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Senate ask CBN to extend deadline of new naira note
Uncategorized

We are not against Naira redesign – Govs

The 36 states governors of Nigeria has called on the Central Bank of Nigeria (CBN) to effect the changes in its naira redesign policy to address the differences in various states. “Governors are not opposed to the objectives of the naira redesign policy, but observed that there are huge challenges that remain problematic to the […]

FG target Spanish investors for seven oil blocs
featured Oil and Gas

Oil production drops by 83% – Report

  Findings from the Organisation of the Petroleum Exporting Countries report macroeconomic has shown that Nigeria’s export capacity dropped by 83 per cent between 2020 and 2021. According to the data, the country’s monthly production capacity in 2012 was roughly 95,620 million barrels per month, or slightly more than 3 million barrels per day. It […]

Kogi residents lament scarcity of new naira note
Economy

New naira notes’ll enhance Nigeria’s economy – CBN

    The Central Bank of Nigeria emphasised on the economic benefit of the new note as sensitisation intensifies following the closeness of the deadline to phase out the old notes draw near. The CBN has mobilised members of the team to Shasha Market, in Akure North Local Government Area of Ondo State to enlighten […]

Monarchs begs CBN to extend old naira deadline
Banking featured

Monarchs begs CBN to extend old naira deadline

Oluwanifemi Ojo   The OkuIbom Ibibio and President General of Akwa Ibom State Traditional Rulers Council, Edidem Solomon Etuk, appealed to the Central Bank of Nigeria to extend the deadline announced for the phasing out of the old bank notes. The monarch told the Branch Controller, Central Bank of Nigeria, Uyo branch, Akwa Ibom State, […]

Monarchs begs CBN to extend old naira deadline
News

CBN permits DMBs to swap new, old naira notes across LGAs

  The Central Bank of Nigeria has permitted Deposit Money Banks, Money Operators, and super agents to swap the old notes in local government areas to accelerate circulation of the new notes. This strategy would increase the availability of new notes and ensure that people don’t lose their money. This was stated in a circular […]

Naira falls N777 against dollar after CBN announcement
Economy

Inflation weakened naira 15% in 2022 – NESG

Bisola David   A recently released report by the Nigerian Economic Summit Group revealed that the naira was devalued by 14.9% due to inflation, which was brought on by the Central Bank of Nigeria’s plan to redesign the currency.   In its 2023 Macroeconomic Outlook Report titled “Nigeria in Transition: Recipes for Shared Prosperity,” the […]

Aviation

NAMA shuts Lagos airpot runway Sunday

The Nigerian Airspace Management Agency on Saturday announced the imminent closure of the international runway of the Murtala Muhammed Airport (18R/36L) in Lagos State.   The closure, according to the Amagency, will take effect from 12am to 5pm on Sunday.   NAMA revealed that the temporary closure will enable the repairs on the taxiway.   […]

Banking

Old naira: Commercial Banks to work Saturdays

The Central Bank of Nigeria has announced that commercial banks would work on Saturdays to receive the old Naira notes from customers.   The Leader of the CBN inspection team to Ebonyi State on new Naira notes, Kama Ukpai, said this during an enlightenment campaign to traders, on Friday at Eke Market, Afikpo.   Ukpai […]

Buhari unveils SDG financing framework
News

Buhari didn’t approve petrol price hike – FG

  The Federal Government of Nigeria has denied its involvement in the price increase of petrol despite the hike and scarcity nationwide. In a statement released by his media aide, Horatius Egua, in Abuja on Friday, the Minister of State for Petroleum Resources, Chief Timipre Sylva, claimed that PMS price increases had not been approved […]

News

Nigerians’ll embrace solar energy once FG ends subsidy – Expert

The CEO of Green Technologies, Aaron Esumeh, has predicted a boom in the renewable energy industry once the Nigerian government removes subsidy on petroleum products as proposed. This is as the President, Major General Muhammadu Buhari (retd) announced that fuel subsidies will end in 2023 because it is no longer sustainable. In an interview with […]

Monarchs begs CBN to extend old naira deadline
Banking

CBN to charge banks N1m daily over new currency

Wilson Adekumola     The Central Bank Of Nigeria has said that any commercial bank that failed to comply with the newly redesigned naira notes in terms of picking up for distribution will incur charges of million naira per day.     The Deputy Director on Research, Osun State Bracnch, Adeleke Adelokun made this known […]

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