Devaluation

The Nigerian Naira fell to a new low on the black market as it fell to N395 to the dollar on Monday. This comes on the heels of an announcement by the Central Bank of Nigeria (CBN), that it had adjusted the exchange rate for the first…

The “419”, otherwise known as advance fee fraud, scam is well-known in Nigeria for boasting empty promises of stupendous returns which induce victims to willingly part with their valued possessions. These fraudsters, ply their trade…

President Muhammadu Buhari has stated that he remains unconvinced that the devaluing of the naira would benefit Nigerians in any way. He said this while speaking with members of the council of retired federal permanent secretaries. He…

Governor Ayodele Fayose of Ekiti State has called for the devaluation of the nation’s currency, the Naira, saying, “With the gap between the official rate of N199 and open market rate of over N400 to one dollar, Naira has already been…

Vice president, Yemi Osinbajo has said that the federal government will not consider further devaluation of the Naira because it will not help the economy. Osinbajo made this statement when he received the Ambassadors of Italy Mr. Fulvio…