State of fiat
Nigeria seeks $1.5 billion World Bank loan to ease forex shortage
Nigeria’s Finance Minister added that the country is also looking to tap into the Eurobond market this year if rates fall.
Jan 26, 2024
Nigeria's naira crisis
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The Nigerian naira's record devaluation and the cascading economic reforms it triggered — from the CBN's cashless push and cash withdrawal limits through Tinubu's post-inauguration reforms, exchange rate unification and desperate loan-seeking from the World Bank and AfDB.
State of fiat
Severely devalued naira expected to perform at poorest ever in 2024 — Bloomberg
The naira was one of the worst-performing currencies in 2024, and experts see the trend continuing in 2024.
Jan 11, 2024
State of fiat
Central Bank of Nigeria to tackle inflation by mopping up excess liquidity in banking system
Cardoso said that the previous CBN administration deployed unorthodox policies, resulting in an uptick in inflation.
Nov 30, 2023
State of fiat
Nigeria secures $1 billion concessionary loan from African Development Bank
The Federal Executive Council also approved a total limit of 2 trillion naira for the Ministry of Finance to reduce the country's debt servicing.
Nov 29, 2023
State of fiat
Nigeria is expecting $10 billion forex liquidity ‘within weeks,’ finance minister says
The naira has been on a free fall due to foreign exchange shortfalls. The government is looking to fill the gap with the expected inflow.
Oct 25, 2023
State of fiat
Nigeria in talks for $1.5 billion World Bank loan — Finance minister
The finance minister expects the loan deal to be finalized soon.
Oct 20, 2023
State of fiat
South Africa on track to overtake Nigeria as Africa’s largest economy in 2024 — IMF
Tough economic measures have seen Nigeria’s economy shrink in the short term, but growth is foreseeable in the medium term.
Oct 20, 2023
State of fiat
Nigeria’s oil sector looking to attract billion-dollar FDI
Nigeria recorded $47.60 million in FDIs for the first quarter of 2023, signifying a 69.28 percent year-on-year decline.
Jul 19, 2023
State of fiat
Diaspora remittances can now be received in naira — CBN
The move is the latest in a series of policies implemented by Nigeria’s new administration.
Jul 13, 2023
State of fiat
Nigeria’s new economic reforms an opportunity to achieve growth — World Bank
However, the bank advised that measures must be put in place to protect low-income households.
Jul 5, 2023
State of fiat
Why the Nigeria-China currency swap deal has failed to stabilize the naira
The deal was to reduce the demand for U.S. dollars and strengthen the value of the naira.
Apr 26, 2023
Payment rails
ConsenSys partners with MoonPay to enable crypto purchases in Nigeria directly in MetaMask
The new feature allows users in Nigeria to buy crypto without setting up a centralized exchange account. But appears to be more expensive than using an exchange.
Mar 22, 2023
ANALYSIS
Payment rails
ANALYSISExclusive: How blockchain is processing $1 million worth of ATM transactions daily in Nigeria
A look behind the scenes detailing how Zone Network’s blockchain solution is processing millions of dollars in ATM transactions for four Nigerian banks.
Feb 3, 2023
Bitcoin
Fact check: Bitcoin is NOT trading at a 60% premium in Nigeria
A narrative has been doing the rounds that bitcoin is trading at a significant premium in Nigeria. A deeper look at how FX works in Nigeria reveals flaws in the bitcoin premium story.
Jan 30, 2023
ANALYSIS
Policy
ANALYSISThe Nigerian government is unwittingly driving crypto adoption
Nigeria's apex bank recently limited cash withdrawals in a display of excessive force. It leaves citizens at the mercy of banks to access their money.
Dec 8, 2022