naira exchange rate

Nigeria’s Central Bank Doubles Down on Plans to Introduce Newly Designed Naira Banknotes

October 31, 2022 Bitcoin.com

bitcoin.com

The Nigerian central bank was, on Oct. 29, forced to defend its controversial currency redesign plans, just a few days after they were publicly questioned by Nigerian Finance Minister Zainab Ahmad. The central bank insists the move is long overdue and urged Nigerians “to support the currency redesign project which is in the overall interest […]

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Nigerian Presidential Hopeful’s Party Says It Will Review Country’s Blockchain and Crypto Policy if Elected

October 23, 2022 Bitcoin.com

Africa

The party of the Nigerian presidential hopeful Asiwaju Bola Tinubu has promised to set up an advisory committee to review regulations that govern blockchain and virtual asset services if it wins in the upcoming elections. The All Progressives Congress also said it “will work with the Central Bank and the financial sector to carefully review […]

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Ethereum Technical Analysis: ETH Bulls Press Forward Hinting at Possible Reversal

Nigerian Central Bank Hikes Key Interest Rate Just Days After Naira Plunges to New Low

September 28, 2022 Bitcoin.com

Africa

Following the latest meeting of the monetary policy committee, the Central Bank of Nigeria says it has hiked the monetary policy rate to 15.5%. By increasing the key interest rate by 150 basis points, the central bank hopes to “narrow the negative real interest rate gap and rein in inflation.” The rate increase came just […]

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Ethereum Technical Analysis: ETH Bulls Press Forward Hinting at Possible Reversal

Nigerian Presidential Candidate Says Fixed Exchange Rate Regime ‘Has to End’ — Touts Success of Fintech Unicorn Flutterwave

September 6, 2022 Bitcoin.com

bitcoin.com

A Nigerian presidential election candidate, Peter Obi, has said the local currency’s exchange rate against the dollar must not be fixed but must be determined “by the forces of demand and supply.” Pointing to the success of the Nigerian fintech Flutterwave, the candidate said if elected, his government will create an enabling environment for other […]

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Ethereum Technical Analysis: ETH Bulls Press Forward Hinting at Possible Reversal

Nigerian Central Bank Told to Consider Floating the Naira, Recent Interest Rate Hike Slammed

August 2, 2022 Bitcoin.com

Alhaji Aminu Gwadabe

The Central Bank of Nigeria should be discontinuing the fixed exchange rate system and let the naira freely float against the major currencies, Alhaji Aminu Gwadabe, the leader of a Nigerian association of bureau de change operators has said. The leader also slammed the recent adjustment of the central bank’s interest rate to 13%, which […]

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Ethereum Technical Analysis: ETH Bulls Press Forward Hinting at Possible Reversal

Report: Nigerian Central Bank Incentive Scheme Failed to Halt Naira Depreciation

July 7, 2022 Bitcoin.com

bitcoin.com

The Central Bank of Nigeria (CBN)’s attempt to incentivize the country’s forex market through the so-called “Naira for Dollar” scheme has failed. This is evidenced by the local currency’s plunge of more than 25% since the launch of the incentive scheme in March 2021. Naira Depreciation The CBN’s scheme that encourages recipients of cross-border remittances […]

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Ethereum Technical Analysis: ETH Bulls Press Forward Hinting at Possible Reversal

Nigerian Presidency: Vice President Yemi Osinbajo Against ‘Willy-Nilly Devaluation of the Naira’

October 15, 2021 Bitcoin.com

bitcoin.com

The Nigerian presidency has denied reports that the country’s Vice President (VP), Yemi Osinbajo, was calling for the devaluation of the local currency when he recently questioned the naira’s official exchange rate. The Huge Arbitrage In fact, according to a report that quotes Laolu Akande, the VP’s assistant, Osinbajo is against “a willy-nilly devaluation of […]

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Ethereum Technical Analysis: ETH Bulls Press Forward Hinting at Possible Reversal

Nigerian Vice President Says Current Naira Exchange Rate ‘Artificially Low’

October 12, 2021 Bitcoin.com

bitcoin.com

Nigerian Vice President Yemi Osinbajo recently warned that the country’s official naira exchange rate of N411 for every dollar is artificially low. This exchange rate, according to Osinbajo, discourages foreign exchange entrance into the country. Naira Exchange Rate Must Reflect Realities of Market Consequently, Vice President Osinbajo says he wants the Central Bank of Nigeria […]

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Ethereum Technical Analysis: ETH Bulls Press Forward Hinting at Possible Reversal

Nigerian Lawmaker Proposes Closure of All Domiciliary Accounts in Order to Save Imperiled Naira

September 30, 2021 Bitcoin.com

Abokifx

Nigerian lawmaker Ibrahim Obanikoro has called on Nigerian authorities to “close all domiciliary accounts for the next 12 months.” Such a move, he argues, will help to ease pressure on the naira, which has depreciated by more than 10% in the past two months. The Naira’s Continuing Depreciation The call by Obanikoro comes nearly two […]

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Ethereum Technical Analysis: ETH Bulls Press Forward Hinting at Possible Reversal

Nigerian Central Bank Threats Force Parallel Exchange Rate Tracker to Suspend Service

September 20, 2021 Bitcoin.com

Abokifx

Following threats from the Central Bank of Nigeria (CBN), the management of Abokifx, a website that tracks the Nigerian currency’s black market exchange rates, has announced the suspension of their daily updates. This suspension will remain in effect until Abokifx gets “better clarity of the situation,” management said on September 17, 2021. Tracking of Parallel […]

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Ethereum Technical Analysis: ETH Bulls Press Forward Hinting at Possible Reversal