CBN announces huge interest rate hike in response to naira crisis
The Central Bank of Nigeria (CBN) has announced a significant 400 basis point increase in its benchmark interest rate, raising it from 18.75% to...
Nigeria’s economic growth hits three-year low in 2023
Nigeria's economy expanded by 2.74 percent in 2023, marking the slowest pace of growth in three years, according to data released by the National...
Nigeria unemployment rate up again after revised calculation
Nigeria's unemployment rate climbed to 5% in the third quarter of 2023, coinciding with a deepening cost-of-living crisis triggered by the government's elimination of...
Stocks, naira down. What worsening economy means for Nigerians
Nigeria's economic woes intensified on Monday, with both the naira and stock markets experiencing significant setbacks.
The naira hit record lows on both official and...
Naira hits new low of 1,650 per dollar in intraday trading
The naira fell to another record low of 1,650 to the dollar in intraday trading on the official market on Monday, Reuters reported.
The currency...