naira

Scarcity Of New Naira: CBN Can't Get It Right With Emefiele

Scarcity Of New Naira: CBN Can’t Get It Right With Emefiele

January 30, 2023 4:50 am

Ever since he lost his bid to transfer his cluelessness, insensitivity, and screaming incompetence from Nigeria’s apex bank to Aso Rock, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefelie has not been the same man he was known to have always been. Suddenly, he has found the balls he hitherto lacked, he has remembered his economic theories which he previously never cared about, and for the first time, he seems to be out to fight the rascality in the Nigerian monetary environment. However, the big question is, can a Leopard change its colours? The simple answer is …

Nigerian New Notes: CBN Led By Emefiele Is Bereft Of Ideas

November 30, 2022 2:47 am

Nigeria’s apex Bank, the Central Bank of Nigeria (CBN), got Nigerians reacting to the samples of the new designs of higher denomination currency notes just a few days ago. The decision to redesign these currencies was earlier announced amid mixed feelings from Nigerians who wanted more from a Central Bank that has supervised the eroding of the value of their beloved Naira.

The big question that has been left unanswered, however, is how the new currencies will manage to reverse Nigeria’s fast-paced journey to economic abyss.

The announcement by the Governor of the CBN, Godwin Emefiele attracted controversies from experts, …

The Fulani Oligarchy's Stooge Called Godwin Emefiele

The Fulani Oligarchy’s Stooge Called Godwin Emefiele Of CBN

November 7, 2022 2:24 am

Mr. Godwin Emefiele is without any argument the worst central bank governor Nigeria has ever had. Over the last eight years, he has plunged the Naira into an unprecedented fall with his insanely clueless monetary policies which have left Africa’s most populous country on her knees, made her the poverty capital of the world, and deepened the misery of her citizens. 

Nigerians won’t be having it this bad if they didn’t have a stooge as the head of their apex bank and the fact that he has escaped being fired despite his open sabotage against the Nigerian economy tells a …

Naira Needs Redecimalisation Not CBN's Clueless Redesigning

Naira Needs Redecimalisation Not CBN’s Clueless Redesigning

November 7, 2022 1:58 am

The Nigerian economy which used to be a powerhouse in Africa is currently facing what might be its greatest threat yet, and the managers appear to be clueless about the measures to take. For an import-driven economy that has failed to make any audacious move on economic diversification, it is only natural that the pressure on the Dollar remains high thus moving its value upwards while the local currency flounders. This has been the case for the past decade and current managers of the economy don’t seem to possess any iota of sincerity toward pulling the country out of the …

Naira Redesign Buhari Throws Full Wight Behind CBN

Naira Redesign: Buhari Throws Full Wight Behind CBN

October 31, 2022 6:05 am

President Muhammadu Buhari has thrown his full weight behind the decision of the Central Bank of Nigeria, CBN, to launch new designs of the naira denominations.

According to Buhari, Nigerians who are in possession of illicit money stashed in the soil would have problems with the new naira notes.

He, however, used the opportunity to assure that Nigerians would gain a lot when the redesigned new notes are launched.

Recall that the CBN Governor, Godwin Emefiele had announced the launch of the redesigned naira notes on Friday.

Read Also: Northern Group Faults CBN Move To Redesign Naira Notes

Africa …

Nigeria’s Inflation Soars To 20.77 Percent, Highest In 20yrs

Nigeria’s Inflation Soars To 20.77 Percent, Highest In 20yrs

October 18, 2022 5:27 am

The inflation rate of Africa’s most popular country, Nigeria has soared for the eighth consecutive month, smashing a fresh 17-year-high amid rising food and energy costs, and a further depreciating naira.

According to data from the National Bureau of Statistics which was obtained by Africa Daily News, New York, inflation soared to 20.77 percent in September from 20.52 percent recorded in August, the highest since 2005.

Food inflation rose 23.34 percent year-on-year compared with 23.1 percent in August, while core inflation rose to 17.6 percent in September from 17.2 percent in August.

Read Also: I’ll Defintely End All Insecurity In

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Senate Invites Emefiele Over Fx Crisis, Naira Devaluation

Senate Invites Emefiele Over Fx Crisis, Naira Devaluation

July 28, 2022 5:05 am

In the face of the ongoing crisis in the Nigerian foreign exchange market, the Senate has resolved to summon the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, to provide answers and inform senators in a closed session on the reasons for the rapid depreciation of the value of the naira.

The Red Chambers of the national assembly also mandated the Senate Committee on Banking, Insurance and Other Financial Institutions to assess the impact of the CBN intervention funds meant to support critical sectors of the economy.

The resolutions were reached by lawmakers after the upper chamber …

Naira Grows Marginally As It Exchanges At 441.25 To Dollar

Optimum Productivity Will Inflate Naira Value – Experts

May 24, 2022 2:00 pm

Some experts at a one-day roundtable on national issues organised by Development Specs Academy (DSA) in Abuja have come to the conclusion that only increased productivity and a change in consumption patterns of Nigerians will shore up the value of the naira.

Speakers at the occasion include the convener, Dr Okey Ikechukwu, a former spokesperson for the Nigerian Army, Brigadier Sani Usman (retd.); Rev.Fr. George Ehusani, Prof Jim Unah, Dr. Amaechi Anakwue, Prof. Christopher Ogbogbo, Dr. Amara Albert, Dr. Hyeladi Haruna, Dr Amaechi Anakwue, among others.

Dr. Okey noted that the Central Bank of Nigeria, CBN, has made several policy …

Naira 'Resurrects' At ₦429.62 To Dollar At Investors' Window

Deeper Waters For Naira As It Exchanges At 419.25 To Dollar

May 19, 2022 9:30 am

Its all deeper waters for the Naira as it had reportedly exchanged at 419.25 to the dollar at the Investors and Exporters window, compared to 418.50 traded on Tuesday, representing 0.18 per cent depreciation on Wednesday.

The open indicative rate closed at ₦418.00 to the dollar on Wednesday. An exchange rate of ₦444.00 to the dollar was the highest rate recorded within the day’s trading before it settled at ₦419.25.

The Naira sold for as low as 410 to the dollar within the day’s trading.

Read Also: Free Fall For Naira As It Racks Up Losses Against Dollar

A total …

Naira 'Resurrects' At ₦429.62 To Dollar At Investors' Window

US Dollar Soars As Nigerian Naira Crashes, Closes At 419

May 9, 2022 6:09 pm

Monday saw the Nigerian Naira depreciating at the Investors and Exporters window while exchanging at ₦419 to the dollar, a 0.48 per cent depreciation, weaker than ₦417 it traded on Friday.

Reports have shown that the open indicative rate closed at ₦419 to the dollar on Monday.

An exchange rate of ₦423.00 to the dollar was the highest rate recorded within the day’s trading before it settled at ₦419.00.

Read Also: Oshodi Traders Hail CBN’s Introduction Of e-Naira

The Naira sold for as low as 410.84 to the dollar within the day’s trading. A total of 53.15 million dollars was …

Army

FG, CBN, Sued Over Arabic Inscription On Naira, Army Logo

January 11, 2020 5:17 pm

A Nigerian lawyer and Human Rights activist Barr. Malcolm Omirhobo has Thursday sued the Federal Government, Central Bank of Nigeria, Nigeria Army, Ministry of Defense and Attorney General of the Federation over the continuous Arabic inscription on the naira notes and the flag of the Nigerian Army without considering Nigeria to be a secular nation.

He is seeking a Federal High Court to interpret the provisions of Section 10 of the 1999 Constitution of the Federal Republic of Nigeria. He filed two suits.

The defendants in the suits are Central Bank of Nigeria, Attorney-General of the Federation, the Nigerian Army, …

Kaffy, Naira Marley in war of words over Soapy

Kaffy, Naira Marley in war of words over Soapy

July 6, 2019 12:03 am

The social media was buzzing on Thursday as controversial singer, Azeez Fashola well known by the stage name, Naira Marley, fired back his own venoms against Nigerian award-winning dancer and showbiz personality, Kafayat Shafau Ameh popularly known as Kaffy, who earlier had berated a new dance style, Soapy, which is geared towards promoting his song with the same title.

Kaffy, the Guinness World Record holder in dance, had on Tuesday, reacting to the viral dance videos, disapproved of the dance style, describing it as disgusting and immoral.

Taking to Instagram, the famous Nigerian dancer wrote: ”I am sorry, but I …

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