eNaira: Accelerating Nigeria's Evolution into a Cashless Society, by Abdulrahman Abdulraheem   The concept of a cashless society has been the topic of discussion lately because the world is experiencing a rapid and increasing use of digital methods in recording, managing, and exchanging money in commerce,...

'Diaspora Nigerians Remitted $168bn In Eight Years'   The Nigerian Diaspora community has remitted $168.33bn to the country in the past eight years, according to World Bank reports collated by our correspondents. This is as foreign investments inflow into the country fluctuated in the period under review...

CBN Defends Forex Ban On Stockfish Importation   The Central Bank of Nigeria, has said that the foreign exchange restriction imposed on importation of stockfish was to resuscitate the domestic fishery industries, conserve foreign exchange (forex), and improve employment generation. This follows revelations by the Norwegian Seafood...

Currency Outside Banks Above N843bn – CBN   Due to the cash crunch which affected economic activities across the country, the Central Bank of Nigeria (CBN) has disclosed that the currency outside the bank vaults as at the end of February rose to N843.311 billion. This is...

CBN's $800m Cash Transfer Proposal: Another eNaira Masterstroke in Financial Inclusion, by Abdulrahman Abdulraheem   In my article titled, "eNaira: Simplifying Financial Inclusion for the Downtrodden" published on March 27, 2023, I wrote on President Muhammadu Buhari's determination to tackle three major problems confronting Nigeria in...

Currency in Circulation Increases By 71% To N1.6trn – CBN   The currency in circulation in the country jumped by N701.4tn in one month to hit N1.6tn in March, 2023 after the Central Bank of Nigeria reversed its policy on the naira redesign. According to the CBN,...