Naira weakens further, hits N1,602/$1 at official market
The naira continued its downward trajectory on Tuesday, April 29, 2025, closing at N1,602.02/$1 at the official Nigerian Foreign Exchange ...
Tag: Naira depreciation
Naira depreciation linked to exit of foreign portfolio investors in Nigeria
Arnold Dublin Green, CEO of Cordros Capital, has attributed the recent depreciation of the naira to the exit of foreign ...
Nigeria’s passenger car imports drop by 14.3% in 2024 as inflation, naira depreciation weigh on demand
Nigerians imported fewer passenger cars in 2024 as rising inflation and the sharp depreciation of the naira made foreign exchange ...
Strong US job report increases risk of naira depreciation in 2025
The United States economy delivered a stronger-than-expected jobs report in December, creating 256,000 jobs compared to economists’ expectations of 160,000. ...
MTN Nigeria posts N514.9 billion loss in 9 months of 2024, blame Naira depreciation
MTN Nigeria recorded a loss after tax of N514.9 billion for the first nine months of 2024, primarily attributed to ...
Nigerian businesses expect naira to depreciate in the next three months- CBN survey
Businesses in Nigeria say they expect the Naira to continue to depreciate in the next three months beginning from July ...
Nigeria borrowed N7.71 trillion not N24.33 trillion in Q1 2024 – DMO
The Debt Management Office (DMO) has clarified that Nigeria’s fresh borrowing was N7.71 trillion in the first quarter of 2024.
PZ Cussons expects FY 2024 profit around £60 million despite 23% naira depreciation
Soap maker PZ Cussons says it expects its 2024 full-year profit to range between £55 and £60 million despite a ...
Exchange rate drops to N1,500.79/$1, lowest level since May
The naira has weakened further against the US Dollar, falling to N1,500.79/$1 on the official market on June 25, 2024.
Recent Naira depreciation reflects absence of efforts to secure large forex liquidity – Report
A recent report from Agora policy has opined that the recent depreciation of the naira in May reflects the lack ...
