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New naira note: CBN insist on January 31st deadline
featured

CBN takes new naira awareness to Calabar markets

The Central Bank of Nigeria has expanded its awareness-raising effort to key markets in the Calabar city in advance of the January 31, 2023 deadline for the usage of obsolete Naira notes. The effort to raise awareness was organized by Branch Controller for CBN Calabar, Glory Iniunam. She clarified that the purpose of the activity […]

Ports and Airports

FG approves port workers’ salary increase

The Federal Government has approved salary increment for the staff members of the Nigerian Ports Authority.   The Minister of Transportation, Mu’azu Sambo, said this over the weekend at the long service award organised by the management of the NPA, commending the management of the agency for their commitment to staff welfare.   The Minister […]

Economy

Nigeria may lose 34% GDP to climate disaster – Analyst

  With a median GDP impact of -20% by 2050 and -64% by 2100 under present climate policy, a study has been published by Christian Aid highlighting that the eight poorest countries, including Nigeria could face a bleak economic future. Even if global warming is kept to 1.5 degrees Celsius, the African continent will suffer […]

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 […]

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