It’s becoming increasingly obvious that the people currently at the helms of affairs of Nigeria are using the Future of Nigerians to do “trial and error”. You see, Most Nigerians haven’t yet understood the calamity awaiting the country with these sets of people currently ruling them. There’s a rumor that they’re trying to introduce REDOMINATION
CBN lifts cash deposit restriction on domiciliary accounts, allows $10k withdrawals daily
The Central Bank of Nigeria (CBN) issued a press statement on June 18, 2023, providing further guidance to Deposit Money Banks (DMBs) on the operational changes to the foreign exchange market announced on June 14, 2023. The statement followed an extraordinary Bankers’ Committee meeting held to discuss the implementation and implications of the policy changes
What does it mean to float the naira?
Nigeria has officially floated its naira after years of sticking with a hard peg that scared away investors and drained the country’s external reserve. This floating means buyers and sellers of foreign currency in the official FX market are now allowed to quote rates they find comfortable, as against previous practice where rates were dictated
Nigeria officially floats naira as I&E rate hits N755/$
Nigeria has officially floated its naira currency after years of sticking with a hard peg that spooked investors and drained dollars from the economy. The development means buyers and sellers of foreign currency in the official FX market are now allowed to quote rates they find comfortable in the FX market, as against previous practice
BREAKING: DSS arrests Emefiele after suspension
The Department of State Services, (DSS) has arrested the suspended Governor of Central Bank of Nigeria, Godwin Emefiele. Jkcyno news reported earlier that Emefiele was suspended on Friday by Bola Tinubu. READ ALSO : Bola Tinubu suspends Suspends Emefiele As CBN Governor Tinubu also appointed deputy governor, Mr Folashodun Adebisi Shonubi as the
Is CBN lying to Nigerians about Devalued Naira?
Importers have condemned the Central Bank of Nigeria (CBN)’s over its denial that the Naira has been devalued. In an interview with BusinessDay, an importer, who craved anonymity, asked the CBN to be truthful. In its report titled, “Business leaders insist they get dollars at N630 despite CBN denial“, BusinessDay quoted manufacturers and importers as saying
Adaora Umeoji Retires as Zenith Bank Deputy Managing Director
The Deputy Managing Director of Zenith bank PLC, Dr. Adaora Umeoji has retired from the financial institution following the new tenure limits for banks’ executives released recently by the Central Bank of Nigeria, CBN, . Her retirement became effective from February 24th, 2023.Zenith Bank disclosed this in a notification to the Nigerian Exchange Limited that
Commercial Bus Drivers In Lagos Adopt POS usage (video)
Amidst the current Naira crunch in Nigeria, citizens are gradually adjusting to the realities on ground to the cashless policy of the Central Bank of Nigeria, CBN. In lagos, the commercial city of Nigeria, some of the commercial bus drivers are beginning to adjust by using Point of sales, POS, machines on transit. Even as APC
CBN drops new directives for Nigerians about Old Currency
The Central Bank of Nigeria has ordered banks to start collecting the old N500 and N1,000 notes from the public with immediate effect. It however pegged the maximum amount the banks can collect at N500,000. The CBN maintained that the old currencies were still no more legal tender. A source from the bank said the
Full Text Of President Muhammadu Buhari’s National Address
NATIONAL BROADCAST BY HIS EXCELLENCY MUHAMMADU BUHARI, PRESIDENT, FEDERAL REPUBLIC OF NIGERIA ON THE CHALLENGES OF THE CURRENCY SWAP AND STATE OF THE NATION, ON 16th FEBRUARY, 2023 My Dear Compatriots, I have found it necessary to address you today, on the state of the nation and to render account on the efforts of our