Naira Crisis

February 11, (THEWILL) - The old and common parlance, suffering and smiling, is no longer applicable to Nigerians. In as much as they try to cope with the burden of daily life, the unending hardships are not helping matters...

February 03, (THEWILL) - The Federal Government, through the Central Bank of Nigeria (CBN), has further jerked up the exchange rate for cargo clearance to N1,413.62/$1. This is coming barely 24 hours after it increased the Customs exchange rate to...

January 31, (THEWILL) - The Senate, on Wednesday, summoned the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, over the state of the economy and free fall of the Naira. Chairman of the Senate Committee on Banking, Insurance,...

December 31, (THEWILL) - By every measure, the year 2023 has been one of the most challenging in living memory to operators in all sectors of the Nigerian economy: all economic projections and benchmarks missed their targets by wide...

November 26, (THEWILL) - The total assets of 10 Nigerian deposit money banks were collectively eroded by $24.73 billion (N18.7 trillion) as of September 30, 2023, following the devaluation of the Naira, computations by THEWILL have shown. The financial services...

October 31, (THEWILL) - Governors of the Peoples Democratic Party (PDP), on Tuesday, met at the Oyo State Governor’s lodge in Abuja. Those in attendance were Bala Mohammed (Bauchi State), Siminalayi Fubara (Rivers State), Ahmadu Umaru Fintiri of Adamawa State,...

October 31, (THEWILL) - The Central Bank of Nigeria (CBN) has refuted social media reports that it is planning to redenominate the Naira with effect from January 2024. The apex bank, in a statement on Tuesday, signed by Isa AbdulMumin,...

October 21, (THEWILL) - The Senate Leader, Sen. Opeyemi Bamidele, has urged federal lawmakers to come up with creative legislative frameworks and provide robust oversight support that could guarantee the appreciation and stability of Naira. He made the call in...

October 05, (THEWILL) - The first local currency-denominated infrastructure investment trust fund in Nigeria and Sub-Saharan Africa, Nigeria Infrastructure Debt Fund (NIBF) has been listed on Nigerian Exchange Limited (NGX). The listing, which took place on Thursday 5 October, was...

Closing the week, the Nigerian equities ended on a positive note as the All-Share Index closed 1.68% stronger to settle at 65,003.39 points as against 63,930.72 points the previous day. Market capitalisation rose to N35.39 trillion from N34.81 trillion...