Naira Appreciates to ₦1,540 Against Dollar in Black Market The naira strengthened against the US dollar on Friday, August 15, gaining ₦20.33 in the parallel market. Currency traders in Abuja told Economic Confidential that reduced demand for dollars contributed to the local currency’s marginal rebound. The...

Naira Depreciates to 1560/$ in Black Market  The naira extended its decline against the US dollar on Thursday, August 14, marking a sustained fall in the parallel market since trading resumed on Monday. Currency dealers in Abuja told Economic Confidential that high demand kept exchange rates...

In a period when the Nigerian currency, the Naira, has faced unprecedented challenges and global economic headwinds, the Central Bank of Nigeria (CBN) has demonstrated unwavering resilience. Despite the some worth unstable nature of the currency, the apex bank has not shown any signs of fatigue.

CBN Set to Revive eNaira, Expand Digital Financial Services The Central Bank of Nigeria (CBN) is working on reviving the eNaira project as it reaffirms its commitment to building trust and expanding digital financial services access in the country. Nigeria’s Central Bank Digital Currency, eNaira, was...

Naira Weakens to ₦1,555/$ in Black Market Amid Rising Dollar Demand The naira slipped further against the US dollar on Wednesday, August 13, reversing some of the gains recorded in the parallel market earlier in the week. Currency dealers in Abuja told Economic Confidential that high...

CBN Trains Manufacturers, Others on Alternative Payment Channels  The Central Bank of Nigeria has reaffirmed its commitment to expanding financial inclusion and driving economic growth by promoting the adoption of alternative payment channels. The apex bank expressed this commitment at a sensitisation exercise termed ‘CBN Fair’...