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The Central Bank of Nigeria resumed selling US dollars to money changers to address the falling value of the naira. This decision came after the naira-to-dollar exchange rate dropped 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…
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…
Following the latest meeting of the monetary policy committee, the Central Bank of Nigeria says it has hiked the monetary policy rate to 15.5%. By increasing the key interest rate…
A Nigerian presidential election candidate, Peter Obi, has said the local currency’s exchange rate against the dollar must not be fixed but must be determined “by the forces of demand…
The Central Bank of Nigeria should be discontinuing the fixed exchange rate system and let the naira freely float against the major currencies, Alhaji Aminu Gwadabe, the leader of a…
The Central Bank of Nigeria (CBN)’s attempt to incentivize the country’s forex market through the so-called “Naira for Dollar” scheme has failed. This is evidenced by the local currency’s plunge…
The Nigerian presidency has denied reports that the country’s Vice President (VP), Yemi Osinbajo, was calling for the devaluation of the local currency when he recently questioned the naira’s official…
Nigerian Vice President Yemi Osinbajo recently warned that the country’s official naira exchange rate of N411 for every dollar is artificially low. This exchange rate, according to Osinbajo, discourages foreign…
Nigerian lawmaker Ibrahim Obanikoro has called on Nigerian authorities to “close all domiciliary accounts for the next 12 months.” Such a move, he argues, will help to ease pressure on…