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Nigeria Naira

Naira: It’s currency adjustment, not devaluation – central bank

The Central Bank of Nigeria (CBN) said Friday’s decision to peg the exchange rate of the Naira at N380 to the dollar is not a devaluation of the Nigerian currency.
The House of Representatives is calling for the postponement of the National Sports Festival scheduled to hold next week in Edo State.

House of Reps to probe central bank’s anchor borrowers’ scheme

The House of Representatives has resolved to investigate the Anchor Borrowers’ Scheme(ABS) of Central Bank of Nigeria (CBN) over non-recovery of N81.5 billion from companies.
Dr Chris Ngige, Minister of Labour and Employment said this while fielding questions on television concerning the time for payment of the new wage.

Coronavirus: Nigeria suspends recruitment exercises

As parts of efforts to contain the effects of the coronavirus on the nation’s economy, the Nigerian government on Wednesday announced plans to halt recruitment exercises in the public service.
Nigeria Naira

Naira bounces back after days of depreciation

The naira appreciated against the dollar on Friday after days of panic buying amid speculations that the Nigerian central bank may devalue the local currency.

CBN: Nigeria won’t devalue Naira

Central Bank of Nigeria, CBN, Thursday night said it has enough foreign exchange reserves to maintain the current value of the naira and warned currency speculators to stop rumour mongering and causing panic in the market.
The Speaker of the House of Representatives, Rep. Femi Gbajabiamila (APC-Lagos), has announced the demise of a former member of the house, Rep. Tony Okey. 5

Forex racketeering: House of Reps probe CBN, FIRS, others over $30 billion leakages

The House of Representatives has resolved to investigate the Central Bank of Nigeria and the Federal Inland Revenue Service over alleged racketeering in the allocation of foreign exchange to companies.

Police arrest man over alleged possession of fake currency

The Police in Jigawa have arrested a 33-year-old man over alleged possession of fake currency in Kazaure Local Government Area of the state.
Dollar

North America, Mexico suffer $44 billion loss to forex

At a time when the global economy is slowing and trade wars are raging, currency volatility is a critical way companies are losing ground to their competitors.
The CFA franc is facing growing opposition in parts of West and central Africa. Critics say the common currency has hampered the region's economic growth while France profits.

West African countries rename common currency, sever its links to France

Eight West African countries Saturday agreed to change the name of their common currency to Eco and severed the CFA franc’s links to former colonial ruler France.
Leicester City attacking midfielder James Maddison has heaped praises on teammate Wilfred Ndidi for his contributions towards the team’s 2-0 victory against Arsenal at the King Power Stadium on Saturday.

Wilfred Ndidi market value hits N17.73 billion

The Nath Boys product is ranked number 53 among all the players in the Premier League, has a global ranking of 131, fourth most valuable Leicester City player, 10th most valuable defensive midfielder in the world and ranked number 16 among all players born in 1996.
U.S. President Donald Trump said Tuesday a new trade agreement with China might have to wait until after the November 2020 presidential election, with Washington and Beijing stymied in reaching a negotiated end to their two-year trade and tariff conflict.

Donald Trump: US-China trade deal might wait till after 2020 election

U.S. President Donald Trump said Tuesday a new trade agreement with China might have to wait until after the November 2020 presidential election, with Washington and Beijing stymied in reaching a negotiated end to their two-year trade and tariff conflict.
Sporadic protests have broken out in a number of Iranian cities after authorities announced a surprise decision to ration and increase the price of petrol as part of efforts to offset the effect of crippling US sanctions.

Protests erupt after Iran hikes petrol prices

Sporadic protests have broken out in a number of Iranian cities after authorities announced a surprise decision to ration and increase the price of petrol as part of efforts to offset the effect of crippling US sanctions.

Central bank stabilises naira with $25.68 billion in eight months

The Central Bank of Nigeria injected about $25.68bn to stabilise the nation’s currency in the foreign exchange market between January and August this year.
China is scouring the world for meat to replace the millions of pigs killed by African Swine Fever (ASF), boosting prices, business and profits for European and South American meatpackers as it re-shapes global markets for pork, beef and chicken.

China reshapes global meat markets as swine fever rages

China is scouring the world for meat to replace the millions of pigs killed by African Swine Fever (ASF), boosting prices, business and profits for European and South American meatpackers as it re-shapes global markets for pork, beef and chicken.
President of the Senate, Ahmad Lawan, presiding over the plenary in the upper chamber on Thursday, 3rd October, 2019.

Senator Lawan: NDIC Act will receive accelerated action

Senate President Ahmad Lawan has assured that the bill to amend the Nigeria Deposit Insurance Corporation (NDIC) Act will receive an accelerated hearing to ensure efficiency in the banking system.

CBN: N98.82 million fake banknotes detected in 2018

The Central Bank of Nigeria on Wednesday said a total of 119,663 pieces of counterfeit notes with a nominal value of N98.82m was recorded in 2018.
Benjamin Onwuka

Biafra Zionists vow to launch new currency

The Biafra Zionists Federation, BZF, has disclosed plans to launch new currency as part of their push for a Republic of Biafra.
Zimbabwe President elect Emmerson Mnangagwa smiles in the garden of The State House in Harare on August 3, 2018, at the end of a press conference. Mnangagwa defended the landmark election in which he was declared victorious, despite claims from the opposition of vote-rigging. / AFP PHOTO / MARCO LONGARI

Zimbabwe’s leader begs for patience to fix ailing economy

President Emmerson Mnangagwa has acknowledged the economic hardships Zimbabweans are suffering and pleaded for patience to allow his government to fix the country's rapidly deteriorating economy.

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The Speaker of the House of Representatives, Rep. Femi Gbajabiamila (APC-Lagos), has announced the demise of a former member of the house, Rep. Tony Okey. 7

Speaker Gbajabiamila: Chinese doctors must be quaratined

Speaker Femi Gbajabiamila on Monday insisted the Chinese doctors coming to help in the fight against COVID-19 must first be quarantined for 14 days and comply with all relevant laws in the country.
Gov. Andrew Cuomo said New York will postpone its April 28th presidential primary election until June 23rd, as the Empire State deals with the largest coronavirus outbreak in the US, the New York Times reports.

New York increases fine for violating social distancing guidelines to $1,000

New York Governor, Andrew Cuomo, on Monday said that fines for violating social distancing guidelines would be increased from $500 to $1,000.
The countries according to the Minister of Interior, Rauf Aregbesola, are China, Italy, Iran, South Korea, Spain, Japan, France, Germany, Norway, the United States of America, the United Kingdom, Netherlands and Switzerland.

Nigeria declares April 10, 13 as Easter holidays

The Federal Government has declared Friday, April 10 and Monday, April 13 as public holidays to mark the 2020 Easter Celebration.
Abdullahi Umar Ganduje

Kano coronavirus fund raising committee hits N400 million

The COVID-19 Fund Raising Committee constituted by governor Abdullahi Umar Ganduje of Kano state submitted its interim report on Monday, saying it had raised almost N400m.
The Embassy of Japan, in collaboration with a Non-Governmental Organisation (NGO), Street To School Initiative, has unveiled a newly renovated ultra-modern Primary Healthcare Centre (PHC) for residents of Surulere Community in Agbado-Oke-Odo, Lagos

Japan donates $236, 000 for humanitarian mine action in Northeast

The United Nations Mine Action Service (UNMAS) has received a donation of $236, 363 from the Government of Japan to support the UNMAS Nigeria in providing critical life-saving humanitarian assistance to civilians and humanitarian actors in the Northeast.