Business

For weeks, there has been chaos in Nigeria’s micro and macroeconomic sectors as commercial banks, business owners and Nigerians continued to count their revenue losses owing to the untamed naira crisis. The pain of Naira scarcity has been on the lips of many Nigerians, including corporate, small-scale businesses, petty traders, …

A recent report by the Manufacturers Association of Nigeria, MAN has predicted imminent mass job losses in the first quarter of 2023 amid the currency crisis. The Confidence Index Report by MAN indicated that the employment rate would dip below benchmark points to 48.8 points in the first quarter of …

The Debt Management Office, DMO, said it raised N724.9 billion in its latest bond auction. The auction, which was held on February 13, 2023, saw 577 bids worth N724.9 billion received for the total amount offered of N360 billion. In a statement on Monday, the country’s debt office disclosed that …

Commercial banks in Ilorin, the Kwara State capital, are rejecting old naira notes from customers despite an order of the Supreme Court. Recall that the Supreme Court temporarily restrained the CBN from withdrawing and making the old currency notes of 200,500 and 1000 naira denominations obsolete till Wednesday, February 15, …

IN a very quick survey last night , I asked people to choose between four very popular brands – Coca-Cola versus Pepsi and Milo versus Bournvita While I wasn’t surprised at the result that came out for the Cocoa beverage, that of the fizzy drink shocked me to my bone …

The Naira exchanged at N461.50 to the dollar at the Investors and Exporters window on Friday. The number represented an appreciation of 0.09 per cent equated with the 461.10 it exchanged on Thursday. The open indicative rate on Friday closed at N461.50 to the dollar. An exchange rate of N462.05 …

Nigerians, especially bank customers, were gripped with confusion and uncertainty over whether today’s deadline by the Central Bank of Nigeria for the phasing out of the old naira notes still remains or it has been suspended following the Supreme Court injunction obtained by some northern governors. The Supreme Court had …

The Central Bank of Nigeria, CBN, on Thursday promised to supply commercial banks with plenty of funds to address the new Naira note scarcity in Kogi State. Kogi CBN Branch Controller, Ahmed Sule, made the vow while speaking with NAN in his office in Lokoja. Recall that protesters had on …

Amid the national currency crisis, the naira on Wednesday exchanged at N461.17 to the dollar at the Investors and Exporters window. The figure represented a slight appreciation of 0.07 per cent compared to the 461.50 it exchanged for on Tuesday. The official market indicative exchange rate closed at N461.50 to …

The Secretary of the Independent Petroleum Marketers Association of Nigeria, IPMAN Abuja-Suleja, Mohammed Shuaibu, has disclosed that the National currency crisis affected its members. Shuaibu on Wednesday spoke on the recurring decimal of fuel scarcity in most parts of the country. He explained that petrol marketers are worse hit by …