“In Nigeria, the wealth of four billionaires (US $23.7 billion) could easily cover the whole of Lagos city in 500 naira notes. "Meanwhile, over 133 million people, about 70% of the ...

When the bank announced in October that the 1,000 ($2.18, £1.75), 500 and 200 naira notes were to be replaced, it said 80% of the notes in circulation were outside banks. The CBN believes that ...

It reached last night to rumours making the rounds that the old notes would crime to ... all versions of the ₦1000, ₦500, and ₦200 denominations of the Naira indefinitely.

The naira depreciated against the dollar at both the official and parallel foreign exchange markets, ending the week on a negative note ... on Wednesday set N1,500 per dollar benchmark for ...

Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso, has vowed to tackle the commoditisation ( buying and selling) of Naira notes, which has become widespread in the country.