nigeria has reduced its benchmark interest rate to 26.5%, marking a second cut in five months as inflation shows signs of easing, with January 2026 data at 15.10%.
Vice-President Kashim Shettima reveals that without CBN intervention, the naira could have reached N1,000 per dollar. He highlights Nigeria's economic progress and investment appeal.
Bureau De Change operators have pushed the US dollar exchange rate above N1,400 in Nigeria's parallel market following CBN's decision to absorb dollars. The naira also weakened in official trading.
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The naira weakened further against major currencies, with the official rate falling to N1,349.24 per dollar as the Central Bank of Nigeria intervened to moderate gains.
The Lagos State Government has approved a 13% fare increase for all Bus Reform Initiative schemes, including BRT and standard routes, effective March 2, 2026, citing economic pressures.
The Nigerian naira depreciated in the parallel market on Monday, with the US dollar selling at N1,375. Traders cite renewed demand and ongoing difficulties for BDC operators in accessing dollars from commercial banks.
Nigeria's non-oil exports reached a historic $6.1 billion in 2025, growing 11.5% year-on-year. Zenith Bank emerged as the leading export-friendly bank, processing 32.31% of all export documentation.
Nigeria's naira reaches a three-year high, driven by dollar hoarders selling off holdings and external reserves climbing to $48.5 billion. Central Bank reforms and strong economic fundamentals boost confidence, narrowing the gap between official and paral
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The National Bureau of Statistics reveals Nigeria's capital importation hit $17.78 billion in 2025, with Standard Chartered, Stanbic IBTC, and Citibank topping the list of banks receiving the highest inflows.
A viral video claims Nigeria will replace the naira with the Eco currency in 2027, but officials confirm the Eco's development depends on strict economic criteria, with no announcement to abolish the naira.
Nigeria's naira appreciates sharply, causing dollar hoarders to offload currency at losses. External reserves climb to $48.5 billion, boosting market confidence and narrowing the gap between official and parallel exchange rates.
The Canadian dollar has crashed below N1,000 against the naira, offering hope for cheaper visa fees and proof-of-funds requirements for Nigerians relocating to Canada. The naira's strong performance is backed by rising foreign reserves and improved market
Abuja Investments Company Limited is undergoing institutional renewal under Minister Nyesom Wike, shifting from passive asset management to active investment stewardship with major global expos.
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Former US President Donald Trump announces a temporary 10% global tariff under Section 122 of the Trade Act, lasting 150 days, following the Supreme Court's invalidation of previous emergency duties.
The US Supreme Court has ruled 6-3 that President Trump's global tariffs were unlawful, marking a rare setback for his administration. The decision affects billions in tariffs but leaves some measures intact.
Nigeria's total public debt increased to N153.29 trillion as of September 30, 2025, according to the Debt Management Office, with domestic debt at N81.81 trillion and external debt at N71.47 trillion.
Brent crude exceeds Nigeria's 2026 budget benchmark, while the naira appreciates below N1,400/$1 and external reserves hit an eight-year high, signaling economic recovery.
The Nigerian naira strengthens sharply to N1,345 per dollar in the parallel market, forcing speculators to offload dollars. The gap with the official rate narrows to just 0.29%, marking a significant convergence.
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Nigeria's currency depreciated at the official forex window, closing at ₦1,341.35 per dollar, despite external reserves rising to $48.5 billion. High demand for foreign currency and reduced central bank intervention contributed to the decline.
The Nigerian naira has surged to one of its strongest levels in nearly two years, closing at 1,347.78 per dollar in the official market, driven by improved liquidity and Central Bank interventions.
Nigeria's foreign exchange reserves have surged to $48.5 billion, reaching their highest level in nearly 13 years, providing significant support for the naira and signaling economic strength amid ongoing reforms.
A Nigerian-Canadian cybersecurity coach expresses conflicted emotions over the naira's appreciation against the Canadian dollar, highlighting impacts on exchange power and life in Nigeria.
Nigeria's debt to the World Bank's International Development Association surged to $18.7 billion, marking an 11.3% annual increase and raising concerns over fiscal sustainability and revenue management.
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Nigeria Revenue Service enforces mandatory electronic invoicing for large businesses, with MTN Nigeria as the first to comply. The system aims to enhance tax compliance and digital administration.
