Naira devaluation
In a bid to curb currency speculation and stabilize the Nigerian naira, the Economic and Financial Crimes Commission (EFCC) reportedly apprehended several Bureau De Change (BDC) operators at Wuse Zone 4 market in an operation on Tuesday. The arrest follows a surge in the exchange rate, with the naira trading at 1,416 against the US […]
Again, former President Muhammadu Buhari has lauded President Bola Tinubu for his performance in office amidst the economic difficulties faced by Nigerians nationwide. Buhari acknowledged the complexity of Nigeria’s challenges, stating that there are limited solutions to address the current situation. Since Tinubu assumed office, Nigeria has grappled with severe economic challenges, notably the discontinuation […]
Wale Edun, the finance and coordinating minister of the economy under President Bola Ahmed Tinubu’s government, has pointed fingers at former President Muhammadu Buhari’s administration for Nigeria’s hyperinflation. Edun asserted that the administration’s indiscriminate printing of trillions of naira, totalling N22.7 trillion through the Central Bank of Nigeria’s Ways and Means overdraft from 2015 to […]
MTN Nigeria Communications Plc has reported a staggering N137 billion loss in its audited results for the period ending December 31, 2023. This significant loss, compared to the N348.73 billion profit declared in 2022, is primarily attributed to the devaluation of the Nigerian Naira by the Central Bank of Nigeria (CBN). Despite the challenging operating […]
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