30 results
- 13 Nov 2024
Naira Depreciation Erodes Firms' Confidence, Drops by 3.2 Index Points — CBN
Nigerian businesses are becoming less confident in the economy as expectations of further naira depreciation loom before the year ends, according to the Central Bank of Nigeria’s (CBN) Business…
- 24 Nov 2023
CBN to Introduce New FX Laws and Guidelines to Tackle Naira Depreciation — Cardoso
Mr Yemi Cardoso, Governor of Central Bank of Nigeria CBN, has stated that the apex bank will soon introduce a new set of foreign exchange laws and guidelines to tackle Naira depreciation and achieve…
- 16 Oct 2024
Naira depreciates by 43%, listed among worst-performing currencies in Africa - World Bank
Nigerian naira has been listed as one of the worst-performing currencies in Sub-Saharan Africa in 2024. This is according to the World Bank’s latest Africa’s Pulse report. As of August 2024, the…
- 9 Apr 2014
Nigeria’s Crude Export to US Depreciates by 91%
The negative effect of shale oil exploration in the United Stated of America, USA, and other parts of the world is already telling on Nigeria as her crude oil export to North America dropped by 91.31…
- 13 May 2016
Naira Falls to N370/S as Importers Chase Forex
The sharp depreciation of the naira in the parallel market triggered by the deregulation of petrol importation continued yesterday, with the naira depreciating to N370 per dollar. The Petroleum…
- 7 Oct 2024
Moody Says MTN, LIT Exposed to Currency Volatility, Inflation Risks in Nigeria, Others
MTN and Liquid Intelligent Technologies (LIT) are exposed to inflation and currency depreciation in their South Africa, Zimbabwe and Nigerian markets, said Moody’s Ratings, adding though that…
- 17 Oct 2017
5 Ways To Make Your Laptop Battery Last Longer
By Gideon Ayogu We have all been in that position where our laptop battery starts to malfunction; that moment when a 10-hour battery life device depreciates to serving you for one hour or less.…
- 28 Nov 2018
Falling Oil Prices Weigh on Nigerian Economy, G20 Summit in Focus
By Lukman Otunuga, Research Analyst at FXTM, The recent depreciation in oil prices presents significant risks to oil export-dependent nations, with Nigeria falling into the category. Depressed…
- 5 Feb 2020
What Does the Coronavirus Mean for Oil and the Nigerian Economy?
By Lukman Otunuga, Senior Research Analyst at FXTM, It is hard to believe that Oil prices have depreciated over 17% since the start of 2020. The coronavirus outbreak in China triggered shockwaves…
- 21 Feb 2017
Naira to Hit N1000/$ Soon- Expert
Henry Boyo, Nigerian economic expert has warned that the Naira will depreciate further against the dollar to N1000 per dollar at the parallel market before the end of the year if care is not taken.…
- 10 Jan 2022
IMF Tells Nigeria, Others to Devalue Currency, Hike Interest Rates
The International Monetary Fund (IMF) has advised emerging economies including Nigeria to allow their currencies to depreciate in response to tighter funding conditions and an imminent policy…
- 9 Mar 2020
Nigeria’s Economy Under Threat as Oil Prices Collapse
B y Lukman Otunuga, Senior Research Analyst at FXTM, The staggering depreciation in Oil prices could not have come at a more disruptive and critical time for the Nigerian economy. Pres, Buhari Oil…
- 13 Mar 2020
Naira Crashes to N420 to Dollar over COVID-19
The Naira exchanged between N405 and N420 to the dollar yesterday as panic buying by foreign currency traders triggered another round of depreciation of the local currency. Also at the Investors…
- 4 Dec 2018
Naira Extends Losses in Parallel Market
By Lukman Otunuga A depreciating Dollar has done little to stem the Naira’s decline on the parallel markets with the local currency sinking towards 369N. Political uncertainty ahead of the…
- 24 Jan 2017
FXTM Analysis- Trump Fueled Dollar Rally Falters
FXTM Research Analyst Lukman Otunuga comments on a depreciating Dollar from the persistent Trump uncertainties has played a key part in the GBPUSD’s sharp rebound with further upside expected in the…
- 21 Jul 2025
Naira Slides Again, Hits ₦1,532.34/$ Despite CBN’s Dollar Push
The naira closed the past week weaker than the previous one, as it depreciated by 0.14 per cent week-on-week to settle at 1,532.34/$ at the Nigerian Foreign Exchange Market. This weakening came…
- 17 Jan 2024
FG Seeks $1.5Bn Loans from World Bank to Boost Naira
Nigerian government is actively pursuing a $1.5 billion loan from the World Bank to address the severe dollar shortage that has been contributing to the depreciation of the naira. Wale Edun, finance…
- 16 Feb 2026
Nigeria’s Internet Users Hit 148.2m Amid Data Cost Surge
Nigeria's internet subscriber base surged to 148.2 million by December 2025, achieving 68.3% penetration, even amid 50% tariff hikes and naira depreciation, according to Nigerian Communications…
- 10 Jul 2020
Naira Weakens, Oil Slips, Stocks Flat
By Lukman Otunuga, Senior Research Analyst at FXTM As the coronavirus menace dug its vicious talons deeper into Africa’s largest economy, the Central Bank of Nigeria wasted no time in depreciating…
- 1 Feb 2024
Airtel Africa Plans Share Buyback; Profit Down
Airtel Africa PLC on Thursday said it plans to launch a share buyback programme starting next month, as it reported a decline in profit and revenue amid a depreciating Naira, the Nigerian currency.…
- 7 Apr 2026
Multichoice Bleeds Customers in South Africa, Loses 580,000 Subscribers
Rising cost of living, currency depreciation, and competition from streaming services have all conspired to see MultiChoice lose 589,000 South African subscribers in its latest financial year. The…
- 21 Jun 2016
FXTM: Hot Topic– Nigeria De-Peg
The Naira bears received ample encouragement during trading on Monday with prices depreciating more than 40% against the Dollar at 280 following the central bank of Nigeria’s historic decision to…
- 21 Jun 2016
Naira Crashes to N289/Dollar as CBN Offers $4Bn
The naira plunged by 31 per cent to 288.85 against the United States dollar on Monday at the close of trading at the newly established interbank market. The local currency also depreciated at the…
- 19 Mar 2019
Naira Steady Ahead of FOMC Meeting, Oil Pushes Higher
Lukman Otunuga, Research Analyst at FXTM, The Nigerian Naira was basically flat on the forward markets, despite the Dollar depreciating on expectations that the Federal Reserve will be adopting a…
- 9 May 2024
SEC Bans to Person-to-Person Cryptocurrency Trading to Protect the Naira
Securities and Exchange Commission (SEC) said that it will prohibit person-to-person (P2P) cryptocurrency trading in the Naira, aiming to safeguard its local currency from further depreciation and…
- 11 Sept 2016
My Experience with OLX ‘Do-It-For-Me’ Service- Afuberoh
They say time is money so having the time to focus on things that are truly important is a welcome luxury in these times of economic hardships. The depreciation of the Naira has seen the cost of…
- 17 Feb 2016
CBN Eyes Exchange Rate of N500 to Dollar
Central Bank of Nigeria is reportedly pushing for exchange rate of N500 to a dollar at the parallel market to discourage importation of frivolous items into the country and in the process, conserve…
- 31 Jul 2022
MTN Rakes in N947Bn Revenue as PAT Grows 28% to N181.6Bn
MTN Nigeria has recorded a 28.1 per cent rise in profit after tax (PAT) to N181.6 billion in the first half of the year, with profit before tax (PBT) up by 24.9 per cent to N268.6 billion and…
- 29 Dec 2014
Consumers May Pay More for Goods, Services in 2015 - LCCI
The Lagos Chamber of Commerce and Industry (LCCI) and Manufacturers Association of Nigeria (MAN) have expressed anxiety on the possibility of consumers paying more for goods and services in 2015.…
- 29 Dec 2023
Naira Crashes to All-time Low to N1,043.09/$ at Official Market
Naira on Wednesday hit a record low of N1,043.09 per dollar, following strong demand for the greenback amid dollar shortage at the official foreign exchange (FX) market. After trading on Wednesday,…