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On Legitimacy and Legacy: Tinubu’s head and Troubles ahead (3)
Besides the high food inflation rate, the high population growth rate could also be responsible for Nigeria’s food insecurity.
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Naira, Naija, and Nigeria at 63
It is ironic now that the countries Nigerians now troop into for refuge from the Naira are those that still bow to the British Crown.
Is there an end to the Naira’s depreciation after Free-floating FOREX rate?
To promote stability and transparency in foreign exchange operations, the exchange rates have been harmonised.
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Cash outside banking system hits 88%, CBN fumes
Nigerians encountered challenges with the apex bank policy, with failed transactions, poor network and lack of cash dotting the country’s landscape between January and March.
Can Tinubu break the dollar conundrum?
The importation of refined petroleum has significantly contributed to the country’s import bill, which requires foreign exchange. A review of the OEC data shows that refined petroleum took 18.3 percent of the country’s import bill in 2021.
Nigeria’s currency in circulation is lowest in 15 years
Its naira redesign policy has led to frustrations as businesses and households struggle to access their cash at banks to make daily transactions.
Emefiele panics, mandates banks to dispense old naira notes
The CBN Governor, Godwin Emefiele, might have relied on Buhari’s body language to create one of the worse cash crisis in Nigeria’s recent history. But a statement by the presidential spokesman, Garba Shehu, on Monday, might have jolted him, according to a market analyst, Ike Ibeabuchi, who spoke with Dataphyte at night.
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Nigerians groan as poor implementation mars CBN cashless policy (2)
…the plight of Persons With Disabilities
Nigerians groan as poor implementation mars CBN’s cashless policy(1)
Nigeria’s cashless policy has since cause a lot of ‘discomfort’ despite the touted advantages by the apex bank.
Cash redesign policy fails to halt naira free fall
Contrary to the views expressed by some financial experts that the Central Bank of Nigeria (CBN)’s naira redesign policy will strengthen the currency, it has turned out to weaken it against the dollar.
Cash crunch likely to influence vote-buying during 2023 elections
With the current cash shortages amid an election, what is the fate of the election, given the history of vote-buying in previous elections?
Cash-strapped Nigerians besiege POS locations despite over 20% charges
Cash-strapped Nigerians are thronging point-of-sale shops despite over 20 percent charged on every withdrawal
Volume of e-payment transactions reflects Nigeria’s cashless policy progress
The volume of e-payment transactions in the last 10 years show that Nigeria has made progress on the cashless policy.
Naira redesign: N200 constitutes 9.2% of seven-year currency in circulation
In the seven years reviewed, the lowest number of N200 notes was recorded in 2015 when 401.63 million pieces were put into circulation. This year, N1000 and N500 have had the highest volumes in circulation, with 1.011 billion and 1.322 billion pieces, respectively.
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Anger spreads as CBN-induced cash crunch bites rural communities
Meanwhile President Muhammadu Buhari has asked the CBN to re-circulate old N200 notes till April 10 to enable Nigerians heave a sigh of relief. He said this during his broadcast on Thursday morning, noting that he was concerned about the impact of the monetary policy. He said those in possession of old N500 and N1000 notes could return them to the CBN by April 10.