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Category naira depreciation

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Nigerian Agency Gets Nod to Freeze $330,000 in Crypto Users’ Bank Accounts

Nigerian Agency Gets Nod to Freeze $330,000 in Crypto Users’ Bank Accounts

A Nigerian anti-corruption agency froze bank accounts (over $330,000) belonging to suspected cryptocurrency users on global platforms like Kucoin a...
Sep, 11, 2024
by Bitcoin News
Nigerian Firms Forecast Further Naira Depreciation

Nigerian Firms Forecast Further Naira Depreciation

A recent Central Bank of Nigeria survey reveals that Nigerian businesses expect the naira to weaken further before strengthening in late 2024 or ea...
Aug, 24, 2024
by Bitcoin News
Nigeria Acts to Defend Naira After Currency Hits New Record Low

Nigeria Acts to Defend Naira After Currency Hits New Record Low

The Central Bank of Nigeria recently sold U.S. dollars to Bureaux de Change (BDC) at a flat rate of NGN1,450 per greenback. The central bank stated...
Jul, 21, 2024
by Bitcoin News
Nigeria’s Naira Rated Worst-Performing Currency in H1 of 2024; Kenyan Shilling Named Best Performer

Nigeria’s Naira Rated Worst-Performing Currency in H1 of 2024; Kenyan Shilling Named Best Performer

In the first half of 2024, the Nigerian currency depreciated by nearly 40%, making it the worst-performing currency during that period. Meanwhile, ...
Jun, 30, 2024
by Bitcoin News
Nigerian Central Bank Refutes Claims It Plans to Redenominate the Naira in 2024

Nigerian Central Bank Refutes Claims It Plans to Redenominate the Naira in 2024

The Nigerian Central Bank has denied claims in a widely circulating text message that it plans to redenominate the naira starting in January 2024. ...
Nov, 02, 2023
1 min read
by Bitcoin News