devaluation

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    Naira Devaluation Hits Companies Hard as Six Firms Record ₦255bn FX Loss

    Naira Devaluation Hits Companies Hard as Six Firms Record ₦255bn FX Loss The persistent depreciation of the naira has led to significant foreign exchange (FX) losses for six companies listed on the Nigerian Exchange Limited (NGX), amounting to a combined ₦255.72 billion in their financial...
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    SIGNIFICANT FINANCIAL EVENT: THE NAIRA DEVALUATION IN JUNE 2016

    SIGNIFICANT FINANCIAL EVENT: THE NAIRA DEVALUATION IN JUNE 2016 EVENT OVERVIEW: The significant devaluation of the Nigerian Naira occurred in June 2016. The official float was announced on June 20, 2016, and the naira devalued to around ₦280/$1 the following day. However, there was also a...
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