Nigeria’s currency has continued to experience free-fall against the Dollar two months after the Central Bank of Nigeria’s floating of the naira, a decision that has further worsened the woes of Africa’s largest economy.From June 14, when CBN liberalized the forex market, till date, the country’s currency has continued to slump against the Dollar from N750/$1 at the parallel market known as the black market to N950/$1 on Monday, August 14, 2023.The situation became...

The Central Bank of Nigeria (CBN, is set to release all N1,000, N500, and N200 notes in its custody to deposit money banks.A source at the CBN disclosed this to the Naijacrawl on Wednesday.According to him, the apex bank has concluded plans to disburse old notes to Deposit Money Banks across the country starting from Thursday (today).He added that the development would end the two-month-long Naira scarcity in Nigeria.This comes on the heels of the Nigeria Labour Con...

After several criticism from different quarters, the Central Bank of Nigeria (CBN) on Monday Night said old N200, N500, and N1,000 banknotes remain legal tender Till December 31, 2023.The apex bank’s Acting Director of Corporate Communications, Isa AbdulMumin stated this in a statement on Monday.“In compliance with the established tradition of obedience to court orders and sustenance of the Rule of Law Principle that characterized the government of President Muhamma...