Naira abusers risk jail terms, CBN warns
The Central Bank of Nigeria (CBN) has disclosed that it is working with the Nigeria Police Force (NPF), Federal Inland Revenue Service (FIRS), Economic and Financial Crimes Commission
CBN dep. gov explains depreciation in Naira’s value
The Deputy Governor, Corporate Services Department of the Central Bank of Nigeria (CBN), Mr Edward Adamu, has attributed the depreciation in the value of the Naira to the effects of the COVID-19 pandemic on the economy.
I feel so sorry for the Naira. The constant depreciation is depressing for so many people. Naira has really suffered, as we say in the Nigerian parlance.
Naira losing strength as ex-CBN director faults new FX measures
The naira is losing its resistance against the dollar a few days after it gained some margin at the parallel market. At the weekend, the naira retreated to about N498/$ at the black market from 490/$ it sold on Thursday.
Mutual funds increase by N1.57t
Speaking on the report, the Research Team Head, Guy Czartoryski, said the report aimed at addressing the challenges in the mutual fund sector of the economy and fast track its development.
Buhari never promised to make naira equal dollar in value - Presidency
The Nigerian Government Sunday debunked claims that President Muhammadu Buhari promised he would make the naira have an equal value with the dollar. The claim is often repeated by the critics of the Buhari government to drive home arguments about him not fulfilling his campaign promises. According to publications by The Cable and Vanguard, Buhari…
Multinationals: Dollar shortage raises fear of takeover by foreigners
As manufacturers grabble with difficulties in accessing dollars to pay for imports of raw materials and machinery and as lingering foreign exchange scarcity takes its toll...
PEAC, naira exchange rate and the economy - Part 2
First, the approach has immediate through near-term to medium-term steps. Obviously, the drawn-out proposal does not show any urgency to put right the country’s economy.