EFCC Hails CBN’s Move To clampdown On Currency Hoarders
The Economic and Financial Crimes Commission (EFCC) has applauded the move by the Central Bank of Nigeria (CBN) to redesign and reissue higher denominations of the Nigerian currency, the Naira.
Naira traded at N825 at black market, N795 at I&E window
The Nigerian currency, the naira, was traded at the average rate of N825 to the dollar at the parallel markets (black market) on Tuesday.
CBN moves to restore investor confidence, begins clearance of FX
The Central Bank of Nigeria (CBN) has started clearing backlogs of foreign exchange (FX) forward contracts through some banks as part of efforts to rebuild confidence in the Nigerian economy.
Emefiele directs banks to receive old notes
At last the Central Bank of Nigeria (CBN) has made a U-turn, directing that commercial banks in Nigeria should stop rejecting N200, N500, and 1,000 old naira notes.
Buhari Demands For 7days Decision On Major Currency Redesign
President Muhammadu Buhari has urged citizens to give him seven days to resolve the cash crunch that has become a problem across the country following the policy of the Central Bank of Nigeria to change high value Naira notes with new ones.
CBN hikes interest rate to 18.75%
The Monetary Policy Committee, the policy-setting committee of the Central Bank of Nigeria (CBN), has raised the monetary policy rate (MPR), which measures interest rate, from 18.5 per cent to 18.75 per cent.
