Last year, the Central Bank of Nigeria (CBN), through its Governor, Godwin Emefiele, announced the redesigning of the naira. The Governor, however, gave an initial deadline of January 31st 2023 for the phase out of the old note. The deadline…
A financial inclusion/wealth management expert, CEO of SD&D Capital Management Limited, Mr Idakolo Gabriel Gbolade, said the Naira crisis should not have reached an unbearable height before the government’s intervention. Idakolo disclosed this on Monday as reactions continued to trail…
Cashless transactions fell to N37.67trillion in February 2023 as Nigerians had to grapple with failed and delayed cash transfers. This was a 4.83 per cent fall from the N39.58 trillion that was recorded in January according to new data from…
Church tithes and offerings have continued to diminish following the scarcity of new notes and the inability to transfer money from banks due to network problem. Some churches in Kaduna have seen tithes and offering figures drop as members lament…
The Naira gained further on Thursday as it exchanged at N461 to the dollar at the Investors and Exporters window. The rate represented an increase of 0.05 per cent, compared to the N461.25 for which it exchanged to the dollar…
The exchange rate between naira and U.S. dollar depreciated at the black market on Wednesday to trade at an average of N750/$1, representing a marginal drop of 0.27 per cent from N748/$1 that was recorded in the previous trading session.…
Naira ex- changed at N461.75 to the dollar at the Investors and Exporters window on Friday. The rate represented a further depreciation by 0.08 per cent, compared with the N461.40 which it exchanged to the dollar on Thursday. The open…
President Muhammadu Buhari has apologized to Nigerians over the naira redesign policy. According to him, it wasn’t introduced to cause hardship, but to boost the economy. In October 2022, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele,…
By Olumide David In early trading on Wednesday, Nigeria’s equities market saw its first decline in weeks while the local currency (Naira) appreciated against the US dollar by 1.32 per cent following announcement of Bola Ahmed Tinubu as Nigeria’s President…
By Olumide David The naira currency fell by 0.18 percent against the dollar as the foreign exchange recorded low liquidity. After trading on Monday, the naira/dollar exchange rate closed at N462/1$ as against N461.17/1$ closed on Friday at the Investors…
