1. Introduction Recent developments in the foreign exchange market in particular, and the overall economy in general, have prompted my writing this article on how to reduce the volatility in the value of the Naira. Exchange rate fluctuations rather than its level, cause more uncertainty in the market place. If exchange rate is stable, business...
•Old note and new naira The Central Bank of Nigeria has instructed all its branches nationwide to continue issuing various denominations of both old and redesigned banknotes in ample quantities to deposit money banks. The apex bank disclosed this in a statement signed by its Director, Corporate Communications, Isa AbdulMumin, and posted on its...
The naira crashed against the dollar yesterday, falling to 1, 030/$ on the average in the parallel market, losing the momentum it gathered last week. This represents a N80 loss or a 8.42 per cent decline of the local currency compared to the N950 it closed the week at last Friday, reports The PUNCH. This […]
The naira continued its rebound against the dollar today, strengthening to N950/$ on the average in the parallel market. This represents a N170 gain or a 15.18 per cent appreciation of the local currency compared to the N1,120 it traded for yesterday, reports The PUNCH. This is also the second day of recovery for the […]
The Central Bank of Nigeria, CBN, yesterday, assured Nigerians of sufficient stock of currency notes for economic activities in the country. It was earlier reported that as the December 31 deadline for the use of the old N200, N500 and N1000 banknotes approaches, scarcity of cash has hit Kano and Borno states as well as […]
All over social media, in the markets, commuter buses, among workers, and ordinary Nigerians and in conversations among kith and kin, there is lamentation. And it is all centred on the terrible financial situation of the nation. Even the intellectuals and other elite are not immune from the effects of the devastating worsening impact of [&hell...
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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