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    Nigeria’s Debt Service Hits Record 162% Amid Subsidy and FX Reforms

    Nigeria’s Debt Service Hits Record 162% Amid Subsidy and FX Reforms Nigeria’s debt service-to-revenue ratio surged to 162% in Q1 2024, a sharp increase from 128% in the same period last year, despite policies meant to bolster government finances. Here’s a closer look at the implications: Debt...
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    MAN Urges Nigerian Government to Support Locally-Made Products to Ease Forex Demand

    MAN Urges Nigerian Government to Support Locally-Made Products to Ease Forex Demand Detailed Summary: The Manufacturers Association of Nigeria (MAN), through its president Otunba Francis Meshioye, has called on the federal government to actively promote Nigerian-made products to alleviate the...
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    CBN Confirms NNPC’s Autonomy in FX Purchases as Nigeria Pushes for Local Currency Transactions

    CBN Confirms NNPC’s Autonomy in FX Purchases as Nigeria Pushes for Local Currency Transactions Details: At the World Bank/IMF Annual Meetings in Washington DC, Central Bank of Nigeria (CBN) Governor Yemi Cardoso clarified that NNPC Limited operates independently in the foreign exchange market...
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    MULTINATIONALS REEVALUATE NIGERIAN PRESENCE AMIDST DOLLAR SHORTAGE AND CURRENCY CHALLENGES

    MULTINATIONALS REEVALUATE NIGERIAN PRESENCE AMIDST DOLLAR SHORTAGE AND CURRENCY CHALLENGES Summary Breakdown: Economic Conditions Prompt Exit: Multinational corporations are downsizing their Nigerian operations due to severe foreign exchange (FX) shortages and a significant naira devaluation...
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    FX LOAN REPAYMENT TO BOOST INTERNATIONAL BREWERIES' PROFITABILITY – CHAIRMAN

    FX LOAN REPAYMENT TO BOOST INTERNATIONAL BREWERIES' PROFITABILITY – CHAIRMAN Detailed Breakdown: The Chairman of International Breweries Plc, Obi Nnaemeka Achebe, has announced that the company's recent repayment of its foreign exchange-denominated loans will significantly improve its...
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    SUMMARY OF FIVE BANKS FX GAINS REPORT FOR H1

    SUMMARY OF FIVE BANKS FX GAINS REPORT FOR H1 Key Findings: 1. Overall Forex Gains: - Total Forex Gains for H1 2024: ₦67.89 billion - Comparison with H1 2023: A 67.89% decrease from ₦211.42 billion 2. Bank-Specific Forex Gains: - FCMB Group: - H1 2024 Gains: ₦35.19 billion -...
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    ETERNA BLAMES N9BN LOSS ON FOREX CRISIS

    Key Takeaways: - Forex Crisis Impact: Eterna Plc's Chairman, Gabriel Ogbechie, revealed that the company incurred a N9.4 billion loss due to the foreign exchange crisis in 2023. - Operating Profit Increase: Despite the loss, Eterna reported an operating profit of N7.8 billion, marking a 143%...
  8. Amazin Zion

    Forex Liquidity Decline To 21-month Low

    As international investors remain cautious, inflows through the Investors and Exporters window (I&E) fell by 65.7% month on month in July. According to FMDQ data, foreign exchange inflows into the I&E end of the market fell from $1.77 billion in June to $608.00 million in July, the lowest level...
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