Tag: Naira
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Foreign reserves decline as the naira declines in spite of FX changes
Nigeria's aggressive foreign currency reforms under President Bola Tinubu have failed to produce the outcomes many predicted, with detractors blaming implementation.
In the first year...
BDC attributes the depreciation of the Naira to inadequate forex allocation
A senior representative of the Association of Bureau De Change Operators (ABCON), who preferred to remain unnamed, provided insight into the Naira's continued devaluation,...
NGX Group generates N6.96 billion in transaction fees and treasury investment revenue
Nigerian Exchange Group Plc earned N6.959 billion from transaction fees and treasury investment income in the fiscal year ended December 31, 2023.
Nairametrics was able...
Airtel Records $549M Foreign Exchange Loss on Naira, Kwacha Devaluation
Airtel Africa, Nigeria's second-largest telecoms operator, recently announced substantial financial setbacks due to currency depreciation in important markets such as Nigeria and Malawi.
For the...
Naira’s hold on the illicit market weakens as the US dollar gains ground
The naira traded close to its low on Wednesday due to strong demand for the haven currency in Africa's largest economy, while the US...
