Naira Archives — Page 6 of 9 — National Accord Newspaper

CBN’s aggressive monetary policy tightening will boost foreign investment, strengthen Naira – Expert

BUSINESS

CBN’s aggressive monetary policy tightening will boost foreign investment, strengthen Naira – Expert

Bode April 2, 2024

A renowned Economist, Prof. Ken Ife, says aggressive monetary policy tightening adopted by the Central Bank of Nigeria (CBN) will attract foreign portfolio investments to the country. Ife, who is the Lead Consultant on Private Sector Development to ECOWAS Commission, said this in an interview with the News...

BUSINESS

Sustained CBN’s monetary policy integral to strengthening Naira – BDCs boss

Bode March 29, 2024

The President, Association of Bureau De Change of Nigeria (ABCON), Aminu Gwadabe, has said the recent monetary policy decisions of the Central Bank of Nigeria (CBN) have made the Naira to gain strength. Gwadabe said this in a telephone interview with the News Agency of Nigeria (NAN) on...

Naira falls against dollar by 0.7%

BUSINESS

Naira falls against dollar by 0.7%

Bode March 29, 2024

The Naira experienced a slight depreciation at the official market, trading at N1,309.39 to a dollar on Thursday. Data from the official trading platform of the FMDQ revealed that the Naira lost N8.96 or 0.69 per cent, compared to the previous day’s rate of N1,300.43 against the dollar....

Nigerian News

Naira will continue to stabilise – Shettima assures

Bode March 27, 2024

Vice President Kashim Shettima has assured that the Naira will continue to stabilise in the coming weeks and months. Shettima gave the assurance at the inauguration of the National Design and Innovation Competition, held at the Presidential Villa, Abuja, on Wednesday. The News Agency of Nigeria (NAN) reports...

BUSINESS

Naira on steady recovery, gains further by 1.8% against dollar

Bode March 27, 2024

The Naira experienced a further appreciation at the official market, trading at N1,382.95 to a dollar on Tuesday. Data from the official trading platform of the FMDQ revealed that the Naira strengthened by N25.09 or 1.78 per cent, compared to the previous day’s rate of N1,408 against the...

Binance ends all Naira services

Nigerian News

Binance ends all Naira services

Bode March 5, 2024

Cryptocurrency exchange Binance has ended its naira services, the company said on Tuesday. It listed the timeline, asking users to take needed action. “Users are encouraged to withdraw NGN, trade their NGN assets or convert NGN into crypto prior to the discontinuation of these NGN services,” Binance...

Chief Executive of Binance Holding Limited, Richard Teng

Nigerian News

Reps summon Binance boss over alleged terrorism financing

Bode March 2, 2024

The Chief Executive of Binance Holding Limited, Richard Teng, has been called upon by the House of Representatives Committee on Financial Crimes regarding suspicions of involvement in terrorism financing and money laundering. At a panel discussion on Friday, Ginger Onwusibe, the Chairman of the Committee, issued a notice...

BUSINESS

Monetary policy reforms will check inflationary tide, forex distortions – CBN

Bode February 28, 2024

The Central Bank of Nigeria (CBN) has said the on-going reforms will check rising inflationary trend and address distortions in the foreign exchange market The CBN Governor, Yemi Cardoso said this on Tuesday in Abuja, while presenting the communique from the apex bank’s Monetary Policy Committee (MPC) meeting....

BUSINESS

CBN approves $20,000 to BDCs to meet demands

Bode February 27, 2024

The Central Bank of Nigeria (CBN) on Tuesday approved allocation of 20,000 dollars to all eligible Bureau De Change (BDC) operators across the country as part of its on-going reforms. Dr Hassan Mahmud, Director, Trade and Exchange Department, CBN, in a circular, said the move was aimed at...

Naira grossly undervalued – Cardoso

Nigerian News

Naira grossly undervalued – Cardoso

Bode February 27, 2024

The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso says the Naira is grossly undervalued. Cardoso said this on Tuesday in Abuja, while presenting a communiqué from the 293rd meeting of the apex bank’s Monetary Policy Committee (MPC). He said that the foreign...

Nigerian News

CBN mandates forex sellers above $10,000 to declare sources

Bode February 24, 2024

The Central Bank of Nigeria (CBN has mandated foreign exchange sellers to Bureau De Change (BDC) of the equivalent of 10,000 dollars and above to declare their forex sources. Director, Financial Policy and Regulation Department of the CBN, Haruna Mustapha, said this in a revised regulatory framework to...

Nigerian News

Stabilise naira to avoid building collapse, experts tell FG

Bode February 23, 2024

The Lagos Chapter of the Building Collapse Prevention Guild (BCPG) has urged the Federal Government to address the depreciating naira, saying it is acting like an “accelerant’’ in building collapse. The National President, BCPG, Mr Sulaimon Yusuf, gave the advice at a news briefing on Thursday in Lagos,...

BUSINESS

Naira free fall worrisome, embarrassing, says expert

Bode February 22, 2024

A financial expert, Dr Chijioke Ekechukwu, has said the continued depreciation of the Naira has become worrisome and embarrassing. Ekechukwu, an economist and a past president of the Abuja Chamber of Commerce and Industry (ACCI), said this in an interview with the News Agency of Nigeria (NAN) on...

OPINION

Hunger protests: Igbo silence is a protest: (A Reply to Prof Usman Yusuf) By LAW MEFOR

Bode February 22, 2024

A few days ago, Ndigbo came under fire from Professor Usman Yusuf, the former Executive Secretary of the National Health Insurance Scheme (NHIS), for their perceived lack of interest in the ongoing nationally spreading hunger protests and strikes. He said: “I honestly don’t know why the South East...

Nigerian News

Forex: FG to raise $10bn for increased liquidity, Naira stability

Bode February 20, 2024

The Federal Government has expressed determination to raise at least 10 billion dollars to increase foreign exchange (forex) liquidity to stabilise the Naira and grow the economy. President Bola Tinubu made this known at the inauguration of the Public Wealth Management Conference organised by the Ministry of Finance Incorporated...

Nigerian News

EFCC sets Special Task Force against dollarization of economy & mutilation of currency

Bode February 7, 2024

By CALLISTUS OFFOR, Abuja – The Economic and Financial Crimes Commission (EFCC), has raised a Special Task Force in all its Zonal Commands for the enforcement of extant laws against currency mutilation and dollarization of the economy. The Commission disclosed this in a statement issued on Wednesday via...

Nigerian News

FG urged to phase out N1000, N500 notes to strengthen Naira

Bode February 5, 2024

The Registrar, Chattered Institute of Treasury Management (CITM), Mr Olumide Adedoyin, has urged the Federal Government to phase out higher denomination notes, such as the N1000 and N500 Naira notes, to strengthen the Naira. He said N1000 and N500 notes were more susceptible to counterfeiting, and illicit financial...

BUSINESS

CBN guidelines on Forex will stabilise Naira – NGO

Bode February 5, 2024

The Independent Media and Policy Initiative (IMPI), says the new policies introduced by the Central Bank of Nigeria (CBN) will help stabilise the Naira in the foreign exchange market. Mr Niyi Akinsiju, the Chairman of the Non Governmental Organisation (NGO), said this in a statement on Sunday in...

Nigerian News

Yuan adoption: Uwaleke urges National Assembly to trust CBN on naira policy

Bode December 23, 2023

An economist, Prof. Uche Uwaleke has urged the National Assembly to allow the Central Bank of Nigeria (CBN) to determine the most suitable exchange rate management strategy for Nigeria. Uwaleke, who is the President, Capital Market Academics of Nigeria, gave the advice in an interview with the News...

Central Bank of Nigeria (CBN) Governor, Mr Yemi Cardoso

Nigerian News

CBN warns banks, POS operators against hoarding cash

Bode December 22, 2023

By MBAFAN ADE, Abuja – The Central Bank of Nigeria (CBN) has warned Deposit Money Banks (DMBs) and Point of Sale (PoS) operators to stop disrupting the seamless distribution of Naira notes. The Acting CBN Director, Corporate Communications, Mrs Hakama Sidi-Ali, who gave the warning in a...