The law prohibiting abuse of the naira violates Nigerian cultural and traditional practices.
Traders in Wuse, Abuja. Nigeria’s inflation is driven by soaring food costs and the fall of the country’s currency.
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To encourage the widespread use of eNaira, Nigeria will have to fix its infrastructure, train financial services staff and ensure data privacy for users.
Mobile money operators using point of sale machines are increasingly popular in Nigeria.
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Nigeria’s new foreign exchange policy promises to discourage rent-seeking, attract foreign investment, boost exports and prevent the dollarisation of the economy but consistency is key to success.
Cash is still king in Nigeria.
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Nigeria’s Central Bank didn’t have an adoption strategy for its digital currency. It was a missed opportunity.
Nigerian president Muhammadu Buhari and Godwin Emefiele, the governor of the Central Bank of Nigeria, present the redesigned banknotes in Abuja.
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For a country that aspires to reduce bureaucracy and liberalise its financial sector, currency redesign and cash withdrawal limits can only be counter-intuitive.
Newspaper headlines following the decision by Nigeria’s National Electoral Commission to delay the country’s poll.
EPA-EFE/Jayden Joshua
Evidence suggests a strong relationship between sustainability and the global competitiveness of a country. Nigerian businesses need to embrace it in order to thrive.