The Department of State Services officers have arrested an undisclosed number of persons involved in the sale of the new naira notes. The DSS, in a statement by its spokesman, Peter Afunanya, accused some commercial bank officials of aiding the crime. The statement was titled, ‘DSS intercepted syndicates selling new …
Read More »New Naira: NBA Impels CBN To Review Policy
The Nigerian Bar Association has said that the law allows Nigerians to redeem their old naira notes at the Central Bank of Nigeria even after the January 31 deadline set by the apex bank for such activity. Report stated that the Federal Government unveiled the redesigned N200, N500 and N1000 …
Read More »New Naira Notes: CBN Threatens Five Banks In Zamfara
The Central Bank of Nigeria (CBN), Zamfara State branch, has ordered five commercial banks in the state to immediately release new naira notes to Point of Sale (POS) operators or face sanctions. The controller of CBN in the state, Buhari Abbas, gave the order in Gusau during a sensitization workshop …
Read More »Reps To Meet NNPC Over Fuel Scarcity
As petrol scarcity lingers on with queues in filling stations across the country, the House of Representatives has urged the Nigerian National Petroleum Company Limited, as the sole importer of Premium Motor Spirit, popularly known as petrol, to urgently ease off the queues across Nigeria. The Lawmakers also urged the …
Read More »Banks Lending Rate To Customers Rises To 29.13%
Godwin Emefiele Figures obtained from the Central Bank of Nigeria on money market indicators, on Monday, have revealed that the maximum lending rate in the banking sector has hit 29.13 per cent while savings deposit rates was 4.13 per cent as of the end of December 2022. Prime lending rate …
Read More »Inland Revenue Rakes in N10.1 Trillion
Over N10.1 trillion tax revenue have been declared as the sum raked in by the Federal Inland Revenue Service (FIRS) . The Service made this known in its “FIRS 2022 Performance Update,” report signed by its Executive Chairman, Mr. Muhammad Nami and released, in Abuja, yesterday. It said, “The FIRS, …
Read More »Buhari Lands In Lagos, Inaugurates 1st Deep Sea Port In Lagos
President Muhammadu Buhari has arrived Lagos to officially commission the $1.5 billion Lekki Deep Seaport, first in Nigeria. He will equally commission other projects built by the Lagos state governor, Babajide Sanwo-Olu. Some of the projects slated for commissioning are the 18.75km six-lane rigid-pavement Eleko Junction to Epe Expressway; the …
Read More »Naira Redesign: CBN’s Cash Swap Programme Begins On Monday
With effect from Monday 23, January 2023, rural dwellers and Nigerians living where there are no banking services can swap their old N1,000, N500 and N200 notes for the redesigned notes.The Central Bank of Nigeria (CBN) had insisted that anybody who wished to have the redesigned notes must open a …
Read More »Court Strikes Out Suit Against Buhari On NDDC Appointments
Justice Inyang Ekwo of the Federal High Court Abuja has struck out a suit instituted against President Muhammadu Buhari, challenging the alleged lopsidedness in appointments into the Niger Delta Development Commission (NDDC). The suit instituted by an Abuja-based businesswoman and NDDC stakeholder, Rita Ogbebor was struck out by the court …
Read More »CBN Vows To Sanction Banks Hoarding New Naira Notes.
The Central Bank of Nigeria has vowed to sanction any commercial bank found hoarding the new naira notes, saying it had produced enough for distribution to all the banks across the country. The CBN Kano Branch Controller, Alhaji Umar Biu, made the remark during a sensitisation programme on the new …
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