Blog

Why CBN won't print naira again - Budget minister
Banking

Naira crisis: CBN to fine banks hoarding new notes

The Central Bank of Nigeria may levy fines of N5 million on banks holding fresh notes and N50,000 against individuals selling them. According to Punch, this was based on the Banks and Other Financial Institutions Act of 2020 as well as the Central Bank of Nigeria Act of 2007. In accordance with the Banks and […]

News

Old naira: Court bars Buhari, Emefiele from extending deadline

    Wilson Adekumola   An High Court of the Federal Capital Territory Monday, issued a restraining order on President Muhammadu Buhari, the Central Bank of Nigeria, CBN, Governor, Godwin Emefiele and 27 commercial banks from suspending the demonization policy of the federal government. The High Court Judge, Justice Eneojo Eneche made the order while […]

Business

FGN savings bond up for N1000 per unit – DMO

The Debt Management Office on Monday announced the offerings for subscription and authorized application for the savings bonds at N1,000 per unit to prospective bond holders. This was according to an issued statement on the organisation’s official website on Monday 6, 2023. A Federal Government Bond is considered the safest of all the investments in […]

Presidential candidate dialogue by NESG
Business

2023: We’re the leaders Nigeria needs, says Peter Obi

The presidential candidate of Labour Party, Peter Obi stated that Nigeria needs his transformational leadership in 2023 and at this critical time. This was stated in the concluding session of his dialogue with the National Economic Summit Group which held on Monday. Am Business reported on Monday that the presidential candidate of Labour Party announced […]

Business

UK health workers commence historic strike over pay

The United Kingdom’s health workers have commenced their largest strike on Monday over pay. Tens of thousands of nurses and ambulance workers have marched to experience their greiviances over low pay, putting pressure on the National Health Service run by the state government. It was reported that the two categories of health workers, the nurses […]

Buhari
Economy

Naira crisis: Three northern APC states sue Buhari, CBN

Three All Progressive Congress governed states, Kaduna, Kogi and Zamfara State Governments have sued the President, Major General Muhammadu Buhari’s (Ret’d.) government to court, over the new naira policy introduced by the Central Bank of Nigeria.   Naija News reported that according to the motioned filed, owing to the current hardship suffered by their state […]

Support, don't attack Dangote, Peter Obi tells critics
featured News

Nigeria’s resources’ll be prudently, transparently managed – Obi

  Bisola David Presidential candidate Peter Obi, has said that he and Datti Baba-Ahmed, his running mate, promise to provide the transformational and patriotic leadership that Nigeria desperately needs. He made this statement at the Nigerian Economic Summit Group Dialogue on the Nigerian Economy, which was held in Lagos on Monday under the theme “The Nigeria we need.” […]

Peter Obi
Business

Peter Obi arrives Lagos for NESG’s dialogie

The presidential candidate of Labour Party announced his arrival to Lagos State on Monday, for the National Economic Summit Group Dialogue with Presidential Candidates. This was disclosed in the post made on his verified Twitter page on Monday. It reads “I just arrived at the venue for the NESG Dialogue with Presidential Candidates on the […]

Olamilekan-Adegbite
Business

How mining companies’ mineral titles dropped 37% – Report

A recent report has revealed how mineral titles conferred to mining companies in Nigeria dropped by 37 per cent. According to The PUNCH, a total of 2815 titles which were conferred in 2016 dropped to 1438 in 2021. In 2019, the Minister of Mines and Steel Development, Architect Olamilekan Adegbite, reported that the application for […]

Economy

Why naira redesign is best for economy- UBA CEO

    Wilson Adekumola   Group Managing Director and Chief Executive Officer of United Bank for Africa, UBA, Plc, Chief Oliver Chukwudum Alawuba, has said the naira redesign is the best policy that could happen to Nigerian economy at this time. He promised that the deposit monetary banks are working tirelessly with the Central Bank […]

A VLCC oil tanker is seen at a crude oil terminal in Ningbo Zhoushan port, Zhejiang province, China May 16, 2017. Picture taken May 16, 2017
Business

OPEC to reconsider output as China oil demand surges – IEA

The executive director of the International Energy Agency, Fatih Birol said on Sunday that OPEC and other oil producers will have reconsider the policies guiding their outputs as China demands expected to surge after the COVID-19 disruption. China is the largest world’s oil consumer, following the United State. It is also one of the countries […]

Katsina food prices skyrocket amid naira crisis
Agribusiness

Katsina food prices skyrocket amid naira crisis

Prices of wheat and other food goods in Katsina State have plummeted as the present cash shortage continues to hit. According to the News Agency of Nigeria, maize, guinea corn, millet, and beans are now less expensive than they were three weeks ago. A grain vendor, Alhaji Haruna Abdullahi, told NAN that a bag of maize currently […]