by Bolarinwa Durojaiye We all know that the Central Bank of Nigeria needs to float the Naira. Hopes that this had been done in mid-2016 when the CBN announced the introduction of the ‘automatic adjustment mechanism of the exchange rate’ in a flexible foreign exchange regime were soon dashed when it became obvious that there... Read More

Opinion

CBN, devaluation, Emefiele, Forex, naira, nigeria, recession

December 31, 2016

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My stance against devaluation in 1984 led to my overthrow – Buhari

President Muhammadu Buhari says his decision to kick against the devaluation of the Naira in 1984 led to his ouster from office, The Cable reports. Buhari said this in Abuja on Friday night at the 2016 regimental dinner organised by the presidential brigade of guards. Speaking at the event, Buhari said, “I have resisted the devaluation of... Read More

The News Blog

Coup, devaluation, IMF, naira, President Muhammadu Buhari, World Bank

October 29, 2016

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Opinion: Nigerians killed the naira, only nigerians can revive the naira

by Victor Terhemba. While at Murtala Muhammed International Airport, I over heard a Bureau de change “Mallam” telling a prospective customer that $100 equals to N 46,000. Just then reality really hit me. I could still remember like it was yesterday when my mum would send me $100 as monthly pocket money and it... Read More

Bata, Buhari, devaluation, economy, importation, Naira vs Dollar, nigeria, Op–ed pieces and contributions are the opinions of the writers only and do not represent the opinions of Y!/YNaijaortation, recession, Revenue streams, Spending culture

September 7, 2016

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Opinion: Who parallel market epp?

by Olamide Eyinla The main topic today in Nigeria is the value of the Naira. Sometime in June 2016, the Naira was floated to reflect its true value as the government ran out of resources to maintain her defence of the artificial value of the naira. Ceteris paribus, this decision would lead to the eventual... Read More

CBN, devaluation, foreign exchange, naira, Nigerian customs, parallel market

June 30, 2016

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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.

The News Blog

Currency, devaluation, float, joachim macebong, morning devotion

May 22, 2016

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Report: The CBN will not devalue the naira

The monetary policy committee (MPC) meeting of the Central Bank of Nigeria (CBN) holding on May 23-24 will not discuss the devaluation of the naira, TheCable is reporting in an ‘exclusive story’ today. “It is not going to happen. There will be no devaluation,” a senior CBN official topd the paper. The report continues: This... Read More

The News Blog

AFEM, CBN, central bank, devaluation, devalue, Forex, Interbank, naira

May 15, 2016

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‘Devaluation or not, we will invest in Nigeria’ | Dangote’s faith is unshakeable

Africa’s richest man, Aliko Dangote has urged investors in Africa to be mindful of the way they project Africa, or risk driving investors out. Dangote stated this at the ongoing World Economic Forum on Africa in Kigali, Rwanda. “We have to get rid of perception risks,” he said. “The fragility of perception drives away investors.... Read More

The News Blog

africa, cement, Dangote, devaluation, investment, Investors, nigeria

February 28, 2016

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Opinion: The unstable Naira and the role of spendthrift Nigerian governors

The naira has been on a steady decline for the past few months. The disparity between rates at the Central Bank of Nigeria (CBN) and that of the parallel market is as clear as the difference between day and night. Many economic analysts and keen followers of the economy have blamed the situation on factors... Read More

devaluation, governors, naira, NOI, state

February 28, 2016

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Oby Ezekwesili: Mr President, ideologies don’t deliver results for the poor

In this first of a three-part article, my aim is to get President Muhammadu Buhari to reevaluate his obvious discomfort with the workings of a market economy and change; so that he can effectively lead the CHANGE agenda that he promised Nigerians. The engine of wealth creation and poverty reduction is the private sector when... Read More

Featured

devaluation, economy, Forex, market, naira, nigeria, Obiageli Ezekwesili

February 20, 2016

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Why we won’t devalue the naira – Buhari

President Buhari has once again reiterated his earlier resolve not to devalue the Nigerian currency. The presidency asserted this in a statement issued on Saturday by the President’s Special Adviser on Media and Publicity, Femi Adesina. Buhari was quoted to have said this while speaking at a Presidential Panel Roundtable on Investment and Growth Opportunities... Read More

The News Blog

Buhari, devaluation, economy, naira

February 19, 2016

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Abdulsamad Rabiu: Fixing the Nigerian economy… beyond forex or naira devaluation

The Nigerian Dream, if there ever were such a notion, is facing its greatest challenge in recent times. With a less than one year old government in place with an enormous task to ensure a fair economic and social justice system which caters to all and a more equitable distribution of wealth and resources whilst... Read More

Abdulsamad Rabiu, devaluation, economy, Forex, naira

February 11, 2016

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‘Some people are manipulating the naira’ – Oshiomhole

Edo state Governor, Adams Oshiomhole, on Thursday, endorsed the Muhammadu Buhari administration’s refusal to devalue the naira, saying that the intention of government was to strengthen the economy, protect the poor and ensure that currency manipulators were forced out of business. The comrade governor stated this while delivering an address at the first edition of... Read More

The News Blog

central bank, devaluation, naira, nigeria, Oshomole

February 25, 2015

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CBN officially devalues Naira

by James Sambo The Central Bank of Nigeria (CBN), has officially devalued the Naira. The devaluation took place overnight, as the Nigerian currency will now trade at an official rate of N199 per US Dollar. More to follow on this story…

#keepnigeriaebolafree, CBN, devaluation, naira, nigeria

Opinion: Despite the recession, this is why the CBN cannot float the naira yet

My stance against devaluation in 1984 led to my overthrow – Buhari

Opinion: Nigerians killed the naira, only nigerians can revive the naira

Opinion: Who parallel market epp?

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

Report: The CBN will not devalue the naira

‘Devaluation or not, we will invest in Nigeria’ | Dangote’s faith is unshakeable

Opinion: The unstable Naira and the role of spendthrift Nigerian governors

Oby Ezekwesili: Mr President, ideologies don’t deliver results for the poor

Why we won’t devalue the naira – Buhari

Abdulsamad Rabiu: Fixing the Nigerian economy… beyond forex or naira devaluation

‘Some people are manipulating the naira’ – Oshiomhole

CBN officially devalues Naira

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