ECONOMY

The Central Bank of Nigeria (CBN) has directed commercial banks to begin the payment of the new naira notes to customers over the counter.    This is according to a Thursday statement signed by the Bank’s Director, Corporate Communications Osita Nwanisobi. He said it is part of moves to ameliorate the plight of Nigerians who are […]

The presidential candidate of the New Nigeria Peoples Party (NNPP) Rabiu Kwankwaso has faulted the new naira swap deadline, claiming it only affects the masses and not the political elites who he said have banks. Kwankwaso said that the February 10th deadline given by the apex bank is not enough, arguing that if the move […]

CBN Orders Banks To Pay New Naira Notes Over The Counter,”In line with this resolve, the Governor, Mr. Godwin Emefiele, has directed deposit money banks (DMBs) to commence the payment of the redesigned Naira notes over the counter, subject to a maximum daily payout limit of N20,000.”

Some Point of Sale (PoS) operators in satellite towns of the Federal Capital Territory (FCT) are making brisk business with the new naira notes. The Bank of Nigeria (CBN0 has fixed Jan. 31 as the deadline for the use of the old naira notes. Some of the Pos outlets visited were either not dispensing the […]

Jolted by reports of shortage of the new Naira notes in circulation, the House of Representatives, at Tuesday’s plenary, resolved to meet with the Chief Executive Officers, CEOs, of commercial banks tomorrow. The meeting is essentially to ascertain the true position of things on the availability of the new Naira notes, which the Central Bank […]

The Federal Government, through the National Bureau of Statistics, on Thursday said 130 million Nigerians are poor. In its 2022 Multidimensional Poverty Index Survey released in Abuja on Thursday, the NBS said the figure represents 63 per cent of the nation’s population. It added that the poverty index is mostly experienced in rural areas especially […]

The Standard Organisation of Nigeria, SON, has said that an average of N15trillion is lost annually to substandard products. Also, the agency called on Nigerians to appreciate and buy made-in-Nigeria products to sustain the local manufacturers which are threatened by the menace of substandard products. Speaking at a One-Day Stakeholders’ Sensitization Workshop/Mandatory Assessment Conformity Assessment […]

The Economic and Financial Crimes Commission (EFCC) has said the number of governors on its watchlist has increased. The Chairman of the commission, Abdulrasheed Bawa, disclosed this while briefing news men at the State House after meeting with President Muhammadu Buhari on Thursday. He noted that the commission is pleased with the redesign of the […]

The flagbearer of the Labour Party, Peter Obi, has raised concerns about the flood ravaging several parts of the country. He said the ravaging floods will have “deleterious” consequences on food production, as well as orchestrate higher food prices at a time the country is contending with rising food insecurity due to banditry and insurgency. […]

The President of the African Development Bank (AfDB) Group, Dr Akinwumi Adesina, says the bank will provide 12.5 billion dollars to support the Africa Adaptation Acceleration Programme (AAA-P). The AfDB president disclosed this via his verified twitter handle @akin_adesina on Wednesday. The AAA-P is Africa’s own programme, supported by African Heads of State, to mobilise […]