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Banks begin collection of old naira notes despite CBN’s denial of directive
Commercial banks have started collecting the old N500 and N1,000 naira notes from their customers. The development comes despite the…
Contempt: Court Vacates Order Sentencing MD, Company Secretary of Fidelity Bank To Six Weeks In…
A Chief Magistrate Court sitting in Ikeja , Lagos has vacated its ruling…
Naira redesign: Governors shouldn’t hide under immunity to commit treason, says CSO
The Centre for Reform and Public Advocacy, a…
Attacks: Labour directs bank workers to stay at home
Organised Labour in the nation’s Financial Sector, yesterday directed bank workers to stay at home following increasing attacks on banks across the country over the scarcity of new notes. Under the aegis of…
Nigerian Banks’ Liquidity Threatened By Forex Shortage – Moody’s
The liquidity position of Nigerian banks has come under pressure as the Central Bank, the major supplier of foreign currency in the country, has scaled down its supply of exchange to local companies. This has led…
Naira Scarcity: People attacking banks will be treated as armed robbers – Police warn
The Nigeria Police Force has warned that citizens caught attacking banks in protest against cash scarcity will be treated as armed robbers. Force Spokesman Olumuyiwa Adejobi said this in a video posted on…
CBN denies directing banks to collect old N500, N1000 notes
The Central Bank of Nigeria (CBN), has denied directing commercial banks to collect old N500 and N1,000 from…
Kaduna Residents Ignore El-Rufai, Deposit Old Notes At CBN
Despite the stance of Governor Nasir El-Rufai that old notes remain legal tender, residents of Kaduna besieged the Central Bank of Nigeria (CBN) in the state to deposit their old naira notes. In a nationwide…
Jumia sacks 900 workers to reduce cost of operation
Jumia, a pan-African e-commerce platform, says it laid off over 900 workers in order to reduce its cost of operation. The company, in its 2022 fourth quarter (Q4) financial report released recently, said the cut…
Samsung launches new smartphones in 55 countries
Samsung Electronics, South Korea’s tech giant, on Friday said it had launched its new Galaxy S23 smartphones in 55 countries. The Galaxy S23 series were released in 55 countries, including South Korea, the U. S,…
BREAKING: CBN orders banks to collect old N500, N1,000 notes
The Central Bank of Nigeria has ordered banks to start collecting the old N500 and N1,000 notes from the public with immediate effect. It, however, pegged the maximum amount the banks can collect at N500,000. The…
Sabotage linked to MTN’s Tuesday nationwide shutdown
The network glitches experienced by millions of subscribers on the MTN…
Allow Naira Redesign Work – Emefiele Begs Nigerians
Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has appealed to Nigerians to allow the naira redesign policy work. He said this in an interview with State House Correspondents after…
Naira Redesign: Buhari Out To Truncate Democracy – Ganduje
Kano State governor, Abdullahi Umar Ganduje has alleged that the naira redesign policy of President Muhammadu Buhari is aimed at truncating Nigeria’s democracy. Ganduje spoke late Wednesday in…
CBN promises to inject over N700bn new notes into circulation by February ending
Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has assured that the apex bank would release between N700 to N800 billion into circulation before the end of this month. Emefiele…
Emefiele meets with heads of banks, says N200 notes will be circulated immediately
Godwin Emefiele, the governor of Central Bank of Nigeria (CBN), says he has met with 15 heads of commercial banks to ease the ongoing cash crunch in the country, following President Muhammadu Buhari’s…
BREAKING: Emefiele arrives Villa, urges compliance to Buhari’s directive
The President of the Central Bank of Nigeria, Godwin Emefiele, on Thursday, said he had met with the leadership of at least 15 commercial banks since President Muhammadu Buhari announced his latest directive…
Cash Scarcity: Economists urge CBN, banks to allow N100,000 withdrawals over counter
Economists have urged the CBN to identify and address the bottlenecks associated with the cash swap policy, causing uncertainty currently pervading the economic environment. The experts, who made the appeal in…
Naira Crisis: FG, States Consider Out-Of-Court Settlement
Indications emerged last night that the federal and the state governments are considering out-of-court settlement of the litigations trailing the naira policy of the Central Bank of Nigeria (CBN), Daily…
Old N500, N1,000 notes can be swapped at CBN, designated points, says Buhari
President Muhammadu Buhari says the old N500 and N1,000 notes can be swapped at the Central Bank…
BREAKING: Only Old N200 Note Valid Till April 10, Says Buhari
President Muhammadu Buhari has extended the validity of the old N200 notes till April 10, 2023. The president announced this in a national broadcast on Thursday Monday. “I am addressing you as your…
Nigeria’s oil production rises 1.9% to 1.258 mb/d — OPEC
Nigeria’s oil production has risen month-on-month, MoM, by 1.9 per cent to 1.258 million barrels per day, mb/d, in January 2023, from 1.235 mb/d recorded in December 2022. The figures excludes Condensate. The Organisation of Petroleum…
Why I rejected Buhari’s proposal to extend old naira deadline – El-Rufai
Nasir el-Rufai, governor of Kaduna, has explained why he refused to accept the fresh resolutions proposed by the federal government on the naira redesign policy. that the federal government proposed…
Sanwo-Olu threatens to prosecute those rejecting old naira notes
The Lagos State Government has joined the dispute at the Supreme Court against the rejection of old naira notes in Nigeria. The governor also warned those rejecting the old notes to desist from doing so or…