Numerous Nigerian students studying in the United Kingdom are currently grappling with financial difficulties after the value of the naira plummeted by more than 60 percent, following the recent decision by the Central Bank of Nigeria (CBN) to unify the country’s foreign exchange rates.Approximately two weeks after President Bola Tinubu pledged to unify Nigeria’s multiple […]
The Senate urged the Central Bank of Nigeria (CBN) to release $717,478,606 in trapped funds belonging to airlines operating in the country. They also requested that $25 million be allocated to these airlines at the regular dollar auction. These resolutions were made during a Senate session discussing the issue of blocked funds in Nigeria, with […]
In response to viral news on social media that the Central Bank of Nigeria (CBN) planned to withdraw recently redesigned N1,000, N500, and N200 currency banknotes from circulation, the CBN’s Acting Director of the Corporate Communications Department, Isa AbdulMumin, has made a statement clarifying that there are no plans to phase out the redesigned Naira […]
Most firms have set up a war room to triage their immediate response to the crisis. But the lack of visibility around future demand complicates efforts to restart stalled portfolio companies…