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Category Naira

BRICS: New Country Rejects Local Currency for Oil, Wants US Dollar

BRICS: New Country Rejects Local Currency for Oil, Wants US Dollar

Not every country is falling in line with the BRICS agenda of replacing the US dollar with local…
Nigeria Receives Nearly $100,000 From Unlicensed Crypto Firms

Nigeria Receives Nearly $100,000 From Unlicensed Crypto Firms

The Nigerian government received nearly $100,000 from two cryptocurrency firms accused of conducting unlicensed conversions of tether (USDT) to nai...
Nigeria Injects $543.5M to Shore up Naira

Nigeria Injects $543.5M to Shore up Naira

The Central Bank of Nigeria (CBN) injected $543.5 million into the Nigerian foreign exchange market between September 6th and 30th to address curre...
Nigeria Central Bank Governor Defends Naira Float Decision

Nigeria Central Bank Governor Defends Naira Float Decision

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, emphasized the importance of the decision to float the naira, despite public cr...
Nigeria Introduces System to Boost Forex Market Transparency

Nigeria Introduces System to Boost Forex Market Transparency

The Central Bank of Nigeria (CBN) is launching a new electronic system (EFEMS) to improve transparency in the foreign exchange market. This comes a...