The Nigerian Naira is among the worst-performing currencies in sub-Sahara Africa at the end of August 2024. The World Bank disclosed this in its latest edition of Africa's Pulse report. Report showed that the Naira is at par with the Ethiopian Birr, and South Sudanese Pound in terms of decline in the region.
The Nigerian Naira is among the worst-performing currencies in sub-Sahara Africa at the end of August 2024. The World Bank disclosed this in its latest edition of Africa 's Pulse report. Report showed that the Naira is at par with the Ethiopian Birr, and South Sudanese Pound in terms of decline in the region. The report blamed the continued increase in the demand for dollars and limited dollar inflow for Naira depreciation in the last months.
reports that the Naira weakened significantly on Tuesday to N1658.97 per dollar from N1552.92 exchanged on Monday. In the past months, the Naira has continued to fluctuate against the dollar in the foreign exchange market despite interventions by the Central Bank of Nigeria. Nigeria's inflation rose to 32.70 percent in September from 32.15 percent recorded in August 2024. Despite this, the World Bank's Economic growth in Nigeria is projected at 3.3 percent in 2024 and 3.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Floating of Naira is a death sentence on Nigerian economy — UdeogaranyaA former 2019 Presidential aspirant of the All Progressives Congress (APC), Chief Charles Udeogaranya, has expressed strong disapproval of the Central Bank of Nigeria's (CBN) foreign exchange (FOREX) policy following a recent interview by the CBN Governor, Mr. Olayemi Cardoso, defending the floating of the Naira.
Read more »
Nigerian Ports Authority Begins Implementation of Crude Oil Sale in Naira to Dangote RefineryThe Nigerian Ports Authority (NPA) has commenced implementation of the federal government directive to coordinate service provision from all stakeholders for the smooth sale of crude oil in naira to the Dangote refinery. This move aims to ensure a seamless transition and availability of petroleum products within Nigeria.
Read more »
Nigerian govt commences crude oil sales in NairaThe sale in Naira takes effect from 1 October, the Federal Ministry of Finance said.
Read more »
Nigerian govt announces kickoff of Naira-for-crude sale with Dangote RefineryThe Minister of Finance, Wale Edun, has announced that the Nigerian government has begun the Naira-for-crude sale deal with Dangote Refinery from October 1, 2024. The minister disclosed this in a statement released on the official X account of the Ministry of Finance on Saturday.
Read more »
Nigerian man remanded in custody in South Africa after multi-million romance scamA 39-year-old Nigerian national, Gabriel Okori, has been remanded in custody in South Africa following his arrest for allegedly defrauding a woman of R3 million in a romance scam. Okori, who posed as a white man named 'Mark Hermanus' on Facebook, appeared before the Pretoria Magistrate's Court on Monday, October 7, 2024.
Read more »
Nigerian army emerges overall winner of armed forces games 2024The Nigerian Army has emerged as the overall champion at the Nigerian armed forces games 2024.
Read more »