BY TEMITOPE ADEBAYO Nigeria’s currency in circulation dropped to N5 trillion in March 2025, marking its third consecutive monthly decline, according to the latest data released by the Central Bank of Nigeria. The figure represents a 0.79 per cent fall from N5.04 trillion in February and a cumulative N240 billion or 4.58 per cent decrease […]
BY TEMITOPE ADEBAYO The volume of currency in circulation surged to N5.235 trillion in January 2025, marking a 7.3 per cent increase from November 2024 and a 43.6 per cent rise compared to January last year, even as bank credit to both the government and private sector declined. Data from the Central Bank of Nigeria […]
Nigeria will soon create its digital currency, the Central Bank of Nigeria said Tuesday as the bank continues to face questions over its ban on cryptocurrency transactions in the country. The governor of the CBN, Godwin Emefiele, said this while addressing journalists after a two-day meeting of the Monetary Policy Committee in Abuja. READ ALSO: […]
Abuja – Presidents of Economic Community of West African States (ECOWAS) are to meet on December 21 in Abuja to consider recommendations on the proposed single currency regime for the sub-regiom Nigeria Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed disclosed this on Saturday in Abuja at the end of the meeting of Ministerial Committee […]
A 43-year-old man, Francis Essien, on Friday appeared in a Tinubu Magistrates’ Court in Lagos for allegedly being in possession and circulation of counterfeit currency to buy newspaper from a vendor. The police charged Essien, who resides in Ogunnike, St., Lekki Lagos State with one count of issuance of fake currency. The prosecution counsel, Insp. Ajaga […]
…Transactions turnover decline by N3.30trn in one month …As CBN reports $3.98bn FX net flow loss in Q3 As trading activities in the Fixed Income and Currency (FIC) market wind down in 2018, not less than a whopping N145.68 trillion has been traded in Foreign exchange (FX), Treasury bills (T. bills), FGN Bonds, among other […]
.Links development to rise in deposits banks, FG, others .Nigerians still finding it difficult to embrace apex bank’s cashless policy-Currency Analyst The nation’s currency in circulation has dropped by N0.25 trillion, when compared to N1.9 trillion recorded in January 2018 against N2.15 trillion declared in December 2017, the Central Bank of Nigeria (CBN) has disclosed. […]
….As NAFEX records $195.6m transactions turnover Following the dropped of the Naira to N307 per US Dollar on Monday for the first time ever at the official foreign exchange, the Nigeria’s local currency, rebounded slightly to close at 306.85, as at close of yesterday trading activities, while the local currency extended its gaining streak against […]
The Nigerian naira has made interesting improvement against the dollar as it continues its recovery. The Naira Tuesday appreciated against the dollar at the parallel market. The Nigerian currency gained N2 to exchange at N365 to the dollar, stronger than N367 posted on Monday while the Pound Sterling and the Euro closed at N475 and […]