Oh No: Naira tumbles to N1,900/$ at parallel market The Nigerian naira, on Tuesday, depreciated further to N1,900 to the dollar at the parallel section of the foreign exchange (FX) market. The naira declined by 9.83 percent from the N1,730 recorded on Monday. Currency traders, also known as Bureau de Change (BDC) operators, quoted the...
“Floating the Naira without adequate supply is like building a non-gated house in a crime-infested community. You can’t float your currency without a defense mechanism and adequate supply. “We’d have revalued the currency to about N600 and managed the supply from there on. Not even in the developed world has anyone left their currency to...
Old naira notes remain legal tender – CBN The Central Bank of Nigeria (CBN) has disclosed that the old naira banknotes will remain a legal tender. In October 2022, the apex bank introduced the redesign of N200, N500 and N1,000 denominations and certain deadlines were set for the old notes of these denominations to cease...
Naira hits 1060/$ as MAN kicks at policy reversal The crises festering in Nigeria’s currency exchange market doubled down yesterday with the local currency depreciating further across all segments of the market. The market yesterday indicated that the Naira went down from N1,100 to USD1.0 mid-day in the parallel market before settling at N1,060 in...
Man Demands Refund Of Tithes From Nigerian Pastor, Paul Eneche Says He Was Brainwashed man identified as Chukwudiaso Onyema has demanded the return of his tithe from the Dunamis Church International, a church owned by Dr. Paul Enenche. The man said he had been a member of the church since 2008 and an active member...
Man Forcefully Went To Sleep For Not Been Able To Buy Food With The Old Naira Note. With the new naira redesign not in circulation yet, this young man suffered hunger and went to sleep as a result of not been able to buy food with the old note he has on him. Watch video...
Man Shows Off The Bag Of N2 Coins He Received From The Bank Instead Of N5,000 Note. The young man fears that the country is going into extinction, as we have started spending coins again. View this post on Instagram A post shared by FG (@featuredgist)
House Of Representatives moves to arrest Emefiele; rejects CBN’s deadline extension on old naira notes House of Representatives committee on the recoloured naira notes says it will go ahead to sign an arrest warrant against Central Bank governor Godwin Emefiele. In a statement, chairman of the ad-hoc committee, Alhassan Ado Doguwa, said “the 10-day extension for...
CBN to monitor redesigned Naira compliance by commercial banks The Central Bank of Nigeria (CBN) will monitor commercial banks to ensure that they comply with the directive of loading the redesigned Naira notes in their Automated Teller Machines (ATMs). CBN Director, Currency Operations, Mr Ahmed Umar, made this known in Abuja on Monday at the...
In a bid to save Nigerians from falling victims to fake Naira notes, the apex bank of the country, the Central Bank of Nigeria (CBN), has released the security features of the redesigned Naira notes. There had been growing concerns among Nigerians about the possibility of duplicitous elements taking advantage of the situation by counterfeiting the new notes. This release of...
