Tag: Fx crisis

In October 2024, the naira lost value in relation to the dollar due to ongoing instability in the foreign exchange market, according to the FMDQ Exchange, which is home to ...

The Manufacturers Association of Nigeria has said that its members have lost at least N1.5tn in the last six months to forex-related transactions. The Director-General of MAN, Segun Ajayi-Kadir, made ...

Nigeria's ambitious goal of achieving a 70% broadband penetration by 2025 is encountering significant obstacles due to the ongoing foreign exchange crisis and declining investment in telecom infrastructure. Impact of ...

The Federal Government has announced a 90-day window to regularise import duties on specific categories of vehicles. The National Public Relations Officer of the Nigeria Customs Service, Abdullahi Maiwada, disclosed ...

The Central Bank of Nigeria (CBN) has taken a decisive step to address the persistent distortions in Nigeria’s foreign exchange market, aiming to narrow the widening gap in exchange rates. ...

The Manufacturers Association of Nigeria (MAN) has expressed concerns about the prolonged foreign exchange crisis in the economy, warning that it may lead to factory shutdowns if the situation persists. ...

The Nigerian Electricity Regulatory Commission (NERC) is contemplating another price hike for prepaid meters in response to mounting production costs faced by meter manufacturers. Sources familiar with the matter informed ...