Economy

Lagos State Governor, Bababjide Sanwo-Olu, has directed security personnel to be on red alert to forestall possible uproar arising from the current naira crisis across the state.The governor stated this on Saturday morning, while briefing newsmen on the state of the nation, at Lagos House, Marina, Lagos. Sanwo-Olu, however, appealed …

The Chartered Institute of Bankers of Nigeria (CIBN) said it was liaising with the Body of Banks CEOs to address the current challenges caused by the cash swap and scarcity of the redesigned banknotes. Dr Ken Opara, President/Chairman of Council, CIBN, said this in a statement on Saturday in Lagos. …

The Jigawa State Government has said the old naira notes remain legal tender in the state pending the judgment of the Supreme Court. The state Commissioner for Information, Youths Sports and Culture, Ibrahim Mamsa, stated this in a statement issued late Thursday. This is coming despite the position of the …

State Government of Osun has said reason for the dissolution of ‘O-YES’ and the introduction of Imole Youth Corps was to restructure the agency for optimal performance. This is contained in a statement made available to newsmen by Governor’s Spokesperson, Mallam Olawale Rasheed. Recall that Osun State Government on Thursday …

Nigeria’s inflation rate rose from 21.34 percent in December 2022 to 21.82 percent in January 2023 amid biting scarcity of the naira. According to the latest Consumer Price Index (CPI) report released on Wednesday by the National Bureau of Statistics (NBS), the January 2023 inflation rate showed an increase of …

Human rights lawyer, Monday Ubani says President Muhammadu Buhari has overruled the Supreme Court with his Thursday declaration that old N500 and N1,000 notes are no longer tender. Ubani, who is the Chairman of the Nigerian Bar Association Section on Public Interest and Development Law (SPIDEL) stated this On Thursday …

In fulfillment of the Promise made by Osun State Governor, Senator Ademola Adeleke civil servants in Osun state have started receiving part of the 30 month salary arrears owed by the previous administration. Recall that the promise was made by Governor Adeleke through Head of Service, Mr. Aina Ayanleye. It …

President Muhammadu Buhari’s address in a televised broadcast on Thursday has bee generating reactions from several Nigerians. The address contains a lot of policy statements on the naira crisis plaguing the country. Below are a brief analysis and key points to note New naira has come to stayThe president has …

The Supreme Court sitting in Abuja adjourned a hearing in the suit banning the use of the old naira to Wednesday, 22nd February 2023. The three states filed the suit against the Federal Government seeking a restraining order to stop the full implementation of the naira redesign policy of the …

Four Point Of Sale, POS, operators have been arrested in Makurdi by a combined team of officials of the Central Bank of Nigeria, CBN, the Independence Corrupt Practices and other related offences Commission, ICPC, and the Economic and Financial Crimes Commission, EFCC for extorting their customers. The team, led by …