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Featured: Latest Nigerian News
naira depreciation
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Nigeria Trump Tariff Crisis: Nigeria Struggles with Economic Fallout
Nigeria's economy faces rising risks from Trump’s tariffs and global economic downturns, with oil price drops and stock market slumps exacerbating the situation. Experts recommend diversification, strategic trade agreements, and policy adjustments to mitigate the damage to the naira and national...- Nigeria News
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- 2 min read
- global economic downturn naira depreciation nigeria economy nigerian trade relations trump tariffs
- Category: Business
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![Today's Naira Rate [04-04-2025]: Naira Hits New Low, Official Exchange Rate Plummets to N1,600 per Dollar](/data/attachments/215/215127-da621b1781c7fb8e0597b4f7c3e7f9c2.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate [04-04-2025]: Naira Hits New Low, Official Exchange Rate Plummets to N1,600 per Dollar
The Naira has depreciated to N1,600 per dollar in the Nigerian Foreign Exchange Market, marking a N31 drop from the previous day. The widening gap between official and parallel market rates has raised concerns about inflation, foreign exchange reserves, and the broader Nigerian economy, with...- Nigeria News
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- 1 min read
- central bank of nigeria foreign exchange market naira depreciation nigerian economy official exchange rate
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![Today's Naira Rate [03-04-2025]: Trump’s Tariff War Triggers Naira’s Sharp Drop to N1,552.53 Against Dollar](/data/attachments/215/215101-f3c498ec2bc99b1f97c09b2d6676042c.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate [03-04-2025]: Trump’s Tariff War Triggers Naira’s Sharp Drop to N1,552.53 Against Dollar
The Nigerian naira recorded its largest depreciation this week, falling to N1,552.53 per dollar in the official market, largely due to U.S. President Trump’s tariff announcements. Despite a strong foreign exchange reserve, the new tariffs have sent shockwaves through Nigeria’s economy, weakening...- Nigeria News
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- foreign exchange naira depreciation naira to dollar rate nigerian currency trump tariff war
- Category: Business
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Nigeria AGN President Emeka Rollas’ Cryptic Instagram Post Causes Alarm
AGN President Emeka Rollas has sparked concern after posting a cryptic message on Instagram, stating, “By this time tomorrow, it will all end.” Fans and colleagues expressed worry, urging him to clarify his statement. The post has fueled discussions about his well-being and potential struggles...- Nigeria News
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- generational debt leo dasilva naira depreciation nigerian economy tinubu administration
- Category: Entertainment
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Nigeria PZ Cussons Faces Setback as Shareholders Reject Debt-to-Equity Proposal
PZ Cussons Nigeria (PCZN) failed to secure the 75% shareholder approval needed to convert a ₦51.79 billion intercompany loan into equity. Despite strong minority shareholder backing, key dissenting votes blocked the deal. The company remains focused on alternative restructuring to address...- Nigeria News
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- debt-to-equity conversion naira depreciation pz cussons nigeria shareholder vote
- Category: Business
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Nigeria Chatham House Urges Nigeria to Keep Naira Depreciated for Economic Competitiveness
Chatham House warns Nigeria against strengthening the naira, urging that its depreciation has made the country more competitive. The think tank highlights positive economic impacts, such as improved balance of payments and increased reserves, while recommending alternative measures to control...- Nigeria News
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- chatham house inflation control naira depreciation nigeria economy
- Category: Business
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![Today's Naira Rate [12-02-2025]: Naira Falls to N1,570/$1 as Forex Shortage Persists](/data/attachments/213/213389-e4a2172565e06538ffb086f5ae94c27a.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate [12-02-2025]: Naira Falls to N1,570/$1 as Forex Shortage Persists
The naira depreciated further, trading at N1,570/$1 in the parallel market amid rising forex demand and limited supply. It also weakened against the pound and euro. Despite CBN’s interventions, analysts warn of continued depreciation unless forex liquidity improves. Governor Cardoso vows strict...- Nigeria News
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- cbn forex policy naira depreciation naira exchange rate nigeria parallel market us dollar to naira
- Category: Business
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![Today's Naira Rate [16-01-2025]: Naira Depreciates Across Markets as Parallel Rate Hits N1,670/$](/data/attachments/212/212467-7ad061fd1f2730f2dc92b5294d057d7b.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [16-01-2025]: Naira Depreciates Across Markets as Parallel Rate Hits N1,670/$
The Naira has depreciated to N1,670 per dollar in the parallel market, while its official rate stands at N1,550 per dollar. This shift reflects the widening gap between the parallel and official exchange markets, as reported by the Central Bank of Nigeria. The Naira experienced further...- Nigeria News
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- 1 min read
- central bank of nigeria foreign exchange market naira depreciation official exchange rate parallel market
- Category: Business
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![Today's Naira Rate [14-01-2025]: Naira Struggles as Parallel Market Rate Reaches N1,660/$](/data/attachments/212/212410-d987146b6be27bd1ec22456cd9d9d9e8.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate [14-01-2025]: Naira Struggles as Parallel Market Rate Reaches N1,660/$
The Nigerian Naira depreciated in the parallel market, trading at N1,660/$, while strengthening slightly in the official market to N1,549/$. This widening gap between the two rates highlights ongoing volatility in Nigeria's foreign exchange market, affecting businesses and individuals relying on...- Nigeria News
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- naira depreciation naira exchange rate nigeria forex official market rate parallel market
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![Today's Naira Rate [25-12-2024]: Naira’s Depreciation Continues as Parallel Market Hits N1,650/$](/data/attachments/211/211746-fc88bc2cf08b62eccef5f97dcdd14191.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [25-12-2024]: Naira’s Depreciation Continues as Parallel Market Hits N1,650/$
The Naira has depreciated to N1,650 per US dollar in the parallel market, continuing its downward trend. While the official market shows a slight improvement to N1,537 per dollar, the gap between the two markets widens, posing challenges for Nigeria's currency stability as analysts forecast...- Nigeria News
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- 1 min read
- central bank of nigeria forex market stability naira depreciation nigeria exchange rate parallel market
- Category: Business
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![Today's Naira Rate [12-12-2024]: Naira Slips to N1,720/$ as FX Rate Gap Widens by N175](/data/attachments/211/211289-4523aaaef2728cb1682e6b0e5d6eacb3.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [12-12-2024]: Naira Slips to N1,720/$ as FX Rate Gap Widens by N175
The naira depreciated to N1,720 per dollar in the parallel FX market on December 11, 2024, widening the gap between official and parallel rates to N175. This marks a continuation of the naira's decline, which has affected both markets amid economic uncertainty in Nigeria. The naira has continued...- Nigeria News
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- central bank of nigeria fx market gap naira depreciation parallel market
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![Today's Naira Rate [11-12-2024]: Naira Loses Ground Amid Speculative Trading, Hits N1,780 Per Dollar](/data/attachments/211/211247-18f7ebee5842e1599b5bb6d7ed614446.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [11-12-2024]: Naira Loses Ground Amid Speculative Trading, Hits N1,780 Per Dollar
The Nigerian Naira fell sharply from N1,600 to N1,780 per dollar in the black market, reversing recent gains. Bureau de Change operators and digital platforms reported volatile rates, with speculators blamed for the decline. Analysts urge stronger policies to stabilize the forex market and...- Nigeria News
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- black market rates naira depreciation naira to dollar nigeria forex market
- Category: Business
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![Today's Naira Rate [28-11-2024]: CBN Hike Keeps Naira Stable at N1,750/$ in Parallel Market](/data/attachments/210/210762-766854fddcd675e565fac179cbedfde3.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [28-11-2024]: CBN Hike Keeps Naira Stable at N1,750/$ in Parallel Market
The naira steadied at N1,750/$ in the parallel market after the Central Bank of Nigeria's 25-basis point rate hike. Despite minimal movement in the forex market, experts predict the naira could appreciate in 2025 due to improving foreign reserves and oil production. The naira remained largely...- Nigeria News
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- cbn rate hike fx market trends naira depreciation naira exchange rate nigeria inflation parallel market rate
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![Today's Naira Rate[12-11-2024]: Naira Hits Unprecedented Low of N1,735 per Dollar in Black Market](/data/attachments/210/210139-73c462305b83b320f621df1b58c50ac0.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[12-11-2024]: Naira Hits Unprecedented Low of N1,735 per Dollar in Black Market
The Nigerian naira has plummeted to a record low of N1,735 per dollar in the black market, underscoring Nigeria’s ongoing currency crisis. With demand far outpacing supply, the widening gap between official and parallel rates highlights deep economic challenges and the urgent need for foreign...- Nigeria News
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- naira depreciation naira rates
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Nigeria Naira Set to Weaken to N1,993/$1 by 2028, Report Warns
The Naira is projected to weaken to N1,993/$1 by 2028, affecting Nigeria’s medical device imports. BMI Research reports that the continued depreciation will increase costs, strain healthcare access, and challenge the medical sector. Despite this, local manufacturers could benefit from enhanced...- Nigeria News
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- naira depreciation naira forecast 2028 nigeria medical devices market
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![Today's Naira Rate[01-11-2024]: Naira Declines to N1,735/$ in Parallel Market as Rate Gap Widens](/data/attachments/209/209769-b93ce5212c24c3bd08e3fa7610c004b1.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate[01-11-2024]: Naira Declines to N1,735/$ in Parallel Market as Rate Gap Widens
The naira depreciated to N1,735 per dollar in the parallel market, while appreciating to N1,666.72 in the official NAFEM market. With trading volumes down and the exchange rate margin widening to N68.28, economic concerns over currency stability intensify as Nigeria faces foreign exchange...- Nigeria News
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- nafem exchange rate naira depreciation naira to dollar rate nigerian currency stability parallel market exchange rate
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![Today's Naira Rate[26-10-2024]: Naira Falls to N1,740/$ in Parallel Market as Official Rates Show Mixed Signals](/data/attachments/209/209550-8e774d4b46f10d5320d33103cc295370.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate[26-10-2024]: Naira Falls to N1,740/$ in Parallel Market as Official Rates Show Mixed Signals
The Naira depreciated to N1,740 per dollar in the parallel market while appreciating to N1,601.2 in the Nigerian Autonomous Foreign Exchange Market. Trading volume in the official market increased by 23%, widening the gap between parallel and official rates to N140 per dollar, signaling ongoing...- Nigeria News
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- cbn currency exchange rate foreign exchange market naira depreciation
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Nigeria World Bank: Naira Among Africa’s Most Depreciated Currencies in 2024
The Nigerian Naira ranks among sub-Saharan Africa's weakest currencies, alongside the Ethiopian Birr and South Sudanese Pound, depreciating by 43% by August 2024. The World Bank attributes this to high dollar demand, limited inflows, and rising inflation, with Nigeria’s economic growth...- Nigeria News
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- dollar demand inflation naira depreciation nigerian economy world bank report 2024 worst-performing african currencies
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![Today's Naira Rate[01-10-2024]: Naira Declines, Closing September at N1,705/$1](/data/attachments/208/208816-a1ff39dd457a9e619692b98c1000130e.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[01-10-2024]: Naira Declines, Closing September at N1,705/$1
The Nigerian naira closed September at N1,705 per dollar in the parallel market, marking a significant decline from N1,655. This depreciation results from increased demand and supply shortages, impacting the prices of imported goods. The official exchange rate also fell, signaling a challenging...- Nigeria News
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- 1 min read
- foreign exchange supply naira depreciation nigeria currency news parallel market exchange rate
- Category: Business
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![Today's Naira Rate[25-09-2024]: Naira Depreciates to N1,658.48 as CBN Raises Interest Rates for Fifth Time in 2024](/data/attachments/208/208624-4803cd99f027345ad0bd4f909c6fbdcc.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[25-09-2024]: Naira Depreciates to N1,658.48 as CBN Raises Interest Rates for Fifth Time in 2024
The naira fell by N95.83 to N1,658.48 against the dollar after the Central Bank of Nigeria's rate hike. Increased dollar supply saw market activity surge by 66%. The CBN raised interest rates to 27.25% to stabilize the currency amid growing inflation and monetary supply concerns. The naira...- Nigeria News
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- 1 min read
- cbn interest rate naira depreciation nigerian forex market
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