The Central Bank of Nigeria (CBN) has insisted that the naira will stabilise as investors’ confidence improves. The CBN Governor, Yemi Cardoso, stated this in Abuja yesterday during his address to the Monetary Policy Forum (MPF) with external stakeholders.

Gradually but steadily, the buying and selling of the naira (banknotes), also known as commoditisation, is fast becoming a ‘major’ business, but constituting an affront to the effectiveness of the monetary policies of the Central Bank of Nigeria (CBN).

The Bill on the prohibition of foreign currency for “localised” transactions which is now before the National Assembly and has passed the first reading brings to the front burner the poor knowledge of existing laws by the honourable lawmakers.

A report has shown that the naira depreciated by 40.9% per dollar in 2024 after ending the year at N1,535 to the United States (US) currency. "The exchange rate between the naira and the US dollar closed at N1,535/$1 by the end of 2024, representing a 40.9% depreciation over the year," News Central TV wrote…

The Central Bank of Nigeria (CBN) has recently issued a stern warning to financial institutions, vowing severe penalties for any involvement in the illegal trade of freshly minted naira notes.

Nigeria, Africa’s most populous country, and the world’s seventh largest oil producer is in the grip of an unprecedented hunger crisis.

The subject of hunger cannot but enter the lens of this column today – for hunger is a burning issue and subject that is part of Nigeria’s cultural studies currently that experts in the field and discipline cannot but give attention to at this point in time.

Barely two weeks to the end of the year, Nigeria’s hope of achieving 95 per cent financial inclusion by December may not be realised as emerging socio-economic challenges, including escalating digital fraud, rising mistrust and deepening poverty slow the process.

The aggressive monetary and fiscal measures taken to check headline inflation appear to be slow in taming inflation as the consumer price index rose to 34.6 per cent in November, setting a new multi-decade high and suggesting that the war against price crisis is far from being won.

Naira continues to gain on strength, trading for N1,535 to the dollar, up from below N1,700, which it traded before the commencement of the new trading platform introduced by the Central Bank of Nigeria (CBN).

Despite the announcement of an interest rate hike by the Central Bank of Nigeria (CBN) on Tuesday, the naira appreciated to N1, 659.44 against the US dollar. Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed a N16.88 gain against the dollar from the N1, 675.62 it traded at on Monday. A look at…

In the 3rd quarter of 2021, the naira crossed five hundred to the dollar, and Emefiele confirmed he had lost it by challenging speculators to join him in a fisticuff to defend the naira. On seeing this, this writer, in an article titled: ‘Stop Borrowing Dollars Borrow Sense’, predicted a dollar changing for N1,000 within…