Economy

President Muhammadu Buhari has called on the Government of the United Arab Emirates (UAE) to lift its blanket visa ban on Nigerians. The President canvassed this position on Tuesday during a telephone conversation with the President of the United Arab Emirates, Sheikh Mohamed bin Zayed Al Nahyan, who doubles as …

The Central Bank of Nigeria (CBN) says there is no going back on the February 10, 2023 deadline for the swapping of the old N1,000, N500, and N200 notes. While there has been controversy over the deadline with some governors dragging the apex bank to the Supreme Court and the …

The Central Bank of Nigeria, CBN, has debunked alleged threat to shut down some deposit banks, over naira scarcity. Disclosing this in a statement signed by Osita Nwanisobi, Director, Corporate Communications, CBN stated that there was no such plan, noting that the claims are illogical and do not comply with …

The Federal Government said plans are in place to implement an improved minimum wage package for civil servants by the second quarter of 2024. Ngige who made this announcement at the Nigeria Labour Congress’ 13th National Delegates’ Conference in Abuja said necessary provisions had been implemented to make it a …

The Academic Staff Union of Universities (ASUU) has criticised the Federal Government over the naira and fuel scarcity that has bedevilled the country in the final months of President Muhammadu Buhari’s tenure. The naira swap policy sought to replace the N200, N500, and N1,000 banknotes with redesigned ones ahead of …

The Kano State Government on Thursday evening filed a suit against the Federal Government at the Supreme Court in respect of the naira redesign policy of the Central Bank of Nigeria. In suit number: SC/CS/200/2023, sighted by The PUNCH, the Kano State Attorney General, through his Counsel, Sunusi Musa, SAN, …

President Muhammmadu Buhari on Friday chaired the National Council of State meeting to address the current upheaval regarding the naira redesign and the currency swap. In attendance are the former Presidents Goodluck Jonathan; Yakubu Gowon, and Abdulsalami Abubakar as well as ex-President, Olusegun Obasanjo who attended virtually. Also present at …

Ministry of Works and Housing has got a cheque of N110 billion SUKUK fund to build roads in six geo-political zones.A statement by Director of Press and Public Relations, Lere-Adams Blessing, said two ministries benefited from N130 billion 2022 SUKUK fund: Federal Ministry of Works and Housing and Federal Capital …

Residents of Calabar city in Cross River state have stormed the various commercial banks in search of cash. It was reported that there were long queues at the Automated Teller Machines as well as those trying to gain access to the banking halls across the city. However, most of the …

The Independent Corrupt Practices and Other Related Offences Commission (ICPC), has arrested officials of two commercial banks in Abuja and Osun State for alleged sabotage as the scarcity of new naira notes lingers. A statement by the ICPC spokesperson, Mrs. Azuka Ogugua, said the arrests were in continuation of its …