In a decisive move aimed at bolstering the Nigerian economy and stabilizing its currency, the Central Bank of Nigeria (CBN) has injected $876 million into the foreign exchange (forex) market. This latest intervention is part of the apex bank’s broader strategy to enhance market liquidity, promote transparency, and ensure that all legitimate foreign exchange demands […]

In a bid to stabilize Ethiopia’s turbulent foreign exchange market, the National Bank of Ethiopia (NBE) held a special auction to sell U.S. dollars to commercial banks. This move is part of a larger effort to close the gap between the official exchange rate and the rates in the parallel market. The auction saw the […]

In a notable display of political unity, 120 members of Nigeria’s National Assembly have come out in strong support of President Bola Tinubu’s sweeping reforms in the country’s oil and gas sector. This collective endorsement from the House of Representatives signifies a pivotal moment for Nigeria’s energy industry, as the lawmakers are urging the Nigerian […]

In recent weeks, Nigeria has been hit hard by a widespread petrol shortage that has left many motorists waiting in long queues and facing skyrocketing fuel prices. As frustrations mount, independent marketers are now calling on President Bola Tinubu to take decisive action against what they describe as unfair practices by the Nigerian National Petroleum […]