Nigerian Currency Reverses Early April Gains, Depreciating by 12% in Seven Days
The Naira recently depreciated by 12% in just seven days, thus shedding all the gains it made…
Nigerian Central Bank Governor Denies Using Forex Reserves to Defend Local Currency
The Nigerian central bank governor has refuted claims that the bank is using the country’s…
Nigerian Central Bank Prohibits Use of Foreign Exchange as Collateral for Local Currency Loans
The Central Bank of Nigeria has barred the use of foreign exchange as collateral for local currency…
Zimbabwe’s Central Bank Launches Gold-and Forex-Backed ‘Structured Currency’
The Reserve Bank of Zimbabwe has introduced a foreign exchange and gold-backed “structured…
Court Orders Binance to Hand Over ‘Comprehensive’ User Data to Nigerian Authorities
A Nigerian high court has ordered Binance to provide the Economic and Financial Crimes Commission…
Economic Intelligence Unit: Nigerian Central Bank Lacks Capacity to Defend Local Currency
The Economic Intelligence Unit has stated that the Central Bank of Nigeria cannot halt the rapid…
Egypt Devalues Currency, Raises Interest Rates to Fulfill Key IMF Aid Requirement
Authorities in Egypt recently allowed the local currency’s exchange rate versus the U.S. dollar to…
Nigerian Users Criticize Binance for Imposing Exchange Rate Caps on USDT to Naira Transactions
Some Nigeria-based users of Binance’s peer-to-peer platform have blasted the crypto…
Nigeria’s Headline Inflation Increases as Central Bank Intensifies Foreign Exchange Controls
In the first month of 2024, Nigeria’s headline inflation rose from nearly one percent to…
