Nigeria’s Naira Woes Hit Billionaires As Dangote Loses $8.6billion

Nigeria’s efforts to curb the naira’s depreciation have proven insufficient, with the central bank’s rate hikes and attempts to clear dollar backlogs failing to arrest the currency’s slide. The sustained weakness has inflicted billions of dollars in losses on the nation’s bilionaires. Telecoms and oil billionaire Mike Adenuga has weathered the storm relatively well, shedding only $300 […] The post Nigeria’s Naira Woes Hit Billionaires As Dangote Loses $8.6billion appeared first on The Capital NG.

  Business   May 16, 2024   0   14  Add to Reading List
Nigeria’s Naira Woes Hit Billionaires As Dangote Loses $8.6billion

Nigeria’s efforts to curb the naira’s depreciation have proven insufficient, with the central bank’s rate hikes and attempts to clear dollar backlogs failing to arrest the currency’s slide. The sustained weakness has inflicted billions of dollars in losses on the nation’s bilionaires. Telecoms and oil billionaire Mike Adenuga has weathered the storm relatively well, shedding only $300 […]

The post Nigeria’s Naira Woes Hit Billionaires As Dangote Loses $8.6billion appeared first on The Capital NG.

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