CBN begins monitoring today, banks set two-week target
The Central Bank of Nigeria on Thursday began the disbursement of old naira notes to Deposit Money Banks as government authorities stepped up efforts to end the biting currency scarcity that has inflicted pain on millions of bank customers nationwide.…
Naira crisis: DSS Arrests Lawmaker-elect
A lawmaker-elect for the Ogun State House of Assembly, Damilare Bello, has been arrested by operatives of the Department of State Services. Bello, a Peoples Democratic Party member, was alleged to have masterminded the Sagamu mayhem that left several…
Nigeria relies on generators for 75% electricity – Report
ABOUT 75 percent of electricity consumed in Nigeria comes from diesel and petrol-powered generators, the latest reports released on Monday by the Society for Planet and Prosperity, GCA Capital Partners, and Climate Advisers Network showed. Findings by…
Poultry firms may collapse before June, operators warn
The continued scarcity of the naira has crashed many poultry businesses and the industry may collapse before the incoming administration takes over the government by May ending if nothing is done to salvage the situation, operators in the sector warned…
E-bills payment falls by 44% over cash crunch – NIBSS
The value of electronic utility payments fell by 44.86 percent in February despite the Central Bank of Nigeria’s naira redesign policy aimed at growing cashless transactions. In February, the value of utility bills payment fell to N90.93bn from N164.89bn…
Naira Scarcity: States Insist On Contempt Charge Against Malami, Emefiele
KADUNA, Kogi and Zamfara states have finalised arrangements to initiate contempt proceedings against the Attorney-General of the Federation, Abubakar Malami, SAN, and the Central Bank Governor Godwin Emefiele despite the Monday night directive to…
Vote-buying: EFCC deploys 150 operatives in Kano, others
Ahead of Saturday’s governorship and Houses of Assembly elections, the Economic and Financial Crime Commission says it has deployed 200 armed operatives to Kano, Katsina and Jigawa states to check vote-buying. The Kano Zonal Commander of the EFCC, Mr…
CSO tells Buhari to take action against Malami, Emefiele
The Rule of Law Advocacy and Accountability Centre has told the President, Major General Muhammadu Buhari (retd.), to take action against the Attorney-General of the Federation, Abubakar Malami, and the Central Bank Governor, Godwin Emefiele, for failing…
Fayemi’s agric programmes increased IGR to N1bn – Ex-Ekiti commissioner
The Former Commissioner for Agriculture in Ekiti State, Dr. Olabode Adetoyi, has said that the agricultural programs implemented during former Governor Kayode Fayemi’s administration increased the state’s Internally Generated Revenue from N350 million to…
Emefiele finally bows to pressure, says old naira notes legal tender
Exactly 10 days after the Supreme Court judgment mandated the use of old N,1000 and N500 notes as legal tender till December 31, 2023, the Central Bank of Nigeria Governor, Godwin Emefiele, on Monday bowed to pressure and officially ordered commercial…