Naira Fall Damages Companies Earnings And Balance Sheets

The macroeconomic indices are continuing to decline dramatically, which is placing tremendous pressure on the local firms. The depreciation of the naira threatens the...

Nigeria’s Imported Food Inflation Soars to 29.8% Amid Naira Depreciation

In a concerning economic development, Nigeria has witnessed a sharp rise in imported food inflation, surging to a staggering 29.8% in February 2024 from...

Customs Exchange Rate for Cargo Clearance Dips to N1593/$

In a notable development for importers and traders, the exchange rate for cargo clearance has witnessed a decline, dropping to N1593.41 per US dollar...

Equity Market Surges by N2 Trillion on Bargain Hunting Activity

In a week marked by fervent bargain hunting and strategic positioning ahead of the dividend season, the Nigerian Exchange witnessed a remarkable surge, gaining...

FG in Advanced Talks with World Bank for $1 Billion Loans

In a bid to tackle the pressing issues affecting Internally Displaced Persons (IDPs) and rural communities, the Federal Government of Nigeria is nearing the...

Consumer Index Drives NGX Market Cap By N28bn

The Nigerian Exchange's (NGX) equity market capitalization increased by N27.65 billion due to a surge in the stocks of FBN Holdings and Dangote Sugar...

Naira Rallies, FX Gap Moderates To Single Digit

On Thursday, the naira saw a little increase in value due to the US dollar's volume surpassing the overall demand recorded by foreign exchange...

Nigeria Receives N1.20trn As VAT Income In Q4 2023 – NBS

According to the National Bureau of Statistics (NBS), in Q4 2023, the total Value Added Tax (VAT) was recorded at N1.20 trillion. The VAT...

NDDC Forges Alliance with Rice Farmers to Enhance Food Security

The Niger Delta Development Commission (NDDC) has embarked on a collaborative effort with the Rice Farmers Association of Nigeria (RIFAN) aimed at fortifying food...

CBN Maintains Prohibition on Banks Using FX Revaluation Gains for Dividends

The Central Bank of Nigeria (CBN) has reaffirmed its stance that banks operating within the country are not allowed to utilize their foreign exchange...

Mr Aigboje Aig-Imoukhuede Returns To Access Holdings as Chairman

Access Holdings Plc has announced the return of Access Bank’s pioneer Group Chief Executive Officer (Group CEO), Mr Aigboje Aig-Imoukhuede, as its Non-Executive Chairman....

Naira Drops As Official Rate Passes Black Market By N30

Due to pressure from US dollar demand on the official window's exchange rate, the value of the Nigerian naira declined. On the other hand,...

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