Nigerians have raised concern over skyrocketing prices of airfares despite assurances by the Minister of Aviation Festus Keyamo to look into some of the sharp practices by airlines in the industry. The Nigeria Civil Aviation Authority (NCAA) has set up a committee to look into the hike in the price of fares by foreign airlines,…

In recent years, the naira-dollar market in Nigeria has so far been liberalised twice. The first, in June 2016 and the second, in June 2023. Both moves have significantly contributed to the rapid decline in the value of the naira. If the monetary authority firmly embraces and continues to stick to this option, the strength of the currency will yet again continue to shrink at an accelerating pace.

The Nigerian government may be considering clamping down on cryptocurrency trading platforms to stabilise the naira amid a foreign exchange crisis.

A group of constitutional lawyers, led by Yusuf Ahmed Tijani, has emerged as staunch defenders of former CBN Governor Godwin Emefiele, denouncing accusations of economic mismanagement during his tenure as "baseless" and politically motivated. In a statement released on Monday, the lawyers condemned Senator Godswill Akpabio's recent criticism of Emefiele, labeling it a "childish attempt"…

The upward review of official exchange rate being used for the computation of import duty has had devastating effect on businesses across all sectors, according to the Centre for the Promotion of Private Enterprises (CPPE).

The Centre for Social Justice, Equity, and Transparency (CESJET) has called on Olayemi Cardoso to resign as the Central Bank of Nigeria governor. In a statement signed by its Executive Secretary, Dr. Toyin Dawodu, the Centre described Cardoso as clueless, incompetent, and unprepared for the job. Lamenting the naira's persistent downward trajectory, Dawodu added that…

The deplorable state of the Naira's exchange rate, currently hovering around N1,300 to the Dollar, has stirred significant concern among stakeholders, with Ambassador Olufemi Ajadi Oguntoyinbo adding his voice to the growing chorus. As a member of the Manufacturers Association of Nigeria and the gubernatorial candidate of the New Nigeria People's Party (NNPP) in Ogun…

World Bank Lead Economist for Nigeria, Alex Sienaert, said the country’s economy is expected to grow at an average annual rate of 3.5% in 2023-2026 with the continued implementation of macroeconomic stabilization reforms. Sienaert said this in a statement on the Nigeria Development Update (NDU) report by the World Bank. The NDU is a biannual…

Worried about the continuous fall of the Naira against the dollar, the Association of Corporate Treasurers of Nigeria (ACTN) has called on the Federal Government to implement policies that would facilitate the convergence of Nigeria's official window and parallel market rates. According to them, the reason for the floating of the Naira was for the…

The Naira on Monday has lost against the Dollar as it exchanged at N773.50 at the Investors and Exporters window. The local currency depreciated by 7.08 percent against the N736.62 it exchanged for the dollar on Sept. 8. The open indicative rate closed at N771.49 to the Dollar on Monday. A spot exchange rate of…

.Experts meet today to discuss peering, interconnection in Ghana The Institute of Chartered Accountants of Nigeria (ICAN), yesterday, warned that the much-anticipated foreign exchange stability and economic growth may remain elusive if lasting solutions are not provided in the short, medium and long-term, as against the quick fix interventions by the Federal Government. It noted…

The Tertiary Education Trust Fund (TETFund) has said it may suspend foreign scholarships due to additional costs caused by the exchange rate. TETFund Executive Secretary, Sonny Echono, said this when he appeared before the House of Representatives Ad-hoc Committee investigating the alleged mismanagement of ₦2.3 trillion in tertiary education tax by TETFund. Echono said that…