Currency in Circulation Falls 2.6tn to 2.59tn in Five Months The total amount of currency-in-circulation in the country dropped from N2.6tn (N2,603,266m) as of the end of June 2023 to N2.59tn (N2,595,761m) as of the end of July 2023. This is the first time the figure...

CBN Launches FX price verification system portal The Central Bank of Nigeria has introduced a foreign exchange price verification system designed for importers to have access to forex. The apex bank in a statement from its Trade and Exchange Department on Thursday night, said a price...

Naira Trades 845/dollar at Parallel Market Today The naira rebounded against the United States dollar at the parallel market, closing at 850/dollar on Wednesday. This came about two days after the Central Bank of Nigeria announced its planned intervention in the foreign exchange market. The naira was...

Alleged N6.9bn Fraud: Court Reschedules Emefiele's Arraignment The arraignment of suspended Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, at the Federal Capital Territory (FCT) High Court in Abuja over N6.9 billion alleged procurement fraud has been stalled due to the absence of the second...

Court Strikes Out 'Illegal Possession of Firearm' Charge Against Emefiele The Federal High Court sitting in Lagos on Thursday struck out the illegal possession of firearms charge filed by the Federal Government against the suspended Central Bank of Nigeria (CBN) Governor Godwin Emefiele. Justice Nicholas Oweibo...

CBN Governor Blames Speculators for Naira's Free Fall The Central Bank of Nigeria (CBN) Acting Governor, Folashodun Shonubi, has said the Bank is taking proactive measures to halt the depreciation of the Naira, with imminent interventions set to be unveiled within the coming days. The Acting...