Central Bank to reintroduce auctions (rDas) to address forex shortage

The Central Bank of Nigeria (CBN) has unveiled plans to implement a Retail Dutch Auction System (DAS) to address the mounting unmet foreign exchange (FX) demand from end users.  According to a circular seen by Nairametrics, this initiative, scheduled for next Wednesday, aims to alleviate the growing pressure in the FX market and stabilize the […] More

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ECOWAS commences distribution of N1.4 billion aid to 3,500 Nigerian households

The Economic Community of West African States (ECOWAS) has commenced the distribution of its $906,205 (N1,449,928,000) aid to Nigerian communities affected by the devastating floods of 2022.  This was disclosed by ECOWAS in a statement published on its website on Friday, August 2, 2024.  Flagged off in Adamawa State, ECOWAS believes its aid and relief […] More

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