Naira may fall to N900/$ from demand pressure
Andersen, an independent tax and business advisory firm has said that the parallel rate of the naira may fall to N900 in 2023 from demand pressure if mitigating measures are not taken. The firm that has a worldwide presence through the member firms and…
Foreign Airlines Recorded 48,234 Missed Luggage In 2022 – NCAA
NO fewer than 48,234 air travellers’ luggage was either declared delayed or missing by foreign airlines operating in the country in 2022, according to the Nigerian Civil Aviation Authority. The Nigerian Civil Aviation Authority, in its newly released…
Naira Redesign: Only Old N200 Notes Re-issued – CBN
THE Central Bank of Nigeria, CBN, insisted yesterday that only the old N200 notes were re-issued as directed by President Muhammadu Buhari. The clarification came against the backdrop of reports that President Muhamnmadu Buhari had issued an order…
External Reserves Fall By $427m In One Month – CBN
THE country’s external reserves fell by $427.14m in one month, figures obtained from the Central Bank of Nigeria revealed on Monday. This is as the crisis in the country’s currency worsened over the scarcity of the new naira notes. Figures obtained from…
Nigeria’s hardships sponsors election disinformation
Disinformation has spiraled before Nigeria’s presidential ballot on Saturday as the nation faces challenges ranging from threats from criminal gunmen to a stuttering economy and a currency crisis. Fears of electoral fraud have also fueled false stories…
e-Naira Adoption Slow, Eight Per cent Of Wallets Used – IMF
SINCE its launch in 2021, the usage of the eNaira — Nigeria’s digital currency — has refused to pick up, the International Monetary Fund has disclosed. According to the fund, only about eight per cent of eNaira wallets are in use, with an average…
Naira Redesign: Allow Nigerians Deposit N500, N1000 Notes – CPPE tells CBN, Buhari
The Centre for the Promotion of Private Enterprise, CPPE, has asked the Central Bank of Nigeria, CBN and President Muhammadu Buhari to allow the old naira notes, N500 and N1000 be deposited in commercial banks. It was gathered by Hobnob News that he…
Chinese President Xi calls for High-level China-Africa Community with shared future
Chinese President, Xi Jinping on Saturday, pledged his willingness to support and work with leaders of African countries towards building a high-level China-Africa community with a shared future. Xi made the pledge in his message to the 36th African…
2023 Elections: What To Look Out For In Candidates – Oyedepo
THE founder of Living Faith Church also known as Winners’ Chapel, Bishop David Oyedepo, has urged worshippers to vote wisely in the Saturday presidential election. The renowned bishop said he is for the peace and stability of Nigeria. Speaking during a…
Relief as old 200 naira note returns to Lagos
A cross section of Lagos residents have said that the extension of the validity of the old N200 note has brought some relief to them. The Central Bank of Nigeria(CBN) on Oct. 26, 2022 announced the introduction of the redesigned N200, N500 and N1,000…