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Naira

Naira, Ghana Cedis, Egyptian Pounds Rated Worst Performing Currencies

Devaluation and Market Volatility Hit Naira Hardest The naira has emerged as the worst-performing currency globally in the first half of 2024, according to a Bloomberg report released on Friday. The report highlights that devaluation, insufficient dollar liquidity, and market volatility have

June 29, 2024

Business·News

Naira Rebound Leads To Nationwide Drop In Rice Prices

In weeks, the Nigerian currency, the Naira, has appeared to gain strength against the US dollar, activating a significant drop in the cost of rice across various regions in the country. Following the rebound of the Naira against the dollar, the cost

April 23, 2024

Business·FEATURES·News

Nigeria’s Naira Strains As Wheat Imports Rise: A Call For Local Production

Nigeria faces a mounting challenge as its importation of wheat skyrockets, putting pressure on its currency, the naira. With imported wheat subsidiaries like noodles, pasta, and bread remaining staples in the country’s diet, the demand for wheat continues to surge in spite

April 22, 2024

Naira Falls To ₦1,530/$ At Official Market After Public Holiday

Business·Currency·News

Nigeria’s Foreign Reserves Hit Six-Year Low At $32.87bn As Naira Struggles

Nigeria’s economic landscape faces fresh turmoil as the country’s foreign exchange reserves hit a bleak low, recording $32.87 billion at December’s close, marking a six-year nadir. The data, revealed via the Central Bank of Nigeria’s website, signals a concerning trend, indicating a

December 29, 2023

Naira To Sustain Depreciation In 2024 - Analysis Reveals

Business·Finance & Economy·News

CBN’s Old, New Naira Notes To Co-exist Indefinitely – Supreme Court Rules

The Supreme Court, on Wednesday, ruled that the old Naira denominations of N200, N500 and N1,000 notes continue to co-exist with the new notes as legal tender till further notice. The Supreme Court had in March 2023 extended the deadline for the

November 29, 2023

News

NLC Blames Govt Officials For Forex Crisis, Demands Urgent Stabilisation Of Naira

(NLC) has pointed out that government officials’ predilection for foreign luxury products is responsible for the free fall of the national currency, warning that the country’s economy was at risk

October 30, 2023

Naira Appreciates To N869/$1 As Experts Debate Stability

Business·Currency

Nigerians Rush For Dollar, Push UP USD Rate Amid Naira Scarcity

The Naira lost some value against the United States Dollar (USD) in official and black markets, on Thursday, 16 February 2023. The FMDQ Exchange, which tracks official exchange rates, reports that the value of Dollar went up by 0.11 per cent or

February 17, 2023

Business

CPPE’s Muda Yusuf Tackles CBN’s Emefiele Over Naira In Circulation Claim

The founder of the Centre for the Promotion of Private Enterprise (CPPE), Muda Yusuf, has revealed that contrary to the statement of the Central Bank of Nigeria (CBN), cash is not supposed to be inside commercial banks. Recall that the CBN Governor,

January 31, 2023

CBN Places Service Restriction On PoS Agents Across Nigeria

Business

CBN’s Emefiele Says Old Naira Deadline Forcing Hoarders To Deposit Funds

Over N1.9 billion has been recovered from Naira hoarders, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has disclosed. The central bank had disclosed out of N3.3 trillion local currency in circulation, N2.7 trillion is hoarded by Nigerians involved

January 30, 2023

Governor of Nigerias Central Bank Godwin Emefiele

Business

If Banks Give You Old Naira Notes, Reject Them – CBN Says, Issues New Warning

The Deputy Director, of Currency Operations at the Central Bank of Nigeria (CBN), Rekiyat Yusuf, has urged Nigerians to reject old naira notes dispensed to them by commercial banks. Yusuf gave the advice on Thursday during a new naira notes presentation in selected

January 20, 2023

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Naira

Naira, Ghana Cedis, Egyptian Pounds Rated Worst Performing Currencies

Naira Rebound Leads To Nationwide Drop In Rice Prices

Nigeria’s Naira Strains As Wheat Imports Rise: A Call For Local Production

Nigeria’s Foreign Reserves Hit Six-Year Low At $32.87bn As Naira Struggles

CBN’s Old, New Naira Notes To Co-exist Indefinitely – Supreme Court Rules

NLC Blames Govt Officials For Forex Crisis, Demands Urgent Stabilisation Of Naira

Nigerians Rush For Dollar, Push UP USD Rate Amid Naira Scarcity

CPPE’s Muda Yusuf Tackles CBN’s Emefiele Over Naira In Circulation Claim

CBN’s Emefiele Says Old Naira Deadline Forcing Hoarders To Deposit Funds

If Banks Give You Old Naira Notes, Reject Them – CBN Says, Issues New Warning

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