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Nalezeno "Naira": 216

Nigeria’s CBN Calls 5,000 and 10,000 Naira Banknote Report ‘Fake News’


The Central Bank of Nigeria (CBN) has dismissed as fake news a report stating it issued ₦5,000 and ₦10,000 banknotes to enhance cash transactions. The CBN said the report, circulating on social media and claiming the new banknotes would become legal tender on May 1, 2025, did not originate from...

Nigeria Receives Nearly $100,000 From Unlicensed Crypto Firms


The Nigerian government received nearly $100,000 from two cryptocurrency firms accused of conducting unlicensed conversions of tether (USDT) to naira and vice versa. The two Nigerian cryptocurrency firms, Paparaxy Global Ventures Limited and Lemskin Technologies Limited were accused of operating...

Nigeria Injects $543.5M to Shore up Naira


The Central Bank of Nigeria (CBN) injected $543.5 million into the Nigerian foreign exchange market between September 6th and 30th to address currency volatility. The bank attributed the volatility to high demand for imports and seasonal factors. Nigeria is facing foreign exchange shortages and...

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