naira crisis
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Nigeria Naira Crisis: 10 Possible Reasons Why Goldman Sachs Is Upbeat About the Nigerian Currency
Due to Nigeria's prolonged economic challenges, the Naira has faced significant pressure, stirring concerns and debates among investors, policymakers, and the general public. Amid this backdrop of uncertainty, Goldman Sachs's upbeat prediction for the Naira in 2024 comes as a beacon of optimism... -
Nigeria Binance Nigeria Wahala: Government Demand Details of Top 100 Users from Detained Executives
The Nigerian government, led by influential figure Bola Tinubu, has insisted that Binance, the world's largest cryptocurrency platform, disclose the identities and transaction details of its top 100 Nigerian users. This demand, according to reports by the Financial Times, is at the epicenter of... -
Nigeria Naira Crisis: Nigeria Has No Financial Discipline - Otti
Governor Alex Otti of Abia State has attributed the continuous depreciation of the naira to the excessive printing of money by the Federal Government, estimating the total printed money to be close to N30 trillion. In an interview on Channels Television's Politics Today, Otti expressed concern... -
Nigeria Naira Crisis: MTN Nigeria Records N740 Billion Forex Loss, Shareholder Funds Wiped Out
MTN Nigeria Plc has reported a staggering loss before tax of N177.8 billion, leading to the complete wipe-out of shareholders' funds. The telecom giant attributes this unprecedented loss to a massive foreign currency loss of N740 billion, citing operational changes in the Nigerian foreign... -
Nigeria Naira Crisis: CBN Board Nominee Declines Offer, Citing Ongoing Engagements
Mr. Urum Kalu Eke, one of the nominees for the Central Bank of Nigeria (CBN) Board, has declined the prestigious appointment. President Bola Tinubu had submitted Kalu Eke's name and four others for Senate confirmation. However, Eke chose to skip the Senate Committee's screening process... -
Nigeria Naira Crisis: CBN Set to limit Cash FX Transaction to $500
The Central Bank of Nigeria (CBN) is contemplating significant regulatory changes for Bureau De Change (BDC) operators, including a potential ban on street trading and restricting cash payments for foreign exchange (FX) sales to a maximum of $500. The proposed guidelines also require sellers... -
Nigeria Naira Crisis: CBN target BDCs With N2 billion Licence Fee
Amidst a deepening forex crisis pushing the naira to a historic low of N2,000 against the dollar, the Central Bank of Nigeria (CBN) has implemented robust measures against Bureau De Change (BDC) operators. In response to the economic downturn, the National Security Adviser, Mallam Nuhu Ribadu... -
![[VIDEO] EFCC Operatives Clash at Abuja Zone 4 Market in Desperate Bid to Save Plummeting Naira](/data/attachments/201/201140-b0a564a500643e19f71f62c24dbccfa6.jpg)
Nigeria [VIDEO] EFCC Operatives Clash at Abuja Zone 4 Market in Desperate Bid to Save Plummeting Naira
In a shocking turn of events, the Economic and Financial Crimes Commission (EFCC) launched a raid at Abuja's Zone 4 market, targeting Bureau De Change (BDC) operators as the Nigerian Naira faces a rapid decline to N1,700 against the dollar. Clad in their red vests, EFCC operatives used firearms... -
Nigeria Lawmakers Demand Answers as CBN Governor is Summoned Over Alarming Naira Decline
In a bid to address growing concerns over the state of the economy and the alarming free fall of the naira in the forex market, the Senate's Committee on Banking, Insurance, and other Financial Institutions has taken a decisive step by summoning the Governor of the Central Bank of Nigeria...
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