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BREAKING: Supreme court nullifies naira redesign policy, says old notes valid till Dec 31
The supreme court has invalidated the naira redesign policy introduced by the Central Bank of Nigeria (CBN). The court made the declaration on Friday while delivering judgment in a suit instituted by three states of…
‘It wasn’t meant to cause hardship’ — Buhari apologises over naira redesign policy
President Muhammadu Buhari has apologised to Nigerians over the…
Tinubu’s N6trn challenge
A major challenge awaiting Bola Tinubu, Nigeria’s president-elect, is petrol subsidy, which is on track to gulp N6 trillion in 2023. President…
CBN’s tenure rule: Bank MDs to retire in 2 years
The new tenure rule by the Central Bank of Nigeria (CBN) has revealed three…
Only 24% of CBN Anchor Borrowers’ loans repaid – IMF
The International Monetary Fund has disclosed that only 24 per cent of loans dirbursed under the Anchor Borrowers’ Programme of the Central Bank of Nigeria have been repaid. This disclosure was contained…
Banks open but no cash after election
Many Nigerians who hoped to get access to cash after Saturday’s…
Lagos-Ibadan train service generated N5bn in 2022 – Report
The Federal Government through the Nigerian Railway Corporation generated about N5bn revenue from the Lagos-Ibadan train services in 2022, the PUNCH reports. The PUNCH findings showed that the coaches in…
Global Debt Declines by $4tn, First Drop Since 2015
The amount of debt sloshing around the global economy witnessed its first annual drop in dollar terms since 2015, with a $4 trillion decline in 2022, according to a new report by the Institute of…
Premium Trust Bank Faults Story on Its Ownership
Premium Trust Bank Limited (PTB) has refuted allegations that the Governor of Delta State, Senator Ifeanyi Okowa, and his family are among its shareholders. The bank described allegations the as…
Nigeria Bonds Rise As Tinubu Leads In Pivotal Election Tally – Bloomberg
Nigerian bonds are posting some of the best gains in emerging markets as investors bet that ruling-party candidate Bola Tinubu, who’s taken an early lead in the nation’s presidential election tally, will…
Vitol, World’s Biggest Energy Trader, Forecasts $100 Oil Price in H2
If the current increase in Nigeria’s oil production is sustained, the country may not find much trouble financing its 2023 budget, with the Vitol Group, the world’s largest energy trader predicting yesterday that oil prices could return…
OML 130: Total Energies Seeks Protection as Palmeron Threatens Contempt of Court
Total Energies Upstream Nigeria Limited has approached the Appeal Court in Lagos, seeking to stop Palmeron Nigeria Limited, an indigenous oil servicing firm, from committing it to prison for contempt of…
CBN Moves to Curb Brain Drain with New Tenure Limits for Banks’ Executives
The Central Bank of Nigeria (CBN) has said its recently released revised regulatory requirements for the tenure of executive management and Non-executive Directors (NEDs) of deposit money banks (DMB) and…
Currency in circulation drops to N1.38tn – CBN
The total amount of currency-in-circulation in the country dropped from N3.29tn as of the end of October 2022 to N1.38tn as of the end of January 2023 as a result of the naira redesign policy of the Central…
National Assembly passes bill to exit pension scheme, PFAs kick
The National Assembly has passed a bill to exempt its workers from the scheme, 18 years after operating the Contributory Pension Scheme. However, the Pension Fund Operators Association of Nigeria has said that…
FG Sells N2.5bn NITEL Property To Lagos
The National Council on Privatisation (NCP) has approved the sale of a NITEL/MTEL property located at No 3-5, Moloney Street, Tafawa Balewa Square, Onikan, Lagos, to the Lagos State Government. A…
Netflix slashes subscription prices in over 30 countries
Netflix has reduced subscription prices in over 30 countries in Asia, Europe, Latin America, Sub-Saharan Africa, and the Middle East. This was announced on Thursday in an attempt to attract…
FG names winner of 700MW Zungeru plant concession
The Federal Government, on Wednesday, announced the preferred bidder for the concession of the 700 megawatts Zungeru Hydroelectric Power Plant for a fee of $70,000,251 per year for a period of 30 years.…
Interventions: Buhari Hails CACOVID for Raising his Profile among Comity of Nations
…says Coalition made him…
BREAKING: Supreme court fixes March 3 for judgment in suit against naira redesign policy
The supreme court says it will deliver judgment in the suit challenging the naira redesign policy of the Central Bank of Nigeria (CBN) on March 3. The seven-member panel of the apex…
Naira Crisis Suits Must Be Decided Today – Supreme Court
The Supreme Court has insisted that the dispute over naira redesign and swap policy must be decided today. The seven-member panel led by Justice Inyang Okoro said new parties wishing to join the suit would…
Naira crisis: All eyes on Supreme Court today as governors battle FG, CBN
All eyes will be on Nigeria’s Supreme Court today as 10 governors battle the Federal Government and its agency, the Central Bank of Nigeria (CBN) over implementation of the obnoxious Naira redesign policy.…
Falana Writes CBN To Disclose Disbursements
Human rights lawyer, Femi Falana (SAN), has written to the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, demanding details of disbursements of the new naira notes to commercial banks.…
New Naira: CBN Debunks Release Shared On Aisha Buhari’s Instagram Page
The Central Bank of Nigeria has debunked a purported press release shared on the Instagram page of the…