China makes constant progress in RMB internationalization
A vessel carrying 65,000 tons of liquefied natural gas (LNG) is unloaded at an LNG reception station of China National Offshore Oil Corporation in south China's Guangdong province, May 16. It is China's first yuan-settled LNG trade. (Photo by Li Jianqiang/People's Daily Online)
The Naira redesigned policy under former President Muhammad Buhari will be reviewed- Bola Tinubu
Bola Ahmed Tinubu, the new president, has promised to examine the naira redesign strategy of his predecessor, Muhammadu Buhari. In his Monday inaugural address at Abuja's Eagle Square, Tinubu made the news. In front of a mixed audience of government officials, dignitaries, and ordinary individuals, President Tinubu called the naira redesign "a harsh and hasty policy," despite acknowledging the significance of a stable and efficient currency system for economic growth and stability.
Daniel Bwala Reacts To Those Who Think That Godwin Emefiele And Mele Kyari Can Resolve Fuel Subsidy
In addition to practicing law, Daniel Hassan Bwala also writes, resolves disputes, and provides regulatory guidance. The American Bar Association is another organization to which he belongs. To practice law in England and Wales, he was granted permission by the Honorable Society of Lincoln's Inn in London.
Reactions Trail CBN's Statement Denying Reports Of Depreciation Of The Naira Against Dollar
Rufai Oseni, a well-known public affairs commentator and television host, recently shared an image of an official statement released by the Central Bank of Nigeria denying allegations that it had further depreciated the Naira versus foreign currencies on social media. Recall that on Thursday, June 1, 2023, media reports started circulating that the CBN, under the direction of Godwin Emefiele, had depreciated the Nigerian currency by 630 Naira to one Dollar.
Inauguration Speech:My Govt will review the Naira redesigned policy under former president-Tinubu
Bola Ahmed Tinubu, the newly elected president, has pledged to review the currency redesign strategy implemented by his predecessor, Muhammadu Buhari. During his inaugural address at Abuja's Eagle Square on Monday, Tinubu made headlines with his remarks. Addressing a diverse audience comprising government officials, dignitaries, and ordinary citizens, President Tinubu criticized the naira redesign as a hastily executed and harsh policy.
Reactions Trail CBN's Statement Denying Reports Of Depreciation Of The Naira Against Dollar
Rufai Oseni, a well-known public affairs commentator and television host, recently shared an image of an official statement released by the Central Bank of Nigeria denying allegations that it had further depreciated the Naira versus foreign currencies on social media. Remember that on As of June 1, 2023, according to media reports, Godwin Emefiele-directed CBN has caused a 630 Naira to one Dollar depreciation in the value of the Nigerian currency.
CBN denies reduction of Naira value from N461.6 to N631 per $1, makes clarification
A media story claiming that the Central Bank of Nigeria (CBN) has devalue the naira to N631 per dollar in the Importers and Exporters (I& E) window has been refuted. The apex bank denied devaluing the Naira and said the reports were false in a tweet sent out through its verified Twitter account on Thursday morning.
Punishment for Spraying Nigerian Naira Notes in Public Spaces
The Nigerian currency, the Naira, holds not only monetary value but also cultural significance as a symbol of national pride and unity. However, a concerning trend has emerged in recent years where individuals engage in the act of "spraying" Naira notes in public spaces, often during celebratory events.
Predicting Kingdom Coin's $1 Surge: A Promising Partnership Paves the Way for Profits
In the ever-evolving world of cryptocurrency, investors are constantly on the lookout for the next big opportunity. Today, we bring you an exciting prediction that is bound to capture the attention of both seasoned crypto enthusiasts and newcomers alike. We anticipate that the Kingdom Coin, a decentralized digital currency tailored for the Christian community, is poised to make a significant surge in value, potentially reaching $1 in the near future.
Tinubu hits ground running, removes fuel subsidy
The era of gasoline subsidies, according to President Bola Tinubu, "is over since they are no longer viable." In addition, "he vowed to unify the country's exchange rate windows and evaluate the previous administration's stance regarding the redesign of the naira."
Emefiele Meets Tinubu At Aso Rock
Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), is currently at the Presidential Villa in Abuja for a meeting with President Bola Tinubu. Daily trust report that, Tinubu, whose vehicle entered the villa at 2:30pm, inspected a parade by the Guards of Honour.
Emefiele Meets Tinubu At Aso Rock
Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), is currently at the Presidential Villa in Abuja for a meeting with President Bola Tinubu. Tinubu, whose vehicle entered the villa at 2:30pm, inspected a parade by the Guards of Honour , Later, he was welcomed by Emefiele, the Speaker of the House of Representatives, Femi Gbajabiamila, the Vice President Kashim Shettima, the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation Limited (NNPCL), Mele Kyari, and the Permanent Secretary of the State House, Tijjani Umar.
Naira Notes:My government will honour both currencies as tender for the time being-President Tinubu
Bola Ahmed Tinubu, who recently assumed the presidency, has pledged to review the currency redesign strategy implemented by his predecessor, Muhammadu Buhari. Tinubu's remarks on this matter were delivered during his inaugural address at Abuja's Eagle Square on Monday, attracting significant attention. Speaking before a diverse audience consisting of government officials, dignitaries, and ordinary citizens, President Tinubu characterized the naira redesign as a hastily implemented and harsh policy.
The Naira redesigned policy under former President Muhammadu Buhari will be reviewed- Bola Tinubu
President Bola Tinubu, in his inaugural address, has pledged to review the naira redesign policy implemented by former President Muhammadu Buhari. Tinubu described the policy as harsh and hasty while acknowledging the importance of a stable and efficient currency system for economic growth and stability. He emphasized the need for a thorough examination of monetary policy, including establishing a single exchange rate to prevent arbitrage and promote investment in infrastructure and human capital, essential for the economy's sustainability.
My Administration Will Treat Both Currencies As Legal Tender _ Bola Ahmed Tinubu
Today being the inauguration of the incumbent president of Nigeria Bola Ahmed Tinubu. He presented a speech to his citizens and in that speech he mentioned that the currency swap was too harshly applied by the CBN given the number of unbanked Nigerian. He also mentioned that the policy shall be reviewed and in the meantime his administration will treat both currencies as a legal tender.
Tinubu to revisit Emefiele's Design Naira Policy.
Today, the newly inaugurated Nigerian president stated that his Administration will revisit Governor Emefiele Design Naira policy during his inaugural speech at the Eagles Square in Abuja, Federal Capital Territory. According to him, “the currency swap was too harshly applied by the CBN given the number of unbanked Nigerians.
I’ll Review Buhari’s Naira Redesign Policy – Tinubu
President Bola Ahmed Tinubu has vowed to review the naira redesign policy of his predecessor. Tinubu made the vow in his inaugural address delivered at the Eagle Square, Abuja. Additionally, he declared that both new and used currency notes would be accepted as legal money. "Monetary policy needs a complete house cleaning," he remarked.
Naira Redesign: Massive Cash Hoarding Resumes
According to Vangaurd News report, in a concerning turn of events, Nigeria has witnessed a resurgence in the massive hoarding of cash following the recent announcement of the redesign of the national currency, the Naira. The decision to introduce a new currency design was aimed at enhancing security features and combating counterfeiting. However, the unintended consequence of this announcement has been a surge in cash hoarding, which poses significant challenges to the nation's economy and monetary stability.
CBN is working together with Google to establish Virtual Currency Museum
According to reports coming from VANGUARD, the Central Bank of Nigeria is working together with Google to establish a Virtual Currency Museum Gallery. In the report, the Deputy Governor, of Operations, Mr. Folashodun Shonubi, revealed this at the International Museums Day celebration, in Abuja, yesterday.
Naira Weakens Against Dollar, Hits New Low at N464
The Nigerian Naira experienced a negative start to the week as it depreciated against the dollar, reaching an exchange rate of N464 at the investors' and exporters' window. This represents a 0.36% decrease compared to the previous rate of N462.33. The continuous decline of the Naira against the dollar raises concerns about the stability of the Nigerian economy and its impact on various sectors.