Naira redesign: ‘Those with illicit money buried under soil will have problem’ – Buhari backs CBN

By Seun Opejobi President Muhammadu Buhari, on Sunday, backed the decision of the Central Bank of Nigeria, CBN, to launch new designs of the naira denominations. Buhari said Nigerians with illicit money stashed in the soil would have problems with the new naira notes. He, however, assured that Nigerians would gain a lot when the […]

Naira drops to a new low against the US dollar

By Davies Ngere Ify The Nigerian naira has dropped to a new low against the US dollar in the black and peer-to-peer (P2P) forex markets. The Naira to dollar exchange rate closed at N724/$1 on Friday, down from N721/$1 the previous day, indicating a N3 or 0.42 percent day-on-day decline on the P2P market. On […]

Naira loses to dollar by 0.13%

The Naira depreciated against the dollar at the Investors and Exporters window on Thursday, exchanging at N430. The figure represents a further depreciation of 0.13 per cent when compared with N429.44 for which the dollar exchanged on Wednesday. The open indicative rate closed at N429 to the dollar on Thursday. An exchange rate of N437 […]

Again, naira crosses N700/$ mark at parallel market

The figure represents N10 or 1.4 percent depreciation compared to the N692 it traded last week. Bureaux De Change (BDC) operators in Lagos and Abuja, who spoke to TheCable, said that there is high demand for foreign currency in the street market. The street traders, popularly known as ‘abokis‘ put the buying price of the […]

Naira depreciates marginally to dollar

By Caleb Ijioma The Naira on Monday depreciated marginally against the dollar at the Investors and Exporters window, exchanging at N429.43. The figure represented a decrease of 0.09 percent, against N429. 05 at the close of business on Aug. 19. The open indicative rate closed at N429.07 to the dollar on Monday. An exchange rate […]

eNaira to be USSD enabled from next week

From next week, Nigerians will be able to open an eNaira wallet and conduct transactions by simply using a designated USSD code on any phone. To carry out these transactions, Nigerians will only have to dail *997 from their phones. Central Bank of Nigeria (CBN) Governor Godwin Emefiele stated these at the Grand Finale of […]

Naira crumbles again to Dollar

By Davies Ngere Ify The Naira exchanged for N430.67 against the dollar on Tuesday at the Investors and Exporters window. Comparing the figure to the N430 it exchanged for the dollar on Monday, it showed a decrease of 0.16 percent. The open indicative rate closed at N429.88 to the dollar on Tuesday. An exchange rate […]

Naira loses big against dollar

Naira loses big against dollar By Lydia Ngwakwe The Naira on Wednesday lost to the green back at the Investors and Exporters window, exchanging at 424.88 to the dollar against 421.00 traded on Tuesday. This represents a 0.80 per cent depreciation. The open indicative rate closed at N421.80 to the dollar on Wednesday. An exchange […]

Naira crashes to dollar again

Naira crashes to dollar again Naira and Dollars By Lydia Ngwakwe After appreciating for two days, the Naira on Thursday dipped against the dollar by 0. 21 per cent at the Investors and Exporters window. The local currency exchanged at 418.88 to the dollar, compared to 418 traded on Wednesday. The open indicative rate closed […]

Naira notes will be out of circulation soon – CBN

By afolabi The Central Bank of Nigeria CBN has said that the country will be faced with dearth of paper currency soon. This as the apex bank intensifies effort in the area of digital currency inclusion. The Delta State Branch Controller of CBN, Mr Godwin Okafor, made this known while Speaking at the popular Ogbogonogo […]

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