Court Grants Nollywood Actress, Oluwadarasimi Omoseyi N5m bail
Oluwadarasimi Omoseyin, a Nollywood actress charged with alleged tampering and spraying of the redesigned Naira notes, was granted N5 million bail by a Federal High Court in Lagos State on Wednesday. The Economic and Financial Crimes Commission (EFCC) preferred two counts of charges against Omoseyin, who was arraigned before Justice Chukwujekwu Aneke on Monday. The charge was preoccupied with spraying and...
Yahaya Bello Breaks Silence On Why He, Gov. El-Rufai Stormed Supreme Court Over Naira Notes
Governor Yahaya Bello of Kogi state has explained the reason why he and Governor Nasir el-Rufai stormed the Supreme Court hearing on the old naira notes on Wednesday. The Supreme Court of Nigeria on Wednesday held a brief hearing as regards the case on the naira swap policy of the Central Bank of Nigeria (CBN). The case, however, was adjourned to...
Old Naira Notes Have Lost Their Legal Tender Status, CBN Declares
The Central Bank of Nigeria (CBN) has declared that the old Naira Notes of N200, N500 and N1000 have ceased to be legal tender in Nigeria since the 10th of February, 2023. The declaration was made by the Branch Controller of the Central Bank of Nigeria (CBN), Bauchi, Haladu Idris Andaza while briefing Journalists on Monday at the CBN, branch...
CBN Says It Disburses New Naira Notes Daily
The Central Bank of Nigeria (CBN) says it allocates new naira notes to banks on a daily basis. CBN Director, Consumer Protection, Mrs Rashidat Monguno, said this in Offa, Kwara State, on Thursday, attributing scarcity of the redesigned notes to sabotage by some commercial banks. Monguno, who was on an exercise to monitor microfinance banks, said, ”There is naira out there,...
ANAN President, Prof. Osisioma Tasks Leaders On Sustainable Consumption
The National President of Association of National Accountants of Nigeria (ANAN), Rev. Canon Prof. Chuka Osisioma has urged leaders across the country to imbibe the culture of sustainable consumption as a means of protecting the future for younger generations. "We seem to be consuming our present and our future. If we continue with the rate at which we are going,...
DSS Intercepts Syndicates Selling New Naira Notes, Bank Officials Implicated
The Department of State Services has detained some members of an organized syndicate selling the new Naira notes in various parts of the country. Although the names and locations of the suspects were withheld by the DSS, the agency claimed in a statement on Monday that several commercial bank employees were complicit in the crime. Dr. Peter Afunanya, the DSS's Public...
Fresh Facts Emerge On Why CBN Extended Deadline For Use Of Old Naira Notes
President Muhammadu Buhari on Sunday, in Daura, approved the Central Bank of Nigeria’s request to extend the deadline for swapping of old naira notes with the redesigned notes from January 31, 2023, to February 10 2023. Buhari also approved a seven-day grace period which runs from February 10 to February 17 2023, to allow Nigerians to deposit their old notes...
FG To Restructure FIRS, Mulls New Name
The Minister of Finance, Budget and Economic Planning, Zainab Ahmed, has disclosed plans to restructure the Federal Inland Revenue Service (FIRS). The minister while appearing before the Senate Committee on Finance said the restructuring would see the name of the service changed to the Nigeria Revenue Service. The change, which is part of the 2022 Finance Act that was passed by...
National Assembly Passes N21.83trn 2023 Appropriation Bill Into Law
The National Assembly has passed the 2023 appropriation bill at N21.83 trillion. This shows an increase of N1.32 trillion from the N20.51 trillion budget proposal of President Muhammadu Buhari. A breakdown of the budget indicates an allocation of N967.5 billion for statutory transfers, N6.6 trillion for debt servicing, N8.3 trillion for recurrent expenditure, and N5.9 trillion for capital expenditure. Meanwhile, the Senate...
Politicians More Affected By CBN’s Cash Withdrawal Limit, Says CAN President
The President of the Christian Association of Nigeria, Most Reverend Daniel Okoh, has said the new cash withdrawal limit of the Central Bank of Nigeria will have more impact on politicians. Speaking at the thanksgiving service of the new president of the Organisation of African Instituted Churches, Nigeria Region, Okoh who was represented by the immediate president of OAIC, Napo...
