Digital Skills to Power Nigeria’s Economy CBN Targets $1bn Monthly in Diaspora Financial Authorities to Track Digital Currencies President Bola Tinubu has directed Nigeria’s financial and capital market authorities to monitor the growing use of stablecoins and digital currencies. Speaking at the 18th Annual Banking and Finance Conference in Abuja, the president, represented by Finance … Read more
Dollar-to-Naira Exchange Rate — September 9, 2025 Black market trades higher at ₦1,510 to ₦1,525 per dollar. FX shortages continue to widen the gap between official and parallel rates The value of the US dollar against the Nigerian naira remains a key concern for both businesses and individuals. Today’s rates show moderate movement across both … Read more
Dollar-to-Naira Exchange Rates Today — September 8, 2025 Official rate near ₦1,520 mid-market estimate, based on recent data. CBN urges use of licensed institutions amid persistent rate disparities Here’s the latest on USD–NGN exchange rates in Nigeria’s parallel (black) market and the official Central Bank of Nigeria (CBN) rate: Black Market (Parallel Market / Aboki … Read more
Nigerian Bank Customers Protest Unauthorised Deductions, Seek CBN Intervention. BCAN petitions CBN, vows stronger advocacy against exploitative charges. Banks defend deductions, citing compliance with CBN tariff guide. Bank customers across Nigeria are voicing growing frustration over what they describe as unauthorised and excessive deductions from their accounts, urging the Bank Customers Association of Nigeria (BCAN) … Read more
Dollar to Naira Exchange Rate Today, 5th September 2025 Black market rate hits ₦1,538, widening gap with official window. Analysts link depreciation to inflation, imports, and weak oil revenues The Naira continues to face pressure against the United States Dollar as Nigeria’s foreign exchange market remains volatile. On Friday, 5 September 2025, the local currency … Read more
Official Naira to Dollar Rate for Today, 2nd September 2025. Analysts attribute the rebound to cautious trading and forex policy measures. Future stability depends on exports, remittances, and foreign investments. The Nigerian naira opened trading today, September 2, 2025, at ₦1,532.68 per US dollar, marking a modest gain of ₦2.39 (0.16%) from Monday’s closing rate … Read more
Official Naira to Dollar Rate for Today – 1st September 2025 Exchange rate shows modest fluctuations but remains relatively steady. Stability signals easing volatility as businesses plan for year-end. The Nigerian Naira remains relatively stable against the U.S. Dollar today, maintaining a rate close to previous sessions. Traders and businesses are watching carefully amid expectations … Read more
NCC Outline New Operational Guidelines For USSD Services CBN and NCC lnstructs banks to Settle 85% of all Outstanding Invoices by December 31 Telecom operators threatening to suspend USSD The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have issued a final directive to resolve the long-standing N250 billion Unstructured Supplementary Service … Read more
NCC and CBN direct banks and telecoms to resolve N250bn USSD debt. 60% of pre-API invoices due by January 2025, full payment by July 2025. 85% of post-API debts to be paid by December 31, 2024. The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have directed Mobile Network Operators (MNOs) and … Read more
The Central Bank of Nigeria (CBN) has granted Bureau de Change (BDC) operators temporary permission to purchase up to $25,000 weekly in foreign exchange from the Nigerian Foreign Exchange Market (NFEM), which was recently launched. EKO HOT BLOG reports that in a circular dated December 19, 2024, and signed by T.G. Allu, on behalf of … Read more
The Central Bank of Nigeria, CBN, has set a daily withdrawal limit on Point-of-Sale, PoS, terminals to N100,000 per customer. This was contained in a circular the apex bank sent to all Deposit Money Banks, DMBs, Microfinance Banks, mobile money operators and super-agents. In the circular titled ‘Cash-out limits for agent banking transactions,’ the CBN … Read more
The Central Bank of Nigeria (CBN) has recently implemented a new policy limiting daily transactions for Point of Sales (PoS) agents to N1.2 million. Eko Hot Blog reports that this decision outlined in the ‘Circular on Cash-Out Limits for Agent Banking Transactions,’ is part of the apex bank’s ongoing efforts to encourage a cashless economy … Read more
Following cash crunch in Nigeria, a Kogi State born political activist and immediate past House of Representative candidate for Dekina/Bassa federal constituency, Usman Okai Austin, on Tuesday accused some Senior staff of commercial banks are selling money to operators of Point of Sales, PoS, operators. Okai said it’s now obvious that the PoS terminal are … Read more
The Chartered Institute of Bankers of Nigeria (CIBN) has expressed concerns about the negative effects of certain government policies, including the removal of the fuel subsidy and the floating of the Naira, on both the banking sector and the Nigerian economy as a whole. EKO HOT BLOG reports that this statement was made during the … Read more
The Central Bank of Nigeria (CBN) has imposed a fine of ₦150 million on Deposit Money Banks (DMBs) found guilty of supplying mint naira notes to currency hawkers. EDITOR’S PICKS PDP Declares Ethiope East Federal Seat Vacant Following Ibori-Suenu’s Defection to APC Retired Principals Call for Recognition and Better Welfare from Government BREAKING: IGP Egbetokun … Read more
The Central Bank of Nigeria, CBN, has imposed a fine of N150 million on Deposit Money Banks found culpable of issuing illegal flow of mint naira notes to currency hawkers across the country. This was contained in a statement by the acting Director of Corporate Communications of the apex bank, Sidi Ali Hakama in Abuja. … Read more
The Central Bank of Nigeria (CBN) has clarified that all naira banknotes, including the old and new designs of the ₦1000, ₦500, and ₦200 denominations, as well as the commemorative and previous designs of the ₦100 note, remain valid legal tender indefinitely, with no set deadline. EKO HOT BLOG reports that In a statement signed … Read more
The Central Bank of Nigeria (CBN) says all denominations of Naira banknotes currently in circulation remain indefinitely valid as legal tender and cannot expire or be phased out. A statement on Friday by CBN’s Acting Director, Corporate Communications, Mrs Sidi Ali Hakama, said all banknotes including the old and new designs of N1,000, N500, and … Read more
The naira appreciated against the dollar in both the official and parallel foreign exchange markets on Thursday. According to data from the Central Bank of Nigeria (CBN), the naira closed at N1,532 per dollar, up from N1,545 on Wednesday. Similarly, data from FMDQ indicated that the naira strengthened to N1,534.35 per dollar on Thursday, compared … Read more
Nigeria’s broad Money Supply (M²) surged by 48.3% year-on-year (YoY) to reach N107.7 trillion in October 2024, up from N72.6 trillion in the same period of 2023, according to the Central Bank of Nigeria (CBN) Money and Credit Statistics report released yesterday. EKO HOT BLOG reports that despite this increase, M² experienced a month-on-month (MoM) … Read more