Echotitbits – Nigeria News

Tag: Naira

  • CBN Data Shows Drop in Diaspora Remittance Inflows via IMTOs

    CBN Data Shows Drop in Diaspora Remittance Inflows via IMTOs

    Photo Credit: The Punch
    2025-12-26 06:20:00

    In an update published by *PUNCH*, Central Bank of Nigeria (CBN) data shows inflows through International Money Transfer Operators (IMTOs) declined, underlining how fragile FX supply remains even after reforms aimed at improving official-market pricing.

    The report points to pressures that can affect remittances—global cost-of-living stress, immigration policy shifts in key sending countries, and the growing use of informal channels that bypass official reporting.

    For Nigeria’s FX market, reduced IMTO inflows can tighten liquidity, complicate supply management, and intensify demand pressure—especially for households and SMEs that rely on remittances for consumption and working capital.

    Analysts will likely watch whether the trend persists into subsequent quarters, and whether policy signals further encourage formal remittance routing.

    *Nairametrics* wrote that “inflows fell to $888.39 million in Q1 2025, compared to $1.08 billion” in the same period of 2024, while *Proshare* stated inflows “declined by -6% quarter-on-quarter (QoQ) to US$888m in Q1 2025.”

    Echotitbits take: Remittances are a lifeline—but they’re also a policy barometer. If official inflows keep sliding, Nigeria may need stronger incentives for formal channels (pricing, speed, trust) and tighter scrutiny of leakages to informal pipelines.

    Source: The Punch — Dec 26, 2025 (https://punchng.com/cbn-reports-276m-drop-in-imtos-inflows/)

    Photo credit/source: The Punch
    The Punch 2025-12-26

  • PZ Cussons rebounds into profit as half-year results show a turnaround

    PZ Cussons rebounds into profit as half-year results show a turnaround

    Photo Credit: The Punch

    2025-12-24 07:11:00

    Reporting by PUNCH indicates PZ Cussons Nigeria returned to a strong profit position in its half-year results, reversing prior weakness and pointing to better pricing, improved margins, and tighter cost control.

    The interim numbers showed a notable lift in profitability, suggesting management is gaining traction on operational efficiency despite Nigeria’s tough consumer environment.

    If the trend holds, investors will watch for whether the profit is driven by sustainable volume recovery or largely by pricing and currency-linked effects—especially as purchasing power remains under strain.

    MarketScreener’s data summary of the filing notes: “For the six months, sales was NGN 127,902.6 million… Net income was NGN 21,428.3 million.” In the company’s NGX interim highlights, it lists: “Basic and diluted earnings per share (Naira) 5.17.”

    Echotitbits take: This is a snapshot of how consumer-goods firms are navigating inflation and FX pressures—reprice, optimize, and protect margins. Watch next for evidence of volume growth, not just margin expansion.

    Source: The Punch — December 24, 2025 (https://punchng.com/pz-posts-n21-4bn-half-year-profit/)

    The Punch 2025-12-24

  • Nigeria’s Capital Importation Drops to $1.13bn in August as Portfolio Inflows Cool

    Nigeria’s Capital Importation Drops to $1.13bn in August as Portfolio Inflows Cool

    Photo Credit: Vanguard
    2025-12-23

    A new update from Vanguard says Nigeria’s capital importation fell 62% month-on-month to $1.13 billion in August 2025 from $2.98 billion in July.

    The update indicated foreign direct investment improved from the prior month, while portfolio flows softened, suggesting more cautious foreign appetite.

    For policymakers, the signal is mixed: better FDI optics, but shrinking total inflows that can pressure FX liquidity and sentiment.

    New Telegraph reported: “Consequently, overall capital importation decreased to $1.13 billion, from $2.98 billion in the preceding month.” Vanguard similarly stated: “Nigeria’s capital importation… fell… to $1.13 billion…”.

    Echotitbits take: This is where FX stability meets credibility. Watch Q4 data for whether longer-term inflows start replacing hot money—and whether policy consistency improves investor comfort.

    Source: Vanguard — December 23, 2025 (https://www.vanguardngr.com/2025/12/capital-importation-declines-62-to-1-13-bn/)
    Vanguard 2025-12-23

  • CBN’s BDC approvals deliver ₦192m in licensing fees as FX clean-up continues

    CBN’s BDC approvals deliver ₦192m in licensing fees as FX clean-up continues

    Photo credit: The Guardian Nigeria News — CBN HQ Abuja:

    2025-12-20 12:25:00

    Reporting by Punch indicates the Central Bank of Nigeria has collected ₦192 million in licensing-related fees after issuing final approvals to 82 bureau de change operators.

    The approvals sit within the CBN’s broader attempt to formalise retail FX activity, reduce leakages and improve traceability in foreign-exchange transactions.

    Beyond the revenue, the regulatory signal is the big story: tighter licensing and supervision could reshape the BDC landscape by pushing informal operators out and strengthening compliance expectations for approved players.

    For consumers, the outcome to watch is whether a more regulated ecosystem improves transparency and pricing—or simply shifts activity into other channels if supply remains constrained.

    Reuters reported the same final-licence milestone, describing approvals for “82 BDCs” and linking it to efforts to curb street trading.

    CBN guidance on BDC licensing also details fee requirements, including a “non-refundable final licence fee,” consistent with a structured licensing process.

    Echotitbits take: The real test is enforcement. If street trading remains unchecked, licensing reforms won’t translate into stability. Also watch how banks and fintechs integrate retail FX flows as regulators tighten the market structure.

    Source: The Guardian Nigeria News — December 20, 2025 https://guardian.ng/featured/cbn-issues-82-new-bdc-licences-moves-to-curb-unregistered-fx-operators/

  • FAAC shares ₦2.094trn to FG, states and LGAs from October revenue

    FAAC shares ₦2.094trn to FG, states and LGAs from October revenue

    PunchNG (illustrative image)
    2025-11-01

    From a Federal Ministry of Finance update, FAAC shared ₦2.094 trillion as federation allocation for October 2025, drawn from a gross total of ₦2.934 trillion.

    Monthly FAAC inflows shape state liquidity, wage payments, and capital spending, while also reflecting swings in oil receipts, VAT and other revenue lines.

    The breakdown highlights why fiscal planning remains sensitive to revenue volatility.

    Vanguard: “distributed a total of N2.094 trillion…”

    TheCable: “shared… N2.09 trillion for October.”

    Analysis/Echotitbits take: Volatility remains the headline risk. Watch how non-oil reforms affect VAT and statutory inflows, and whether states publish clearer spending outcomes tied to FAAC receipts.

    Source: Federal Ministry of Finance (Nigeria) — November 01, 2025 (https://finance.gov.ng/fg-states-lgcs-share-n2-094-trillion-from-a-gross-total-of-n2-934-trillion-for-the-month-of-october-2025/)

  • Senate tells FIRS to raise 2026 revenue target to ₦35trn, slams “multiple budgets”

    Senate tells FIRS to raise 2026 revenue target to ₦35trn, slams “multiple budgets”

    Photo credit: PunchNG (image on article page)
    2025-12-15

    According to The Punch, the Senate Committee on Finance criticised the Federal Government’s habit of running multiple budgets within a single fiscal year, warning it weakens fiscal discipline and planning.

    The report says the committee directed the Federal Inland Revenue Service (FIRS) to lift its 2026 revenue projection from ₦31tn to ₦35tn during discussions around the 2026–2028 MTEF/FSP.

    It also referenced a claimed revenue gap in the 2025 budget cycle, fueling arguments that rollovers and repeated revisions are becoming systemic.

    BusinessDay: “at least ₦35 trillion in revenue in 2026.”

    TheCable: “raise the 2026 target to N35 trillion from N31 trillion.”

    Analysis/Echotitbits take: This looks like early pressure-setting for 2026 budget negotiations. Watch whether FIRS follows with compliance tech, base-broadening, and enforcement—rather than new rate hikes—and whether the Executive adopts the higher benchmark.

    Source: The Punch — December 15, 2025 (https://punchng.com/senate-kicks-against-multiple-budgets-orders-firs-to-deliver-n35tn-revenue/)

  • Car imports climb back above ₦1tn as FX stability returns

    Car imports climb back above ₦1tn as FX stability returns

    2025-12-15 00:30:00

    According to The Punch, Nigeria’s passenger vehicle imports rose to about ₦1.01 trillion in the first nine months of 2025, with the strongest rebound coming in Q3 as FX conditions steadied.

    The report, citing National Bureau of Statistics foreign trade data, notes that the first half of the year was softer, but the July–September quarter more than offset earlier declines.

    Analysts quoted linked the swing to improved FX liquidity and a narrower trading band for the naira, which helped importers plan and price inventory more predictably.

    Analysis/Echotitbits take: Vehicle import volumes are a useful “thermometer” for FX confidence and consumer demand. Watch Q4 numbers for whether FX stability holds, and whether duty/valuation changes keep landing costs from spiking again.

    Source: The Punch — December 15, 2025 — https://punchng.com/car-imports-rebound-hit-n1tn-in-nine-months/

    Photo credit: The Punch

    The Punch https://punchng.com/car-imports-rebound-hit-n1tn-in-nine-months/ December 15, 2025

  • Dangote Refinery IPO to Pay Dollar-Denominated Dividends

    Dangote Refinery IPO to Pay Dollar-Denominated Dividends

    Photo Credit:Punch Newspapers

    Aliko Dangote has disclosed that the planned initial public offering of the Dangote Refinery will feature dollar‑denominated dividends to attract global investors. He said the structure is designed to hedge against naira volatility and position the refinery as a world‑class asset in international capital markets.

    The IPO is expected to deepen liquidity on the Nigerian Exchange and provide new investment options for domestic and diaspora investors. Market watchers say the listing could become one of the largest in Africa, offering exposure to downstream petroleum revenues and non‑oil export earnings.

    Source: Punch Newspapers – 11 Dec 2025

    2025-12-12 10:00:00 Punch Newspapers – 11 Dec 2025 2025-12-11

  • Naira Slides Further on the Street as Gap Widens With Official Window

    The naira weakened further in the parallel market while holding a different rate at the official NFEM window, widening the spread between both markets. The movement reflects ongoing demand-supply tension in the FX ecosystem.

    Analysts warn that persistent gaps can fuel speculative pricing and complicate planning for import-dependent sectors.

    2025-12-10

    Vanguard

    2025-12-10

  • For the first time, CBN sells pound above N500

    For the first time, CBN sells pound above N500

    The Central Bank of Nigeria (CBN) for the first time last week sold the pound above N500, as naira continues to battle major headwinds.

    On Wednesday, the nation’s apex bank sold a pound for N501.98 and quoted N500.659 as its buying rate.

    At the parallel market, the currency is going for as much as N600. With the official rate hitting and surpassing N500 before the naira gained a momentary respite on Thursday, a new yardstick may have been set at the foreign exchange market.

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    Since the beginning of the year, the naira has faced daunting challenges. The apex bank’s plan to converge the rates has faced serious scrutiny.

    While speaking during a talk show on Nigeria Info radio in Lagos, The Managing Director of Financial Derivatives Company and a member of President Muhammadu Buhari’s Economic Advisory Council, Bismarck Rewane, said unification is a tough policy option the Central Bank would need to make, Echotitbits gathered.