…71% •Analysts highlight cash dependence, financial inclusion challenges By Peter Egwuatu Currency held outside the banking system by Nigerians rose by 103.8 per cent to N4.923 trillion in September 2026 from N2.416 trillion in September 2023, highlighting the persistent demand for physical cash despite the expansion of…

…of 20.16 billion dollars for its last financial year, growth of 3.1 per cent in constant currency, and in July cut its guidance for the current year to between 1.5 and 3 per cent. Artificial intelligence accounted for 8.2 per cent of revenue in the first quarter. Management has pointed to AI productivity effects and ca…

…reserves and potential foreign exchange inflows. “However, sustained pressure on foreign currency demand could limit further gains.” The post Naira appreciates to N1,373/$ in parallel market appeared first on Vanguard News.

…issue was to reduce the cost of living and boost the purchasing power of the country's currency.Ajaero stressed that the government must first address the underlying factors driving the high cost of living and strengthen the purchasing power of the country's currency."N1,000,000 minimum wage will collapse the Nigerian…

…and CEO Olugbenga "GB" Agboola joined a panel on foreign exchange predictability, local-currency settlement, and the role of financial technology in expanding bilateral trade. He highlighted how Nigeria’s removal from the FATF grey list, improved FX stability, and growing foreign reserves are rebuilding institutional c…

…to close at N1,352.87/$1 at the official market on Tuesday, October 27, 2026The local currency also strengthened against the pound sterling and euro, closing at N1,803.24/£1 and N1,508.59/€1, respectivelyInterbank foreign exchange turnover fell by 28.2% to $543.74 million, while Nigeria's external reserves rose to $55.…

…gain since last week, compared with N1,367.61 recorded on Monday.This means the Nigerian currency strengthened by N14.74 against the dollar on a day-to-day basis.Meanwhile, at the parallel market, popularly known as the black market, the naira remained flat at N1,385 per dollar on Tuesday, the same rate recorded on Mon…

…oil prices.Data released by the Central Bank of Nigeria (CBN) showed that the local currency weakened to ₦1,367.61 per dollar on Monday, October 26, 2026, compared with ₦1,361.84 recorded at Friday's close.The naira falls in the official window and holds steady in the parallel market. ImagesThe latest movement repr…

…against the US dollar at the official market on Thursday, October 22, 2026.The local currency weakened by N2 on the black market to N1,360/$1 and fell by N3 at GTBank’s forex desk.Interbank foreign exchange turnover rose by 148% to $316.545 million, according to data from the CBNPAY ATTENTION: Mark Legit.ng as a prefer…

…on July 1, 1959, in Lagos, taking over control from the British colonial West African Currency Board.

…as a country. We interact with the rest of the world. And overnight, you devalue the currency by 300 per cent. The naira went from N500 to a dollar to N1,500 to a dollar. What that meant was that every Nigerian is made poor by 300 per cent.” Obasanjo said that had made Nigeria “the poverty capital of the world,” which…

…Responding to the question, he humorously broke down his financial standing by currency, confirming that he has already crossed that threshold in Nigerian naira, along with other African currencies. When the conversation shifted specifically to US dollars, Mr Eazi remained optimistic. "US dollars, you know, soon come.…

…the focus has shifted toward restoring price stability and stabilising the local currency. The latest October 2026 World Economic Outlook update by the International Monetary Fund and companion analyses from Coronation Research offer an updated projection on the country’s macroeconomic path. After headline annual-avera…

…in August before surging to N146.6tn in September. Narrow money, which comprises currency and highly liquid deposits, also increased from N43.11tn in August to N44.05tn in September. Currency held outside banks rose from N4.87tn to N4.92tn during the period. Broad money includes cash, demand deposits, savings and time…

…the US dollar at the official market, closing at N1,333.65/$1 on TuesdayThe local currency also strengthened against the euro but weakened against the pound sterling during the sessionInterbank FX turnover rose by 48.18% to $60.72 million as the number of currency deals increased to 70PAY ATTENTION: Mark Legit.ng as a…

…of the just-concluded World Bank/IMF meetings in Bangkok, Thailand, said the local currency would crash to N4,000/$, if subsidy was restored. Some opposition presidential candidates, including African Democratic Congress’ Atiku Abubakar; Social Democratic Party’s Adewole Adebayo; and Nigeria Democratic Party’s Peter Ob…

…help them track online recruitment networks, preserve digital evidence and trace cryptocurrency transactions. He stressed that the different areas of training needed to work together to support investigations and prosecutions. The AU official also called for stronger partnerships with social media companies, telecommun…

…by 90 kobo against the US dollar at the official market at N1,332.09/$1The local currency weakened against the pound sterling but appreciated against the euro during the trading sessionInterbank foreign exchange turnover fell by 77.7% to $36.24 million as net foreign reserves rose to $46 billionPAY ATTENTION: Mark Legi…

…valued at ₦4.65 billion, 11 exotic vehicles worth ₦4.29 billion, $50,000 in foreign currency, and ₦30 million in cash. The EFCC had applied for the forfeiture, arguing that the properties were connected to unlawful activities.Aisha Achimugu loses in suit against the EFCC Photo opens up on collecting money from Aisha Ac…

…competitiveness. He also warned that imported gasbased products paid for in foreign currency could put additional pressure on the country’s foreign exchange market. “Gas exports generate foreign exchange and investment, so the answer is not to discourage exports. The objective should be to increase production sufficien…

…and lower fuel imports due to increased domestic refining are expected to support the currency. The World Bank also identified the naira as one of Africa’s more resilient currencies in Q2 2026, while Nigeria’s net foreign reserves reached $46 billionPAY ATTENTION: Mark Legit.ng as a preferred source, and our content wi…

…Revenue Service agent, Tigran Gambaryan, who was working as an executive at cryptocurrency exchange Binance, as a prominent example of the risks confronting foreign business representatives. It recalled that Gambaryan and another senior Binance executive were detained in February 2024 after arriving in Abuja for meetin…

…ATTENTION: From breaking news to viral moments. Follow Legit.ng on Instagram!The local currency also lost ground against other major currencies. It exchanged at N1,759.17 per pound sterling, compared with N1,757.14 a day earlier.Against the euro, the naira weakened to N1,490.22 from N1,489.05 recorded in the previous s…

…per dollar recorded in the previous session, representing a 0.06% gain for the local currency.Naira records a slight gain against the dollar while Nigeria’s forex turnover rises sharply Photo: BloombergImagesNaira depreciates against pound, euroThe modest dollar gain was not matched across all major currencies. The nai…

…“If progress is not seen in our people, our work is not finished. Trust is the invisible currency of democracy. We cannot command it, demand it or legislate it into existence. We earn it through fairness, transparency and accountability.See more Punch stories on Google.Add Punch on Google “Every promise kept strengthen…