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Currency Watch
Why e-naira ‘ll not deepen financial inclusion – experts
E-naira, Nigeria’s Central Bank Digital Currency (CBDC) may not deepen financial inclusion as hoped despite offering the advantage of cheaper and more efficient financial transactions,…
CBN holds interest rate for 6th straight time as inflation concerns weigh
The Central Bank of Nigeria (CBN) on Friday retained its benchmark interest rate known as the Monetary Policy Rate (MPR) at 11.5 percent, as inflationary pressures remain despite a recent…
CBN takes on abokifx founder over exchange rate breaches
The Central Bank of Nigeria (CBN) is said to be investigating Olusegun Adedotun Oniwinde, the owner of abokifx, an online platform that collates exchange rates.
Oniwinde is currently…
El Salvador’s adoption of bitcoin as legal tender fails to stop sell-off
Bitcoin investors and miners taking profits from the market have forced the price of the largest cryptocurrency by market valuation to drop to $44,772 on Wednesday from $53,000 on Tuesday,…
Naira falls to N535 despite rising external reserves
Naira, Nigeria’s legal tender on Wednesday fell to N535 per dollar at the unofficial market and 0.20 percent at the official market despite the recent accretion in external reserves.…
Naira hits record N530 per dollar on parallel market
Naira, Nigeria's legal tender on Thursday fell to N530 per dollar on the parallel market also known as the black market.
The depreciation of the Naira was a result of increased demand…
Increased dollar demand triggers new Naira fall
The rising demand for scarce dollar by importer has triggered fresh fall in the value of naira at the parallel market, popularly known as the black market.
Naira fell to a new low of N527…
Babybitcoin woos Nigerians with organic price pump
As the world angles towards cryptocurrency as a tender for digital transactions, more Nigerians are beginning to key into the crypto trade. Statistics place Nigerians as one of the highest…
Ghana’s cedi at record low amid surging FX demand from importers
The Central Bank of Ghana is failing to stem the worrying slide of the national currency the cedi despite making the biggest injection yet of dollars, Bloomberg reports.
Reports say the…
Inflows worth N334.5bn to hit Nigeria’s market Wednesday
Inflows worth N334.5 billion are expected to hit Nigeria's financial market on Wednesday, raising the system liquidity levels to N406.8 billion from N72.3 billion levels on Friday.
A…