Tag: Naira Depreciation

In November 2024, the naira depreciated to an average of $/N1,667.41 which marked a 2.14 per cent decline from the $/N1,631.71 recorded in October 2024. 

The Naira experienced a sharp drop from N1600 to N1,780 per dollar on Wednesday which reversed its recent gains in the black market. 

According to Capt. Samuel Caulcrick, Nigeria's flawed tax policy and the failure of the government to properly capture the economy market in the country are a few reasons why the economy would continue to be in doldrums. 

MTN Nigeria has experienced significant financial strain as a result of the continued depreciation of the naira, reporting a net foreign exchange loss of $4,810, million in Q1 2024, contributing to a record high forex loss of $102,363 billion since 2023. 

Rewane: FX Crisis, Energy May Ruin Many Businesses Bismark Rewane, the renowned economic expert, has expressed his optimism regarding the future of Nigeria’s currency, the naira, forecasting brighter days ahead despite its recent depreciation against major foreign currencies. Speaking on Channels Television’s Politics Today on Thursday,...

Rewane: FX Crisis, Energy May Ruin Many Businesses Bismark Rewane, the renowned economic expert, has expressed his optimism regarding the future of Nigeria’s currency, the naira, forecasting brighter days ahead despite its recent depreciation against major foreign currencies. Speaking on Channels Television’s Politics Today on Thursday,...