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...
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...
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...
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,...
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,...
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...
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...
Bus Conductor, Passengers Exchange Hot Blows Over Old Naira Notes In Kaduna
Following the deadline for the acceptance of old currency as legal tender by the Central Bank of Nigeria, bus conductors, and passengers on Wednesday exchanged blows over the former’s refusal to accept old notes as transport fare in Kaduna. Trouble started when a ten-passenger bus operating from Sabon Tasha Community, in Chikun Local Government Area of Kaduna State, heading towards...
President Buhari Reportedly Set To Extend Validity Of Old Naira Notes Till April 10
President Muhammadu Buhari is reportedly considering extending the validity of old 200, 500 and 1000 naira notes by 60 days. TheCable reports that this is to avoid disobeying the order of the Supreme Court of Nigeria which ruled that the old notes remain valid until it delivers judgment in the case filed by some states against the federal government. The CBN...
Cash Swap: FG Wants Only N200 Old Notes To Remain Legal Tender Till April – El-Rufai
Nasir El-Rufai, Governor of Kaduna State, has revealed that the Federal Government has proposed that only the old N200 notes remain legal tender until April 10, 2023. Muyiwa Adekeye, Governor El-Rufai's Special Adviser on Media and Communication, stated this on Wednesday. The governor denied reports that the governors of the All Progressives Congress met with the federal government on Wednesday. He did, however,...
