For the second time this week, the naira appreciated significantly against the United States dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), the country’s official exchange rate window.
The naira recovered from N837.77/$1, on Monday, to N806.73/$1, on Tuesday, after it slumped to N927.19/$1 on Friday, December 1, 2023...
Amid frequent fall in naira, the house of representatives committee on finance, loans, and debt management, has recommended that all locally produced goods be banned from importation.
The house gave the recommendation while considering a report on the 2024-2026 medium-term expenditure framework and fiscal strategy paper (MTEF/FSP).
Recall that the...
By SKC Ogbonnia
The point of this matter is short and simple. Barring the desired change from the status quo, a mass revolution of global consequence is imminent in Nigeria. Commonsense dictates that the masses—home and abroad—are merely waiting for the outcome of the court cases challenging the sham election.
The...
In an impassioned key note speech, delivered before global leaders, at the 7th Tokyo International Conference on African Development (TICAD) in Yokohama, Japan, African investor and philanthropist Tony O. Elumelu CON, challenged the Government of Japan to invest 5% of its $50billion commitment to Africa, in empowering African...
The naira, on Monday, continued its appreciation against the dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), the country’s official exchange rate window, as it closes at N750.14/$1.
The rate represents a recovery of N41.61k from the N791.75 recorded last Friday.
According to Data from FMDQ Securities Exchange, a platform...
Despite experiencing decline in the last two days and high inflation rate in October, the naira, on Wednesday, still gained against the U.S. dollar in the official market.
It could be recalled that the National Bureau of Statistics (NBS), had released inflation rate which stands at 27.33% in October, up...
Despite volatility in the Nigeria’s foreign exchange market, Nigeria recorded a daily foreign exchange turnover of $100.06million in the Nigerian Foreign Exchange Market (NAFEM).
The daily forex turnover rose by 32 percent from $75.82million, on Friday, November, 24, 2023 to $100.06million on Monday, November, 27, 2023.
According to the data from...
The volume of shares traded on the Nigerian Stock Exchange (NSE) in January dropped by 42.38 per cent due to uncertainties surrounding the forthcoming general elections, said analysts.
Specifically, 6.24 billion shares worth N59. 28 billion were exchanged in 80,888 deals by investors in January.
The News Agency of Nigeria...
