Economy

Travails of Bank Customers as Queue Persists for Cash

Web News 20 March 2023 102 0

By Olaitan Oye-Adeitan There appears to be no end in sight yet to the daily struggle for naira notes by Nigerians who spend almost the whole day in Banks. It’s almost two months now that Nigerians have been grappling to withdraw cash from their bank accounts but encountering different Continue Reading

Economy

BREAKING: CBN Obeys Court Order, Says Old Naira Notes Remain Legal Tender

Web News 13 March 2023 279 0

By Olaolu Fawole The Central Bank of Nigeria (CBN) says the old N200, N500 and N1000 notes remain legal tender until December 31, 2023. Isa Abdulmumin, CBN spokesperson, announced the development in a statement on Monday and also on the verified social media pages of the apex bank. “In compliance with the established tradition of […]Continue Reading

Economy

Govs Declare Rejection of Old Naira Notes Illegal

Web News 13 March 2023 135 0

Lagos State Governor, Babajide Sanwo-Olu has called on residents, business owners, and especially retailers to accept the old N500 and N1,000 notes – in line with the Supreme Court judgement which ruled that the currency remains legal tender until December 31, 2023. Sanwo-Olu made the call in a statement through the Commissioner for Information and […]Continue Reading

Economy

Gov Adeleke Frowns as Banks Reject Old Notes

Web News 12 March 2023 161 0

By Funmi Adekoya The Governor of Osun State, Senator Ademola Adeleke has decried the maltreatment of residents of the state by banks which refused to collect old currency notes even after paying customers with old notes. In a statement issued by the Governor’s Spokesperson, Mallam Olawale Rasheed, the Governor lamented the pains and suffering of […]Continue Reading

Economy

Govs Warn Traders against Rejecting Old Naira Notes

Web News 12 March 2023 174 0

The Ekiti State Government has warned citizens of their states not to reject the old naira notes as means of transaction in line with the Supreme Court judgement otherwise they would be arrested and face prosecution. The Abia State Government also threatened to sanction anyone found rejecting the old notes. Ekiti State Governor, Biodun Oyebanji, […]Continue Reading

Economy

Naira Crisis: States Mull Contempt Proceedings against Malami, Emefiele

Web News 11 March 2023 139 0

…serve AGF Supreme Court judgment, demand immediate compliance Some state governments are planning to initiate contempt proceedings against the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, and Governor of the Central Bank of Nigeria, Godwin Emefiele, over their refusal to implement the Supreme Court judgment on the naira redesign policy Continue Reading

Economy

Silicon Valley Bank Share Slump Hits Financial Stocks

Web News 10 March 2023 138 0

Shares in Silicon Valley Bank (SVB), a key lender to technology start-ups, plummeted on Thursday as investors moved to withdraw their deposits. The slide came a day after the bank announced a $2.25bn (£1.9bn) share sale to help shore up its finances. Shares in banks have fallen around the world – with the four largest […]Continue Reading

Economy

I’ll fulfil my campaign promises- Gov Adeleke

Web News 7 March 2023 148 0

By Funmi Adekoya Osun State Governor, Senator Ademola Adeleke says his administration is focused on ensuring good governance and satisfying the needs of the people of the state. Governor Adeleke stated this at a media briefing to mark his 100 days in office at the Exco Lounge of the Governor’s office, Abere, Osun State. He […]Continue Reading

Economy

Adeleke Unveils Osun Digital Economy Policy

Web News 7 March 2023 174 0

By Funmi Adekoya Osun State Governor, Senator Ademola Adeleke says his administration is set to open up the field of global opportunities to youth under the Imole Digital Agenda and resolve citizens’ challenges through technology applications. Governor Adeleke stated this at the unveiling of State Digital Economy Policies and Flag-off of Osun State Broadband Fiber Continue Reading

Economy

Rowdy Session as Customers Struggle to Withdraw Cash

Web News 6 March 2023 169 0

By Olubunmi Agboola For better viewing check it out on Youtube, https://youtube.com/shorts/QSqYwubyNWI?feature=shareContinue Reading

Economy

Supreme Court’s Verdict Sees PoS Charges Tumble by 90%

Web News 4 March 2023 162 0

Following the Supreme Court’s ruling that the old N200, N500 and N1,000 notes should remain legal tenders until December 31, some Point of Sale, PoS, operators, yesterday, reduced cash withdrawal charges by as much as 90 percent, even as they commenced disbursement to the public. A PoS agent in Marina, Miss Ramota Salami, said she […]Continue Reading

Economy

New Naira: Olubadan Hails Judgment, Tasks FG on Easing Nigerians’ Pains

Web News 4 March 2023 134 0

By Maxwell Oyekunle The Olubadan of Ibadanland, Oba Senator Lekan Balogun, Alli Okunmade II, has tasked the Federal Government to use the Supreme Court judgment on the legality of the old currency notes to ease the pains and tension in the land. Oba Balogun who gave this reaction in a press statement made available to […]Continue Reading

Economy

Old Naira Notes: Supreme Court Orders Circulation Till Dec 31st

Web News 3 March 2023 190 0

The Supreme Court on Friday ordered that old N200, N500, and N1,000 notes remain in circulation till December 31, 2023. According to apex court also nullified the Federal Government’s naira redesign policy, declaring it as an affront to the 1999 Constitution. Justice Emmanuel Agim, who read the lead judgement, held that the preliminary objections by […]Continue Reading

Economy

Election Eve: Nigerians Engage in Last Minute Shopping

Web News 24 February 2023 157 0

By Olaitan Oye-Adeitan The atmosphere could be likened to that of a festive season as residents of Ibadan storm the market and shopping malls on Friday,24th February, the eve of the presidential and national assembly election, to purchase food and other items before the election. Radio Nigeria Correspondent observed that the markets which had been […]Continue Reading

Economy

Ogun Traders Decry Hardship over Naira Scarcity

Web News 24 February 2023 189 0

Olajumoke Idowu  Ahead of Saturday’s Presidential and National Assembly elections,  traders in Abeokuta the Ogun State capital want the Federal Government to find a lasting solution to the scarcity of new naira notes and fuel crises which have grossly affected the buying and selling of food items during this period. A frozen foods seller at […]Continue Reading

Economy

Gov. Adeleke Calls for Sanctions Against Banks Hoarding New Naira Notes

Web News 20 February 2023 166 0

By Funmi Adekoya The Osun State, Senator Ademola Adeleke urges the Central Bank of Nigeria, CBN, to sanction financial institutions involved in the hoarding of new naira notes. Addressing CBN officials in his office, Governor Adeleke decried the increasing shortage of the new notes, explaining that, he has been deploying state networks to douse tension […]Continue Reading

Economy

New Naira Notes Scarcity: Banks Pay across Counters, Ignore ATM

Web News 20 February 2023 576 0

Adetutu Adetule/Tawakalt Famuyiwa Commercial banks in some parts of Ibadan have started paying the old N200 notes across the counter. Radio Nigeria correspondent who visited some banks around the Dugbe axis of the metropolis observed that ATMs were not dispensing although people loitered around them. A customer, Mr John Akinshola, said he was given the […]Continue Reading

Economy

CBN Denies Authorising Commercial Banks to Collect Old #500, #1, 000 Naira Notes

Web News 17 February 2023 286 0

The Central Bank of Nigeria, CBN, has denied reports circulating on the social media that it has asked deposit money banks to collect the old N500 and N1,000 banknotes. In a statement on Friday, CBN, Director of Corporate Communications, Osita Nwanisobi said, the apex bank has not authorized any bank to receive the deposit of […]Continue Reading

Economy

Breaking: New Notes Scarcity causes Unrest in Lagos

Web News 17 February 2023 168 0

Fighting erupted in some areas on the popular Lagos-Ikorodu expressway in Lagos State over the scarcity of the new naira notes and the hardship the policy has thrown Nigerians. On Friday morning, it was gathered that some suspected louts in Mile 12, Ketu and Ojota areas on the expressway, took to the road attacking commuters […]Continue Reading

Economy

Ondo Residents Express Divergent Views on Old N200 Notes

Web News 16 February 2023 234 0

Some residents of Akure, the Ondo State capital want the Federal Government and the Central Bank of Nigeria to comply totally with the Supreme Court order rather than dance around it. Reacting to President Muhammadu Buhari’s national broadcast, the residents, who spoke with Radio at FUTA North gate area, insisted that returning only the old […]Continue Reading

Economy

Hope Dashed as Banks Shut Door Against Customers

Web News 16 February 2023 184 0

The hope of customers to receive cash across the counter got dashed as commercial banks shut their doors against them. The bank premises in Dugbe axis were stormed by a crowd of customers in anticipation of changes to their previous experiences following President Muhammadu Buhari’s National Broadcast in the early hours of Thursday extending the […]Continue Reading

Economy

Full Text of President Buhari’s Speech on Naira Redesign Policy Crisis

Web News 16 February 2023 534 0

President Muhammadu Buhari on Thursday addressed the nation over the crisis generated by naira redesign policy. In the broadcast, Mr President, who said he sympathized with Nigerians for the distress encountered, announced an extension of the deadline to April for old N200 notes while N500 and N1000 notes are to be deposited with the Central […]Continue Reading

Economy

Nigerians Heave Sigh of Relieve over Naira Deadline Extension

Web News 16 February 2023 250 0

By Titilayo Kupoliyi Nigerians have expressed satisfaction and relief at the decision of President Muhammadu Buhari to extend the validity of the N200 old notes as legal tender in the country. President Buhari extended the validity of the old N200 notes till April 10, 2023. The president announced this in a national broadcast on Thursday […]Continue Reading

Economy

Naira Policy: Lawmaker Lauds FG on Extension of Deadline

Web News 16 February 2023 164 0

The Chief Whip of the Osun State House of Assembly, Hon Tunde Olatunji has called for caution in the implementation of the naira redesign policy by the Central Bank of Nigeria, CBN, in order not to crash the economy. Hon Olatunji, who is a financial expert, stressed that the apex bank could not sterilize currency […]Continue Reading

Economy

Buhari Extends Validity of Old 200 Notes

Web News 16 February 2023 201 0

By Oluwayemisi Owonikoko President Muhammadu Buhari has extended the validity of the old N200 notes till April 10, 2023.The president announced this in a national broadcast on Thursday Monday.“I am addressing you as your democratically elected President to sympathise with you over the hardship being experienced as a result of the naira redesign policy.”“To further […]Continue Reading