The Senate has initiated a move to restore Nigeria’s monetary sovereignty by prohibiting the use of foreign currencies for payments and transactions within the country. EKO HOT BLOG reports that this effort aims to ensure that all financial transactions, including salaries, are conducted in naira. The proposed ban would cover not only local workers but … Read more
Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has warned against the use of foreign currency as a medium of exchange in the country. The apex bank gave the warning in a statement on Sunday which was signed by its Director of Corporate Communications, Ibrahim Muazu. Editor’s Picks Prof Anthony Ani Wins … Read more
The Taliban’s government is pressing for the release of billions of dollars of central bank reserves… EKO HOT BLOG reports that the Taliban has announced a complete ban on the use of foreign currency in Afghanistan. The move is expected to cause further disruption to an economy pushed to the brink of collapse by the … Read more
Upon arrest, it was discovered that a sum of $184,800 (One Hundred and Eighty-Four Thousand Dollars), SAR 1,723,310 (One Million, Seven Hundred and Twenty Three Thousand, Three Hundred and Ten Saudi Riyals) was concealed in a diaper pack. The Area Comptroller in charge of Kano/Jigawa Command of the Nigeria Customs, Suleiman Pai Umar, has handed … Read more