Naira scarcity: CBN needs to work with non-cash vendor, says expert

April 10, 2023 Segun Odunewu 0

A financial analyst, Kala Aja, says contrary to belief in some quarters, the Naira redesign policy by the Central Bank of Nigeria (CBN) did not fail, urging the apex bank to work with non-cash vendors on liquidity challenges. Until the introduction of the redesigned naira notes in the denominations of N1,000, N500 and N200 late December 2022, trading continued smoothly Read More

FG speaks on planned NLC nationwide strike

March 28, 2023 Admin III 0

The Minister of Labour and Employment, Dr Chris Ngige, has said the planned nationwide strike by the Nigerian Labour Congress (NLC), would not hold This was disclosed at the 68th session of the State House ministerial breifing at Abuja on Tuesday. He said, “At this moment we are no longer talking about whether or not to go on strike. We Read More

Naira scarcity: CBN issues order to banks

March 24, 2023 Benjamin Umuteme 0

The Central Bank of Nigeria (CBN) has confirmed the evacuation of banknotes from its vaults to commercial banks across the country as part of a coordinated effort to ease the circulation of banknotes of various denominations. The CBN has also directed all commercial banks to open for operation on Saturdays and Sundays. The Acting Director, Corporate Communications Department of the Read More

Naira scarcity: Again CBN issues fresh directives

March 24, 2023 Admin III 0

The Central Bank Nigeria (CBN) has directed all commercial banks to open for operation on Saturdays and Sundays to ease scarcity of naira notes. This was disclosed in a statement shared on CBN social media handle. The statement reads, “CBN also directs all Banks to load their Automated Teller Machines (ATMs) as well as conduct physical operations in the banking Read More

Naira scarcity: NLC declares nationwide strike

March 22, 2023 Admin III 0

Following the persistent naira scarcity in the country, the President of the Nigeria Labour Congress (NLC), Joe Ajaero, has asked workers to commence an indefinite strike from Wednesday, March 29, 2023. Ajaero disclosed this in Abuja on Wednesday, March 22, 2023, during a press briefing. He said it followed an earlier ultimatum issued by the central working committee of the Read More

Banks struggle to meet customers’ demand as Naira scarcity persist

March 21, 2023 Segun Odunewu 0

Despite the reintroduction of the old N500 and N1000 notes following a Supreme Court order extending their validity till December, 2023, commercial banks in the country are still struggling to meet their customers’ Naira notes demands. Banks have continued to await cash disbursement from the CBN to enable them meet the cash needs of customers. A visit to most of Read More

2023 governorship election: Group commends Nigerians, urges Buhari to end naira scarcity

March 20, 2023 Abdulrahman Zakariyau 0

The Muslim Media Watch Group of Nigeria (MMWGN) has commended Nigerians for their peaceful conduct in the Gubernatorial and States Assembly elections held across the country, Saturday, March 18, 2023. MMWGN however condemned pockets of violence in some parts of the country and called for immediate prosecution of all those arrested for electoral crimes. In a press release signed by Read More

Naira scarcity persists in Lagos despite CBN’s directives

March 15, 2023 Segun Odunewu 0

Despite directives by the Central Bank of Nigeria (CBN) that banks can now dispense and accept the old N500 and N1000 notes, Naira scarcity still persists in Lagos with many customers besieging banks. It was however observed that while traders and residents of the state had fully complied to transact with the old Naira notes, some banks were yet to Read More

[Breaking] Naira scarcity: At last, Buhari speaks on Supreme Court judgement, turns heat on CBN, Malami

March 13, 2023 Admin III 0

By Abdullahi M. Gulloma The Presidency said Monday that President Muhammadu Buhari has never told the Attorney-General of the Federation (AGF) and Minister of Justice Mr Abubakar Malami and the Governor of Central Bank of Nigeria (CBN) Mr Godwin Emefiele to defy Supreme Court order on the use of old N1000, N500 and N200 banknotes till December this year. Senior Read More

At last, Emefiele opens up on ‘sponsoring Labour Party governorship candidate Gbadebo Rhodes-Vivour’

March 13, 2023 Admin III 0

The Central Bank of Nigeria (CBN) has debunked an alleged report that the governor of the apex bank had launched a fresh plot against the president-elect, Bola Ahmed Tinubu. A media platform had reported that a huge amount was mobilised through high-level CBN agents in Lagos state for the state governorship candidate of the Labour Party (LP), Gbadebo Rhodes-Vivour, for Read More

Naira scarcity: Radio presenter slumps, dies trekking to office

March 12, 2023 Admin III 0

An Ibadan-based radio presenter simply known as Baba Bintin has reportedly slumped and died while trekking to work on Saturday, March 11, 2023. The incident was disclosed during a radio programme by the Fresh FM Nigeria. Blueprint learnt that Baba Bintin was said to have been trekking from Amuloko area where he lived to Challenge as a result of scarcity Read More

Another state move to prosecute those rejecting old N500, N1000 notes

March 11, 2023 Admin III 0

Ekiti state governor, Biodun Oyebanji, has threatened to arrest traders rejecting N500 and N1000 old notes. In a statement on Saturday, signed by his Special Adviser on Media, Yinka Oyebode, the governor said it was unlawful for any business owner or service provider to reject the old notes, adding that the “government will not hesitate to arrest and prosecute business Read More

Naira redesign: APC Governors pressurizing Buhari, Malami for out of court settlement, Timi Frank alleges

February 21, 2023 Bode Olagoke, Abuja 0

Governors on the platform of the All Progressives Congress (APC), are currently mounting intense pressure on President Muhammadu Buhari and the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, to settle the cases over Naira redesign policy out of the Supreme Court, it has been learnt. Former Deputy National Publicity Secretary of the All Progressives Congress (APC), Comrade Read More

Naira scarcity: Nigerian banks shut down

February 18, 2023 Admin III 0

The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI), has ordered members to shut down their offices following attacks on banks and financial institutions nationwide due to the scarcity of naira notes, A statement by the ASSBIFI national president, Olusoji Oluwole, on Friday, February 17, 2023, stated that the directive was due to consistent attacks from angry Read More

Confusion as CBN denies directing banks to receive old N500, N1000 notes

February 17, 2023 Admin III 0

The Central Bank of Nigeria (CBN), has debunked the earlier claim that the apex bank has directed commercial banks to collect N500 and 1000 naira notes. Reacting to the claim, the director of corporate communications, Osita Nwanisobi, on Friday, February 17, 2023, urged the public to disregard the message. The statement reads, “The attention of the Central Bank of Nigeria Read More

Breaking: Abeokuta boils over naira scarcity [VIDEO]

February 17, 2023 Admin III 0

Commercial activities were on Friday paralysed in Abeokuta, the capital of Ogun State, as residents trooped out to protest the lingering scarcity of the new naira notes of N500, and N1000. Motorists and travelers were turned back by the protesters who spread across the city. No evidence of security personnel is seen at the scene as protesters burned fire across Read More

New naira policy: Another APC governor dares FG, gives counter directive

February 17, 2023 Admin III 0

The Jigawa state government has told its citizens to continue to use the outlawed currencies as lawful means of payment and business transactions. The state government said the suit at the Supreme Court which is yet to be conclusively decided by the apex court empowered everyone to use N500 and N1000 notes. The Jigawa State Commissioner for Information, Youths, Sports Read More

VIDEO: Youths block Ogun road over naira scarcity

February 17, 2023 Admin III 0

Angry youths on Friday have blocked the Mowe Ibafo road, Ogun state and turned back motorists and travellers over the scarcity of naira and fuel across the country. Potest had also erupted in the Ketu/Mile 12 areas of Lagos state causing serious traffic along the Ikorodu expressway, but the police said the situation is under control.