Nigerian naira news & latest pictures from ibtimes.com

The naira is the currency of Nigeria. It is subdivided into 100 kobo.

The Central Bank of Nigeria (CBN) is the sole issuer of legal tender money throughout the Federation. It controls the volume of money supply in the economy in order to ensure monetary and price stability. The Currency & Branch Operations Department of the CBN is in charge of currency management, through the procurement, distribution/supply, processing, reissue and disposal/disintegration of bank notes and coins.

Nigeria's Naira Currency Falls To Record-Lows Against Dollar Amid Foreign Exchange Scarcity

There is currently a strong demand for dollars and foreign exchange from importers amid diminishing liquidity as the global price of oil, Nigeria’s top source of revenue, plummet to all-time lows.

Nigerian Currency Plunges To US Dollar Amid Hajj Pilgrimage, Chinese Economic Slowdown

The Nigerian naira devalued by N5 to N220 per U.S. dollar as Nigerians seek the United States currency to pay for school abroad and the annual hajj pilgrimage to Mecca.

Police stand watch over protesters in Nigeria's capital, Abuja

Boko Haram is the Main Task for Nigeria's new Police Chief

Nigerian President Goodluck Jonathan fired the national police head, Inspector-General Hafiz Ringim, over recent Boko Haram attacks.

Nigerian Insurgents Boko Haram Newest 'Threat to U.S.'

Boko Haram, Nigeria's militant Islamic insurgency, is now an emerging threat to the United States, a new congressional report says.

Nigerian naira hits record low, cbank unveils new move

The Nigerian naira struck a new record low of 164.85 to the dollar in the interbank market on Thursday, pressured for a second day by the central bank's comments earlier this week that it would not support the currency at all costs.

A money dealer counts the Nigerian naira on a machine in his office in the commercial capital of Lagos

Nigerian naira falls to 2-month low vs dollar

The Nigerian naira fell to its weakest in almost two months against the U.S. dollar on the interbank market on Monday after the central bank removed restrictions on the amount of dollars lenders could sell to bureaux de change.

Nigeria distributes 616 bln naira to government for July

Nigeria distributed 616 billion naira from federal accounts to its three tiers of government for July, up by 1.6 percent from the previous month, the accountant general said on Friday.

Nigeria naira slips as reserves fall; big drop unlikely

The Nigerian naira weakened further against the U.S. dollar on the interbank market on Wednesday as strong demand for the greenback persisted in the face of static supply, traders said.

Nigerian naira firms as oil companies sell dollars

The Nigerian naira firmed slightly on the interbank market on Monday after three energy firms sold dollars, traders said.

Nigerian naira weakens further on dollar shortage

The Nigerian naira NGN=D1 depreciated further against the dollar at both the interbank market and official window on Wednesday as the central bank was unable to meet demand for the greenback at its auction.