Naira Redesign: Reminiscing on Lessons Learnt from a Controversial Policy, by Rahma Olamide Oladosu
In late 2022, the Central Bank of Nigeria (CBN) introduced an ambitious policy to redesign the naira, targeting three major denominations: ₦200, ₦500, and ₦1,000 notes. The initiative aimed to address...
SPECIAL REPORT: Cash Crunch, Exorbitant POS Charges in the Face of ATM Shortages
By Economic Confidential Crew
The banking system in Nigeria has undergone significant transformations since the 1990s. Gone are the days of tedious paperwork and long queues that usually snaked from the bank's...
Currency in Circulation Hits N4.8trn Amidst Cash Crunch
The total currency in circulation in Nigeria reached N4.8 trillion in November 2024, up 7% from the previous month and representing an all-time high.
Also, currency outside banks grew significantly in the same month hitting an all-time high of N4.6...
Cash Crunch Persists Amid N3.4trn in circulation
As current naira scarcity enters its third week, economic experts including Dr Muda Yusuf, CEO of the Centre for Promotion of Private Enterprise (CPPE) has asked the Central Bank of Nigeria (CBN) to find a lasting solution to...
Insurance Sector Shrinks By 7% Over Cash Crunch – NBS
The insurance sector’s growth fell by 7.25 per cent in the first quarter of 2023, the latest figures obtained from the National Bureau of Statistics (NBS) have revealed.
The NBS disclosed in its ‘Nigeria Gross Domestic...
Cash Crunch: Lafarge, Bua Foods Lament Impact on Q1 Results
At least two manufacturers in the Nigerian economy, Lafarge Africa Plc and Bua Foods Plc have highlighted the cash crunch and the 2023 general elections as challenges that they faced in their operations in the...
