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![Today's Naira Rate [31-01-2025]: CBN Interventions Boost Naira as Exchange Rate Improves to N1,493/$](/data/attachments/212/212954-58e780ec025feefde8bfa331a3d70815.jpg?hash=PERHMQHP25)
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During the Stanbic IBTC Energy and Infrastructure Breakfast Session in Lagos, Gabriel Ogbechie, CEO of Rainoil Limited, disclosed that the federal government has covertly resumed paying the contentious fuel subsidy.
Ogbechie highlighted the impact of the Naira's devaluation on the foreign...
Nigeria
Naira Rate: Bloomberg Africa Report On Nigeria's Depleting FX Reserves Points to Tougher Ride Ahead
Nigeria's foreign exchange reserves are dwindling at a rapid pace, sparking concerns over the Central Bank's strategy to prop up the naira amidst promises of a more flexible exchange rate.
In a span of just under a month, from March 18 to April 12, liquid reserves plummeted by 5.6%, plummeting...
The Nigerian Civil Aviation Authority (NCAA) has taken decisive action against three private jet operators for their involvement in commercial flights. The suspension of their permits comes in response to heightened scrutiny and warnings from the Minister of Aviation and Aerospace, Festus...
Minister of Finance, Wale Edun, expressed profound concern over the populace's diminishing trust in the nation's currency, the Naira. Edun's remarks, delivered at a recent event in Lagos, underscored a troubling trend where Nigerians are increasingly opting to save in more stable foreign...
In a recent announcement, Elon Musk, CEO of X, confirmed a significant change in the platform's policy.
Henceforth, all new users will be required to pay a "small fee" before gaining access to basic features such as posting, liking, or bookmarking content.
This decision marks a notable shift...
![Today's Naira Rate [15-04-2024]: Nigerians Await Economic Relief as Naira Nears 1,000/$](/data/attachments/202/202858-6e202405f2f497d63440ce71bc64dc98.jpg?hash=biAkBfL0l9)
Nigeria's currency, the Naira, is poised on the brink of a significant milestone, edging closer to the 1,000 Naira to 1 US dollar mark on the black market, as it surged to N1,115 on Monday, with some traders quoting rates as high as N1,118 and N1,120.
This surge follows a four-month high of...
Nigeria's headline inflation rate surged to an all-time high of 33.2% in March, marking the 15th consecutive monthly increase, despite recent improvements in the value of the national currency, the naira. T
The latest Consumer Price Index report by the National Bureau of Statistics revealed...
Nigeria
Nigerians Applaud as Dangote Petroleum Refinery in Lekki Starts Diesel Rollout via Land Transport
Nigerians are applauding Dangote Petroleum Refinery in Lekki for its diesel rollout, a significant milestone achieved through land transport. This development marks a crucial step forward in the refinery's operations, promising increased efficiency and accessibility of diesel fuel to meet the...
![Today's Naira Rate [13-04-2024]: Nigerians Question When Prices of Goods Will Drop as Naira Hits N1,070 to $1](/data/attachments/202/202782-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria
Today's Naira Rate [13-04-2024]: Nigerians Question When Prices of Goods Will Drop as Naira Hits N1,070 to $1
As the Nigerian Naira reached a staggering N1,070 to $1, many citizens took to social media to express their concerns about the increasing exchange rate and its impact on the cost of living.
Despite the significant devaluation of the currency, there has been no noticeable decrease in the prices...
Nigerian Breweries Plc, one of Nigeria's leading beverage companies, has unveiled plans for a company-wide reorganization, which will involve the temporary closure of two out of its nine breweries across the country.
The decision comes as part of the company's business recovery plan aimed at...
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