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The Central Bank of Nigeria governor, Godwin Emefiele, has said the newly designed naira banknotes are set to enhance the effectiveness of the organization’s monetary policy and bolster the financial…
Despite the Central Bank of Nigeria (CBN)’s Feb. 5, 2021 directive that instructed banks to block crypto entities from the financial system, the demand and use of cryptocurrencies have continued…
According to the International Monetary Fund (IMF)’s mission concluding statement, Nigeria’s rising inflation rate as well as the continuing shortage of foreign currency are fueling the naira devaluation speculations. To…
The Nigerian currency appeared to accelerate its decline versus the U.S. dollar after it slipped to a new low of 900 naira for every dollar. The currency has continued to…
The Nigerian central bank was, on Oct. 29, forced to defend its controversial currency redesign plans, just a few days after they were publicly questioned by Nigerian Finance Minister Zainab…
Starting December 15, Nigerians will be using newly-designed 100, 200, 500 and 1,000-naira banknotes, the governor of the Central Bank of Nigeria (CBN) has said. The announcement has since resulted…
On October 25, Nigeria commemorated the first anniversary of the Central Bank of Nigeria’s e-naira, even as more residents continue to snub the digital currency. In a move aimed at…
The party of the Nigerian presidential hopeful Asiwaju Bola Tinubu has promised to set up an advisory committee to review regulations that govern blockchain and virtual asset services if it…
A surge in the demand for foreign exchange and the general scarcity of the resource may be the reasons why the naira currency recently slumped to a new all-time low…
The monetary policy committee of the Kenyan central bank recently revealed it increased the central bank rate by 75 basis points from 7.5% to 8.25%. Justifying its decision to act,…