Naira
9 Dec
Naira continues to gain on strength, trading for N1,535 to the dollar, up from below N1,700, which it traded before the commencement of the new trading platform introduced by the Central Bank of Nigeria (CBN).
27 Nov
Despite the announcement of an interest rate hike by the Central Bank of Nigeria (CBN) on Tuesday, the naira appreciated to N1, 659.44 against the US dollar. Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed a N16.88 gain against the dollar from the N1, 675.62 it traded at on Monday. A look at…
26 Nov
In the 3rd quarter of 2021, the naira crossed five hundred to the dollar, and Emefiele confirmed he had lost it by challenging speculators to join him in a fisticuff to defend the naira. On seeing this, this writer, in an article titled: ‘Stop Borrowing Dollars Borrow Sense’, predicted a dollar changing for N1,000 within…
21 Nov
Nigeria’s “Renewed Hope” budget has faced a stark reality with soaring inflation and a plummeting naira igniting a construction crisis.
19 Nov
In 2019, I wrote a piece narrating the harrowing experience of customers with virtually all the banks in Nigeria. A friend of mine who is a seasoned banker by all accounts, read it and came to me to explain the challenges of the banking system.
18 Nov
The Naira on Monday depreciated at the official market trading at N1,690.37 against the dollar. Data from the official trading platform of the FMDQ Exchange, revealed that the Naira lost N38.12. This represents a 2.3 per cent loss when compared to the previous trading date on Friday, November 15th when it exchanged at N1,652.25 a…
15 Nov
The Nigeria Macroeconomic Outlook for 2025 has predicted that the naira could sell for N2000 per dollar in a worst-case scenario, while both currencies may exchange for about N1790 in a best-case scenario. The Macroeconomic Outlook, released yesterday in Abuja by Veriv Africa, a data insights, research, and advisory company, also forecast a 3.6 percent…
15 Nov
The General Overseer of the Redeemed Christian Church of God (RCCG), Pastor E.A. Adeboye, has said that without divine intervention, the
14 Nov
NIGERIA's weak naira has impacted MTN Group’s service revenue, which triggered a 18.5 per cent fall to 127.37 billion rands in the first nine months of 2024 from 156.29 billion rands in the corresponding period of 2023. MTN's Group President and Chief Executive Officer, Ralph Mupita, noted that the naira's depreciation had a material impact…
11 Nov
The Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) has blamed the continuous depreciation of the naira on the low local production capacity of the country. The chamber made this disclosure in a statement issued by its President, Mr. Odeiga Jideonwo, and made available to newsmen in Enugu on Monday. According to Jideonwo, the…
11 Nov
The Economic and Financial Crimes Commission (EFCC) has clarified that the alleged naira abuse that happened at a wedding ceremony in Kano State on Friday, October 24, 2024, was not that of the daughter of Senator Danjuma Goje. EFCC Spokesperson, Dele Oyewale, who made the clarification on Monday in Abuja, noted that the abuse was…
11 Nov
The Economic and Financial Crimes Commission (EFCC) has asked a bridegroom, Ibrahim Mohammad, who hails from Niger Republic, to produce his guests who allegedly abused the naira note at his wedding reception in Kano. EFCC Spokesperson, Dele Oyewale, confirmed the development on Monday in Abuja, stating that the commission has invited the Nigerien groom, Mohammad,…
Latest
3 mins ago
The National Chairman of the Labour Party, Julius Abure, has said that godfatherism will play no role in selecting the party's flagbearer for the upcoming Anambra State governorship election. He assured aspirants of a level playing field as the party seeks to unseat Governor Chukwuma Soludo of the All Progressives Grand Alliance (APGA). Abure made…
6 mins ago
US President Donald Trump has signed an executive order directing the Justice Department to halt the prosecution of Americans accused of bribing foreign countries to win business. According to the order, the US Attorney General, Pam Bondi, will pause prosecutions under the Foreign Corrupt Practices Act of 1977. The pause will remain until Bondi issues…
13 mins ago
Nigeria experienced a staggering 20,472 fatalities and injuries resulting from 5,291 separate incidents of violence between 2020 and 2024. Presenting its annual violent conflict report 2025, Nextier - a non-governmental organisation - said its Violent Conflicts Database revealed that Nigeria recorded 43 incidents of terrorism and 1,306 bandit attacks in 2024. Nextier Managing Partner, Dr…
44 mins ago
Top members of the New Nigeria People's Party (NNPP), who are grassroots mobilisers of the Kwankwasiyya Movement, have dumped the party for the All Progressives Congress (APC). This was announced by the Deputy President of the Senate, Senator Barau Jibrin, who welcomed them to the APC. According to Jibrin, who shared on X, the first…
53 mins ago
Renowned leadership coach and former presidential candidate of the defunct Alliance for New Nigeria, Fela Durotoye, has revealed how he rejected an attempt to engage in a fraudulent government deal worth N5 billion, despite intense pressure from an official who claimed to be a pastor. Speaking at the ongoing biannual conference of the Pentecostal Fellowship…
1 hour ago
Bayelsa State Governor, Douye Diri, has rejected social media rumours alleging that he is responsible for the pregnancy of reality TV star, Nengi Hampson. The rumours, which recently gained widespread attention, claimed that Nengi had given birth to the governor’s child, with some even suggesting he has four wives. The Guardian reports that, on Monday,…
1 hour ago
February 14 is Valentine’s Day. Also known as Lovers’ Day, it is a day set aside to celebrate love. Just as there are healthy ways of celebrating love, there are also unhealthy ways of doing so. But first things first! It is generally believed that Valentine’s Day is named after Saint Valentine, a Christian martyr.…
1 hour ago
The Southern Caucus of the 10th Cross River State House of Assembly has passed a vote of confidence on Governor Bassey Otu and declared him as their choice for the 2027 governorship election. The lawmakers, comprising representatives of Akamkpa, Akpabuyo, Bakassi, Biase, Calabar South 1, Calabar South 2, Calabar Municipal, and Odukpani constituencies, made their…
1 hour ago
Manchester City boss Pep Guardiola said his side lacks composure to defend a lead after Real Madrid struck twice late on to snatch a 3-2 win from the first leg of their Champions League play-off. City have dipped drastically from the high standards they have set during Guardiola's glorious nine-year reign this season, with the…
1 hour ago
Nigeria spends about $10 billion annually on raw material imports despite having many of these resources in abundance, the Minister of State for Industry, Trade, and Investment, Senator John Owan Enoh, has revealed. The minister also disclosed that the country loses an estimated $25 billion annually due to the underutilisation of its manufacturing sector, primarily…