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Latest data from the Central Bank of Nigeria has indicated that currency outside of bank vaults declined by 0.62 per cent to N3.61tn in April from N3.63tn in the previous month.
The value of Nigeria's Currency in Circulation, CIC, increased to N3.87 trillion at the end of the first quarter of 2024 as money outside the banking
However, currency outside banks also increased progressively during the first quarter, growing from N3.28tn in January to N3.41tn in February
It is obvious that the high cost of fertiliser and fuel will halt rice farming and production this year in Yobe State as many farmers are waiting for loans, borrowing, or debt from associates or relatives before they move ahead. Farmers in Nguru, Bade and Damaturu local government areas of…
As much as Mr. Cardoso may desire to provide FX for the Nigerian public, CBN cannot print dollars. If Nigeria does not export goods and services, the nation cannot earn dollars. Only deliberate policy actions can save the Naira. Both Monetary and Fiscal authorities must think outside the box and mobilise good spirited Nigerians to join in the battle to save the Naira.