May 01
Nigeria: Naira Rebounds, Gains N28.15 Against Dollar
The naira closed the month of April on a good footing as it gained N28.15 at the official market, trading at N1,390.96 to the dollar. Read more »
May 02
Nigeria: Naira Abuse - Cubana Chief Priest, EFCC to Settle Out of Court
Cubana Chief Priest and the EFCC have agreed to settle out of court. Read more »
April 29
Nigeria: Why Naira Depreciated By 23% in 4 Days - Currency Dealers, Analysts
A surge in demand for dollars in the parallel market driven by banks and end-users combined with slow forex disbursement to BDCs by the Central Bank of Nigeria, CBN, caused the… Read more »
April 22
Nigeria: Mixed Reactions Trail Video of Couple's Customised N200 Notes
A video circulating on social media has sparked controversy after it captured N200 notes featuring a couple's personalized photo and names. Read more »
April 21
Nigeria: Fx Puzzle - Nigerians Query High Food Prices Despite Dollar's Crash
With Naira appreciating to N1, 300 to the dollar thus giving a ray of hope that the economy is recovering, Nigerians, including farmers and Civil Society Organizations, CSOs, are… Read more »
April 19
Nigeria: Naira Abuse - Bobrisky's Conviction Selective Justice - Salami
Abuja-based public interest lawyer Barrister Temi Salami has criticized the Nigerian judiciary for what he perceives as a focus on minor offences over more significant cases of… Read more »
April 17
Nigeria: Naira Abuse - 'No More Spraying of Money', Portable Begs EFCC
Street-pop artiste, Habeeb Okikiola, popularly known as Portable, has appealed to the Economic and Financial Crimes Commission (EFCC) to forgive him for spraying money on his… Read more »
March 08
Nigeria: Nigeria Targets Cryptocurrency in Bid to End Naira Freefall
The world's biggest cryptocurrency exchange Binance is halting operations in Nigeria's naira currency as the government puts cryptobusinesses under increasing scrutiny. Read more »
February 26
Nigeria: Forex Crisis / Clampdown On BDCS 'Ll Worsen Situation - Peter Obi
...it shows lack of understanding of problem Read more »
February 20
Nigeria: Electricity - Forex Crisis, Inflation Drive Up Meter Prices By 80 Percent - -Investigation
NIGERIA'S foreign exchange and inflation have combined to push the prices of prepaid meters year-on-year, YoY by 80 percent to N147, 610.43 (Single phase) in February 2024, from… Read more »
February 12
Nigeria: Blame Corrupt Politicians for Downturn of Naira - Isa Yuguda
·Links food crisis to insecurity, hoarding Read more »
February 09
Nigeria: Governors Demand Urgent Solutions to Inflation, Insecurity
The Nigeria Governors' Forum (NGF) has called for urgent discussion among stakeholders to address food inflation, naira depreciation, and rising insecurity across parts of the… Read more »
January 22
Nigeria: Central Bank Still Short of Forex to Clear Backlog - Fitch
Fitch, one of the leading global credit rating agencies, has said that the Central Bank of Nigeria (CBN) still lacks sufficient foreign exchange (forex) to clear the backlog of… Read more »
January 08
Nigeria: Naira Notes Scarcity - Crunch Worsens, Banks Ration Cash Across the Counter
Fresh developments in the financial sector have shown that despite the Central Bank of Nigeria, CBN's move to ameliorate the cash crunch situation by suspending charges for cash… Read more »
Nigeria: U.S. Based Prof Urges Tinubu to Boost Diaspora Remittances to Alleviate Forex Scarcity
An Assistant Professor of Criminal Justice at Southern University and A&M College in Baton Rouge, Prof Abiodun Raufu, has advised President Bola Tinubu to target increase in… Read more »
November 29, 2023
Nigeria: Supreme Court Okays Indefinite Use of Old, New Banknotes
The Supreme Court has ruled that both the old and the redesigned Naira banknotes remain valid legal tenders in the country beyond December 31. Read more »
November 09, 2023
Nigeria: Exchange Rate - NECA, Experts Disagree On Govt's Target
Against the backdrop of indications that the Federal Government is putting in place measures to achieve exchange rate target of N500-N600/$1, while reorganising the banking sector,… Read more »
October 30, 2023
Nigeria: Naira Depreciation 'Ll Affect Volume of Imports - Stakeholders
A group of freight forwarders known as Patriots Anti-Corruption Initiative, T-PACI, has indicated that current pressures on foreign exchange supply and the consequent sharp… Read more »
Nigeria: NLC, TUC, NECA to Govt - Halt Fall in Naira Value
The Nigeria Labour Congress, NLC, Trade Union Congress of Nigeria, TUC, and the Nigeria Employers' Consultative Association, NECA, yesterday raised the alarm over the continued… Read more »
October 05, 2023
Nigeria: World Bank Lists Naira Among Worst-Performing African Currencies
The World Bank has the Nigerian naira is among the worst-performing currencies in the African continent. Read more »
October 02, 2023
Nigeria: Dollar Now Underground Currency of Nigeria's Economy - Peter Obi
The presidential candidate of the Labour Party in the 2023 general elections, Peter Obi, has lamented the 'dollarisation' of the Nigerian economy. Read more »
September 19, 2023
Nigeria: Stabilise Naira, End Corruption to Unlock Nigeria's Success - U.S. Treasury's Adeyemo Tells Tinubu
U.S. Deputy Treasury Secretary, Wally Adeyemo on Monday advised President Bola Tinubu-led government to stabilize Naira and fight corruption to unlock Nigeria's potential. Read more »
June 14, 2023
Nigeria: Central Bank Directs Banks to Trade Forex At Any Rate
There are indications that the Central Bank of Nigeria, CBN has directed banks to trade foreign exchange at any exchange rate in the Investors & Exporters window based on… Read more »
March 29, 2023
Nigeria: Queues Disappear As Banks Increase Cash Payout to Customers
Banks, yesterday, increased cash payout to customers leading to a sharp reduction in the long queues and massive crowds that characterised the cash dispensary points in the last… Read more »
Nigeria: We Don't Print Biafra Currency, Not Govt - IPOB
The Indigenous People of Biafra (IPOB) has said it does not operate government in exile, warning those behind such a move to desist from using the group. Read more »