Tag
NAIRA DEPRECIATION
The naira continued its downward trajectory on Tuesday, April 29, 2025, closing at N1,602.02/$1 at the official Nigerian Foreign Exchange Market (NFEM).
Arnold Dublin Green, CEO of Cordros Capital, has attributed the recent depreciation of the naira to the exit of foreign portfolio investors (FPIs) from Nigeria’s financial markets.
Nigerians imported fewer passenger cars in 2024 as rising inflation and the sharp depreciation of the naira made...
The United States economy delivered a stronger-than-expected jobs report in December, creating 256,000 jobs compared to economists’ expectations...
MTN Nigeria recorded a loss after tax of N514.9 billion for the first nine months of 2024, primarily attributed to naira depreciation, which increased foreign currency-denominated obligations.
Businesses in Nigeria say they expect the Naira to continue to depreciate in the next three months beginning from July but will begin appreciation after six months.
The Debt Management Office (DMO) has clarified that Nigeria’s fresh borrowing was N7.71 trillion in the first quarter of 2024.
Soap maker PZ Cussons says it expects its 2024 full-year profit to range between £55 and £60 million...
The naira has weakened further against the US Dollar, falling to N1,500.79/$1 on the official market on June 25, 2024.
A recent report from Agora policy has opined that the recent depreciation of the naira in May reflects the lack of efforts on the part of the Central Bank of Nigeria (CBN) at securing large forex inflows to boost supply liquidity.
The exchange rate for import duties collection by the Nigerian Customs Service (NCS) has risen to the highest just over six weeks at N1457/$ according to checks on the exchange rate portal of the NCS.
The average cost of making jollof rice across major cities in Nigeria nearly hit the N17,000 mark as of March 2024.