Sentences with phrase «naira currency»
«I remember back in 2004, E-gold (a defunct cryptocurrency) was the only option anyone in Nigeria had to make online payments,» said Tim Akinbo, the founder of Tanjalo, a Nigerian exchange where people can buy Bitcoin with the local naira currency.
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Investors and business people may be disappointed as Adeosun backed current fiscal policy against devaluing Nigeria's beleaguered naira currency, speaking at her Senate vetting last month.
«We therefore challenge the said former CBN official to make public the empirical evidence suggesting that 20 per cent Naira currency in circulation is fake.
«The attention of the Central Bank of Nigeria (CBN) has been drawn to certain spurious and grossly uninformed claims suggesting that about 20 percent of the naira currency notes in circulation are counterfeited,» it said.
The Central Bank of Nigeria, CBN, has refuted some spurious and grossly uninformed claims suggesting that about 20 per cent of the Naira currency notes in circulation are counterfeited.
Not exact matches
A year ago, on that day, the currency rate Australian Dollar to Nigerian Naira was: 234.635.
Residents talk about the collapse of the naira, Nigeria's currency, caused by the slump in oil revenues, which are crucial for Africa's biggest economy.
The currency fell to about 300 naira to the dollar in Nigeria's black market, down from about 240 early last month.
Regarding Nigeria, the app will be available in that country but as of right now the naira will not be one of the supported currencies.
Customers from our countries of operation sometimes search for the price of Bitcoin in their home currency: the Indonesian rupiah (IDR), South African rand (ZAR), Nigerian naira (NGN) or Malaysian ringgit (MYR).
He speaks on issues in 2016 budget, the need for the Federal Government to prevent currency crisis in Nigeria, the decline in Nigeria's foreign trade by N2.5 trillion and depreciation of the naira.
Naira on Monday depreciated further at the parallel market amid growing shortage of the currency.
Nigerian stocks had previously rallied 8.5 per cent after the government floated the naira and ended a highly controversial currency peg.
He submitted that this singular act will «reduce pressure on naira and eventually increase value of naira against other world major currencies.»
As many Nigerians, specifically the participants of the popular Ponzi scheme, Mavrodi Mondial Moneybox known as MMM, are hoping to unfreeze their accounts, the scheme had dump the use of Naira as mode of payment by introducing Bitcoin as the best performing currency.
He insisted that «there has been an unchecked downfall in our currency; Naira has depreciated to the point of N260 to a dollar; something that has never happened in the history of this country».
Reports say Diezani summoned the bank chief to her Abuja home and told him to prepare to receive foreign currency running into billions of Naira from four companies and to convert it to Naira and pay to designated beneficiaries on her behalf.
Dangote Cement Plc said it got approval from Nigerian regulators to issue 300 billion naira ($ 833 million) in local - currency bonds...
As part of anti-corruption measures, he also ordered that the currency be replaced - the colour of the naira notes were changed - forcing all holders of old notes to exchange them at banks within a limited period.
He said, «On the report on some government agencies collecting revenue in foreign currencies but remitting to the Federation Account naira equivalent, the Permanent Secretary, Ministry of Finance reported that apart from NNPC, NIMASA and Nigerian Ports Authority, other agencies involved in revenue generating are FIRS, Shippers Council, Airport Authority and Nigerian Immigration Service.
Concluding its prognosis of the foreign currency market situation, Cowry Assets analysts stated, «this week we expect further depreciation of the Naira at the alternative market segments on aggravated supply scarcity buoyed by the closure of CBN's window to BDCs».
Obiano said the council also received the report of a committee that investigated government agencies collecting revenues in foreign currencies and remitting into the Federation Account in naira.
The naira's slump has prompted speculation that the currency may have to be formally devalued soon.
«Secondly, they want the CBN to fold its arms and allow currency speculators to drive the naira down to a level at which it will be easy for their paymasters to buy up and take control of the Nigerian economy.
They are also worried that despite the huge crash in value of the Naira against world's major currencies, CBN maintained its official rate at N197 / USD1 thereby creating wider parallel market margin of about 50 per cent, the highest so far in the history of Nigeria's currency market.
The deliberate efforts, in the absence of the president, have so far strengthened local currency, the Naira, boosted oil production and stabilize the polity.
The defendant was said to have told the BDC operator to follow him with the $ 65,000 to a nearby bank where he would pay the naira equivalent of the foreign currency.
But, the APC challenged the PDP to first disprove allegations of billions of naira and other foreign currencies recovered from members of the former ruling party by the EFCC.
You could actually step out of a plane at London's Heathrow or New York's JFK airports and convert the Naira to the pound and dollar because the Naira under Shagari was a fully convertible currency globally.
The searches have uncovered huge raw cash (sums) of various denominations, local and foreign currencies, with real estate worth several millions of naira and documents affirming unholy acts by these judges.»
The General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye has predicted that Nigeria's legal tender, Naira, will become a powerful currency...
A former Economic Adviser to former President Olusegun Obasanjo, Prof. Ode Ojowu said the measure would further create problems for currency speculators who had not recover from the sudden appreciation of the Naira.
Unfortunately, the manat, like many other reserve currencies in the world including the Nigerian naira are dependent on the performance of certain assets or industries such as oil, and will continue to become more volatile and unpredictable in the upcoming years.
The South African digital currency exchange ICE3X recently opened its doors in Nigeria giving Nigerians an opportunity to buy bitcoin, litecoin, and ether using nairas through the use of the VoguePay payment processor.
Nigeria's fiat currency, Naira, has lost 90 % of its value when compared to the USD and EUR in the past two years alone.
The partenrship allows users for the first time to trade bitcoins for local currencies, ZAR Rand and Nigerian Naira.
Customers from our countries of operation sometimes search for the price of Bitcoin in their home currency: the Indonesian rupiah (IDR), South African rand (ZAR), Nigerian naira (NGN) or Malaysian ringgit (MYR).
sometimes search for the price of Bitcoin in their home currency: the Indonesian rupiah (IDR), South African rand (ZAR), Nigerian naira (NGN) or Malaysian ringgit (MYR).
The Nigerian bitcoin space has witnessed tremendous growth over the last few years, which has been mainly driven by people looking to hedge their wealth in the face of a depreciating local currency, the naira.
Naira Exchange is a Nigeria's oldest bitcoin exchange and one of the most popular platform for the buying and selling of digital currencies in the country.
A key reason behind it is the persistent depreciation of the country's local currency, the naira.
On NairaEx, users can buy bitcoin with naira using bank transfers or bank deposits and use the exchange's wallet for remittance purposes as users can also easily cash out their bitcoin back into local currency.
There are more than 100 other fiat currencies in the world — Euro, Yen, Yuan but also Venezuelan Bolivar, Nigerian Naira, etc..