A recent World Bank report has unveiled a concerning surge in Nigeria’s poverty levels, attributing the rise to the nation’s recent economic and fiscal reforms. These...
Amid the legislative process for the 2024 federal budget, Nigeria encounters a formidable challenge as the price of Bonny Light drops to $76.53 per barrel,...
Bank customers faced heightened frustration yesterday as Naira scarcity persisted, leading more banks to ration cash withdrawals. In response to the crisis, Point of Sale Operators...
The Nigerian manufacturing sector faces a significant setback as it contends with a staggering 400% surge in net foreign exchange losses, totaling N466 billion in the...
In a recent report by the Centre for Promotion of Private Enterprise (CPPE), concerns are raised over the looming threat of factory shutdowns and a decline...
The Nigerian naira plummeted to an unprecedented low of N1,099.05 against the US dollar in the official Investor and Exporter forex window on Friday. This marks...
In response to the prevailing foreign exchange crisis, the Central Bank of Nigeria (CBN) has adjusted the timeline for issuing letters of credit, extending it from...
The Nigerian naira experienced a depreciation in the parallel market, falling to N1,200 per dollar from N1,172 on Wednesday. However, contrasting this trend, the Nigerian Foreign...
In a significant blow to Nigeria’s economic landscape, Procter & Gamble (P&G) and Equinor, two major multinational corporations, have announced their exit from on-ground operations in...
The Nigerian Naira faced a decline against the US Dollar at the official foreign exchange market. Official data from FMDQ revealed that the Naira depreciated to...