Transform ECO to ACU now!
The currency world has a government and whether we like it or not, any local currency is a mere subset or, at worst an insignificant element in a global subsets led, as at now
₦500, ₦1000 denominations most commonly counterfeited banknotes- CBN report
The Central Bank of Nigeria (CBN) on Wednesday, said that a total of 119,663 pieces of counterfeit notes with a nominal value of N98.82 million was recorded in 2018.
Handicap-the-naira exchange rate system - Part 2
The HNS instigates macroeconomic instability and precipitates national debt as it foists on the economy unbudgeted additional inflation-fuelling high fiscal deficits.
Fuel subsidy removal
Sir: Please permit me to contribute to the on-going discussion of fuel subsidy removal in the country. In the review of fuel subsidy editorial report...
‘Exchange of bad currency notes for new ones not automatic’
The Central Bank of Nigeria (CBN) has said that the replacement of burnt or damaged currency notes is not automatic. The CBN, at a two-day public sensitisation forum in Umuahia, Abia State, advised those in possession of such notes to take them to the CBN branch near them for inspection and replacement, if approved. The…
CBN gives banks three months to withdraw mutilated notes
The Central Bank of Nigeria (CBN), has opened a three-month window from June 3 to September 2, for customers across the country to replace their mutilated naira notes with new ones across all banks. The new order is as a result of its resolve to finally replace mutilated, old naira notes in Nigeria, after…
CBN deplores mishandling of naira, arrests abusers
The Central Bank of Nigeria (CBN) has decried the mishandling of the nation’s currency, adding that it had commenced the arrest of the abusers.
CBN signals end to official rate regime for naira
The Central Bank of Nigeria (CBN) may soon allow the naira to freely find its value, with a possible depreciation on the official rate, usually pegged at about N305/$, an update on its website has indicated. The development is signaling an end to the most criticised foreign exchange rate window, which has been used mostly…
Priscilia Eleje: Salute to the First Lady of currency
Guardian Woman celebrates Mrs Priscilla Ekwueme Eleje, the first woman to append her signature on Nigeria’s banknotes, as she is appointed the Director of Currency and Operations of the Central Bank of Nigeria
How to be successful trading at global markets
While trading in the global market space requires skills and strategic decision, it also follows that the more risk one is willing to take, the greater the potential reward. However, many inexperienced traders have taken this too far and it has been their downfall. Of course, risk management is a key factor in becoming a…
Can Nigeria float the Naira now?
The cacophony of jargons, mantras, singsongs and mere slogans that formed the electioneering messages of political parties in the build-up to the 2019 general elections in Nigeria, were anything but enlightening and informative. In not a few cases, in fulfilment of all righteousness, obviously ill-digested policy materials, especially as regards the economy, were hastily churned…