Naira Gains Despite 32% Drop in FX Market Turnover
Nigeria's foreign exchange market turnover declined by 32.28% in December 2024, falling to $9.74bn from $14.39bn in November. The decline was attributed to ongoing foreign exchange market reforms and broader…
Naira Redesign: Elements Working to Halt Deadline Extension— Ganduje
Kano State Governor, Abdullahi Ganduje has accused the Central Bank of Nigeria of working with certain elements to stop the possible extension of the February 10 deadline for the validity…
BREAKING: CBN Orders Banks to Accept Old N500, N1000 Notes
The Central Bank of Nigeria has ordered commercial banks to resumption the collection of old N500 and N1,000 notes from the public. Pegging the maximum amount the banks can collect…
Why Nigerians Should Dump Their Dollars Immediately – Tinubu’s Aide
The Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga has issued a warning that the naira is set to appreciate, adding that speculators will lose if…
Naira Gains Against Dollar in Parallel Market Amid CBN Reforms
The Nigerian naira has gained against the US dollar in the parallel market, trading at an average rate of N1,515 on Wednesday. The naira's recovery is attributed to the Central…
ICPC Arrests Bank Managers For Hoarding N258m New Notes
Operatives of the Independent Corrupt Practices and Other Related Offences Commission says it has arrested the manager of Sterling Bank in Abuja. The anti-graft agency said it uncovered two hundred…
Bank Attacks Equal To Armed Robbery—Police
The Nigeria Police Force has warned that it will treat any citizen caught attacking banks in protest against cash scarcity as armed robbers. Force Spokesman Olumuyiwa Adejobi said this in…
‘I Used Abidoshaker To Bring Down Dollar’ – Prophet Odumeje
Prophet Chukwuemeka Ohanemere, popularly known as Odumeje has attributed the reduction in the dollar exchange rate to his extraordinary powers. In a video captured during one of his church services,…
Naira Appreciates to N1,500 Per Dollar at Black Market
The Naira has continued to appreciate against the dollar at the parallel foreign exchange market. On Thursday, the Naira strengthened to N1,500 against the dollar in the black market, gaining…
Naira Saga: What Supreme Court Judgment Means
The Supreme Court on Wednesday ordered a temporal suspension of the February 10 deadline for the swap of old naira notes with new ones given by the Central Bank of…