Zimbabwe Plans to ‘Float’ Rapidly Depreciating Gold-Backed Currency
Zimbabwe has said it plans to let its rapidly depreciating gold-backed currency, Zig, float freely…
Nigeria’s Currency Plunges as Dollar Liquidity Dries Up: Will a Naira-for-Crude Oil Swap Revive It?
The Nigerian naira recently hit a new low against the U.S. dollar, ranking among the three…
World Bank: Nigeria Loses $8B on Foreign Exchange Subsidies Over 3 Years
The World Bank reports that Nigeria lost over $8 billion due to the Central Bank of Nigeria’s…
Nigeria Receives Nearly $100,000 From Unlicensed Crypto Firms
The Nigerian government received nearly $100,000 from two cryptocurrency firms accused of conducting…
Nigeria Injects $543.5M to Shore up Naira
The Central Bank of Nigeria (CBN) injected $543.5 million into the Nigerian foreign exchange market…
Nigeria Introduces System to Boost Forex Market Transparency
The Central Bank of Nigeria (CBN) is launching a new electronic system (EFEMS) to improve…
Inflation, Dollar Shortage Fuel Stablecoin Use in Sub-Saharan Africa
Stablecoins are surging in popularity across Sub-Saharan Africa, accounting for 43% of crypto…
Ghana Launches Gold Coin Priced in Local Currency
Ghana’s central bank launched a gold coin to boost domestic savings and manage liquidity. The…
Zimbabwe Devalues Gold-Backed Currency by 44%
The Reserve Bank of Zimbabwe (RBZ) has devalued the Zimbabwe Gold (Zig) by 44%, causing the currency…
