Business

Currency in circulation hits N5.24trn as bank lending drops

DailyTimesNGR DailyTimesNGR 20 February 2025 0

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

News

Crypto: Nigeria will soon have its own digital currency — CBN

Ihesiulo Grace 26 May 2021 0

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: […]

Featured Politics

ECOWAS Presidents to meet on single currency regime Dec. 21

Ihesiulo Grace 8 December 2019 0

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 […]

Crime

Man docked for allegedly circulating fake currency

Ihesiulo Grace 11 October 2019 0

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 […]

Business Headlines

Forex, T-bills, other turnovers hit N145.7trn in 10 months

Ihesiulo Grace 26 November 2018 0

…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 […]

Business Headlines

CBN: Why currency in circulation dropped by N0.25trn in one month

Ihesiulo Grace 12 February 2018 0

.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

Money

Naira rebounds at official FX, extends gains over Euro at parallel market

Ihesiulo Grace 7 December 2017 0

….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 […]

Economy

Nigeria’s naira records significant gains against the dollar

Ihesiulo Grace 29 August 2017 0

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 […]