Archives Tag: Naira
Throw Back Thursday – 45 Years After the Naira
April 19, 2022
Shortly after the dust of the Nigerian Civil War had settled, General Yakubu Gowon sought to mend ethnic suspicion caused by the civil war starting with a new national currency majorly to cut the last monetary ties with the British Protectorate. Work began earnestly on a currency system unique to Nigeria, and the Nigerian Naira … Continue reading Throw Back Thursday – 45 Years After the Naira
By adedoyin
The Naira Current Value in the Market
April 19, 2022
The News Agency of Nigeria (NAN) reports that the Nigerian currency lost 20 kobo from N361 earlier traded before the Easter break. The naira also closed at N508 and N444 respectively against the Pound Sterling and the Euro. At the Bureau De Change (BDC) window, the naira traded at N362 to the dollar, Central Bank … Continue reading The Naira Current Value in the Market
By chidinmakalu
Red Star Boss Commends FG On Currency Swap
April 19, 2022
The Group Managing Director of Red Star, one of Nigeria’s logistics company, has commended the Federal Government of Nigeria for its currency swap policy of Naira to Yuan, pointing out that this will help boost the logistics industry, as well as other sectors of the economy. He stated this at the just concluded Institute of … Continue reading Red Star Boss Commends FG On Currency Swap
Restrictions on the Use of Naira ATM Cards for Foreign Transactions
April 19, 2022
As the foreign exchange crisis continues to bite, more banks are imposing increasingly severe restrictions on the use of Naira ATM cards. While some banks have suspended the use of Naira ATM cards for any non-local use, others have maintained varying degrees of restrictions on the use of debit and credit cards. The scarcity of … Continue reading Restrictions on the Use of Naira ATM Cards for Foreign Transactions
Nigeria’s Forex Crisis and the Businessman’s Headaches
April 19, 2022
What has the naira-dollar exchange rate got to do with a bowl garri?
Can Sports Help Strengthen the Naira?
April 19, 2022
Nigeria’s economy greatly depends on crude oil production. It is common knowledge that the international market price of crude oil has been dwindling since last year. As a result, people from all walks of life have called on the Nigerian Government to diversify our economy. Many highlighted the need for the labour force to return … Continue reading Can Sports Help Strengthen the Naira?
By arinzeude
JP Morgan Vs Naija
April 19, 2022
I’m in torn about JP Morgan’s decision to remove Nigeria from its Government Bond Index. The selfish part of me is naturally concerned about the negative impact it will have on business and my pocket. After all, the long line of foreign investors heading towards the nearest “Exit Nigeria” door is an inevitable consequence. And … Continue reading JP Morgan Vs Naija
By guestwriter
CBN Officially Prohibits Acceptance of Foreign Currency by Banks
April 19, 2022
The Central Bank of Nigeria published a public circular yesterday, Wednesday, August 5th, stating that all banks have been prohibited from accepting foreign cash deposits henceforth. It stated, “The Central Bank hereby prohibits from the date of this circular the acceptance of foreign cash deposits by Deposit Money Banks.” This was in line with the Banks’ … Continue reading CBN Officially Prohibits Acceptance of Foreign Currency by Banks
By ify
Naira to Rise Further as Banks Reject Dollars
April 19, 2022
The United States’ dollar will fall against the naira at the parallel market this week as banks across the country continue to reject cash deposits of foreign currencies into customers’ domiciliary accounts. The naira had appreciated against the dollar from 245 to 220 at the parallel market last week after banks started implementing the new … Continue reading Naira to Rise Further as Banks Reject Dollars
By ejura
Discover Nigeria: January In Nigerian History
April 19, 2022
By Nehi Igbinijesu The month of January in Nigeria’s history has often been characterized by policy shifts, political upheaval and the founding of institutions. Here are six events that occurred in January in Nigeria; 1. The Naira became Nigeria’s currency On January 1, 1973, Nigeria officially changed its currency from the Nigerian Pound to … Continue reading Discover Nigeria: January In Nigerian History
By jehonwa
Lamido Sanusi Confirms, CBN To Introduce N5000 Note.
April 19, 2022
A few months ago there had been rumours about the introduction of a new naira note and how the Late Biafran Leader, Ojukwu, was going to be the focus of the note.
