BUSINESS
Senate Backs Naira Redesign, Seeks Extension Of Mop Up Timeline For Old Notes
The Senate on Wednesday endorsed the proposed redesign of the country's official currency, Naira note by the apex bank, Central Bank of Nigeria but not without seeking the extension of deadline to mop up old notes. The Senate insists that the deadline of Tuesday, January 31 2023 to pay all cash in circulation into banks was too short and should...
Omoniyi Bows Out As ANAN FCT 1 Chairman
After two years of fruitful sojourn as the chairman of Association of National Accountants of Nigeria, ANAN FCT 1 Abuja branch, Wahab Shina Omoniyi on Saturday officially took his exit. He handed over mantle of leadership to his successor, Shavah Elisha Andrew who emerged through a virtual electioneering exercise at Merit House Maitama Abuja. Elected at the peak of COVID-19 in...
Petrol To Cost N410 Without Subsidy, Says NNPC
Without the current subsidy on petrol, the actual importation and retail cost would be at N410 per litre as market conditions take price to thrice of N170 pump price, said the Group Chief Executive Officer of NNPC Limited, Mele Kyari. ABN TV reported on Tuesday that marketers are pushing for over N200/l as some stations in Abuja city centre sold...
Nasarawa Governor, Abdullahi Sule Expresses Shock Over Reduction In Naira Value
Governor Abdullahi Sule of Nasarawa State has expressed shock over the continued fall in value of naira against the dollar. He, however, hoped the situation would be reversed soon. The governor, who spoke in an interview on Channels Television’s ”Politics Today” programme on Wednesday night, said he was extremely worried over the move of the Central bank of Nigeria, CBN, to...
How Orji Kalu’s N3m Loan Revived My Hope, Made Me A Millionaire — Chijioke Mba
Interest-free loans disbursed to Nigerians by the Senator representing Abia North, Dr. Orji Uzor Kalu through his foundation, Orji Uzor Kalu Foundation is yielding good fruits as a recipient tells his story. Chijioke Mba, a native of Ohafia in Abia North Senatorial zone, but resides in Aba, said that the Orji Uzor Kalu’s loan has benefited his business. Mba said he...
Buhari Approves Naira Notes Redesign
President Muhammadu Buhari on Sunday voiced his support for the decision of the Central Bank of Nigeria, CBN to launch new designs and replace high-value Naira notes. This was as he noted that the nation would gain a lot by the new initiative, especially its impact on illicit monies. According to a statement signed by his Senior Special Assistant on Media...
$1 Now ₦788, We Are Not Aware Of Naira Redesigning – Finance Minister
Minister of Finance, Budget, and National Planning, Zainab Ahmad, has disassociated her ministry from the planned move by the Central Bank of Nigeria ( CBN) to redesign the naira. The minister, who commented on the policy in response to a question raised by Senator Opeyemi Bamidele (APC Ekiti Central) during the 2023 budget defense session with the Senate Committee on...
Court Bars Kogi State Govt From Shutting Down Dangote Cement Operations
A Federal High Court in Abuja has restrained the Kogi State government and its agents from further disrupting the operations of Dangote Cement Plc and its associated companies in the state. In a ruling yesterday, Justice Binta Nyako also restrained the state government and its agents from further shutting down, disrupting or suspending the activities of Dangote Coal Mines Limited...
CBN To Redesign N200, N500 And N1,000 Notes To Control Circulation
The Central Bank of Nigeria (CBN) on Wednesday said it will redesign the N200, N500, and N1,000 notes. CBN Governor, Godwin Emefiele, disclosed this during a special press briefing in Abuja. The new design and issues will be effective from December 15, 2022. The action was taken in order to take control of the currency in circulation, according to the CBN...
Naira Gains Marginally Against Dollar, Exchanges At 441.25
The Naira on Monday exchanged N441.25 against the dollar at the Investors and Exporters window, making a slight appreciation. The figure represented a slight increase of 0.03 percent when compared to the N441.38 it exchanged for the dollar before the close of business on 14 October. NAN also reports that the open indicative rate closed at N439.63 to the dollar on...
