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Naira Abusers Risk Six Months in Jail- CBN

The Central bank of Nigeria has warned that abusers of the Naira at social events risk imprisonment or an imposition of fine. The apex bank noted in a statement issued...

CBN disburses N237bn banknotes to merchants, others in 2019

The Central Bank of Nigeria (CBN) has disbursed lower denomination banknotes worth N237.14 billion to microfinance banks (mfbs), merchants, shopping malls, market...

Naira plunges as dollar sells for N412

Following the temporary suspension of sale of forex to Bureau De Change, dollar exchanged for N412 on Monday. The Central Bank had granted the BDCs two weeks market...

CBN says no need for the devaluation of Naira

The Central Bank of Nigeria (CBN) has dismissed reports of devaluation of the naira, which has since triggered panic in the FX Market, bringing the local currency down...