Recession: EU advises Nigeria to devalue Naira

European Union (EU) official Fillippo Amato has advised the Federal Government to devalue the Naira as part of measures to tackle the economic recession. Amato, Counsellor, Head of Trade and Economics Section of EU, made […]

Capital market investors lose N873bn in 12 months

Investors in the Nigerian capital market (equities category) have recorded a loss of N873bn in the past 12 months. Between September 28, 2015 and Wednesday, the Nigerian Stock Exchange market capitalisation dropped from N10.572tn to […]

$1 is now N490, while £1 is N600

Aminu Gwadabe, president of the Association of bureau de change operators of Nigeria (ABCON), says the free fall of the naira is due to activities of Nigeria’s immediate neighbours. Over the week, the naira has […]

Naira Dips Further Against Dollar

At the interbank segment of the market, the naira lost 53 kobo to close at N308.32, from N307.79 posted on Friday. Trading at the Bureau De Change (BDC) showed that the naira lost 5 points […]

Naira plunges to 440 as dollar inflow drops

The naira was sold at the parallel market for 440 per dollar on Sunday, as the lingering foreign exchange scarcity increased to a new level. The local currency, which closed at 436/dollar on Thursday, eased […]


A recent investigative report by Economic Confidential puts the total annual remuneration of President Buhari and his cabinet at N2.295billion. In the extensive report, President Buhari and his deputy, Professor Yemi Osinbajo enjoy a hardship […]

MORE TROUBLE | External reserves drop to $24bn

The country’s external reserves have depleted further to a record-low of $24.8bn, according to the latest data posted on the Central Bank of Nigeria’s website. The foreign exchange reserves fell by $600m in two weeks […]

Governors back sale of national assets

Governors have expressed support for the plan proposed by the economic management team to steer the nation out of recession. The economic team has proposed the sale of some of the nation’s assets to resolve […]

CBN holds interest rate

The Central Bank of Nigeria held its key interest rate on Tuesday, opting to reassure jittery currency investors rather than cutting rates to help growth. CBN governor Godwin Emefiele told a news conference in the […]

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