Naira records highest depreciation against dollar amid Trump’s tariff war
This week, the Nigerian naira experienced its biggest drop against the US dollar at the official exchange market. The Central Bank of Nigeria (CBN) reported that the naira fell to N1,552.53 per dollar on Thursday, down from N1,531.25 on Wednesday. This represents a N21.28 drop in just one day, the largest single-day decline since March […]
Naira Strengthens Against Dollar in Black Market During Sallah Holiday
During the Sallah holiday, the Naira experienced a modest rise to N1480 per dollar on the parallel market, commonly known as the black market. Dayyabu Ashiru, a currency trader at Wuse Zone 4 in Abuja, informed the Daily Post on Tuesday. He mentioned that the demand for foreign currency remained stable because of the Eid-el-Kabir […]
Guinness to Exit Nigeria After 75 Years in the Market
Guinness, the global beverage company, has revealed its decision to leave Nigeria due to financial losses. The company plans to sell its majority shares to the Tolaram Group from Singapore on June 11. Guinness is among several multinational companies, including GlaxoSmithKline and Microsoft, that have exited Nigeria, blaming the tough economic conditions in the country. […]