The naira appreciated slightly at the Investors and Exporters window on Thursday, exchanging at 445.75 to the dollar. The rate represented a 0.21 per cent appreciation compared to the N446.67 for which it exchanged against the dollar on Wednesday. The…
The Naira remained unchanged on Wednesday, exchanging at 446.67 to the dollar at the Investors and Exporters Window. The local currency did not change from its value on Tuesday while the open indicative rate closed at N443.88 to the dollar…
By Idris Bakare The Institute of Chartered Accountants of Nigeria (ICAN) has listed issues such as impact on inflation and exchange rates, cost of designing and printing the new currency notes and the timing of the policy, as some of…
Terrorist group, the Shura Council of the Islamic State of the West African Province (ISWAP) has opted for CFAs and banned naira as a means of transaction for the illegal tax it collects from peasant farmers and fishermen. The decision…
The Central Bank of Nigeria (CBN) on Thursday said counterfeiting and hoarding were the reasons for redesigning and issuing new Naira notes. Deputy Director, Currency Operations Department, CBN, Mrs Aminu Abdulmalik said this at the Apex bank’s special day, at…
The exchange rate between the naira and the U.S. dollar moderated at the black market to N800/$1 yesterday representing a 6.43 per cent appreciation when compared to the N855/$1 recorded in the previous trading session. Meanwhile, the exchange rate still varies…
The Naira has continued to depreciate at the official and parallel markets despite the increase in foreign exchange inflows into the economy in the second quarter of 2022. The latest quarterly statistical bulletin of the Central Bank of Nigeria (CBN)…
By Idris Bakare Former Governor of the Central Bank of Nigeria (CBN) Muhammadu Sanusi II said he has been informed that the redesigned Naira notes will retain the Arabic sign on the current notes. Sanusi, a former Emir of Kano,…
Following the proposed move by the Central Bank of Nigeria, CBN, to redesign Naira notes, the Senior Pastor of Awaiting The Second Coming Of Christ Ministry, Adewale Giwa, has warned that it will set the country backwards. According to Giwa,…
In the face of rising inflation rate, the Central of Bank of Nigeria (CBN) announced the decision to redesign Naira’s higher denominations in a bid to take control of money in circulation in the country. The CBN gave deadline to phase…
