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New Naira notes scarcity: Businesses shutdown in Kogi communities

By Editor January 26, 2023 162 2

By Daniel Adaji Anthony Esther, a resident in Okpo, Olamaboro Local Government Area of Kogi State, has lamented the non-availability of the new Naira notes in her community and how several businesses have shut down not wanting to continue to transact in the old currency for fear that they might not be able to change […]Continue Reading

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‘What Buhari told outgoing ministers’

By Ele Ifah Sunday May 13, 2022 146 Post a comment

President Muhammadu Buhari on Friday in Abuja bade farewell to outgoing members of the Federal Executive Council (FEC), affirming that a significant number of them have been sufficiently equipped to aspire to higher elective offices, including the Office of the President. Speaking at a valedictory session for appointees leaving the cabinet to pursue political ambitions, Continue Reading

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‘What IMF says about eNaira’

By Ele Ifah Sunday November 16, 2021 154 0

By Jack Ree, IMF African Department The Central Bank of Nigeria (CBN) officially launched the “ eNaira”—a central bank digital currency (CBDC)—on October 25, 2021. This is the second CBDC fully open to the public after the Bahamas. Other countries and regions, such as China and the Eastern Caribbean Currency Union, have been conducting CBDC […]Continue Reading

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‘Nigeria is Printing Money’ – The Road to Zimbabwe

By Ele Ifah Sunday April 21, 2021 197 0

By Nick Agule Within the last week, a war of words has ensued over the management of the Nigerian economy with Gov Obaseki of Edo State firing the first salvo by accusing the FG of the catastrophic management of the economy alleging that the FG is printing money to fund federal allocations. Nigeria’s Finance Minister […]Continue Reading

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How forex rates adjustments affect Nigeria’s economy

By Ele Ifah Sunday April 9, 2021 218 0

On Friday, the Central Bank of Nigeria (CBN) ended all multiple foreign exchange (forex) rates in Nigeria and introduced a somewhat single exchange rate regime, apparently in a move to protect the naira from exchange rate depreciation as the COVID-19 continues to take huge toll on Nigeria’s crude oil earnings and foreign reserves. Some market […]Continue Reading