According to Moody’s Investors Services, the depreciation in Naira will put a strain on the assets of Nigerian banks struggling to raise asset.
Nigeria's one-year currency forward posted its biggest drop in more than a decade yesterday as the ASI Index fell to an eight-year low.
Governor, Godwin Emefiele clarifies the supposed devaluation of Naira. Says it is an adjustment of price and not a devaluation of the currency.
The central bank of Nigeria has devalued its official exchange rate from N307/$1 to N360/$1.
Africa’s biggest economy is again reacting to this crisis the same way it did in the past as she failed to stop its currency from devaluing
Association of Bureau De Change Operators of Nigeria has given assurances to the public of continued sale of dollars at the official price
The Central Bank of Nigeria (CBN) has reportedly devalued the Naira. Nairametrics found from a reliable source that the CBN moved the rate of foreign exchange to Foreign Portfolio Investors (FPIs) from N366.70 to N380.20/USD.
The Nigerian Senate has expressed its willingness to consider the removal of subsidy on petrol and devaluation of the Naira.
Association of Bureau De Change of Nigeria (ABCON) has argued that it is uncalled for to ask the Central Bank of Nigeria to devalue the naira.
Financial experts and analysts say structural imbalances like revenue shortfall, development in the global oil market and CBN policies among others pose very bleak outlook for the economy.
Nigeria's alarming current account deficit is a possible bellwether for a devaluation if it persists.
Whilst this is bad news on a global scale, Nigerian may inadvertently stand to benefit from it, albeit in the short term.
