Nigeria: Supreme Court extends validity of old naira bills
The Supreme Court on Friday extended the validity of old banknotes in Nigeria, invalidating a government directive that has been causing a severe cash shortage […]
naira
Nigerian president to keep small denominations of the old naira in circulation
Nigerian President Muhammadu Buhari on Thursday ordered the continued circulation of low-denomination banknotes, recently replaced by new ones, in order to limit the cash shortage […]
Nigeria’s Electoral Commission confirms that elections will be held
Nigeria’s Electoral Commission (Inec) said Wednesday that the presidential election will be held as scheduled on February 25 despite massive shortages of gasoline and new […]
Banknote shortage in Nigeria: riots break out in the South West
Abeokuta, in southwestern Nigeria, was the scene of scuffles between protesters and police on Tuesday, when a crowd of angry youths attacked a bank facing […]
Police arrest Nigerian man who wanted to sell himself at auction
Islamic police in Nigeria have arrested a man who wanted to sell himself at auction to escape poverty, local authorities said Wednesday. A 26-year-old tailor, […]
Nigeria: the Lagos Stock Exchange records its best performance in the last fifteen years despite the severe recession
It’s Christmas ahead of time at the Lagos Stock Exchange in Nigeria. On Tuesday, October 6, the index of the thirty largest stocks jumped by […]
Buhari presents record $28 billion budget for 2018
Nigerian ailing President Muhammadu Buhari on Tuesday presented a record $28.16 billion budget for 2018 to the National Assembly. Africa’s leading oil producer has been […]
Less than 1% of Naira Notes are Fake – Nigeria’s Reserve Bank
The Central Bank of Nigeria (CBN) on Tuesday said less than one percent of the west-African nation’s local currency in circulation is fake. The reserve […]
Dangote Lost 35% of his Wealth in 2016 – Bloomberg
The fortune of Aliko Dangote, Africa’s richest man, has fallen by 35% in 2016, on the back of a commodities slump coupled with falling stock […]
Nigeria’s Central Bank Suspends 9 Banks from the FX Market
Nine banks in Nigeria have been barred from the foreign exchange market, local news reported on Wednesday. The move comes after the banks reportedly failed […]