IMF Upgrades African GDP Estimates by $99.4 Billion Amid Global Oil Volatility
African economies secured a net $99.44 billion upward revision to their combined gross domestic product between April and October, driven by commodity export gains.
Category: Money
Dangote Refinery IPO Tipped to Quadruple Nigerian Investors
Aliko Dangote’s anticipated $1.6 billion public offering for his oil refinery is expected to significantly expand Nigeria’s active investor population by up to five times, according to the Nigerian Exchange Group CEO.
Naira Tumbles to N1,365/$, Records Sharpest Daily Drop in 18 Months
The Nigerian Naira recorded its steepest single-day decline in 18 months, depreciating to N1,365 per US dollar in the official market. This sharp movement signals renewed pressure on the nation’s currency.
OneDosh Launches Cash App Integration for Nigeria Remittances
OneDosh has introduced new remittance options for Nigerians abroad, enabling seamless money transfers from the US, UK, and EU, including direct Cash App integration to Naira accounts.
CBN Cuts MPR to 23% in Major Policy Shift
Nigeria’s Central Bank has reduced its benchmark interest rate, the Monetary Policy Rate (MPR), from 26.5% to 23%. This significant adjustment signals a potential shift in the nation’s monetary policy direction.