Naira

The Central Bank of Nigeria (CBN) governor Yemi Cardoso says the apex bank’s FX reforms have made the naira the best-performing currency globally. Nigeria’s currency lost massively against major currencies in the past few months.…

The House of Representatives had their minds blown this Tuesday as CBN Governor Yemi Cardoso unleashed a financial truth bomb. Turns out, Nigerians have been ballin' a bit too hard... on education and healthcare abroad, that is!…

Former President Muhammadu Buhari has denied the claim that his administration “deliberately” used the naira redesign policy to punish Nigerians. He stated that rather, the policy helped to ease the 2023 general elections, thereby…

Nigerians on social media expressed a mix of frustration and skepticism in response to the Central Bank of Nigeria's (CBN) call for public participation in a survey aimed at assessing the availability of Naira notes across the country.…

The Central Bank of Nigeria (CBN) has warned Nigerians to be wary of counterfeit naira notes in circulation amid reports of currency shortage in the country. In a statement released on Friday titled ‘Beware of Counterfeit Naira…

The Central Bank of Nigeria has directed all banks branches to issue and accept all denominations of Naira banknotes, old and re-designed. The Acting Director, Corporate Communications, Ali Hakama, disclosed conveyed the directive in…

Old and new naira notes will coexist as legal tender until further notice, according to a ruling by the Supreme Court. The timeframe for phase-out of old naira notes was extended by the Supreme Court in March 2023 to December 31,…

The federal government has filed an application before the supreme court seeking an extension for old naira notes to remain in circulation. In March 2023, the supreme court had extended the deadline to phase out the old naira notes…

The Presidency has cautioned Nigerians who are hoarding foreign currencies to stop forthwith, warning that the policies of the government would shock them. The Special Adviser to the President on Economic Matters, Dr Tope Fasua,…

The Central Bank of Nigeria (CBN) on Tuesday denied claims that it plans to redenominate the country’s currency – Naira – with effect from January 2024. This was disclosed in a statement by the CBN’s Director of Corporate…

Nigerians and investors have been reassured by President Bola Tinubu that there is an ongoing initiative to increase the nation's foreign exchange liquidity. The country was expecting inflows of roughly $10 billion in the near…

The Nigerian Central Bank (CBN) has refuted the assertion that it has devalued the naira. Contrary to claims, the dollar traded at N465 to the dollar, according to a statement from Isah AbdulMumin, Acting Director of Corporate…

The Central Bank of Nigeria (CBN) has dismissed reports that it is considering the withdrawal of the redesigned N200, N500 and N1,000 Naira notes from circulation. Read Also: Ohanaeze Vows To Secure Nnamdi Kanu’s Release In a…

Chris Ngige, the minister of labor and employment, and Godwin Emefiele, the governor of the Central Bank of Nigeria (CBN), met with the NLC leadership on Monday in an effort to prevent a national strike by the NLC. The NLC leadership…

The Nigeria Labour Congress (NLC) has announced a nationwide strike action amongst public workers due to the ongoing Naira crunch. President of the NLC, Joe Ajaero, on Wednesday, directed public sector workers in the country to…