Tag
NAIRA
The Central Bank of Nigeria (CBN) in an official statement has announced the unification of all segments of the forex market collapsing all windows into one.
The Nigerian Naira has been in the spotlight for the past few days after reports of plans to unify multiple exchange rate systems, yet the rampaging dollar has kept the naira at suppressed levels.
The naira currency gained one naira against the US dollar and settled at 758 naira/dollar against last week's high of 778 naira per dollar thus with a differential of N20/$
Nigeria's strong appetite for the US dollar is fueling its growing interest in crypto assets, particularly stablecoins like Tether (USDT)
The Nigerian naira has fallen on Binance's P2P trading platform due to the country's deteriorating economy and drop in FDI.
The Central Bank of Nigeria has finally broken its silence on the controversy over the naira redesign policy as it said that the old N200, N500, N1,000 bank notes remain legal tender till December 31, 2023.
The Kaduna State Governor, Nasir El-Rufai, has said that the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, introduced the naira redesign policy to help the Peoples Democratic Party (PDP) to win the 2023 general elections.
The Central Bank of Nigeria (CBN) has reacted to reports that President Muhammadu Buhari authorized the reissuance of old N500 and N1000 notes.
The Federal Government has said it would obey the Supreme Court ruling that temporarily suspended the February 10 deadline given by the Central Bank of Nigeria (CBN) for the exchange of the old naira notes with the newly redesigned naira notes.
We interviewed traders to get their views on why the exchange rate depreciated on the first working Monday of the year.
The exchange rate crisis is affecting foreign investor inflows into Nigeria’s stock market
The total amount of currency outside of Nigerian banks rose by N1 trillion to a whopping N2.8 trillion as of October 2022