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Tag: CBN

Adamu Garba
Business

New naira: CBN owes Nigerians explanation, says Adamu Garba

The former Senator of the Federal Republic of Nigeria, Adamu Garba has said that the Central Bank of Nigeria owes Nigerians an explanation and apology over the adverse impact of its naira policy. This was during his live appearance on The 2023 Verdict of Channels Television. This publication recalls that the CBN extended the deadline […]

Bismarck Rewane
Business

CBN policy may cost $18bn GDP loss monthly – Rewane 

The chief executive officer of Financial Derivatives Company, Bismarck Rewane, has said that the Central Bank of Nigeria’s policy on the currency swap would cost Nigeria a Gross Domestic Product loss of $18 million monthly. According to him, Nigeria may experience a total man hour loss of five days per month owing to the disruption […]

The logo of Chartered Institute of Banking Nigeria
Business

Naira redesign: Banks are not closing, says CIBN

The Chartered Institute of Bankers of Nigeria has debunked the rumours that commercial banks will close down. CIBN joined to support the refute by the Central Bank of Nigeria about the report on the closure of banks. Recall that the CBN on Friday debunked claims that it planned to close down some commercial banks. The […]

Godwin Emefiele, CBN Governor and the redesigned naira note
Banking Business

Naira redesign: CBN must follow rule of law, says NGF

The Nigeria Governors’ Forum has urged the Central Bank of Nigeria to follow the rule of law in driving its naira redesign policy. According to a report by Premium Times, the NGF made these statements in a communiqué that was released at the conclusion of its meeting on Saturday in Abuja. The statement was signed […]

Godwin Emefiele, CBN Governor and the redesigned naira note
featured

Naira crisis: CBN top officials meet on Monday

The top officials of the  Central Bank of Nigeria are to meet on Monday over the redesigned naira notes crisis. The aim of the meeting is to proffer solutions that will address the naira hardship. The Punch reported that the meeting will review the advice offered by the National Council of State. The Council suggested […]

Money bouquet, others abuse naira, CBN warns Nigerians
News

Money bouquet, others abuse naira, CBN warns Nigerians

  Wilson Adekumola   The Central Bank of Nigeria on Friday warned Nigerians against the practices deemed abusive to the naira currency. In a warning issued on Twitter, the apex bank told Nigerians that oractices such as money bouquet, squeezing, selling, and defacing as forms of naira abuse. Also included on the list of acts […]

JUST IN: Make new naira available, Council of State orders CBN
Economy featured

Make new naira available, Council of State orders CBN

Christian George The Council of State has ordered the Central Bank of Nigeria to make the newly redesigned naira notes available in large quantity to Nigerians. The Governor of Taraba, Darius Ishaku, made the disclosure to newsmen on Friday after the Council of State emergency meeting held in Abuja. He said, “the CBN was advised […]

Logo of the Trade Union Congress
Business

TUC threatens to sue FG over Naira, fuel crises

The Trade Union Congress has threatened to sue the Federal Government following the persistent scarcity of naira and hike in the price of petrol. The Punch reported that the National President of the trade union, Festus Osifo said this on Thursday in a press conference at Abuja. In his words, Nigerians are “on the brink […]

As regional groups across the country continue to condemn the hardship faced by citizens, attributed to the removal of fuel subsidy and the foreign exchange crisis which has led to food inflation and high transport cost.
Foods

Naira, fuel crises cause food shortage in Kaduna

Residents of Kaduna State have cautioned of approaching starvation as a result of fuel shortages and new currency that have disrupted the state’s food supply system. DAILY POST reported  that due to lack of money and fuel, several business people that sell food and ingredients have reduced their supplies. “The majority of my suppliers have […]

President of the MAN, Francise Meshioye
Business

MAN tasks CBN on effective monetary system

The Manufacturers Association of Nigeria has urged the Central Bank of Nigeria to take on an effective monetary system to stop the hardship that is caused by the new naira design. This was stated on Tuesday by the President of the association, Francise Meshioye, at the Annual MAN reporter of the year award. According to […]

Economy featured

Supreme Court halts CBN from banning old naira

Juliet Buna   The Supreme Court on Wednesday temporarily halted the move by the Federal Government to ban the use of the old naira notes from February 10, 2023.   According to The PUNCH, a seven-member panel led by Justice John Okoro, halted the move of the federal government in a ruling in an exparte […]

TETFund urges FG to increase education tax
Business

Buhari holds emergency meeting over naira, fuel crises

President Muhammadu Buhari will call an emergency Council of State meeting on Friday in order to address the issues plaguing the country, including the naira, petrol shortage, and insecurity ahead of the February 25 presidential election. According to Daily Post, on Friday at 10 a.m., the Central Bank of Nigeria, and the Independence National Electoral Commission […]

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