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Naira notes Redesign’ll Control inflation in Nigeria — Don

Mr Suleiman Lawal, a Lecturer at the Economics Department, Umaru Musa Yar’adua University, Katsina (UMYU), said the Naira notes redesign policy would assist in curbing inflation in the country. Lawal made the assertion in an interview with the News Agency of Nigeria (NAN) on Monday in Katsina. It would be recalled that President Muhammadu Buhari […]

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Currency News

Russia Now Fourth Largest Forex Reserve Holder

Russia has risen to fourth place among the world’s largest economies in terms of foreign exchange reserves, RIA Novosti calculations published on Saturday show. In the first nine months of the year, Russia’s holdings, including those frozen by the West due to Ukraine-related sanctions, rose to $540 billion, Central Bank data shows. This allowed Russia […]

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Currency News

New Naira Notes: CBN, EFCC, ICPC To Track Large Withdrawals

The Governor of the Central Bank of Nigeria, Godwin Emefiele has disclosed that it would work with law enforcement agencies like the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to track large withdrawals. He said this while briefing the press after the launch of the […]

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Currency News

We’ll Make Withdrawal of Huge Cash Unattractive to Promote Cashless Economy – Emefiele

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, says with the introduction of the redesigned Naira notes, no individual or organization will be allowed to withdraw huge cash without being interrogated from relevant anti-corruption agencies. Emefiele stated this when he fielded questions from State House correspondents on Wednesday in Abuja. President Muhammadu Buhari […]

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Currency News

Buhari Unveils Newly Redesigned Naira Notes At FEC Meeting

President Muhammadu Buhari has unveiled the re-designed Naira notes. President Buhari unveiled the redesigned Naira notes at the Federal Executive Council (FEC) meeting today, Wednesday, November 23, 2022. At a briefing after the ceremony before the Federal executive council meeting, the CBN governor Gowin Emefiele debunked insinuations that the early unveiling of new notes is […]

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Currency News

Buhari to Unveil New Naira Notes Tomorrow – Emefiele

  Godwin Emefiele, the Governor of the Central Bank has confirmed that President Muhammadu Buhari will unveil the designed Naira notes tomorrow Wednesday, November 23, 2022.   Emefiele announced this during the Central Bank’s Monetary Policy Committee monthly meeting in Abuja.   Recall that Emefiele had announced in October that the apex bank would issue […]

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Currency News

Bawa, EFCC Chairman Says Naira Redesign May Crash Dollar To N200

Abdulrasheed Bawa, Chairman of the Economic and Financial Crimes Commission (EFCC), says the dollar may crash to N200 after the redesign of naira notes. Bawa said this in an interview with the Hausa service of Deutsche Welle (DW) on Wednesday. It would be recalled that on October 26, Godwin Emefiele, Governor of the Central Bank […]

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Currency News

Re: Amid Heated Debate, Senate Gives CBN Go-Ahead On Naira Redesign

The Senate has resolved to provide legislative support to the Central Bank of Nigeria (CBN) for the redesign of the N1,000, N500 and N200 naira notes. The upper chamber made this resolution after a heated debate on a motion moved by Senator Uba Sani on CBN’s policy to redesign the three-naira notes. Majority of Senators […]

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Business Currency

Withdrawals and deposits into Binance now acceptable in naira

Binance, the world’s biggest cryptocurrency exchange firm, announced on Monday, November 7, 2022, that it now allows naira deposits and withdrawals. To this end, Nigerian traders can now deposit and withdraw the local currency from their Binance Wallets. A brief statement by the company explained that the decision to add a fiat gateway for the […]

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Currency News

Naira Actually Among Worst in World- Bloomberg

  Nigerian currency has fallen 37% against the dollar this year Spread between two main exchange rates now more than 90 Officially, Nigeria’s naira is doing pretty well this year, down just 4% against a strong US dollar, ahead of the Canadian dollar and the Swiss franc. But that exchange rate is used only by […]

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