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3232Nigerian President Barred From Extending Old Naira Banknote Demonetization Deadline
https://www.digit.info/nigerian-president-barred-from-extending-old-naira-banknote-demonetization-deadline/
Thu, 09 Feb 2023 07:30:14 +0000https://www.digit.info/2023/02/09/nigerian-president-barred-from-extending-old-naira-banknote-demonetization-deadline/Read more]]>With just a few days left before the old naira banknotes are demonetized on Feb. 10 as scheduled, a court in Nigeria has blocked the country’s president, Muhammadu Buhari, and the central bank governor, Godwin Emefiele, from further extending the deadline. Opponents of the central bank’s old naira demonetization plan have asked Buhari and Emefiele […]
]]>Nigerian Central Bank Says It Will Release New Banknotes in December — Naira Falls to New Low
https://www.digit.info/nigerian-central-bank-says-it-will-release-new-banknotes-in-december-naira-falls-to-new-low/
Sat, 29 Oct 2022 07:30:21 +0000https://www.digit.info/2022/10/29/nigerian-central-bank-says-it-will-release-new-banknotes-in-december-naira-falls-to-new-low/Read more]]>Starting December 15, Nigerians will be using newly-designed 100, 200, 500 and 1,000-naira banknotes, the governor of the Central Bank of Nigeria (CBN) has said. The announcement has since resulted in the naira’s parallel market exchange rate versus the U.S. dollar dropping to a new low of N781:$1. Redesigning Currency a Global Best Practice The […]
]]>Report: Nigerian Anti-Graft Body Identifies Individuals Fueling the Naira’s Rapid Depreciation
https://www.digit.info/report-nigerian-anti-graft-body-identifies-individuals-fueling-the-nairas-rapid-depreciation/
Tue, 09 Aug 2022 08:10:49 +0000https://www.digit.info/2022/08/09/report-nigerian-anti-graft-body-identifies-individuals-fueling-the-nairas-rapid-depreciation/Read more]]>Nigeria’s Economic and Financial Crimes Commission (EFCC) recently claimed it had identified individuals and organizations whose rapid accumulation of U.S. dollars recently accelerated the depreciation of the local currency, a report said. According to Abdulrasheed Bawa, the EFCC chairman, his organization is currently going after foreign currency speculators in Kano, Lagos, Port Harcourt, Enugu, and […]
]]>Chairman of Nigerian Economic Crimes Commission: Crypto Growth Is a ‘Far Greater Danger to the World Economy’
https://www.digit.info/chairman-of-nigerian-economic-crimes-commission-crypto-growth-is-a-far-greater-danger-to-the-world-economy/
Wed, 08 Sep 2021 09:30:32 +0000https://www.digit.info/2021/09/08/chairman-of-nigerian-economic-crimes-commission-crypto-growth-is-a-far-greater-danger-to-the-world-economy/Read more]]>The chairman of Nigeria’s Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has singled out the growth of cryptocurrencies as something that now poses “a far greater danger to the world economy.” Therefore, in order to deal with such dangers or threats, Bawa advocates for a “collective and collaborative approach by authorities around the world.” […]