Nairametrics - Business news, Economy, Investing, and Financial …
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End to Nigeria currency peg causes biggest fall in naira’s history
WEBJun 14, 2023 · Nigeria has abandoned its years-long currency peg and allowed the naira to trade freely, traders and local bankers said, prompting the biggest single-day fall in its history.
Nigeria allows currency to drop third of value on official market
WEBJun 14, 2023 · Nigeria’s central bank allowed the naira currency to drop as much as 36 percent on the official market on Wednesday, days after President Bola Tinubu suspended the central bank governor who ...
Nigeria's naira crisis: Supreme Court suspends banknote deadline - BBC
WEBFeb 8, 2023 · Nigeria's Supreme Court has temporarily suspended Friday's deadline to stop using old banknotes, which had caused a cash crisis in the country. Banks have not been releasing enough of the new...
Naira Reverses Gains as Outlook Dims on Declining Dollar Inflows
WEBMay 10, 2024 · Nigeria’s naira has reversed recent gains and is now the world’s worst performing currency in the last month, increasing pressure on the central bank to keep raising interest rates.
Nigeria allows naira to drop more than 36% on official market
WEBJun 14, 2023 · Nigeria's central bank allowed the naira currency to drop as much as 36% on the official market on Wednesday, days after President Bola Tinubu suspended the central bank governor who oversaw...
Nigeria’s currency has fallen to a record low ... - Associated Press News
WEBFeb 17, 2024 · Nigerians are facing one of the West African nation’s worst economic crises in as many years triggered by a surging inflation rate which follows monetary policies that have dipped the local currency to an all-time low against the dollar, provoking anger and protests across the country.
NGN/USD: Naira's Outlook Brightens As Currency Stabilizes
WEBMar 18, 2024 · Nigeria’s prolonged battle to stabilize its currency is finally bearing fruit, with analysts now forecasting the battered naira could rebound sharply before the end of the year.
Nigeria devalues the naira in bid to attract foreign investors
WEBFeb 1, 2024 · Nigeria devalues the naira in bid to attract foreign investors. Move leaves official exchange rate close to black market rate and follows removal of currency peg last year. The naira fell by...
Nigeria's naira briefly drops to record low on official market
WEBABUJA, Nov 16 (Reuters) - Nigeria's naira briefly slumped to a record low against the dollar in thin trading on the official market on Thursday, bringing the official exchange rate within...