How Buhari’s ministers colluded with the IMF to ruin the naira – Falana

by Azeez Adeniyi Human rights lawyer, Femi Falana has accused Ministers in President Muhammadu Buhari’s cabinet of colluding with the International Monetary Fund to ruin the Naira. In an interview with ThisDay, Falana said the IMF and Buhari’s ministers ‘dollarised’ Nigeria’s economy. He said, “There is no doubt that the Buhari administration inherited a country... Read More

The News Blog

economy, femi falana, IMF, ministers, naira, President Muhammadu Buhari

March 14, 2017

CBN pumps fresh $195m into foreign exchange market

by Azeez Adeniyi The Central Bank of Nigeria on Tuesday released fresh $195m into the foreign exchange market. This was confirmed in a statement signed by the Acting Director of Corporate Communications Department, Isaac Okoroafor. Okoroafor in the statement said the intervention of $195m is made up of $150m for the wholesale auction and $45m... Read More

The News Blog

$195m, CBN, dollars, foreign exchange, Forex market, naira

March 4, 2017

The Big 10: These are the stories that drove conversations this week

These are the top 10 stories that drove conversations this week. Obasanjo said his generation may have failed Nigerians Former President Olusegun Obasanjo has said his generation may have failed Nigerians. While speaking at an event, Obasanjo said the present generation of leaders lack the capacity to move the country forward. Obasanjo identified bad leadership as... Read More

Featured

Andrew Yakubu, central bank of Nigeria, Chirf Justice of Nigeria, Militants, naira, Nasir el-Rufai, Nnamdi Kanu, nnpc, olusegun obasanjo, Oscars 2017, senate, south africa, Southern Kaduna, The Big 10, Walter Onnoghen, Xenophobia

March 3, 2017

The Late 5: These are the stories that drove conversations today

These are the top five stories that drove conversations today. 1. “May the fortune of Nigeria never sink like that of the PDP” – Obasanjo Former president Olusegun Obasanjo has once again said the Peoples Democratic Party (PDP) is dead. Obasanjo, who is one of the founding fathers of the party, said it is dead, sunk... Read More

Featured, The News Blog

CBN, donald trump, Jeff Sessions, naira, PDP, Politics, President Muhammadu Buhari, The Late 5, Yemi Osinbajo

March 3, 2017

The Big 5: These are the stories you should be monitoring today

These are the top five stories you should monitor today. It’ll take a miracle for Buhari to return naira to its former exchange rate – Soludo Former Governor of the Central Bank of Nigeria (CBN), Charles Soludo has said President Muhammadu Buhari inherited a ‘very bad’ economy and has made it even worse. 2. EFCC recovers... Read More

Featured

boko haram, CBN, Charles Soludo, EFCC, naira, Nigerian Army, Rashidi Ladoja, The Big 5

March 3, 2017

The YNaija Tracklist: Troops arrest Boko Haram suspect with N1.3m cash | Why naira is appreciating – CBN | More stories

From the papers this morning – a Tracklist. It’ll take a miracle for Buhari to return naira to its former exchange rate – Soludo – YNaija Troops arrest Boko Haram suspect with N1.3m cash – YNaija EFCC recovers jewellery worth millions, 50 land documents from ex-NSA – YNaija How Ladoja bribed lawmakers with 22 cars... Read More

Featured

Anyim Pius Anyim, CBN, EFCC, Jeff Sessions, naira, PDP crisis, Peace corps, Rashidi Ladoja, Yemi Osinbajo

March 3, 2017

Why naira is appreciating – CBN

by Azeez Adeniyi The Central Bank of Nigeria (CBN) has said the recent appreciation of the naira against other currencies was due to intelligent work. Acting director, corporate communications, Isaac Okorafor said this on Thursday. Okorafor dismissed the reports that illegal sales of foreign currencies at ridiculous rates was responsible for the change in forex... Read More

The News Blog

appreciating, CBN, central bank of Nigeria, dillar, exchange rate, naira

March 3, 2017

It’ll take a miracle for Buhari to return naira to its former exchange rate – Soludo

Former Governor of the Central Bank of Nigeria (CBN), Charles Soludo has said President Muhammadu Buhari inherited a ‘very bad’ economy and has made it even worse. Soludo spoke at the ‘Big Ideas Podium’, a public policy debate organised by the Afri Heritage Institution in Enugu. Soludo said it would take a miracle for the... Read More

The News Blog

bad economy, Charles Soludo, economy, exchange rate, naira, nigeria, Preaident Muhammadu Buhari

February 27, 2017

EDITORIAL: It will take a lot more than this new monetary policy to undo the damage CBN has done

After months of taking a battering at the foreign exchange markets, this past week has seen the naira appreciate against the dollar from upwards of N500 to a dollar to N440 to a dollar, and the spread between the official and parallel exchange market rates reduce significantly. This is largely due to the new policy... Read More

Cover Stories, Thinking Through

CBN, central bank of Nigeria, Emefiele, naira

February 10, 2017

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

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

January 18, 2017

FG to launch economic recovery plan in February – Osinbajo

Vice President Professor Yemi Osinbajo says the Federal Government cannot afford to float the Naira at the moment. Speaking at the World Economic Forum in Davos, Switzerland on Wednesday, Osinbajo said the government will launch its economic recovery plan in February. “We would formally launch the four-year economic recovery approved plan in mid-February,” he said. “We’ve... Read More

The News Blog

Davos, Economic recovery plan, float, Forex, naira, Professor Yemi Osinbajo, World Economic Forum

January 18, 2017

Why CBN must close naira, dollar exchange rates’ gap – Osinbajo

Vice President Yemi Osinbajo has said the Central Bank of Nigeria need to close the gaps between the official and black market exchange rate of dollar to naira. Osinbajo was quoted to have said this on Tuesday at the World Economic Forum in Davos, Switzerland. He said the Federal Government was talking with the CBN... Read More

The News Blog

CBN, CN, dollar, exchange rate, naira, Yemi Osinbajo

January 1, 2017

Pastor Adeboye predicts an end to Nigeria’s economic recession in 2017

by Azeez Adeniyi Pastor Enoch Adeboye, the general overseer of the Redeemed Christian Church of God (RCCG) has predicted an upturn in Nigeria’s fortunes in the new year. The respected clergy made this prediction during the church’s traditional cross over service which took place at the Redemption Camp in Lagos. Adeboye whose message was beamed... Read More

Featured, The News Blog

economy, Enoch Adebayo, Happy New Year, naira, New Year, nigeria, prediction, Prophecy, rccg, recession

December 31, 2016

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

December 30, 2016

Naira ranked among four worst currencies in 2016

The Bloomberg LP has ranked Nigeria’s Naira as one of the world’s four worst performing currencies in 2016. According to the ranking, the Naira lost 36.68 per cent of its spot returns for the year. Other currencies in the bottom four are the Egyptian pound, Suriname dollar and Venezuela bolivar. Some of the factors that... Read More

The News Blog

2016, currencies, naira, Worst currencies

December 13, 2016

YNaija Analysis: Like Jonathan, Buhari has become a very dangerous president

In the months prior to the 2015 general elections, the wind of ‘change’ swept through Nigeria. Almost everyone was excited at the prospect of Gen. Muhammadu Buhari (as he then was) unseating the then President Goodluck Jonathan to become president of the country. Chants of “sai baba” were not uncommon in parts of Nigeria and... Read More

Featured

depression, dollar, Forex, GDP, naira, nigeria, nysc, Orientation camp, Politics, Solomon Dalung. AECON, sticky, Supr Falcons, ynaija analysis

September 27, 2016

The Thread: The naira continues to fall and Nigerians can’t stop wailing

It’s mostly doom and gloom in Nigeria today. The naira has taken a further hit at the parallel market, and is currently trading at 445 to the dollar; the effect of it being that cost of goods – like math set – has risen greatly, and Nigerians are not finding any of this funny. Please... Read More

CBN, interbank versus parallel market, naira, scarcity of dollars

September 27, 2016

Manasseh Egedegbe: A word about Bitcoin

I don’t know anyone I could stay with in London. It is an expensive city, and no one goes about staying in houses with extra rooms. It will even be rude to call them up late in the middle of the night that I was coming to bunk with them the following day. Not in... Read More

bitcoin, Black market, block chain, dollars, economy, naira

September 13, 2016

Opinion: Mr. President, you must be the change we see in our country

by Banjo Damilola A friend wrote as his Personal Message on Blackberry Messenger; “If change begins with me, I would have voted myself.” I dare say nothing is personal about that message as it echoes the sentiment of majority of people about President Buhari’s #ChangeBeginsWithMe campaign. I, also, share the sentiment. No, Change does not begin... Read More

APC, Buhari, CBN, Change, economy, Job, minimum wage, naira

September 7, 2016

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

September 7, 2016

#30Days30Voices: ‘The prices of things are increasing whereby the salary is not’ | Man speaks on the present state of the Nigerian economy (WATCH)

The Minister of finance Kemi Adeosun recently said Nigeria is facing one of its worst times economic wise. With the crash in oil prices and the Naira losing its value every passing day, citizens are feeling the heat in one way or the other. However, as they say its only the wearer that knows where... Read More

#30days30voices, citizens, economy, kemi Adeosun, naira, Oil prices

September 5, 2016

Naira has fallen: The lambs remain silent

by Manasseh Egedegbe I was in the UK a few weeks ago. I bought bottled water from a store and I got a couple of coins as change. One of them was a £2 coin. And then it hit me. I stared at the coin for a couple of seconds while different kinds of thoughts... Read More

CBN, Forex, Interbank, naira, Naira versus dollar rates, Nigerian Economy, Oil prices, recession, Treasury bill

August 31, 2016

6 key observation from NBS data on the economy

by Joachim MacEbong The Nigerian Bureau of Statistic on Wednesday released a slew of new data on the economy covering GDP, inflation and unemployment figures. Here are the top 6 observations. Recession confirmed: Nigeria’s GDP shrank for the second straight quarter, confirming that the economy is in a recession. 2nd quarter GDP came in at -2.06%,... Read More

The News Blog

economy, GDP, growth, naira, NBS, nigeria, 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

The News Blog

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

August 17, 2016

‘PDP caused this hardship we are all going through’ – Oshiomhole

Edo state governor, Adams Oshiomhole, on Tuesday, blamed the Peoples Democratic Party (PDP) for the current economic difficulties of Nigeria. Speaking at the campaign rally for Godwin Obaseki, governorship candidate of the All Progressives Congress (APC), at Ikhin and Amoya, in Owan East local government area of Edo state, the Governor said that the PDP used state funds... Read More

Featured, The News Blog

APC, Edo state, Governor, naira, nigeria, Obaseki, Oshiomhole, PDP

August 14, 2016

According to the CBN governor, this is why the Naira is falling

Governor of the Central Bank of Nigeria, Godwin Emefiele, on Saturday, explained that the Naira is depreciating against the dollar because Nigeria doesn’t export anything except oil. Speaking at a career talk organised for the teenagers of Redeemed Christian Church of God (RCCG) at TEAP school, Abuja, Emefiele noted that Nigeria’s over dependence on oil led... Read More

The News Blog

CBN, dollar, economy, Emefiele, Forex, Governor, naira, nigeria

July 31, 2016

213bn,12,915… | The 5 numbers that mattered this week

12, 915 The number of ghost workers discovered on the payrolls of 23 local governments in Sokoto N218.7 million The amount recovered on behalf of companies and residents of the state in the first half of 2016 by the Lagos State Citizens Mediation Centre. N213 billion The amount lost to ghost workers in Kogi State... Read More

The News Blog

billion, data, figures, ghost service, Ghost workers, inflation, Kogi State, naira, numbers

July 21, 2016

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

July 15, 2016

Oluwatosin Olaseinde: The key things to note before entering the job market (Y! Naira&Kobo)

by Oluwatosin Olaseinde Make or Break: Your First Job Congratulations, you have completed your degree and you have been assigned a NYSC post. This is one of the most exciting times in your life as you prepare to enter the job market. In Nigeria, one is obligated to complete a year of national service in order... Read More

Jobs, kobo, market, naira, nigeria, nysc, olaseinde, tolulope, Y!

How Buhari’s ministers colluded with the IMF to ruin the naira – Falana

CBN pumps fresh $195m into foreign exchange market

The Big 10: These are the stories that drove conversations this week

The Late 5: These are the stories that drove conversations today

The Big 5: These are the stories you should be monitoring today

The YNaija Tracklist: Troops arrest Boko Haram suspect with N1.3m cash | Why naira is appreciating – CBN | More stories

Why naira is appreciating – CBN

It’ll take a miracle for Buhari to return naira to its former exchange rate – Soludo

Facebook introduces Naira payment for ads

EDITORIAL: It will take a lot more than this new monetary policy to undo the damage CBN has done

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

FG to launch economic recovery plan in February – Osinbajo

Why CBN must close naira, dollar exchange rates’ gap – Osinbajo

Pastor Adeboye predicts an end to Nigeria’s economic recession in 2017

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

Naira ranked among four worst currencies in 2016

YNaija Analysis: Like Jonathan, Buhari has become a very dangerous president

The Thread: The naira continues to fall and Nigerians can’t stop wailing

Manasseh Egedegbe: A word about Bitcoin

Opinion: Mr. President, you must be the change we see in our country

Opinion: Who parallel market epp?

#30Days30Voices: ‘The prices of things are increasing whereby the salary is not’ | Man speaks on the present state of the Nigerian economy (WATCH)

Naira has fallen: The lambs remain silent

6 key observation from NBS data on the economy

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

‘PDP caused this hardship we are all going through’ – Oshiomhole

According to the CBN governor, this is why the Naira is falling

213bn,12,915… | The 5 numbers that mattered this week

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

Oluwatosin Olaseinde: The key things to note before entering the job market (Y! Naira&Kobo)

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