You may spend some months or years (depending on your connection) in jail if you are caught buying US dollars with the Nigerian currency, says the apex bank of the most populous African country. The latest monetary policy became a necessity as the Naira continues to “Lu’le” (that is fall) against other global currencies while […]
You May Go To ‘Jail’ for Buying US Dollar with Naira Read More »
As the 2023 presidential election becomes intense by the hours, it is clear that the political audacity of the governor of the Central Bank of Nigeria (CBN) Godwin Emefiele will cause more havoc to Nigeria’s monetary system. The CBN governor is more interested in succeeding Muhammadu Buhari than focusing on its primary role of stabilising
USD/NGN Exchange Rate May 9, 2022 Read More »
The naira is a legal tender of Nigeria. It uses ₦ (sign) and NGN (code). The Nigerian currency is in coins and banknotes. But the coins have died a natural death due to high inflation making them lose their total value and relevance in the economy. Naira Design On November 23, 2022, NGN200, NGN500, and NGN1,000 get a new design, which
History of Naira (Nigerian Currency) Read More »
As the domino effect at the foreign exchange market which is spearheaded by “Lieutenant-General” Godwin Emefiele continues, the apex bank says its boss would not resign. Emefiele, a former Finance and Insurance lecturer and also an ex-GMD of Zenith Bank, has been at the centre of forex controversy following the humiliating value of the naira
Emefiele Will Not Resign, CBN Fires Back At Critics Read More »
Governor of Nigeria’s apex bank Godwin Emefiele has said that the parallel market is shallow and illegal, patronise by those who engage in illicit transactions and for “corruption purposes” He stated this at the end of the last 2020 Monetary Policy Committee (MPC) meeting, in Abuja. He said it is unfair to use the parallel market rate
Parallel Market Is Shallow Godwin Emefiele Read More »
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