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devaluation

23 Dec 2019
If President Muhammadu Buhari’s 2019 economic decisions were anything to go by, 2020 could be a wild ride with the government moving all the pieces on whims rather than fact. The economy experienced slow growth in 2019, an election year where the incumbent retained power and foreign capital flight continued due to the uncertainties of…
26 Nov 2019
Nigeria’s foreign exchange reserves fell below $40 billion for the first time in 23 months, as the country’s crude oil earnings remain under pressure in the international market, while the apex bank sustains its currency defence efforts.
23 Aug 2016
These days, it takes the same amount of effort to find a goat that is mild mannered and does not smell as it does to find a state in Nigeria where workers and pensioners are not being owed salaries or allowances.
12 Jul 2016
The ‘419’ scam is well known in Nigeria for boasting empty promises of stupendous returns which induce victims to willingly part with their valued possessions.
13 Jun 2016
As the irrational exuberance and euphoria following the announcement to move towards a flexible exchange rate regime subside, we can now focus on the key fundamental ...
3 Jun 2016
Accordingly, any devaluation of the Naira in its presently comatose health situation will accelerate its demise as it may lose the two nominal functions it still seems to perform patchily.
2 Jun 2016
The yuan fell, heading for the steepest monthly decline since the August devaluation, after the Federal Reserve chief said an interest-rate increase could come in the next few months.
26 May 2016
The case made against devaluation is often based on technical grounds, namely that: Nigeria is highly dependent on imports the demand for which is inelastic ...
24 May 2016
Given their widespread impact, it is not surprising that exchange rate developments are a matter of great interest and often concern to Governments, the business community and the general public.
20 May 2016
The arguments adduced by self-styled economic experts or analysts who have been advocating for official devaluation of the Naira exchange rate vis-a-vis the U.S.
16 May 2016
There is no truth whatsoever in speculations that the naira has been devalued or that a devaluation is imminent, the Central Bank of Nigeria (CBN) has said.
15 May 2016
The experts agreed that Nigeria’s forex market cannot be left to continue with the current trajectory, as there was need to close the gap between the official and parallel markets.

Latest

24 mins ago
Minister of State, for Science, Technology and Innovation, Chief Henry Ikechukwu Ikoh, on Wednesday said Nigeria's dwindling revenue base and an upsurge in the foreign exchange rate was a development that calls for serious concern.
2 hours ago
The Minister of Information and Culture, Lai Mohammed, has officially extended an invitation to all member states of the United Nations World Tourism Organization (UNWTO) to the first-ever UNWTO Global Conference on Tourism, Culture, and Creative Industries, to be held in Lagos between November 14 and 16. The Minister gave the invitation to member states…
3 hours ago
There are strong indications that the Federal Government may have failed in its policy and regulatory direction towards harnessing existing 14,120MW of exploitable hydropower despite the country’s gross energy deficit.
3 hours ago
Just as it was with the major opposition Peoples Democratic Party (PDP), on Tuesday when its meeting to mend fences ended in a deadlock, the meeting called, yesterday, by the ruling All Progressives Congress (APC) between its governors and the party leadership...
3 hours ago
Wike is a governor I cherish. I like the way he behaves but not recently. When you overdo certain things, you start getting negative reactions even among the people who love you.