– Advertisement – According to local reports, Nigerian financial institutions have begun abiding by a Supreme Court ruling that invalidated the Central Bank of Nigeria (CBN)’s demonetizati...
Tag: Naira
Nigerian Banks Resume Dispensing Recently Demonetized Naira Banknotes – Bitcoin News
According to local reports, Nigerian financial institutions have begun abiding by a Supreme Court ruling that invalidated the Central Bank of Nigeria (CBN)’s demonetization of the 1,000, 500 and 100-n...
Will Tinubu save the plunging Nigerian naira?
The Nigerian naira remained under intense pressure after the country published results of its closely watched election. Google quotes the USD/NGN rate at 460, where it has been in the past few months....
Embattled Nigeria naira faces a moment of reckoning
The Nigerian naira has been in the spotlight in the past few weeks amid challenges in Africa’s biggest economy. The official USD/NGN exchange rate was trading at 460 on Thursday, significantly higher ...
Nigeria naira (USD/NGN) collapses amid multiple headwinds
The Nigerian naira collapse is still underway amid an ongoing scarcity, fuel shortage, and worries of next week’s general election. The USD/NGN exchange rate was trading at a record high of 460 on Fri...
Nigeria Extends Deadline for Returning Soon-to-Be Demonetized Naira Banknotes – Africa Bitcoin News
After initially ignoring pleas to extend the period for returning old naira banknotes, the Nigerian central bank recently said it has shifted the deadline for returning old banknotes to Feb. 10. The b...
Nigerian Banks Still Distributing Old Naira Banknotes as Demonetization Date Approaches – Africa Bitcoin News
With just a few days left before old Nigerian naira banknotes are removed from circulation, some banks have accused the Central Bank of Nigeria of failing to distribute enough new banknotes. Despite g...
New Naira Banknotes to Make Monetary Policy More Effective — Nigerian Central Bank Governor – Economics Bitcoin News
The Central Bank of Nigeria governor, Godwin Emefiele, has said the newly designed naira banknotes are set to enhance the effectiveness of the organization’s monetary policy and bolster the financial ...
Nigerian Naira Fiat Gateway joins Binance
Binance, a worldwide recognised cryptocurrency exchange, has announced the addition of a fiat gateway for the Nigerian Naira, often known as NGN. As part of Binance’s purpose, the addition seeks to in...
Binance Added Nigerian Naira (NGN) In Its Trading Gateway
45 mins ago | 2 mins read Exchange News Nigerian users can now able to deposit and withdraw NGN in Binance. Nigeria and Binance are seeking to create a blockchain-based digital economic zone. Binance ...
CBN to unveil new naira notes to improve exchange rate and inflation
The newly redesigned N200, N500, and N1000 notes are expected to enter circulation on December 15, 2022, according to the Central Bank of Nigeria (CBN). Recently, Governor Godwin Emefiele gave a speci...
Nigeria’s Central Bank Doubles Down on Plans to Introduce Naira Banknotes
CBN urges Nigerians to support the currency redesign project Nigerians are expected to return the old notes by the end of January 2023 Just a few days after being publicly questioned by Nigerian Fina...
Nigeria’s Central Bank Doubles Down on Plans to Introduce Newly Designed Naira Banknotes – Economics Bitcoin News
The Nigerian central bank was, on Oct. 29, forced to defend its controversial currency redesign plans, just a few days after they were publicly questioned by Nigerian Finance Minister Zainab Ahmad. Th...
Nigerian Central Bank Says It Will Release New Banknotes in December — Naira Falls to New Low – Featured Bitcoin News
Starting December 15, Nigerians will be using newly-designed 100, 200, 500 and 1,000-naira banknotes, the governor of the Central Bank of Nigeria (CBN) has said. The announcement has since resulted in...
Nigerian Central Bank Hikes Key Interest Rate Just Days After Naira Plunges to New Low – Africa Bitcoin News
Following the latest meeting of the monetary policy committee, the Central Bank of Nigeria says it has hiked the monetary policy rate to 15.5%. By increasing the key interest rate by 150 basis points,...
Binance CEO’s Warning About Wazirx Wallets, Nigerian EFCC on Naira Depreciation, O’Leary Buys the Dip — Bitcoin.com News Week in Review – The Weekly Bitcoin News
Another week has passed and developments in the Binance-Wazirx controversy continue, Nigeria’s Economic and Financial Crimes Commission (EFCC) claims it has identified individuals fueling the naira’s ...
Nigerian Central Bank Told to Consider Floating the Naira, Recent Interest Rate Hike Slammed – Bitcoin News
The Central Bank of Nigeria should be discontinuing the fixed exchange rate system and let the naira freely float against the major currencies, Alhaji Aminu Gwadabe, the leader of a Nigerian associati...
Naira now has a third crypto exchange rate –
Nigeria’s dual exchange rate system becomes triple with the emergence of the crypto Nigerians rely heavily on crypto Nigerians have low confidence in Naira Nigeria’s conversion scale framework overwhe...
P2P Crypto Trading in Nigeria Deals Blow to Naira
Nigeria’s Naira slumps as more citizens flock to crypto as a hedge against a weakening fiat currency. According to a bureau de change that tracks data in Lagos, the nation’s commercial hub, the countr...
Naira now has a third “crypto exchange rate” as Nigerians rely heavily on crypto
Nigeria’s exchange rate system dominated by the official and black-market rates now has a “crypto exchange rate” as a competitor since Nigerians have been accumulating crypto since 2020 due to low con...
Nigerian Central Bank Incentive Scheme Failed to Halt Naira Depreciation – Bitcoin News
The Central Bank of Nigeria (CBN)’s attempt to incentivize the country’s forex market through the so-called “Naira for Dollar” scheme has failed. This is evidenced by the local currency’s plunge of mo...
5 Best Forex Brokers with a Naira Trading Account
1. Overview Nigeria’s official currency is the Nigerian Naira. Not all forex brokers in Nigeria allow Nigerians to open Naira-based trading accounts, which allow for no currency conversion fees ...
Young People Ditch the Naira for Crypto, Thanks to Inflation
Youthful Nigerians are embracing crypto in resistance of the public authority Nigeria is viewed as one of the top oil-rich nations on the planet, yet 40% live in neediness Cryptographic forms of money...
Yellow Card Announces It’s Resuming Deposits and Withdrawals via the Naira – Exchanges Bitcoin News
Yellow Card has announced the resumption of naira deposits and withdrawals in Nigeria via a statement from the cryptocurrency exchange platform. The move by the company comes almost a year after a cen...