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New naira'll make ransom payment difficult - CBN
Banking

New naira’ll make ransom payment difficult – CBN

The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said that the payment of ransom to kidnappers and criminal elements will be difficult once it introduces the new naira notes. AMBusiness reported that the apex bank on Wednesday announced the plan to redesign the N200, N500, and N1,000 notes by December 15. The […]

'Remove Arabic inscriptions from new naira notes'
Opinion

‘Remove Arabic inscriptions from new naira notes’

The Central Bank of Nigeria has been asked to remove the Arabic inscription from the redesigned naira notes. A Senior Special Assistant to the Governor, Benue State, on Media and Publicity, Tever Akase, said all Nigerian languages should be on the currencies, not Arabic. In a tweet, via his offcial Twitter handle, Akase lamented that […]

Energy

Power generation hits 4,173.20MW in 24 hours

The Nigerian energy supply increased to 4,173.20Mw on Wednesday from a total of 2,931Mw on Tuesday, reports have revealed. According to Economic Confidential, only 17 power plants were in functioning as of Tuesday because several Generation Companies were told to shut down starting at midnight by the National Control Center, Oshogbo, due to high frequency. […]

'Remove Arabic inscriptions from new naira notes'
Banking

CBN to redesign naira notes

The Central Bank of Nigeria announced plans to redesign the N200, N500, and N1000 notes. CBN Governor, Godwin Emefiele, made the announcement during a special briefing on Wednesday. The intention behind this move is yet to be known as of the time of filing this report. More to come…

100% cashless economy possible in Nigeria - Emefiele
Banking

100% cashless economy possible in Nigeria – Emefiele

The Governor of the Central Bank of Nigeria, Godwin Emefiele has said that the goal of the apex bank to make Nigeria 100 per cent cashless is achievable. As the eNaira recorded over N8 billion in transactions in its first year of operation, Emefiele revealed that the CBN is committed to taking decisive steps in […]

Naira falls N777 against dollar after CBN announcement
News

Naira drops marginally against dollar, exchanges at N441.67

The Naira depreciated by 0.07 per cent on Tuesday, trading for 441.67 Naira to 1 USD at the Investors and exporters window, compared to N441.38 Naira to 1 USD on Monday. According to The News Agency of Nigeria, the open indicative rate reached a high of N440.58 to the dollar. In the course of Tuesday’s […]

CBN opens eNaira to USSD transaction
News

eNaira records N8bn worth transaction – CBN

The Central Bank of Nigeria has recorded 700,000 eNaira transactions worth N8bn in the last year. According to Channels, this was stated by the CBN Governor, Godwin Emefiele who delivered a keynote address at the ‘eNaira 1 year Anniversary’ held at the CBN Main Auditorium on Tuesday. “Since its launch, the eNaira has offered Nigerians […]

News

54gene appoints interim CEO as co-founder Ene-Obong resigns

The Co-founder and Chief Executive officer of leading genomics startup 54gene, Abasi Ene-Obong, has stepped down from his role as the Chief Executive Officer of the Firm. According to Nairametrics, he resignation comes barely two months after the company laid off 95 of its staff members. It was also gathered that the startup’s Co-founder and […]

Tweeps knock FG as fuel scarcity leaves commuters stranded
Oil and Gas

Tweeps knock FG as fuel scarcity leaves commuters stranded

Tweeps have slammed the Federal Government as commuters were left stranded on Tuesday as petrol shortage characterised by long queues have crept into the busiest city in Nigeria, Lagos State. While some filling stations, especially independent marketers, allegedly did not have the product to sell to motorists and other consumers and were shut down, those […]

Flights to South-South most expensive - NBS
Aviation

Flights to South-South most expensive – NBS

The National Bureau of Statistics ranked flights to the South-South as the most expensive of all geopolitical zones in the country. According to recent NBS fare watch data, the average airfare for a one-way trip in the South-South zone was N74,150 in September 2022. For the same period under consideration, the North Central zone cost […]

Why Islamic bank approved $1.8bn for Nigerian projects
News

Why Islamic bank approved $1.8bn for Nigerian projects

The Islamic Development Bank has revealed why the institution approved the sum of $1.8bn for Nigeria for Nigerian projects. According to The PUNCH, the President of the Saudi-based bank, Dr Mohamed Jasser at a meeting with the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, in Abuja on Monday stated that the funds […]

Honda boosts food production with new mechanised equipment
Agribusiness

Honda boosts food production with new mechanised equipment

Honda Manufacturing Nigeria Limited, over the weekend, launched a piece of agricultural equipment that would increase farmers’ yield as well as make large-scale farming efficient, in order to attain self-sufficiency in rice and other food production in Nigeria. The manufacturing company launched a hand-held shaft, for cultivating agricultural lands; a motorised backpack, for spraying chemicals […]

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