The Central Bank of Nigeria (CBN) recently shared some interesting numbers. These numbers show that people are keeping a lot more cash at home or in their pockets instead of in the banks.According to this data, the money people...
The money that people use in Nigeria, called the Naira, became a little less valuable when compared to the US dollar. This happened because the US dollar started getting stronger again after it went down recently.On October 30, 2024,...
In September 2024, Nigeria saw its money supply grow by 62.8% compared to the previous year. This happened even though the Monetary Policy Committee (MPC) tried to make it harder to spend money to control rising prices.The Central Bank...
This week, the naira, which is Nigeria’s money, got a little stronger when people swapped it with the US dollar at the official money exchange market.On Friday, the market data showed that you could get one US dollar for...
The Nigerian naira slightly got weaker against the US dollar on October 25, 2024. It was trading at N1,730 for $1, which is a little drop from the previous rate of N1,728 for $1.This was the second day in...
In Nigeria, the local money called the Naira is losing value compared to the US dollar. This is because the US dollar is getting stronger.On Wednesday, for every 1 US dollar, you needed N1,654.09 of Nigerian money at the...
The Finance Minister, Mr. Wale Edun, has talked about what the Central Bank of Nigeria Governor, Mr. Yemi Cardoso, said regarding the pressure on the foreign exchange (FX) market due to money distribution to different government levels in Nigeria.Mr....
The money used in Nigeria, called the naira, went down in value compared to the U.S. dollar. It ended the day at N1,660.49 when traded officially by big investors.This drop happened around the same time as the National Bureau...
The boss of the Central Bank, Yemi Cardoso, said that the naira, Nigeria's money, is not worth as much anymore. But, this might help Nigeria sell more stuff to other countries.Cardoso talked about this at a big meeting in...
Sure, let's rewrite this blog post in simpler terms for easy understanding. I'll keep it engaging and informative.
---
On October 15, 2024, Nigeria's money, called the naira, got weaker when compared to U.S. dollars. At the end of the day,...
