The Nigerian government may be considering clamping down on cryptocurrency trading platforms to stabilise the naira amid a foreign exchange crisis.

President Bola Tinubu has hinted of plans by his administration to create millions of jobs by unlocking Nigeria’s vast public assets with a view to optimising and doubling the country’s Gross Domestic Product (GDP). 

The Nigerian government has announced plans to raise at least $10 billion in order to increase foreign exchange liquidity, which will, in turn, stabilise the naira.

The parallel section of the foreign exchange market recorded a new all-time low on Monday after the naira depreciated to N1,730 per dollar. The naira fell by 8.13 percent from N1,600/$ recorded on February 16, 2024.

The Ohanaeze Youth organization has launched a strong defence of former Central Bank of Nigeria Governor Godwin Emefiele, vehemently denying accusations that his policies contributed to Nigeria's current economic woes. The group further alleged that Senator Godswill Akpabio's criticism stems from personal motives rather than genuine concern. In a statement made available to The Guardian,…

The International Monetary Fund (IMF) has warned Nigeria of a potential 44% inflation rate due to the worsening value of the naira.

Against the backdrop of recent protests in Kano and Niger states over the level of suffering Nigerians are currently experiencing, Civil Society Organisations (CSOs) and some other stakeholders have warned President Bola Ahmed Tinubu against joking with the development.

Nigerians spent over $40 billion to access education and healthcare abroad between 2010 and 2020, governor of the Central Bank of Nigeria (CBN), Oluyemi Cardoso, disclosed yesterday, noting that the high number of Nigerians in foreign schools

Like every other sector, the building and construction industry may be witnessing one of its worst moments, as exchange rate, building materials, and labour prices have triggered an increase in construction costs by 200 per cent in the last two years.

There are no plans to convert an estimated $30billion domiciliary deposits into naira, the Central Bank of Nigeria (CBN) has said.The acting Director, Corporate Communications of the apex bank, Mrs.HakamaSidi-Ali..

The Center for Fiscal Transparency and Integrity Watch (CFTIW) on Saturday raised the alarm over the free fall of the naira and its adverse effects on Nigerians and the economy. The Central Bank of Nigeria (CBN) has issued regulations to mitigate the forex crisis, the recent being a circular directing the "Harmonisation of Reporting Requirements…

Nigeria's central bank has said there was no plan to convert the funds in domiciliary accounts to naira. Media reports had claimed that the bank planned to convert about $30 billion in the accounts to naira to halt the Nigerian currency's free fall. "This news is fake," CBN said on its X account said on…