Nigeria’s naira is on the brink of breaching 1,000 per dollar after falling to an official record low of 999 last week, Refinitiv data showed, tracing its weakness on the unofficial market where it trades […]
• Offical rate now N999/$1 Nigeria’s naira hit a new record low of N999 per dollar on the official market on Thursday, October 19, 2023, Refinitiv data showed, in line with weakness on the parallel […]
Nigeria’s central bank raised its main lending rate by a smaller-than-expected 25 basis points on Tuesday, July 25, 2023, saying it preferred a moderate increase to anchor inflation expectations while continuing to support investment. In […]
Nigeria’s naira traded at a record low of N860 per dollar on the black market on Thursday, July 20/2023, according to traders, weakening below its official rate a month after the country devalued the currency […]
By Marvellous Nyang After days of keeping mum on the Supreme Court judgement, the Central Bank of Nigeria (CBN) has said that old naira notes, N200, N500, and N1,000 banknotes remain legal tender till December […]
By Marvellous Nyang Nigeria’s Supreme Court has validated the old naira notes as legal tender to December 31, 2023. The apex court in its ruling on Friday, March 3, 2023, thereby ordered that old N200, […]
By Marvellous Nyang To ease the national tension created by the scarcity of new banknotes, President Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) to release old N200 notes into circulation. He gave […]
• Says to vacate order • CBN attributes scarcity of new naira to hoarding • Lawmakers to find solutions to crisis Nigeria’s Attorney General and Minister of Justice, Abubakar Malami, has expressed the Federal Government’s […]
Nigeria’s Supreme Court on Wednesday, February 8, 2023, prevented the government from enforcing a Friday deadline for citizens to swap old banknotes for new ones, as the International Monetary Fund flagged disruptions to trade and […]
• Says ‘People need cash daily, most commerce informal’ • VP wants more engagement of FinTechs, mobile money agents in distribution Worried by the difficulty experienced by Nigerians in getting the new naira notes, Vice […]
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