Thu Mar 3, 2016/Reuters South Africa’s MTN Group expects Nigeria to devalue the naira by up to 22 percent at some point this year, chief financial officer Brett Goschen said on Thursday. Africa’s biggest wireless operator is in talks with Nigerian authorities to reduce a $3.9 billion fine imposed last […]
Tag: Devaluation
Naira Slumps 20.69%, Trades N350 to Dollar
By InvestAdvocate Lagos (INVESTADVOCATE)-The Nigerian naira on Thursday slumped 20.69 percent on Thursday following gains recorded earlier in the week reversing to trade N350 to a dollar, according to Cordros daily market update. The update affirmed that as at the time of its report, the naira in the interbank market […]
Devaluation Not Only Option to Resolve Nigeria’s Economic Woes-Expert
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)- Johnson Chukwu, managing director (MD) of Cowry Asset Management Limited on Thursday said not only devaluation; but a cocktail of policies amongst others are some of the alternative options to solving Nigeria’s economic crises. Chukwu says these include exchange rate adjustment, creating windows of […]
