With its oil wealth, Nigeria should be awash with foreign currency. But years of economic mismanagement have left the country with a debilitating shortage of dollars. In an attempt to fix the ...

With its oil wealth, Nigeria should be awash with foreign currency. But years of economic mismanagement have left the country with a debilitating shortage of dollars. In an attempt to fix the ...

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, during a recent meeting with maritime journalists highlighted the gains of the Nigeria-China Currency Swap Deal. Represented by his ...

Nigeria’s currency, the naira, further plummeted to 1,524 to $1 on Friday, reflecting a 230% loss of value in the last year. “My family is now living one day at a time (and) trusting God ...

Pedestrian shop for food at the Mile 12 Market in Lagos, Nigeria, Friday, Feb. 16, 2024. (AP Photo/Mansur Ibrahim) The plummeting currency worsens an already bad situation, further eroding incomes ...

Economic analysts and crypto enthusiasts are raising concerns following Nigeria's ban on end-to-end transactions — a type of payment processing — involving its currency, the naira, on the ...

Nigeria’s economic landscape is at a pivotal juncture. Faced with fluctuating oil prices, rising inflation, and currency devaluation, the country’s foreign reserves remain under constant strain.

ABUJA, Nigeria (AP) — Nigeria on Wednesday launched newly designed currency notes, a move that the West African nation’s central bank says will help curb inflation and money laundering. The ...

More dollar, British pound and euro foreign currency exchange rates in Lagos, Nigeria, on Wednesday, July 26, 2017. Nigeria's economy, which in 2016 suffered its first full-year recession since ...

Nigeria’s economy is heavily dependent on crude oil, its largest foreign exchange earner. When crude prices plunged in 2014, authorities used its scarce foreign reserves to try to stabilize the ...

Nigeria's currency has fallen to a record low as inflation surges. How did things get so bad? Pedestrian shop for food at the Mile 12 Market in Lagos, Nigeria, Friday, Feb. 16, 2024.