BUSINESS
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...
CBN Releases N120m New Notes In Katsina As Shortage Bites Harder
The Central Bank of Nigeria (CBN) said it has disbursed over N120 million of the redesigned naira notes to rural communities in Katsina state to cushion the effect of the new policy. Director of Currency Operations of the CBN, Alhaji Ahmed Bello Umar who disclosed this while briefing newsmen yesterday in Katsina, said the disbursement was through four designated banks. “We...
CBN Under Pressure To Extend Jan. 31 Deadline For Use Of Old Naira Notes
There has been an increased pressure on the Central Bank of Nigeria (CBN) to extend the January 31 dateline for phasing out old N1,000, N500, and N200 notes. Relevant stakeholders are also saying the deadline is not possible because the new notes are nowhere to be found. Governor Abdullahi Umar Ganduje of Kano State, the Northern Elders Forum (NEF), and...
Naira Notes Swap: Gbajabiamila Threatens CBN Governor, Emefiele With Arrest
The Speaker of the House of Representatives, Femi Gbajabiamila, has declared his readiness to issue a warrant of arrest on the Governor of the Central Bank of Nigeria, Godwin Emefiele if he fails to appear before its committee on Thursday. Gbajabiamila said instead of the House adjourning plenary till February 28 for the elections as planned, the lawmakers would reconvene...
ANAN FCT 1 Abuja To Host 2023 MCPD Programme
The Association of National Accountants of Nigeria, ANAN FCT 1 Abuja branch will host the 2023 edition of Mandatory Continuing Professional Development (MCPD) programme of the association. A release on Monday by the Central Planning Committee said the 3-day programme which has as the theme "Understanding Financial Disclosures On Sustainability" commences Monday, 6th — Wednesday 8th February, 2023. Venue is AGNL...
CBN Says It’s Been Begging Banks To Pick New Naira Notes, Vows To Go Tough
The Central Bank of Nigeria (CBN) says it has been begging commercial banks to pick up the new Naira notes. The apex bank had redesigned N200, N500, and N1000 notes, saying the old ones will cease to be legal tender by January 31. However, there have been concerns over this as the new notes are scarce less than two weeks to...
Inflation Rate Under Buhari Not Highest In Nigerian History — Keyamo
Festus Keyamo, the spokesperson for the presidential campaign council of the All Progressives Congress standard bearer, Asiwaju Bola Tinubu, has said the inflation rate under President Muhammadu Buhari's administration is not the highest in the history of the country. The Senior Advocate of Nigeria, who appeared on Arise TV morning show on Monday, was responding to questions about what Buhari’s...
NNPC Discovers Oil In Nasarawa
The Nigerian National Petroleum Company Limited on Friday announced the discovery of oil in Nasarawa State and said it was set to drill the first foot of an oil well in the Northern state. It said the discovery was in continuation of its oil exploration activities in the country’s inland basins, adding that it would spud the first oil well...
FG Explains Why New Naira Notes Leave Ink When Rubbed On White Surfaces
The Nigerian Security Printing and Minting (NSPM) Plc also called MINT, Friday, explained why the new Naira notes leave ink when rubbed on plain white surfaces while stressing that best international best practice was followed in their production. The company, also referred to as The MINT, is responsible for producing the naira, Nigeria’s currency. In a statement on Friday, signed by...
Amazon To Eliminate Over 18,000 Jobs
Amazon announced Wednesday it will cut more than 18,000 jobs from its workforce, citing “the uncertain economy” and the fact the online retail giant had “hired rapidly” during the pandemic. “Between the reductions we made in November and the ones we’re sharing today, we plan to eliminate just over 18,000 roles,” said CEO Andy Jassy in a statement to staff. US...
