Naira depreciation

Cash Scarcity: Nigerians Express Concerns Over Financial Struggles This Festive Season

Naira Depreciation, Borrowings Drive Nigeria’s Debt To N121.67trn

Nigeria’s public debt has reached an alarming N121.67 trillion, increasing by N24.33 trillion or 24.99 per cent within just three months, according to the Debt Management Office (DMO). This rise, largely driven

Emmanuel Ochayi

6 months ago

How EFEMS Transparency Fuels Naira Demand In Parallel Market

Business·Latest News·Markets

Naira Hits Lowest Level Of N1,488/$1 In 3 Weeks Amid Volatile FX Market

The naira depreciated to its lowest level in three weeks on the official market on Wednesday, June 5, 2024. Closing at N1,488.60/$1, the naira experienced a 0.78% drop from the previous day

Emmanuel Ochayi

7 months ago

CBN’s FX Market Intervention Falls Short As Naira Struggles To Gain Ground

Business·Currency·Latest News

Naira Ends Week With 9% Depreciation, Exchanges N1,169/$1 At Official Market

The Nigerian currency, the Naira, ended the week with a 9.1 per cent depreciation at the official segment of the foreign exchange market.

Victor Ezeja

8 months ago

Business·Currency·Latest News

Naira Depreciation Deals Heavy Blow As Dangote, Nestle Nigeria, MTNN, Others Lose N1.7trn

Major players in Nigeria’s corporate landscape, including Dangote Group, Nestle Nigeria, and MTN Nigeria, among others, faced a loss of N1.7 trillion due to naira depreciation in 2023. This loss was revealed

Emmanuel Ochayi

9 months ago

Business·Latest News

Naira Depreciation Spurs Export Surge To N35trn

Nigeria’s import figures witnessed a notable surge in 2023 due to naira depreciation, climbing from N25.5 trillion in 2022 to N35.9 trillion. Data from the National Bureau of Statistics revealed a steady

Emmanuel Ochayi

9 months ago

Business·Latest News

Implications Of Naira Devaluation Multifaceted, NACCIMA Tells Governors

NACCIMA president, Dele Kelvin Oye, has said that while the immediate effect of the devaluation of the naira on exports may be positive, the broader implications of a persistent devaluation are multifaceted

Admin

10 months ago

Business·Currency

Naira Crisis: ‘Nigeria May Become Like Zimbabwe’

Stakeholders and economic experts have continued to express concerns about the persistent depreciation of the value of Nigerian currency, the naira.

Victor Ezeja

11 months ago

Business·Currency

Naira Drops To N900/$1 In Official Market Despite CBN Efforts, Raises Concerns For Economic Stability

The Nigerian naira has plunged to a historic low of N900 against the US dollar in the official market, marking a setback despite relentless efforts by the Central Bank of Nigeria (CBN)

Emmanuel Ochayi

11 months ago

What Naira's Continuous Depreciation Means For Nigerians This Festive Season

Finance & Economy

How Sharp Depreciation Of Naira Spells Economic Doom For Nigeria

Over the last two decades, Nigeria, the giant of Africa, has confronted a number of economic challenges. Our excessive reliance on imported

Admin

11 months ago

Business·Currency

Danger Looms As Naira Depreciates To N1,410/$1 At Black Market Amid High Demand, Economic Challenges

In a turn of events, the Nigerian Naira witnessed a depreciation, hitting a historic low of N1,410 against the US dollar on Thursday. This 3.29% decline, amounting to N45 weaker than the

Emmanuel Ochayi

11 months ago

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Naira Depreciation, Borrowings Drive Nigeria’s Debt To N121.67trn

Naira Hits Lowest Level Of N1,488/$1 In 3 Weeks Amid Volatile FX Market

Naira Ends Week With 9% Depreciation, Exchanges N1,169/$1 At Official Market

Naira Depreciation Deals Heavy Blow As Dangote, Nestle Nigeria, MTNN, Others Lose N1.7trn

Naira Depreciation Spurs Export Surge To N35trn

Implications Of Naira Devaluation Multifaceted, NACCIMA Tells Governors

Naira Crisis: ‘Nigeria May Become Like Zimbabwe’

Naira Drops To N900/$1 In Official Market Despite CBN Efforts, Raises Concerns For Economic Stability

How Sharp Depreciation Of Naira Spells Economic Doom For Nigeria

Danger Looms As Naira Depreciates To N1,410/$1 At Black Market Amid High Demand, Economic Challenges

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