There is little to contend with the fact that a country in need of foreign direct investment needs to reach out to other countries to showcase its credentials.

Blordgroup has reached a significant milestone in its expansion strategy with the acquisition of a U.S. Dollar virtual card license, marking a pivotal advancement in the company’s financial service offerings. This move not only enhances Blordgroup’s product portfolio but also provides users with increased flexibility in managing their finances. The license acquisition was made possible…

  The Executive Secretary (ES) of the Nigerian Shippers’ Council (NSC), Pius Akutah, said it has saved Nigeria from spending billions of Naira by performing its statutory roles and functions. READ ALSO:Tinubu applauded on sale of crude oil to Dangote Refinery in Naira Akutah said this on Sunday at a maiden visit to Kaduna to…

The Nigerian Exchange Limited (NGX) is experiencing more pressure, as investors continue to face uncertainty about investing and trading in the country. This is a result of the global market decline. This crisis has led to a N93bn loss in market capitalization which now stands at N55.40tn. The All-Share Index fell to 97,582.41 points, down…

The Naira on Monday appreciated at the official market, trading at N1,607.15 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the Naira gained N9.93. This represents a 0.61 per cent gain when compared to the previous trading…

TELECOMMUNICATIONS firm, MTN Nigeria Communications Plc has declared a loss after tax of N519.1 billion for the first half of 2024 as record-high inflation and the naira’s devaluation continue to worsen the country’s operating environment. The N519 billion losses is coming despite a 32.6 per cent growth in service revenue to N1.5 trillion, according to…

The recurring shortage of cash in the Nigerian economy and the unwholesome commoditisation of the naira, the country’s national currency, has become an issue of great concern, as it can undermine the fledgling cashless policy of government.

The Central Bank of Nigeria (CBN) has disbursed $148 million to 29 authorised dealers to stabilise the foreign exchange market amid the recent decline of the naira. The CBN, in a statement on its website, said the sales occurred on July 22 and 23, 2024, with exchange rates ranging from N1470.00 to N1510.00 per dollar.…

Nigeria is set to implement something unprecedented: a 70 percent Tax or Levy on a ‘windfall’ profit that accrued to commercial banks following last year’s significant devaluation of the Naira

The naira, Nigeria’s currency, has bitten the dust. Once the dominant currency on the African continent, stronger in global purchasing than the US dollar and pars the British pound, the currency is no longer safe as its value is being attacked and disempowered on two fronts to a level not seen in more than half a century. Abroad, exchange rate depreciation is quickly diminishing its worth and at home, inflation is sweepingly destroying its power to buy goods and services. The combined impact of these discrete changes has significantly ravaged the welfare of millions of Nigerians, drifting the economy, yet again, to the brink of another recession – a period of intense economic hardship and a fertile terrain for breeding violence and crime in the land. Tracing the roots of these economic problems and how the naira can be liberated to restore faith in currency is what this article is about.

A Mexican billionaire and chairman of Salinas Group, Ricardo Salinas Pliego, has urged his followers to invest in Bitcoin following the depreciation of the naira. The naira's decline has been so severe that N1 is now worth less than one satoshi, the smallest unit of Bitcoin (0.00000001 BTC). Salinas, whose net worth stands at $12.7…

MulitiChoice Group demonstrated resilient operational performance for the year ended March 2024, delivering a 26 per cent trading profit margin in South Africa, while increasing trading profit in the Rest of Africa by 48 per cent,