In an interconnected world where influence knows no boundaries, a quintet of remarkable Africans has ascended to the forefront, steering some of the most influential and transformative organizations across the globe. Their journeys have been etched with unwavering excellence, propelling them to the pinnacle of their respective careers. It is vital to recognize that these…
Hope Dashed as Supreme Court Adjourns Suit on Old Naira Notes The Supreme Court of Nigeria has adjourned the hearing of the suit filed by governors challenging the naira redesign policy of the Central Bank of Nigeria (CBN) to Wednesday, February 22. The CBN had initially set January 31 as the deadline for old notes…
Supreme Court Halts Banning Of Old Naira Notes The process by the federal government to place ban on the use of the old Naira notes has been suspended by The Supreme Court in Abuja on Wednesday. It can be recalled that the federal government had released the ban on the use of the old money…
United Kingdom Govt Cuts Tariff on Nigerian Exports The UK government said it had cut tariffs and extended duty free trade in goods exported from Nigeria. Mr Ben Llewellyn-Jones, Deputy British High Commissioner to Nigeria said this at the launch of the Developing Countries Trading Scheme (DCTS) which took place at Eko Hotel and Suites,…
Senate Ask CBN To Extend Deadline Till May 31 Yesterday, the Senate requested that the Central Bank of Nigeria, CBN, change the January 31 deadline for the exchange of obsolete naira notes to the May 31 deadline. Additionally, the Senate has encouraged the CBN to establish an exchange window where those without bank accounts can…
New Naira: CBN Launches Cash Swap Program For Rural Areas The Central Bank of Nigeria (CBN) announced a cash swap program in collaboration with Super Agents & Deposit Money Banks (DMBs) with about ten days left before the old naira notes expire, allowing those in rural areas or with limited access to formal financial services…
New Naira: Customers And Banks Urge CBN To Change The Deadline To January 31 As bankers and clients lobby for the extension, the Central Bank of Nigeria may come under pressure to extend the date for the old naira notes to stop being accepted as legal cash. Banks continue to give the old notes to…
CBN Orders Banks to Stop Over-the-Counter Withdrawals of New Naira Notes The Central Bank of Nigeria, CBN, has instructed banks not to allow customers to make over-the-counter withdrawals of new naira notes. Instead, the banks have been directed to use Automated Teller Machines to distribute the new notes across the country before the deadline of…
Nigeria’s Debt Is Expected To Reach N77 Trillion, While Loan Servicing Will Cost N5.2 Trillion. The Nigeria Director-General of the Debt Management Office, Patience Oniha disclosed on Wednesday, at the public presentation of the 2023 budget by the Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, that the Nigeria’s public debt may hit…
Budget for 2023 would result in unemployment and inflation, says Utomi According to Pat Utomi, a political economy professor and the founder of the Centre for Values in Leadership, the recently passed 2023 budget will result in severe inflation, job losses, and a collapse of the currency rate. The analyst who referred to it…