In times of economic instability, it’s easy to focus on the challenges and overlook potential opportunities. For many Nigerians, the depreciation of the naira might seem like a purely negative development. However, with the right mindset and strategies, it’s possible to turn this situation into a profitable one. This article will guide you through understanding … Read more
EFCC Initiates Measures to Combat Currency Mutilation and Dollarization, Protecting Economic Stability. The Economic and Financial Crimes Commission (EFCC) has taken decisive action to clamp down on currency mutilation and the dollarization trend in Nigeria’s economy. Announced via the commission’s official social media channels on February 7, 2024, this move underscores EFCC’s commitment to … Read more
Naira’s Struggle Persists Despite Increased Liquidity: Market Insights. The Nigerian naira is grappling with challenges as it hovers near its all-time low, despite a boost in liquidity from a $2.2 billion facility provided by the African Import Export Bank (AFREXIMBANK). The market fundamentals reveal that the naira is under pressure due to heightened demand … Read more
The Central Bank of Nigeria’s (CBN) latest money and credit statistics indicate a notable upswing in the amount of currency in circulation (CIC), showing an increase of approximately N890 billion between September 2023 and December 2023. This surge, observed during Governor Cardoso’s tenure, highlights a significant climb from N2.76 trillion in September to N3.65 trillion … Read more
Naira Depreciation Threatens 2023 Dividends: Expert Insights on Impact and Strategies. In light of the recent free fall of the Naira and its potential repercussions on the capital market, some key insights from market experts shed light on the challenges and opportunities for quoted companies in 2023. This article explores the impact of Naira … Read more
The forex turnover witnessed an impressive surge of 148.95%, reaching $242.60 million, fueled by a marginal gain of the Naira against the dollar on January 10, 2024. The official market maintained its position above the N1,000/$ threshold, showcasing a 0.66% appreciation of the domestic currency, closing at N1082.32 to a dollar, according to data from … Read more