Nestle, others cost equity market 51bn loss
The loss experienced by Nestle Plc, Eterna, and Fidson Healthcare Plc caused the Nigerian Exchange to lose N51 billion in the new…
Economy
Factories may shutdown if FX crises persists – MAN
By Melvin Onwubuke The Manufacturers Association of Nigeria has said that many factories may shutdown operations amidst the lingering foreign exchange crises.…
Naira depreciates to N2100/£1 in black market
By Alex Omenye The naira witnessed a significant decrease, peaking at N2100 per Great British Pound in the parallel market, commonly…
Economic hardship: Senator advises Tinubu to hold national stakeholders meeting
A lawmaker from Osun Central, Senator Ajagunnla Olubiyi Fadeyi, has advised President Bola Tinubu to call an urgent national stakeholders engagement forum…
Nigeria’s GDP grows 3.46% in Q4, decreases by 2.74% in 2023
Nigeria’s Gross Domestic Product grew at 2.74% annually in 2023, a modest slowdown from the 3.10% growth rate attained in 2022. According…
Nigeria’s money supply hits N93.72trn in January 2024
Nigeria’s broad money supply reached a historic high of N93.72 trillion in January 2024, marking an impressive ascent. This figure represents a…
Naira decline continues in parallel market, N1,700/$1
By Melvin Onwubuke Nigeria Naira strengthened against the dollar in the official market, as there was a significant rise of 76.61%…
Flow Financial launches in Africa, begins hiring in Nigeria
Floww Financial today announced its successful debut into the African cryptocurrency sector with the commencement of its Nigeria operations. According to Nairametrics,…
South Africa’s richest man Johann Rupert gains $2.2bn one month
South Africa’s wealthiest man, Johann Rupert, has witnessed a significant surge in his net worth, with a gain of $2.2 billion in…
CBN slashes import duty exchange rate to N1,472/$
The Central Bank of Nigeria has revised the exchange rate utilized by the Nigeria Customs Service for calculating import duty at the…
CBN halts cash payment for travel allowance fees
The Central Bank of Nigeria has announced that Personal and Basic Travel Allowances would only be paid electronically, not in cash, as…
Naira crashes further against dollar, sells N1,582/$1
The intra-day high for the Nigerian naira against the US dollar peaked at N1,582 on Wednesday, coinciding with a notable 56.58% decrease…