Nigeria’s Foreign Investment and Crypto Adoption Dilemma
Nigeria, the largest economy in Africa, has been facing a severe shortage of dollars, leading to a decline in foreign direct investment (FDI). The National Bureau of Statistics (NBS) reported…
Biodun Adedipe
Central Bank of Nigeria
cross border remittances
Emerging Markets
Foreign exchange
inflation
naira
naira depreciation
NEWS
Nigerian diaspora remittances
Annual US Dollar Remittances To Nigeria Surge To $34 Billion But Forex Woes Persist
According to a report, the value of annual dollar remittances by Nigerians working abroad has surged to $34 billion, a figure that easily surpasses the previous record-high of $25 billion.…
Nigerian Central Bank Threatens Jail Time For Citizens Caught Defacing Naira Banknotes
Fighting to stop the value of the naira from dropping further, the Central Bank of Nigeria (CBN) faces yet another problem: abuse of naira banknotes. According to the CBN’s Aladeen…
Aminu Gwadabe
Bureau De Change
cbn
Central Bank of Nigeria
Currency Devaluation
Emerging Markets
naira
NEWS
remittances
speculators
Nigeria Bureau De Change Association Boss Accuses Speculators Of Destabilizing The Naira— Says Central Bank Funding Will End Currency Woes
According to the head of the Nigerian group of bureau de change operators, the naira’s continued fall on the parallel market is down to the activities of speculators. However, Aminu…
Black Market
Central Bank of Nigeria
Currency Devaluation
Emerging Markets
Exchange rates
multiple currency regimes
naira
NEWS
OTC
World Bank
Nigeria Devalues Currency As Central Bank Moves To Unify Exchange Rates
In a possible policy shift, the Central Bank of Nigeria (CBN) recently allowed the local naira currency to briefly drop to a new low of USD$1 for 419.75 nairas on…
Central Bank of Nigeria
currency depreciation
currency substitution
domestic transactions
Economics
Foreign exchange
IMF threshold
inflation
naira
NEWS
volatility
Nigerians Shun Local Currency— Seek To Protect Wealth From Inflation And Currency Depreciation With Foreign Currency
Nigerians are thought to be accumulating foreign currencies which they believe will protect their wealth from the naira’s volatility as well as the surging inflation. Further, as a research paper…
Central Bank of Nigeria
Economics
Godwin Emefiele
inflation
Money Printing
naira
NEWS
Nigeria Federal Government
Zainab Ahmed
Nigeria Money Printing Controvesy: CBN Governor’s Remarks Attacked, Government Denies It Financed Deficit Via Money Printing
The fallout sparked by reports that the Central Bank of Nigeria (CBN) printed over $150 million for states’ funding continued a few days after the allegations were initially made. In…