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Expert: How Nigeria GDP Could Hit $1.5 Trillion In 2030
According to Bismarck Rewane, foremost economist, Nigeria could attain $1.5trn Gross Domestic Product (GDP) by 2030, if it attracts both domestic and international capital to achieve a gross domestic product level. Rewane, the Chief Executive Officer of Financial Derivatives Company, said achieving this level will lead to an accelerated, sustainable and inclusive growth for the…
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CBN Introduce N5 for $1 Rebate
Nigeria’s Apex Bank has introduced a rebate of ₦5 for every $1 of funds remitted to Nigeria, through International Money Transfer Organisations in its new forex policy. The Central Bank Governor, Godwin Emefiele, who disclosed in a virtual event at its inaugural webinar on the impact of the new forex policy on diaspora investments, said…
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The Fall and Fall of the Nigerian Naira
According to the Central Bank of Nigeria (CBN), Nigeria’s currency, the Naira, fell by nearly a fifth of its value on the official exchange rate window, in the five months between March and August of this year from 305 to the U.S. dollar to 379 on August 21, for a roughly 24.3% decline. Nigeria’s currency,…