Naira

President Muhammadu Buhari has pleaded for more patience from Nigerians amid the hardship and turmoil that have followed the central bank's new currency policy. Buhari, who claimed to be well aware of the difficulties, maintained…

The Central Bank of Nigeria (CBN) has finally extended the deadline for the exchange of old naira notes by 10 days. In a press statement issued on Sunday, Godwin Emefiele, the CBN governor, said the new deadline is February 10, 2023.…

The Senate has urged the Central Bank of Nigeria to swiftly push back the deadline for obsolete Naira notes to be withdrawn from circulation from January 31 to June 30, 2023. Sen. Mohammed Ndume (APC-Borno) raised a point of order at…

The Central Bank of Nigeria (CBN) on Wednesday bowed to pressure from many Nigerians and lawmakers as it announced an upward review of its cash withdrawal limits directive. Individuals can now withdraw N500,000 cash weekly and…

New cash withdrawal restrictions have been set by the Central Bank of Nigeria (CBN) and they go into effect on January 9, 2023. Individuals will only be permitted to withdraw N100,000 per week (from ATMs, Point of Sale machines, or…

The Central Bank of Nigeria (CBN) has instructed commercial banks in the country to work on Saturdays till January 31, 2023, to enable bank customers to return old naira notes for new ones. The CBN had announced plans to redesign,…

Prof. Kingsley Moghalu, a former Deputy Governor of the Central Bank of Nigeria (CBN) has commended the apex bank on the proposed redesigning of the Naira. Moghalu, a Nigerian Political Economist who gave the commendation in a…

The Senate on Wednesday, July 27, at plenary resolved to invite the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, to educate and inform senators in a closed session on the reasons for the rapid depreciation of the…

The Central Bank of Nigeria (CBN) has devalued the Naira exchange rate on the Investors and Exporters’ (I&E) window from the N366.7 to N380.20 to a dollar.  This is as a result of the drastic drop in crude oil price to below $30 per…

The naira has been firming up in the last few days as politicians pumped stockpiled dollars into the economy for campaigns, The Nationhas learnt. The naira, which exchanging at N361 to dollar early last week, firmed at N357 in the…

Central bank conducts first auction of renminbi on Friday Nigeria signed $2.4 billion currency swap with China in May The Central Bank of Nigeria sold yuan for the first time as it looks to boost commerce between China and…

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The Central Bank of Nigeria (CBN) has warned that the economy faces inflation and financial stability risks over the short-to medium-term if expected huge election spending is not checked. CBN Deputy Governor (Corporate Services)…

The Central Bank of Nigeria, in a bid to address the acute shortage of lower denomination currencies, on Tuesday commenced an exercise aimed at flooding the market with N100, N50, N20, N10 and N5 notes. The apex bank, however, warned…