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March 05
Ghana: Bank of Ghana Suspends Forex Trading Licences of GTBank, FBN Bank Amid Regulatory Breaches
The Bank of Ghana has issued a temporary suspension of the Foreign Exchange Trading Licences of Guaranty Trust Bank Ghana Limited (GTB) and FBNBank Ghana Limited (FBN) starting… Read more »
February 01
Nigeria: CBN Unfolds Measures to Boost Fx Supply, Mitigate Foreign Currency Speculation
In a major policy initiative aimed at market correction and to boost FX supply, the Central Bank of Nigeria (CBN), yesterday, mandated deposit money banks (DMBs) to ensure that the… Read more »
January 30
Nigeria: CBN Pays Additional $64m, Concludes Fx Payment of Verified Airlines Claims
The Central Bank of Nigeria (CBN) says it has concluded the payment of all verified claims by airlines with an additional 64.44 million dollars. Read more »
November 15, 2023
Nigeria: CBN - Old N100, N200, N1,000 Banknotes Remain Legal Tender Interminably
The Central Bank of Nigeria (CBN) yesterday said it intends to extend the legal tender status of the old N200, N500, and N1, 000 denominations beyond the December 31, 2023 deadline… Read more »
September 22, 2023
Nigeria: Naira Falls Further to N995/$ On Parallel Mkt, Edun Blames $6.8bn Backlog for Currency's Woes
The naira declined further on the parallel market arm of the foreign exchange (FX) market to N995 to a dollar, weaker than the N990 to a dollar it closed the previous day. Read more »
August 16, 2023
Nigeria: Does Brics Matter to Nigeria?
A skit circulating in the cyberspace is said to be the story of the Nigerian economy: in just two minutes the exchange rate of the naira to a dollar rises from N730 to N1,200. Read more »
August 14, 2023
Nigeria: Central Bank Vows to Crackdown On Currency Speculators
The downward slide of the exchange rate of the naira to dollar has attracted the attention of the government at the centre as the Central Bank of Nigeria (CBN) on Monday expressed… Read more »
March 27, 2023
Nigeria: Many Benefits of CBN's Cash-Less Policy
Obinna Chima writes that the cash-less policy will contribute in the drive to formalise economic activities and reduce drastically the prevalence of cash in the economy, which has… Read more »
March 08, 2023
Nigeria: Adjusting to Reality of Cashless Economy
James Emejo writes that the CBN's cashless policy bolstered by the recent redesigning of the Naira may have come to stay, ushering in a new dawn for electronic payment in the… Read more »
February 21, 2023
Nigeria: President Buhari Cannot Overrule the Supreme Court
Background Read more »
February 17, 2023
Nigeria: Far From the Middle Ground
The presidential reissue of old N200 notes will not resolve the political and social crises precipitated by the new monetary policy. Read more »
February 15, 2023
Nigeria: Mobile Transfers Peaked Highest in January With 108 Million Transactions
The month of January 2023 recorded the highest number of mobile money transactions since its inception at 108 million, numbers released by the Nigeria Inter-Bank Settlement System… Read more »
February 14, 2023
Nigeria: Does the Supreme Court Have Original Jurisdiction Over Naira Deadline Case?
The epic battle over the retention or ban of old Naira currency notes in the 200, 500 and 1,000 denominations shifted to the Supreme Court last week, when the Attorneys-General of… Read more »
February 09, 2023
Nigeria: Sterling Bank Denies Stashing N258m New Naira Notes In Vault
Sterling Bank yesterday denied claims made by the Independent Corrupt Practices Commission (ICPC) that it stashed N258 million of the newly redesigned naira notes in its vault at… Read more »
January 27, 2023
Nigeria: Youth Group Backs CBN's Currency Redesign Policy
* Calls for an end to Emefiele's harassment Read more »
January 18, 2023
Nigeria: Cash Withdrawal Limit - Banks Suspend Transactions Via Naira Credit, Prepaid Cards
In compliance with the Central Bank of Nigeria's (CBN) currency redesign and cash withdrawal policy that limited withdrawals across all channels to N500,000 weekly, banks have… Read more »
January 03, 2023
Nigeria: 27 Days to Retirement of Old Naira Notes, Central Bank Urged to Intensify Awareness
Barely 27 days to the deadline issued by the Central Bank of Nigeria (CBN) for the return of the old N200, N500, and N1, 000 banknotes following the currency redesign programme,… Read more »
December 29, 2022
Nigeria: Old Naira Notes - Senate Asks Central Bank to Shift Deadline to June 30
Following the redesigning of the N200, N500 and N1,000 banknotes, the Senate in a unanimous resolution yesterday urged the Central Bank of Nigeria (CBN) to extend the deadline for… Read more »
December 15, 2022
Nigeria: Court Refuses Motion Seeking to Stop CBN's Cash Withdrawal Limit
Justice Chizoba Oriji of a High Court of the Federal Capital Territory (FCT) in Maitama has refused to grant a motion seeking to stop the new cash withdrawal policy of the Central… Read more »
Nigeria: Police Debunk Report of Old Naira Notes Stashed in Barracks
The Benue State Police Command has refuted reports that old naira notes were discovered in a police barracks in Wadata, Makurdi, the state capital. Read more »
November 27, 2022
Nigeria: As New Currency Notes Rekindle Battle to Save Naira
The unveiling of the new currency notes by President Muhammadu Buhari, the tightening of interest rates by the Central Bank of Nigeria and the renewed resolve of the Economic and… Read more »
November 24, 2022
Nigeria: Buhari Excited By New Banknotes, Says Enhanced Security Features'll Make Counterfeiting Difficult
President Muhammadu Buhari yesterday said the newly redesigned N1, 000, N500, and N200 denominations unveiled by the Central Bank of Nigeria (CBN) had been fortified with security… Read more »
November 18, 2022
Nigeria: Bawa - Naira Redesign Significant Step to Economic Recovery
The Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa has once more praised President Muhammadu Buhari and the Central Bank of Nigeria (CBN) for… Read more »
November 14, 2022
Nigeria: Naira Redesign - CBN Moves to Protect Unbanked, Vulnerable in Rural Communities
*Says banking public response to policy positive Read more »
November 06, 2022
Nigeria: 'Put Obasanjo On New Naira Note'
Chuks Okocha in Abuja Read more »
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