Naira Continues to Appreciate, Closes at N1,560.57/$ Officially The Nigerian Autonomous Foreign Exchange (NAFEM) saw a notable appreciation on Tuesday, with the closing rate standing at N1560.57 to $1. This represents a significant gain of N36.67 or 2.35% from Monday’s closing rate of N1,597.24/$1. Additionally, the Naira...

Naira Continues to Appreciate, Closes at N1,560.57/$ Officially The Nigerian Autonomous Foreign Exchange (NAFEM) saw a notable appreciation on Tuesday, with the closing rate standing at N1560.57 to $1. This represents a significant gain of N36.67 or 2.35% from Monday’s closing rate of N1,597.24/$1. Additionally, the Naira...

Nigeria’s Foreign Tax Earnings Springs Up Over Weak Naira Nigeria has witnessed a significant surge in tax earnings from foreign firms, with figures nearly doubling in the span of one year. This significant fiscal boost is likely due to the weakening of the naira, which has...

Dangote, Nestle, Others Lose N1.7tn to Naira Depreciation Dangote Group, Nestle Nigeria and MTN Nigeria, alongside four of Nigeria’s most capitalised companies, lost N1.7tn to the depreciation of the naira in 2023. According to an analysis of their financial statements published on the website of the...

Nigerian Breweries Incurred N106.3bn Loss in 2023 – Report Nigerian Breweries Plc, the biggest brewer in the country, recorded an after-tax loss of N106.31 billion, driven by foreign exchange losses that strained its financial performance. The brewer swung to a loss from a profit of N105.8...

Nigerian Breweries Incurred N106.3bn Loss in 2023 – Report Nigerian Breweries Plc, the biggest brewer in the country, recorded an after-tax loss of N106.31 billion, driven by foreign exchange losses that strained its financial performance. The brewer swung to a loss from a profit of N105.8...