Sovereign Wealth Fund grows to $2bn

Naira notes   The Sovereign Wealth Fund currently stands at $2bn, with the Nigeria Sovereign Investment Authority seeking further growth through agriculture and the addition of asset management. The government’s contribution stands at $1.5bn, with the rest, including funds owned by the institution and those managed for several government agencies, the Chief Executive Officer, NSIA, […]

CBN lifts Naira with $250m

The Naira yesterday received a major boost as the Central Bank of Nigeria (CBN) injected $250 million into various segments of the interbank foreign exchange market.  Meanwhile, the naira recorded mixed performance in parallel market and Investor and Exporters (I&E) window yesterday. While the naira remained stable at N365 per dollar at the parallel market, […]

India slashes import of Nigeria crude oil

Nigeria’s oil supply to India has hit its lowest level for this year, with the Asian country intensifying effort to diversify its sources of the commodity. India has remained the single largest buyer of Nigerian crude oil in the past few years after the United States slashed its imports from the country on the back […]