Mail & Guardian
Mail & Guardian

Naira

latest news & developments
Nigeria President Bola Tinubu.
HUNGER PROTESTS

Good choices, bad outcomes, harder lives in Nigeria

Food and fuel have become prohibitively expensive and many Nigerians can no longer afford the basics

  • The Continent
  • Pelumi Salako
4 min read
Before Bobrisky, the anti-corruption watchdog successfully convicted actress Oluwadarasimi Omoseyin in February on the same charges. On conviction, she was given the option to pay a fine instead of going to prison. (Photo credit should read STEFAN HEUNIS/AFP via Getty Images)
AFRICA

Transgender celebrity Bobrisky jailed in Nigeria

She was convicted for ‘spraying’ bank notes into the air but even her detractors believe she is being punished for defying the country’s conservatism regarding gender and sexuality

  • Vincent Desmond
6 min read
Big spenders: Vodacom says it will invest R800 million in its network in KwaZulu-Natal, including rolling out full fibre broadband, expanding its coverage in deep rural areas. (Waldo Swiegers/Bloomberg via Getty Images)
DEVALUATION

Egypt and Nigeria currency devaluations hurt Vodacom, MTN

Emerging markets will always be susceptible to currency risk, analysts say

  • Anathi Madubela
4 min read
Despite problems in Nigeria, Standard Bank said it anticipates more growth from its Africa operations. (Waldo Swiegers/Bloomberg via Getty Images)
BANK

Standard Bank, hit by naira devaluation – but not knocked out

Despite problems in Nigeria, the bank said it anticipates more growth from its Africa operations

  • Anathi Madubela
3 min read
AKUDO OKORO

Bitcoin booms in Nigeria as naira flags

Nigeria’s central bank has repeatedly warned against the risks of investing in cryptocurrencies and even ordered local banks to close accounts trading in them.

  • Segun Olakoyenikan
4 min read
‘I’m proud to be the nominee of the House Democratic caucus once again for speaker of the House,’ Pelosi told reporters as votes were being counted. (Joshua Roberts/Reuters)
MTN

MTN affair casts shadow over Nigeria’s economy, say analysts

In a shock announcement last Wednesday, the Central Bank of Nigeria ordered MTN to repay $8.13-billion

  • Sophie Bouillon
  • Gregory Walton
4 min read
ECONOMICS

Floating the naira knocks a chunk off Nigeria’s GDP as economists predict volatility

Unpegging the currency from the dollar may also prompt a dramatic spike in inflation.

  • Staff Reporter
4 min read
Charges in sub-Saharan Africa average 12% on transfers of $200
AFP

Global fall in oil prices affects Nigerian naira

Nigeria toughens currency trading curbs to slow down the depreciation of the naira following the collapse of global oil prices.

  • Staff Reporter
2 min read
The higher producer prices come after consumer inflation also bucked consensus expectations, shooting through the upper limit of the Reserve Bank’s target in May. (Oupa Nkosi, M&G)
CENTRAL BANKS

Economic week ahead: SA waits on latest rates decision amid Ukraine tension

Rates decisions from Africa’s two largest economies, developments in Ukraine and key US, European and Asian reports are likely to move markets.

  • Matt Quigley
6 min read
South Africa has many macro-assets attractive to investors, such as a vibrant democracy, a relatively diversi?ed economy, abundant natural resources and a transparent legal system.
CENTRAL BANK OF NIGERIA

Nigeria’s naira drops as investor flows reduce

The central bank of Nigeria has felt the effects of its decison to relax the weekly limit on trading in dollars.

  • Jaco Visser
1 min read
NAIRA

Nigeria’s central bank to act to stabilise naira

Nigeria’s central bank will intervene in the foreign-exchange market from Thursday to ensure the naira’s stability.

  • Oludare Mayowa
1 min read