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Business

FX Spot Market Drops By 10.02% To $7.39bn Turnover In July – FMDQ Report

Spot FX market turnover was $7.39bn (N11.48trn) in July 2024, representing a 10.02 per cent ($0.67bn) Month-on Month (MoM) increase from the turnover recorded...

Business

Otedola’s Geregu Power Suffers N507m Forex Losses In Six Months

Nigeria’s biggest listed power company, Geregu Power Plc has suffered N507.2m in foreign exchange losses but the company recorded impressive earning during the period...

Business

NNPCL’s Fresh $925m Inflow Brings Rare Stability As Naira Gains N15 Against Dollar

The naira has remained firm against the dollar since the country received $925m additional inflow from ‘Project Gazelle Funding Limited’, a crude oil forward...

News

Ex-CAN President criticises Tinubu administration, calls for economic reforms

A former President of the Christian Association of Nigeria (CAN), Dr. Samson Ayokunle, has berated the administration of President Bola Tinubu, saying it took...

Business

Naira Falls 221%, Inflation Hits 33.6%- How Tinubu’s Monetary Policy Failed To Renew Hope Of Nigerians

Muhammed, a civil servant at the Ministry of Agriculture almost lost his temper after buying 25 pieces of pepper for N1000 after the sellers...

Business

Business operations In Nigeria, SSA hampered by import restrictions, FX shortages – IMF

By: Babajide OkeowoBusiness operations in Nigeria and other Sub-Saharan African (SSA) countries have been hampered by import restrictions and foreign exchange shortages, the International...

Business

After N392.6bn Net Loss Induced By High-Interest Rate, Naira Crisis, MTN Push For Tariff Hike

Nigeria’s biggest telecoms provider, MTN Nigeria Plc is battling with the country’s harsh operating environment which has dragged it to a N392.6bn loss after...

Business

Massive Job Loses Looms As Nigerian Breweries Shutdown Two Factories

Workers of Nigerian Breweries Plc are set to lose their jobs as the brewer is shutting down two of its nine factories in Nigeria...

Business

CBN clears valid FX transactions backlog

The Central Bank of Nigeria (CBN) has announced that all valid foreign exchange backlogs of $7 billion have now been settled3,The Central Bank of...

Business

Dangote Feels Heat Of Economic Crisis As Net Worth Drops By N1.88tn

Africa’s richest man and Chairman of Dangote Group, Aliko Dangote is feeling the heat of Nigeria’s economic crisis with his net worth shedding $1.1bn...

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