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Forex Crisis Crashes Nigeria’s Foreign Trade Payments By 57%
Manage episode 437697456 series 2908425
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The Central Bank of Nigeria revealed that Nigeria’s Letter of Credit payments dropped by 57 per cent in the first seven months of 2024. The CBN’s weekly International Payments Data shows that the country’s Letter of Credit payments dropped to $391.91m from $912.35m within the same period in 2023. An analysis of the CBN data showed that the highest LC payments this year were recorded in February at $102.59m, followed by July at $79.65m and $58.33m in January. In March, LCs payments stood at $43.53m compared to $269m in the same month in 2023, rose to $54.02m in April 2024 and dropped to $21.48m in May before rising to $32.26m in June.
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Manage episode 437697456 series 2908425
Content provided by Africa Business Radio. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Africa Business Radio or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
The Central Bank of Nigeria revealed that Nigeria’s Letter of Credit payments dropped by 57 per cent in the first seven months of 2024. The CBN’s weekly International Payments Data shows that the country’s Letter of Credit payments dropped to $391.91m from $912.35m within the same period in 2023. An analysis of the CBN data showed that the highest LC payments this year were recorded in February at $102.59m, followed by July at $79.65m and $58.33m in January. In March, LCs payments stood at $43.53m compared to $269m in the same month in 2023, rose to $54.02m in April 2024 and dropped to $21.48m in May before rising to $32.26m in June.
Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.
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Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.
1000 episodes
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Weekly wrap of events of the week peppered with context, commentary and opinion by a superstar panel. Click here to support Newslaundry: http://bit.ly/paytokeepnewsfree Hosted on Acast. See acast.com/privacy for more information.
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continue reading
Our weekly podcast from Politics Home discussing all the ups and downs in Westminster. Please subscribe and share - and keep up with all the latest news on PoliticsHome.com. Got a question for the team? news@politicshome.com.
…
continue reading
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…
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In August of 1619, a ship carrying more than 20 enslaved Africans arrived in the English colony of Virginia. America was not yet America, but this was the moment it began. No aspect of the country that would be formed here has been untouched by the 250 years of slavery that followed. On the 400th anniversary of this fateful moment, it is time to tell the story. “1619” is a New York Times audio series hosted by Nikole Hannah-Jones. You can find more information about it at nytimes.com/1619pod ...
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