Tag: CFA

Depreciation: Transborder Traders Reject Naira over CFA, Other West African Currencies

Hetty

Falling the continuous free Fall of the Nigerian currency (Naira) since the middle of 2023, transborder trade along the West African market corridor has become difficult for Nigerian businessmen. Traders of the region have begun to reject the currency. Reports from the Seme border show that the traders on both sides are now preferring either […]

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Naira Scarcity: Sokoto Residents Adopt Another Country's Currency

Naira Scarcity: Sokoto Residents Adopt Another Country’s Currency

Hetty

Residents and traders in some communities in Sokoto State have adopted the currency of a neighbouring country following the scarcity of the New Naira Notes. Nigerians have been groaning under the hardship created by the newly redesigned naira notes. The apex bank had initially set the 31st of January 2023 as the deadline for the acceptance […]

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N1000 now Equals 1000 CFA

N1000 now Equals 1000 CFA

Hetty

Nigerians at the Cotonou border are screaming about the the exchange rate as N1000 this morning equalled 1000CFA in the black market. Time it was when Nigerians mocked the worthless value of the Francophone West Africa currency. It took barely 24 hours for the 2 currencies to square up leaving business men wondering where to […]

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