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Naira

EFCC to Enforce Laws Against Dollarization of the Economy, Naira Mutilation

EFCC Initiates Measures to Combat Currency Mutilation and Dollarization, Protecting Economic Stability.   The Economic and Financial Crimes Commission (EFCC) has taken decisive action to clamp down on currency mutilation and the dollarization trend in Nigeria’s economy. Announced via the…

Naira Face Fierce Dollar Amid Improved FX Liquidity

Naira’s Struggle Persists Despite Increased Liquidity: Market Insights.   The Nigerian naira is grappling with challenges as it hovers near its all-time low, despite a boost in liquidity from a $2.2 billion facility provided by the African Import Export Bank…

Surge in Currency Circulation: N890 Billion Increase in Three Months Under Governor Cardoso

The Central Bank of Nigeria’s (CBN) latest money and credit statistics indicate a notable upswing in the amount of currency in circulation (CIC), showing an increase of approximately N890 billion between September 2023 and December 2023. This surge, observed during…

Naira Depreciation Threatens 2023 Dividends for Companies with Foreign Liabilities – Operators

Naira Depreciation Threatens 2023 Dividends: Expert Insights on Impact and Strategies.   In light of the recent free fall of the Naira and its potential repercussions on the capital market, some key insights from market experts shed light on the…

Forex Turnover Hits $242.60M as Naira Gains Marginally to N1,082.32/$1 in Official Market

The forex turnover witnessed an impressive surge of 148.95%, reaching $242.60 million, fueled by a marginal gain of the Naira against the dollar on January 10, 2024. The official market maintained its position above the N1,000/$ threshold, showcasing a 0.66%…