Category: Economy and Capital Markets

Parallel market: Naira appreciates to N1,350/$

The naira appreciated on Monday to N1,350 per dollar in the parallel market from N1,370 per dollar last week.   Also, the naira depreciated to N925.34 per dollar in the…

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Bureau de Change Operators Knocked for Dollar Scarcity, Naira Depreciation

Bureau De Change operators have said hoarding of the dollar is the major factor fuelling naira depreciation.   While raising an alarm due to the depreciation in the value of the…

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Inflation Climbs to 28.92%, Closes At 21-Year High — NBS

Food inflation continues to outperform general inflation. In December 2023, the food inflation rate was 33.93 per cent. Inflation has continued to rise, according to a report by the National…

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As Naira Loses 39%, Manufacturers May Embark On Mass Retrenchment

The naira has depreciated by 38.9 percent against the United States dollar at the official I&E window of the Central Bank of Nigeria in the past three months, according to…

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Report Reveals How Cadbury, Guinness Others Lost N472bn To Naira Depreciation

Some major fast-moving consumer goods companies, including Cadbury, Guinness Nigeria and Nestle lost the sum of N472.3bn to naira depreciation during the first nine months of 2023, according to a…

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Naira slumps to N1,043 at official market

The Nigerian Naira reached a new low on Thursday, closing at N1,043.09 per dollar in the official market.   The domestic currency depreciated by 16.35% to close at N1,043.09 to…

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OPEC : 2.2 million barrels per day 2024 growth expectations, key to shaping oil market

The Organisation of the Petroleum Exporting Countries said its 2.2 million barrels per day expectations for economic growth in 2024 is expected to play a defining role in shaping global…

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In-depth Investigation Reveals Alleged N22.7 Trillion ‘Ways and Means’ Scandal Involving Former CBN Governor Emefiele

An explosive report has surfaced, casting a damning shadow over the tenure of former Central Bank of Nigeria (CBN) governor, Godwin Emefiele. The special investigator appointed for the probe, Jim…

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Rise in Nigeria’s Domestic Borrowing Soars to N52 Trillion in 2023

Nigeria’s domestic debt stock surged by an astonishing 134%, soaring to a staggering N52 trillion by the end of 2023. This revelation was made by Patience Oniha, the Director-General of…

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World Bank : Over 100 million Nigerians living in poverty

An unprecedented 104 million Nigerians have slipped into poverty since the announcement of president Bola Ahmed Tinubu's economic reforms.   The World Bank's Nigeria Development Update (NDP) report, which was…

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