News

New Naira policy turn soar as pro- FG campaigners attacked in Abuja

Ihesiulo Grace 15 February 2023 0

By Tunde Opalana Implementation of the new Naira notes redesigning took a new twist on Tuesday as suspected hired thugs attacked pro- Federal Government campaigners on the street of Abuja, Federal Capital Territory. Members and supporters of a consortium of Civil Society Organisations under the

News

New Naira policy turn sour as pro- FG campaigners are attacked in Abuja

Ihesiulo Grace 14 February 2023 0

By Tunde Opalana Implementation of the new Naira notes redesigning took a new twist on Tuesday as suspected hired thugs attacked pro- Federal Government campaigners on the street of Abuja, Federal Capital Territory. Members and supporters of a consortium of Civil Society Organisations under the auspice of the Council of Civil society Organisation were reportedly […]

Headlines

Naira scarcity: Emefiele keeps Nigerians in suspense after meeting with Buhari

Ihesiulo Grace 14 February 2023 0

By Ukpono Ukpong Again, President Muhammadu Buhari yesterday met with the Governor of Central Bank (CBN), Godwin Emefiele, even as the purpose of the meeting was not made open. According to insiders, the meeting was not unconnected to the scarcity of the new naira notes in the country. The CBN governor who refused to speak […]

Breaking Politics

10 Govs launch syndicated attacks on implementation of new Naira policy – CSOs

Ihesiulo Grace 14 February 2023 0

…urge then to stop incitement against President…pass vote of confidence on Buhari, Emefiele By Tunde Opalana Ten serving state governors are involved in a syndicated attack towards successful implementation of the newly redesigned naira notes by the Central Bank of Nigeria (CBN). The Coordinating Council of Civil Society of Organisation which made this allegations said

Headlines

Naira scarcity takes a toll on health care sector

Ihesiulo Grace 13 February 2023 0

*Patients denied access to health care as death figures rises By Doosuur Iwambe The Naira scarcity occasioned by currency swap policy of the Central Bank of Nigeria (CBN), has taken a huge toll on the health sector as patients are being denied access to health care. A visit to some of the facilities in the […]

Headlines

Naira/fuel scarcity: Council of State urges decisive action to ease pains

Ihesiulo Grace 11 February 2023 0

…as Buhari presides over meeting …Jonathan, Gowon, Abdulsalami, attends physically …Obasanjo, Lalong, Bagudu, others join virtually By Ukpono Ukpong The Council of State has called for aggressive action to ensure adequate supply of new naira notes in the country. Addressing the State House correspondents in Abuja, the Minister of Justice and Attorney General of the […]

News

Naira scarcity: Hasten your decision – Senator tells Buhari

Ihesiulo Grace 5 February 2023 0

By Haruna Salami The Chairman, Senate Committee on the Federal Capital Territory, Senator Smart Adeyemi has urged President Muhammadu Buhari to reconsider his position to address the current naira scarcity before seven days as he had promised. The Senator who is representing Kogi West Senatorial District in the National Assembly stated this while addressing journalists

Politics

Naira Redesign: Atiku, El- rufai differ on policy

Ihesiulo Grace 1 February 2023 0

…address hardship faced by ordinary Nigerians, don’t succumb to blackmail, Atiku tells CBN …timing politically, economically senseless, certain persons in Aso Rock working against Tinubu says – El- rufai By Tunde Opalana As ordinary Nigerians continue to experience difficulty in assessing newly designed naira notes despite a 10 extension of deadline by the

Business

Naira slides to N461.90/$ as demand for dollar soars

Ihesiulo Grace 16 January 2023 0

*Naira devaluation by 1.2% improves rate in parallel market-Afrinvest By Temitope Adebayo The Nigerian local currency, the naira traded at N461.90 on Friday in the Investors’ and Exporters’ foreign exchange (FX) window amidst rising demand for the United States dollar for imports. In 2022, Naira lost about 11% following a negative net position in the […]

Business

Naira weakens as reserves stable at $3.45bn

Ihesiulo Grace 9 January 2023 0

The Nigerian local currency, the naira, weakened at the Investors and Exporters foreign exchange (FX) window, as external reserves down by $3.45 billion amidst rising import bills payment, latest market data has shown. As at Friday, 6th January, 2023, Nigeria’s gross external reserves stood at the $37 billion, lower than $40 billion mark since early […]

Business

Forex: How the decline in demand pushes Naira to N740/$ at parallel market

Ihesiulo Grace 4 December 2022 0

By Temitope Adebayo The Nigerian currency, Naira on Friday strengthened further against the US Dollar at the unofficial forex market to trade at N740 per dollar, representing an appreciation of N35 or 4.5 per cent from the N775 traded the previous week. This was because demand for the dollar at the unofficial has been on […]

Headlines

MPC: CBN tightens interest rate to 16.5% amid increasing inflationary concerns

Ihesiulo Grace 23 November 2022 0

By Temitope Adebayo In a sustained push to control inflation and ease pressure on the Nigerian currency, Naira, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), on Tuesday, raised its benchmark lending rate to 16.5 per cent. The decision became necessary, as the apex bank’s previous policy decisions were beginning to […]

Headlines

Forex: External reserves dip as Naira closes at N855/$1 at black market

Ihesiulo Grace 9 November 2022 0

By Temitope Adebayo Foreign exchange reserves monitored by the Central Bank of Nigeria (CBN) recorded a slight drop to standing at $37.295 billion, while the exchange rate between the naira and the US dollar improved by 2.29 per cent at the black market on Tuesday, trading at an average of N855/$1, compared to an average […]

Headlines

Planned Naira redesign: CBN has my backing – Buhari

Ihesiulo Grace 31 October 2022 0

By Ukpono Ukpong, and Motolani Oseni President Muhammadu Buhari yesterday said that the decision of the Central Bank of Nigeria (CBN) to launch new designs and replace high value Naira notes had his support and is convinced that the nation will gain a lot by doing so. Speaking in a Hausa radio interview which is […]

Headlines

Naira stables amid external reserves decline of $203.5m in 6 days

Ihesiulo Grace 26 September 2022 0

By Motolani Oseni The Nigerian currency, the Naira, at weekend closed at N712 to the dollar on the black market, and gained slightly on the spot market on the last trading day of the week. It however depreciated steadily in the unofficial market within the week, as external reserves monitored by the Central Bank of […]

News

Court jails Chinese man over Naira mutilation

Ihesiulo Grace 31 May 2022 0

The Lagos State Zonal Command of the Economic and Financial Crime Commission, EFCC, has secured the conviction and sentencing of one Li Lei Lei to two years imprisonment over mutilation of the Nigerian currency (Naira). The Chinese national was convicted by Justice I. Nicholas Oweibo of the Federal High Court sitting in Ikoyi, Lagos on […]

Business

Naira closes N498/$ at parallel market

Ihesiulo Grace 3 June 2021 0

By Motolani Oseni The Naira at the parallel market traded flat at N498 and N700 against the Dollar and Pound Sterling respectively on Wednesday. The local currency thus lost 0.17 per cent against the Euro to close at N598. Trading at the parallel market on Tuesday revealed that Naira lost by 0.61per cent and 0.17 […]

News

Nigerian govt announces another currency reform as Naira falls to N486/dollar

Ihesiulo Grace 23 March 2021 0

The Federal Government on Monday announced another currency reform as Naira falls across foreign exchange markets in the country. The Minister of Finance, Budget and National Planning, Zainab Ahmed, told journalists in Abuja that Nigeria would henceforth adopt the flexible Investors and Exporter window rate for official transactions. She said the government would start to

Business

Naira stables across foreign exchange markets

Ihesiulo Grace 21 January 2021 0

*I&E FX window records turnover of $89.50m MOTOLANI OSENI The Naira, at the close of midweek trading activities, stabled across foreign exchange segments to close at N394.17 to the dollar at the Investors and Exporters (I&E) foreign exchange window. Data from FMDQ Securities Exchange shows that naira opened at the I&E forex window at N394.17, […]

News

Naira loses against dollar at the parallel market

Ihesiulo Grace 8 September 2020 0

Barely 24 hours the Central Bank of Nigeria (CBN) resumed dollar sales at the Bureau De Change (BDC) sector, the Naira have reversed the gain made against the dollar. READ ALSO: ‘How Naira strengthens against dollar amid CBN interventions’ The Naira traded at N441 to the dollar on Tuesday, losing N6 from N435 recorded on […]