Currency

Top 5 Stories Of The Day | Air Peace Opens ₦1 Million Fares for Abuja-London Heathrow Flights

October 16, 2024

Top 5 Stories Of The Day | Naira Falls to ₦1700/$ in the Black Market

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss. Naira falls to ₦1700/$ in the black market The Nigerian currency continues its downward trend as it records a new low at ₦1,700/$ in the parallel market. The report from the Bureau De Change operators... Read More

Currency, economy, exchange rate, Federal Government, Fuel Price, information, naira, National Grid, News, Politics, Top 5 stories of the day, US dollar

UNICEF Urges FG to Eradicate Cholera Before Schools Resume

Top 5 Stories Of The Day | UNICEF Urges FG to Eradicate Cholera Before Schools Resume

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss. UNICEF urges FG to eradicate cholera before schools resume The United Nations Children’s Fund (UNICEF) has alerted the Nigerian federal government of its worry about the cholera outbreak in Nigeria as it urged the government... Read More

airlines, Currency, economy, inflation, information, Kenyan Shilling, naira, News, peter obi, Politics, Top 5 stories of the day

February 21, 2017

APC youth demand Ekweremadu’s resignation

by Dolapo Adelana The All Progressives Congress, APC, Youths Renaissance has called for the resignation of Deputy Senate President, Senator Ike Ekweremadu. North Central Coordinator of the group, Hon. Abubakar Yakubu in a statement accused the Senator of inciting Nigerians against President Muhammadu Buhari for blaming the president for the fall of the Naira. He said,... Read More

APC Youth Renaissance, Currency, dollar, Forex, Hon. Abubakar Yakubu, President Muhammadu Buhari, Senator Ike Ekweremadu

October 14, 2016

Feyi Fawehinmi: Nigeria’s case study on how not to float your currency

by Feyi Fawehinmi Rumors of rate fixing. Scarcity of foreign exchange. A widening gap between the official rate and the runaway blackmarket. Nearly four months after Nigeria adopted a flexible exchange rate policy to avoid these very problems, the problems are all still here and in many ways, worse than they were before the policy... Read More

Bereau d change, CBN, Currency, economy, Foreign Reserves, nigeria, Oil industry, recession

August 25, 2016

The Nigerian Naira is the third worst performing currency globally – PDP

The Peoples Democratic Party, PDP has said that the nation’s currency, the naira is the third worst perfoming currency globally this year. In a series of tweets on its official Twitter handle, @PdpNigeria, the opposition party compared the naira to other currency of other African Nations. The graph showed that the Naira has dropped the lowest.... Read More

@PDPNigeria, Currency, economy, naira, Peoples Democratic Party

How to solve Nigeria’s current Forex scarcity, by Dolapo Oni

by Dolapo Oni Nigeria urgently needs to increase the supply of dollars in the economy, especially at the interbank market where access is really limited and customers of banks are unable to get enough dollars. Consequently, there are issues with imports of various petroleum products, food items and even services. The gap between the official... Read More

CBN, Currency, dollar, economy, Forex, forex scarcity, Godwin Emefiele, Muhammadu Buhari, naira, nigeria

Morning Devotion: A float that is not really a float yet

As the second quarter of the year comes to end, Joachim MacEbong talks about the recent currency float by the CBN. Take a listen.

Currency, devaluation, float, joachim macebong, morning devotion

November 14, 2014

Terrorism at its peak: ISIS unveil new currency (PHOTOS)

by Kolapo Olapoju Undoubtedly, the marauding insurgents of Boko Haram are watching this development with keen interest and similar aspiration. The Islamic State of Iraq and the Levant has announced plans to mint its own currency. The terrorist organization’s currency will include seven coins: two gold, three silver and two copper. According to a statement... Read More

Currency, Iraq, Isis, Islamic rule, Muslims, syria

November 5, 2014

West Africa targets 2020 as single currency date, but what’s the point?

by Tunji Andrews A new date has been set for the launch of the single currency for the Economic union of west African states. The plan which has had it’s launch date shifted several times, was initiated by the Council of Ministers and Governors of Central Banks of the West African Monetary Zone (WAMZ), was... Read More

Abel Essien, Bonaventure Adjavor, Currency, Eco, ECOWAS, money, nigeria, WAMZ

November 1, 2014

Global shocks closing in on the Naira

by Tunji Andrews Indications continue to mount that the nation’s currency, the Naira, will experience further pressure, as the liquidity position continues to worsen, especially as the nation draws close to the 2015 general elections. The nation’s liquidity is set to significantly rise as Asset Management Corporation of Nigeria (AMCON) set to inject N866 billion... Read More

Asset Management Corporation of Nigeria, central bank of Nigeria, Currency, economy, naira, Nigerian Stock Exchange, World

August 27, 2014

Opinion: 22 really simple things you didn’t know you could do with Google

by Chinedu Nnawetanma To most people, Google is nothing more than a regular search engine where you type in keywords and questions and a couple of relevant links containing answers are displayed. But to many others who are in the know, Google is much more than that. It has become a multipurpose tool that you... Read More

Chinedu George Nnawetanma, Currency, Google, rainmakers, search, uses, weather, World

October 14, 2013

Ijeoma Nwogwugwu: The problem with the Naira

by Ijeoma Nwogwugwu In defence of the measures, Sanusi said Nigeria had overtaken Russia as the largest importer of foreign currency, insisting that no country in the world pays its citizens in foreign currency for transfers into their economies. However, what Sanusi refused to voice was his concern that the demand for foreign currency by... Read More

CBN, Currency, economy, ijeoma nwogwugwu, Lamido Sanusi Lamido, naira, Russia

January 18, 2013

NOI clarifies feasibility of single currency in West Africa

Emmanuel Okubenji Finance Minister, Ngozi Okonjo-Iweala, on Friday, said that the establishment of single currency would not be achievable merely by an act of law. Okonjo-Iweala stated this in Abuja at the 31st Meeting of the convergence Council of Finance Ministers and Governor of Central Bank of West Africa. “I wish to state that a... Read More

Currency, Finance, ngozi okonjo iweala, West Africa

November 13, 2012

Open letter to the President: Security implications of Arabic inscriptions on the Naira

OPEN LETTER TO PRESIDENT GOODLUCK EBELE JONATHAN ON THE SECURITY IMPLICATION OF ARABIC INSCRIPTIONS ON NAIRA NOTES. Dr. Goodluck E. Jonathan President and Commander-In-Chief of Armed Forces Federal Republic of Nigeria State House Presidential Villa Aso Rock, Abuja. Your Excellency, Immediate necessity and ultimate concern for our national unity alerted me to write this... Read More

central bank of Nigeria, Currency, Hauusa, igbo, naira, olusegun obasanjo, President Goodluck Jonathan, Yoruba

September 21, 2012

Jonathan orders immediate stop to the planned N5,000 note, CBN bows

by Isi Esene Special adviser to the president on media and publicity, Reuben Abati on Thursday disclosed to newsmen that the president has ordered the suspension of the planned introduction of the N5,000 scheduled to come into circulation next year. According to him, the president Jonathan’s latest disposition to the issue was based on the... Read More

5000 note, Aminu Tambuwal, CBN, central bank of Nigeria, Currency, David Mark, President Jonathan, reuben abati, Sanusi Lamido Sanusi

September 13, 2012

Opinion: Soludo’s solution to restructure naira

by Vincent Bamigboye A NATION’S currency is one of its most powerful symbols. Leaders will go and leaders will come but the nation’s currency remains. The American Dollar symbolises the strength, the all-pervading power of the United States of America, to the extent that all inter-governmental and international businesses the world over are done through... Read More

CBN, Charles Soludo, Currency, economy, Lamido Sanusi, naira, Vincent Bamigboye

September 12, 2012

Sanusi defends N5,000 note policy, calls Obasanjo a ‘bad economist’

by Isi Esene The governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi, yesterday stood in defence of the apex bank’s currency review policy saying the widespread arguments against it are not based on sound economic logic. Reports say he also took on the former president, Olusegun Obasanjo, describing him as “a good... Read More

5000, CBN, central bank of Nigeria, CIBN, coins, Currency, note, olusegun obasanjo, Sanusi Lamido Sanusi

September 10, 2012

“We are honoured, very delighted, very pleased,” – Margaret Ekpo’s family changes position on N5000 note?

by Isi Esene The family of late women activist, Margaret Ekpo whose face is to be feature on the proposed N5000 note appears to have had a sudden change of heart as they are now expressing their support for the currency review announced by the Central Bank of Nigeria (CBN). While speaking on behalf of... Read More

5000, CBN, central bank of Nigeria, Currency, Funmilayo Kuti, Gambo Sawaba, Margaret Ekpo, note, Sanusi Lamido Sanusi, SLS

September 5, 2012

Opinion: So, Sanusi, what really is the big idea?

by Tolu Lawson I read through the statement by the Governor of the Central Bank of Nigeria, Mallam Lamido Sanusi, on the proposed currency restructuring. I noticed that his usual sharp clarity and persuasive effectiveness were missing when he made the announcement. And this is sad. What’s left is a number of genuine problems identified... Read More

CBN, Currency, monetary policy, Sanusi Lamido Sanusi, Tolu Lawson

September 5, 2012

Noted: FG approves CBN’s N5000 denomination

by Isi Esene The Federal Government has expressed its willingness to the support the Central Bank of Nigeria in the introduction of the contentious N5ooo note. The government’s position was made known today by the minister of Economic Planning, Dr. Shamsudeen Usman at the conclusion of the Economic Management Team meeting in Abuja. According to... Read More

5000, Abuja, coins, Currency, dino melaye, Economic Management Team, EMT, Sanusi Lamido Sanusi, Shamsudeen Usman, SLA

September 2, 2012

Thanks, but no thanks: Ekpo, Kuti families oppose CBN planned currency review

by Isi Esene The planned introduction of the new N5,000 note by the Central Bank of Nigeria (CBN) continued to receive knocks from various quarters with the latest one coming from the families of the personalities whose portraits are expected to feature on the note. At the announcement of the proposed currency review, it was... Read More

CBN, central bank of Nigeria, Currency, Edward Ekpo, Funmilayo Kuti, Margaret Ekpo, Robert Ekpo, Sanusi Lamido Sanusi, Yeni Kuti

August 28, 2012

Hold it!: Senate committee orders suspension of planned N5,000 note

by Isi Esene The Senate Committee on Banking, Currency and other Financial Institutions yesterday ordered the Central Bank of Nigeria to halt its planned altering of Nigeria’s currency structure with the introduction of the N5,000 note. The Committee chairman, Mr. Bassey Otu, expressed surprise during a media briefing saying such proposed change required a comprehensive... Read More

Bassey Otu, Cashless policy, CBN, central bank of Nigeria, Chairman, Currency, denomination, Sanusi Lamido Sanusi, senate

August 24, 2012

CBN announces planned introduction of new N5000 note

by Isi Esene The governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi, has announced the apex bank’s plan to redesign the N50 note and introduce a N5000 denomination. The governor attributed the proposed introduction of the high denomination note to “inflationary pressures”. Sanusi also announced that three denominations – N5, N10, and... Read More

Abuja, CBN, central bank of Nigeria, Currency, Funmilayo Kuti, Hajia Gambo Sawaba, Margaret Ekpo, polymer, Sanusi Lamido Sanusi

Report : CBN withdraws N150 Billion from circulation

by Lekan Olanrewaju In line with the new cashless economy policy, the Central Bank Nigeria (CBN) this weekend withdrew a total of N150.1 billion from circulation, through sale of treasury bills. According to Bloomberg, the CBN sold N42.97 billion of 91- day bills at a yield of 14.81 per cent, one basis point higher than the 14.80 per... Read More

Cashless Scheme, CBN, Currency

February 24, 2012

“3 billion currency notes printed yearly” – Nigerian Security Printing and Minting Company

The Managing Director of the Nigerian Security Printing and Minting Company has stated that three billion pieces of currency notes are printed yearly by the company. Mr Ehi Okoyomon on Thursday spoke at an e-Payment Thought Leadership Breakfast series organized by Intermarc consulting and said while a portion of this figure is kept in vaults... Read More

Cashless Scheme, CBN, Currency

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