Naira

Naira drops by 49% year-to-date, ends 2023 at N907 against US Dollar

The greatest economy in Africa saw its currency, the Naira, drop by a staggering 49% year to date, ending 2023…

9 months ago

Naira scarcity: CBN reveals those hoarding banknotes

A few days before Christmas, the Central Bank of Nigeria, CBN, warned Point-of-Sale operators and Deposit Money Banks not to…

9 months ago

Naira gains on the black market but falls at the official window

The Nigerian Naira saw a small decline in value relative to the US dollar in the official Nigerian Autonomous Foreign…

9 months ago

Fears about banks’ declining deposit levels rise as Naira becomes scarce

Due to a lack of cash, the Standing Deposit Facility of Nigerian banks decreased by 18%, from N2.94 trillion in…

9 months ago