Business

Uncertainties Might Persist Amid High Risks To Financial Stability – IMF

Published

3 years ago

March 27, 2023

Amid the continued tension necessitated by the Russia-Ukraine war and the post-COVID-19 pandemic effect, the International Monetary Fund warned on Sunday that risks to financial stability have increased following the recent sector in the financial industry.

Speaking at the China Development Forum in Beijing, IMF Managing Director Kristalina Georgieva said she expected 2023 to be another challenging year.

Her position is based on the rate of global growth slowing to below 3.0 per cent due to the war in Ukraine, monetary tightening and scarring from the pandemic.

She also stressed the need for vigilance despite the high risks.

She said, “Uncertainties are exceptionally high, with the outlook for the global economy likely to remain weak over the medium term. It is clear that risks to financial stability have increased.”

Business

Naira Records Massive Week-on-week Depreciation Against US Dollar

Published

14 hours ago

November 23, 2025

Editor

The Nigerian Naira recorded massive week-on-week losses against the United States dollar at the official foreign exchange market.

The Central Bank of Nigeria’s exchange rate showed that the Naira dipped significantly to end the week at N1,456.73 on Friday, November 21, 2025, down from N1,442.43 traded on November 14.

This means that on a weekly basis, the Naira shed N14.06 against the dollar at the official market.

Business

Naira Appreciates Against US Dollar After Highest Dip

Published

3 days ago

November 21, 2025

Editor

The Naira bounced back, recording an appreciation against the United States dollar at the official foreign exchange market after hitting its lowest point this week.

Data from the Central Bank of Nigeria showed that the Naira strengthened to N1,452.13 on Thursday, up from N1,454.19 traded on Wednesday.

This represents a gain of N2.06 against the dollar on a day-to-day basis.

Meanwhile, in the black market, the Naira depreciated by N5 to N1,470 per dollar on Thursday, down from N1,465 recorded the previous day.

The apex bank’s data indicated that the country’s external reserves continued to rise, standing at $44.12 billion as of 19 November 2025, despite the mixed sentiments in the currency exchange market.

Recall that on Wednesday, the Naira recorded its highest depreciation against the dollar at the official FX market.

Business

Naira Records First Appreciation Against US Dollar As Foreign Reserves Hit $46.7bn

Published

5 days ago

November 19, 2025

Editor

The Naira recorded its first appreciation against the United States dollar at the official foreign exchange on Tuesday this week.

The Central Bank of Nigeria’s data showed that the Naira strengthened on Tuesday to N1,447.43 per dollar, up from N1,448.03 exchanged on Monday.

This means that the Naira gained N0.6 against the dollar on a day-to-day basis.

Meanwhile at the black market, the Naira remained unchanged at N1,465 per dollar on Tuesday, the same rate exchanged on Monday.

Checks on Nigeria’s foreign reserves showed that it has risen to $43.97 billion as of November 17th, 2025, according to the Central Bank of Nigeria’s data.

Meanwhile, the apex bank governor, Olayemi Cardoso, in an event on Tuesday, said the country’s foreign reserves rose to a seven-year high of $46.7 billion as of November 14.