30 results
- 2 Aug 2016
Naira Nears N400/Dollar as Forex Scarcity Bites Harder
The Naira is gradually nearing N400 to a United States dollar due to limited dollar supply and reluctance of foreign portfolio investors to dig into the Nigeria economy. On Monday, the Naira dropped…
- 20 May 2022
e-Naira: Paper Notes to be out of Circulation Soon – CBN
Mr Godwin Okafor, an official of the Central Bank of Nigeria (CBN), has urged traders to embrace the e-naira, noting that paper naira notes will soon be out of circulation. Okafor, controller, Delta…
- 8 Dec 2013
Naira May Hit N200 to $1 By 1Q14-Analysts
Nigerians are sharing bitter experiences over the slipping trend of the naira. Newspapers had reported that the Naira weakened to N171 to the United States dollar at the BDCs by the close of…
- 30 Aug 2019
CBN Orders Banks to Exchange Bad Naira Notes for New Ones on Monday
The Central Bank of Nigeria (CBN), has told Nigerians to take all their torn and mutilated Naira notes to the banks on Monday in exchange for clean naira notes. The deadline for such exchange…
- 17 Aug 2021
CBN Threatens to Prosecute Nigerians Spraying the Naira
Central Bank of Nigeria (CBN) has said it will work with the Nigeria Police and other law enforcement agencies to ensure that anyone found abusing the naira such as spraying the Naira on social…
- 13 May 2016
Naira Falls to N370/S as Importers Chase Forex
The sharp depreciation of the naira in the parallel market triggered by the deregulation of petrol importation continued yesterday, with the naira depreciating to N370 per dollar. The Petroleum…
- 15 Jul 2016
Naira Becomes Africa's Worst Currency, Closes N363/$1 @ BDC
The Naira took a dive on Thursday at both parallel and official markets, becoming the worst performing currency in Africa in 2016. At the Nigerian parallel market, the naira fell to its lowest level…
- 10 Mar 2022
Zenith Bank Suspends Naira Card International Usage
Zenith Bank Plc has suspended the use of its Naira cards on automated teller machines (ATM) point of sale terminals (POS) outside the country as it reviewed naira card monthly spending via web…
- 24 Jul 2017
How US Federal Reserve Interest Rate Decision Will Impact Naira
FXTM Research Analyst Lukman Otunuga writes on what could be the fate of Naira following Federal Reverse (United States of America) decision on interest rate. The Naira has steadily appreciated…
- 24 Dec 2020
CBN Asks Banks to Close Naira Remittances Ledgers
Central Bank of Nigeria (CBN) has mandated Deposit Money Banks (DMBs) to close all ‘Naira General Ledgers’ used by the lenders to remit naira to Diaspora remittances beneficiaries. Godwin Emefiele,…
- 10 May 2022
CBN Asks Nigerians to Embrace e-Naira to Curb Fake Alerts
Central Bank of Nigeria (CBN) has charged the banking public to key into its e-Naira platform to avoid fake mobile money transfers. Mr Godfrey Boyor, Lagos branch Controller, stated this during the…
- 14 Jul 2016
BDC Operators Worry as Naira Crashes to N357/Dollar
The Naira on Wednesday dipped further against the dollar at the parallel market as traders at the market cited the scarcity of the greenback as reason for the extension of loses of the Naira. It lost…
- 22 Jun 2016
Eskimi Reinvents, Now Offers Bidding in Naira
Eskimi said that due to dollar scarcity and fluctuating Naira rate, it has introduced Naira rates for Eskimi programmatic DSP platform. "We see that clients struggle to obtain dollar currency due to…
- 9 Sept 2021
Naira Tumbles to N543/$ @ Parallel Market
Naira, the Nigerian currency has hit a new low exchanging for N540 against the dollar, at the parallel market on Thursday. This is barely a week after the naira exchanged for N530 against the dollar,…
- 18 Jan 2018
Ecobank Increases International Spend Limits on Naira Cards
Ecobank Nigeria has announced an increase in the maximum daily limit of their Naira Debit Cards abroad depending on the type of Card held by the Customer. Customers with Naira Debit Cards can…
- 31 Mar 2021
Will the Naira Ever Return to its Former Glory?
By Lukman Otunuga, Senior Research Analyst at FXTM There was a time when the Naira was worth almost twice as much as the Dollar and equivalent to the British Pound. Almost three decades later, the…
- 4 Nov 2024
How to Choose the Best Site to Convert BTC to Naira: The Key Features to Consider
Converting Bitcoin (BTC) to Naira has become increasingly popular in Nigeria , and choosing the right platform for this task can make a big difference in maximising your returns while keeping your…
- 29 May 2023
CBN Vows to Promote Adoption of e-Naira
The Central Bank of Nigeria (CBN) has taken the sensitisation drive of e-Naira to women during the Law Ladies Day programme at the University of Lagos (UNILAG), Yaba Lagos. The move according to the…
- 20 Sept 2021
Naira Slumps by 209 Per Cent in 6 Years
Despite the over $130bn deployed by the Central Bank of Nigeria (CBN) to defend the naira and a myriad of policies churned out to shore up its value over the past six years, the Nigerian currency has…
- 26 Jun 2016
CBN Should Eliminate Factors Working Against Naira- Otunuga
The painful combination of declining oil prices and an appreciating Dollar has punished the Nigerian economy with the Naira being left under immense pressure, said Lukman Otunuga, a research analyst…
- 20 Jun 2016
Naira Tumbles, to Hit N350/Dollar Today as CBN Ends Peg
Pent-up demand for dollars may push Nigeria’s naira at least 20 percent weaker when the Central Bank of Nigeria (CBN) allows the currency of Africa’s biggest economy to float freely on Monday, said…
- 22 May 2023
CBN Wants School Fees Paid through e-Naira
Central Bank of Nigeria (CBN) has introduced a digital currency called e-Naira to Nigerian tertiary institutions to enable members of the academic environment to offer better payment prospects in…
- 3 Sept 2021
Naira Crashes to N532/$ at Parallel Market as CBN Vacates PND on 33 BDCs
The naira on Friday traded at all time low of N532 to dollar at the parallel market. The naira also dropped among other major currencies as it exchanged at N621/Euro, N721/ British Pounds Sterling.…
- 6 May 2025
Naira Gains Strength, Hits N1,600/$ in Parallel Market
The naira appreciated to N1,600 per dollar in the parallel market at the close of trading hours on Monday, strengthening from N1,610 per dollar recorded over the weekend. Similarly, the naira saw a…
- 28 Feb 2021
CBN Pumps in $10.3Bn to Defend Naira in 6 Months
Central Bank of Nigeria (CBN) defended the naira in six months with $10.3 billion intervention in the inter-bank foreign exchange market, its half-year report has shown. The naira dipped to…
- 10 Aug 2021
e-Naira: CBN to Fortify Nigeria’s Digital Currency
Central Bank of Nigeria (CBN) has described the e-Naira, Nigeria’s proposed digital currency as a critical national infrastructure, a term used by governments to describe assets that are essential…
- 13 Feb 2015
Nigerians Fear Political Crisis, Dump Naira for Dollars, Pounds
Nigerians are dumping the naira currency as it skids lower by the day, driven by fear of the unknown after authorities pushed back the date of a presidential election. They are reportedly buying up…
- 14 May 2018
FirstBank Introduces Contactless Naira Mastercard
First Bank of Nigeria Limited has introduced the Contactless Naira Master Card to its array of debit cards to promote convenience, ease of transactions and the security of funds. FirstBank…
- 21 Dec 2009
More winners Emerged in Zain Naira Rain Promo
Second set of winners emerged millionaires in Zain Nigeria Naira Rain promo. Among them is a commercial taxi driver in Kaduna and a trader resident in Lagos were among 57 millionaires in the second…
- 5 Aug 2016
Naira Hits N400/Dollar as Forex Scarcity Worsens
The naira plunged to 400 against the dollar at the parallel market on Thursday as shortage of foreign exchange continued to have negative effects on economic activities in the country, according to…