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Naira depreciation

Naira Ends Week With N30 Gain In Black Market: Hope For Naira?

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

June 21, 2024

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

Business News·Markets·News

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

June 6, 2024

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

Naira vs Dollar: What To Expect This Week (24th-30th, March 2025)

Business News·Currency·News

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

April 20, 2024

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

Business News·Currency·News

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

March 20, 2024

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

Business News·News

Naira Depreciation Spurs Export Surge To N35trn

March 19, 2024

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

NACCIMA Boss, Oye, To Chair Vanguard Economic Summit 2025

Business News·News

Implications Of Naira Devaluation Multifaceted, NACCIMA Tells Governors

March 12, 2024

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

Naira Opens Week With Gain Across FX Markets

Business News·Currency

Naira Crisis: ‘Nigeria May Become Like Zimbabwe’

January 30, 2024

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

Business News·Currency

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

January 27, 2024

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)

Naira Appreciates, Ends Week Positive Across Official, Black Markets

Finance & Economy

How Sharp Depreciation Of Naira Spells Economic Doom For Nigeria

January 26, 2024

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

Business News·Currency

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

January 25, 2024

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

Naira Gains More As Exchange Rate Drops To N1,300/$1 At Official Market

Business News·Currency

Naira Depreciates To N902/$1 As Forex Turnover Drops 17.36% To $145.89m

January 21, 2024

Naira faced a 0.04% depreciation, closing at N902.45 to a dollar in the official market, as reported by the Nigeria Autonomous Foreign Exchange Market (NAFEM).

Naira Falls To ₦1,530/$ At Official Market After Public Holiday

Business News·Currency·News

Naira Hits Record Low Against British Pound Amid High Demand For Dollars

January 21, 2024

Nigerian parallel market exchange rate plummeted to an all-time low of N1,680 per Great Britain Pound (GBP), showcasing a 7% decline compared to the previous week.

Business News·Currency

Naira Depreciation Sparks Surge In Dollar Savings As BDC Seeks Central Bank Review

January 18, 2024

Bureau De Change operators sounded the alarm as Nigerians flock to keep their savings in US dollars amid concerns over the eroding value of the naira.

Nigeria's Inflation Rate Hits 33.88% In October Amid Fresh Fuel Price Spike

Business News

Blame Naira Depreciation For Nigeria’s Highest Inflation In 21 Years – Experts

January 16, 2024

Nigeria grapples with a daunting economic challenge as inflation hits a 28.92% in December 2023, marking the highest in 21 years, according to data from the National Bureau of Statistics.

News

Naira Gains Marginally At N1,082/$1 In Official Market

January 11, 2024

Nigeria's local currency, the naira on Wednesday, 10 January 2024, recorded a marginal gain against the US dollar as trading closed at N1082.32/$ in the official exchange window.

Business News·Currency

Naira Depreciation Deepens, Exchanges N1,089.51/$1 At Official Market 

January 10, 2024

The value of the Nigerian naira dropped on Tuesday in the official Investor and Exporter window from N856.57/$ on Monday to N1089.51/$.

Foreign Investors Capitalize On Nigeria’s Manufacturing Potential - Expert

Business News

How Naira Redesign, Forex crisis, Fuel Subsidy Removal, Others Crippled Manufacturing Growth In Nigeria

January 9, 2024

The manufacturing sector in Nigeria faced an arduous 2023 due to a culmination of challenges stemming from government policies, as highlighted by the Director-General of the Manufacturers Association of Nigeria (MAN), Segun

Nigerian Naira Vs U.S. Dollar: What To Expect This Week (17th-22nd, March 2025)

Business News·Currency·Markets·News

Cadbury, Guinness, Nestle Hit By Naira Depreciation As Report Reveals N472.3bn Loss

January 7, 2024

In a revelation by Meristem, some major consumer goods companies in Nigeria such as Cadbury, Guinness Nigeria, and Nestle, suffered a combined loss of N472.3 billion due to the depreciation of the

Business News·Currency

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Naira depreciation

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

Naira Depreciates To N902/$1 As Forex Turnover Drops 17.36% To $145.89m

Naira Hits Record Low Against British Pound Amid High Demand For Dollars

Naira Depreciation Sparks Surge In Dollar Savings As BDC Seeks Central Bank Review

Blame Naira Depreciation For Nigeria’s Highest Inflation In 21 Years – Experts

Naira Gains Marginally At N1,082/$1 In Official Market

Naira Depreciation Deepens, Exchanges N1,089.51/$1 At Official Market

How Naira Redesign, Forex crisis, Fuel Subsidy Removal, Others Crippled Manufacturing Growth In Nigeria

Cadbury, Guinness, Nestle Hit By Naira Depreciation As Report Reveals N472.3bn Loss

Nigerian Naira Depreciates To N988/$ Despite $2.25bn Injection In Forex Market

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