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Use dollars for local transactions, go to jail – CBN

Posted by admin CBN (Central Bank of Nigeria), Economy, Headlines Wednesday, April 8th, 2015

CBN Governor, Mr. Godwin Emefiele The Central Bank of Nigeria on Tuesday raised concerns over the increasing use of foreign currencies as a medium of exchange in the country and warned that persons caught in the illegal act risked a six-month jail term upon conviction. The central bank said in a statement that some individuals […]

The Naira recovery at the black market

Posted by admin Economy, Headlines, Naira (Currency) Saturday, April 4th, 2015

By Udeme Clement Nigeria’s economy may experience investments inflow in 2015 as the local currency appreciates by over seven percent. The battered Naira, which sold for between 228 and 230 to a dollar at Bureau de Change (BDC) weeks to the just concluded presidential election, has appreciated to about 208 -211 to the dollar. Though […]

Nigerian Economy Remains Strong – Okonjo Iweala

Posted by admin Economy, Headlines Saturday, April 4th, 2015

How is Nigeria faring in the face of the dwindling oil prices? I will like to say one thing: there has been some attempt to make people feel that there is no hope; that this situation is so difficult; there is hopelessness. I said from the beginning when oil prices began to fall by 50%. […]