News with the tag "Bola Ahmed Tinubu"

President Joe Biden thanked Nigerian President Bola Tinubu for securing the release of American citizen Tigran Gambaryan, a former U.S. law enforcement official and Binance employee, on humanitarian grounds. Gambaryan spent eight months in Nigerian detention, where his deteriorating health and alleg...

Nigeria’s economic scene is showing signs of revival, sparked by a series of bold financial strategies by the Central Bank of Nigeria (CBN) and the fresh policies of President Bola Tinubu. The country’s currency, the naira, is showing promising strength, and here’s the lowdown on what’s happening an...

The leader of Nigeria’s Association of currency exchangers has accused the crypto giant Binance of helping to worsen the local currency’s woes and asked authorities to consider banning the platform. The leader suggested that the optimism which ensued after Tinubu’s government floated the naira has n...

Why is Nigeria’s president investigating the central bank? It’s a question that has stirred the minds of many, and it goes far beyond mere curiosity. The story is a complex one, filled with intrigue, allegations, and a relentless pursuit of justice. A bold move against corruption Nigeria’s President...

The Central Bank of Nigeria (CBN) is altering the model of its central bank digital currency (CBDC), the eNaira, to encourage more usage. Despite the number of eNaira wallets increasing to 13 million between October 2022 and March 2023, the adoption rate remains low for a country with a population o...

The exchange rate of the Nigerian currency versus the greenback recently plunged to an all-time low of NGN860:USD1. The naira’s depreciation has been attributed to shortages of foreign exchange on the official market and the rising demand for forex. The Central Bank of Nigeria (CBN) said it has revo...

The Nigerian government declared a food price emergency after the latest data from the National Bureau of Statistics (NBS) showed that the country’s inflation rate had gone up by 0.38% to 22.79%. The NBS said the June inflation figure does not “fully capture the impact of the fuel subsidy removal an...

Nigeria’s President, Bola Tinubu, is spearheading an ambitious fiscal initiative to revamp the country’s tax regulations and improve revenue efficiency. The leader’s decisive action signifies a concerted effort to wean Africa’s largest crude oil producer off its borrowing dependency while boosting i...

Bank of America analysts have emphasized the need for immediate action to address Nigeria’s rising inflation and undervalued currency. Inflation is expected to accelerate due to the removal of fuel caps and the depreciation of the nation’s currency. According to these analysts, the central bank may ...

According to Bank of America analysts, the Nigerian currency is currently undervalued and will likely end the year trading at around NGN680 per dollar. The analysts assert that higher oil revenues and a liberalized import regime will likely see Nigeria record current account surpluses in the medium ...