News Formal

PwC warns against rising market uncertainty

  • 📰 GuardianNigeria
  • ⏱ Reading Time:
  • 31 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 94%

CBN News

PWC

A professional tax and advisory firm, PwC, says Nigeria’s economic outlook remains uncertain despite efforts made by the Central Bank

of Nigeria to ensure stability in the foreign exchange market and attract investors. It noted that the rising inflationary pressure and volatile FX market are increasing the uncertainty level and dampening investors’ confidence.…

But the measure is yet to address the high consumer prices, which are forcing Nigerians to forgo necessities as purchasing power dwindles. “Naira crashed against the dollar by 48% between H1 2023 and H1 2024 , following the unification of exchange rates and FX scarcity,” PwC said in the report. The Central Bank of Nigeria , yesterday, extended a financial lifeline to struggling Unity Bank Plc and gave clearance for its planned merger with Providus Bank Limited in what is seen as a potential end to end of months of apprehension over the fate of the lender. The approval came after months of speculation on…

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

CBN approves Unity Bank, Providus Bank mergerThe Latest news in Nigeria and world news. The Guardian Nigeria Newspaper brings you the latest headlines, opinions, political news, business reports and international news.
Source: GuardianNigeria - 🏆 1. / 94 Read more »

NGX suspends Unity Bank, NPF Microfinance Bank, six other companies sharesThe Nigerian Exchange group has suspended shares trading of Unity Bank, Nigerian Police Force Microfinance Bank, and six other companies that defaulted in filing their relevant accounts for 2023. NGX Regulation, the regulatory arm of the market, disclosed this in a bulletin on Monday, by its head, Godstime Iwenekhai.
Source: DailyPostNGR - 🏆 11. / 59 Read more »