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Currency
Nigerian Central Bank to Rename Official Forex Market as Nigerian Foreign Exchange…
The acting Governor of the Central Bank of Nigeria (CBN), Folashodun Shonubi, announced that the official foreign…
Ghana’s Inflation Reaches Four-Month High Amid Rising Food Costs
Ghana's inflation rate surged to 43.1% in July, marking the highest level in four months. The increase was…
Naira Hits Record Low of N900/$1 on Parallel Market
The Nigerian naira has reached a record low of N900 against the US dollar on the parallel market, driven by a…
Dollar Deposits in Kenyan Banks Reach New All-Time High as Shilling Depreciates
The value of dollar deposits in Kenyan commercial banks has reached a record high of Sh1.185 trillion by the end…
Save Nigeria Movement Demands N2 Trillion Compensation for Consequences of Naira…
The Save Nigeria Movement (SNM) has called on the Central Bank of Nigeria (CBN) to compensate Nigerians with the…
Nigerian Naira Continues Downward Trend Against Dollar, Central Bank Faces…
The Nigerian naira maintained its depreciating trend against the dollar, reaching 876/$ at the parallel market on…
Nigerian Naira Appreciates Against Dollar in Forex Window
On Wednesday, the Nigerian naira appreciated against the US dollar on the Investor & Exporter forex window,…
UK Adds Naira to “Pre-Approved Currencies” for Financing Nigerian…
The United Kingdom (UK) will include the Nigerian naira in its list of "pre-approved currencies" for financing…
Nigerian Naira Faces Volatility Amidst Exchange Rate Fluctuations
The official exchange rate of the Nigerian Naira improved from N803.9 per dollar, but at N820/$1, the parallel…
Currency in Circulation Jumps to N2.53tn – CBN.
According to the Central Bank of Nigeria (CBN), currency in circulation in the country increased by 157.27 percent…
Convergence of Currency Rates through FX Reforms.
Within one week of their implementation, the current FX reforms at the Central Bank of Nigeria (CBN) led to a…
Dollar Trades at A Discount Against Naira in Black Market.
The naira is trading higher on the black market for the first time since 2015, exactly one week after the Central…
At the Official Market, Naira Drops to 770.38/$.
After ending Monday's trading in the investor & exporter FX market at 770.38/$, the naira fell even further…
Naira Drops to 702/$, With a Potential New FX Supply from CBN.
The Central Bank of Nigeria has permitted a free float of the naira against the dollar and other world currencies,…
The central bank of Nigeria permits the naira to fall 2% to a historic low.
On Wednesday, the naira was permitted to reach a record low on the official market by around 2%, although the rate…
CBN: Currency in Circulation Rises by 71% to N1.6tn.
After the Central Bank of Nigeria changed its stance on the redesign of the naira, the amount of currency in…
Banks are being Investigated for Dollar Price Fixing.
The Competition Authority of Kenya (CAK) is looking into several unnamed banks over allegations that they fixed…
Bitcoin Surpasses $30,000 as Speculators Anticipate an End to Rate Increases.
As investors increased their bets that the U.S. Federal Reserve will soon halt its aggressive monetary tightening…
Banks Reimburse Consumers with Soiled, Damaged Notes, Easing the Cash Shortage.
This comes after numerous commercial banks over the weekend paid consumers with naira notes in person and through…
Reps Inform CBN that Banks Should Update their E-banking Platforms.
The Nigerian Central Bank has been urged by the House of Representatives to order banks to urgently update their…
Naira Scarcity Gets Worse As MPC Raises Interest Rate to 18%
The scarcity of Naira notes has continued to bite harder on Nigerians despite the Central Bank of Nigeria (CBN)…
Currently Circulating Currency now N982bn – CBN
As a result of the Central Bank of Nigeria's naira redesign strategy, the amount of currency in circulation in the…
Naira Redesign Has Two Issues: Moghalu
Kingsley Moghalu, a former deputy governor of the Central Bank of Nigeria, has voiced his displeasure with the…
Cheque Transactions Down to N482.5bn in Two Months Low Naira Supply
The total value of cheque transactions fell to N482.5 billion in the first two months of 2023, a decrease of 2.9%…
Emefiele Eventually Gives in to Pressure and Declares Old Naira Notes to be Legal…
Godwin Emefiele, the governor of the Central Bank of Nigeria, succumbed to pressure on Monday and formally ordered…
Commuters Face Hard Times as Old Notes Rejection Continues
During the weekend, a number of bank clients, employees, and commuters were left stranded in different regions of…
Banks Ration Cash As Gas Stations And Others Refuse Old Naira.
The latest initiative by several Deposit Money Banks to re-circulate old N500 and N1,000 notes suffered a setback…
Supreme Court Order On Old Notes: Banks In Partial Compliance.
Deposit cash The Supreme Court's ruling authorizing the use of old N1,000, N500, and N200 notes as legal money for…
The APC And Bank CEOs Work Quickly To Fix The Naira Crisis.
In a last-ditch effort to resolve the lingering cash crisis that has thrown the entire country into turmoil,…
President Buhari Grants a 60-day Extension to Turn in Outdated Currency.
President Muhammadu Buhari of Nigeria granted the go-ahead for the central bank to add another 60 days to the…