Judiciary

Supreme Court fixes March 3 for Verdict on New Naira

Web News 22 February 2023 366 0

The Supreme Court on Wednesday adjourned judgement in the new naira policy suit to March 3, 2023. With the apex court’s decision, Nigerians, especially consumer and business groups as well as professional and trade unions looking up to the apex court for a favourable judgment (today) that they Continue Reading

Economy

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

Web News 20 February 2023 404 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 804 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

Breaking: New Notes Scarcity causes Unrest in Lagos

Web News 17 February 2023 432 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

Security

Ibadan Residents Protest Scarcity of Cash

Web News 15 February 2023 927 0

By Rasheedah Makinde There was pandemonium on Wednesday morning around the Eleyele, Gbopa, Ologuneru, Apete, Sango, and Poly road axis of Ibadan as transporters protested the scarcity of cash. Witnesses at the scenes told Radio Nigeria that the transporters were obstructing the free flow of vehicular and pedestrian movements around the areas. The transporters were […]Continue Reading

Economy

Naira Scarcity: No Allotted Number, No Withdrawal, Nigerians Cry Out

Web News 6 February 2023 379 0

By Olaolu Fawole, Anjola Agboola, Tawakalt Famiyiwa Scarcity of new naira notes of 200, 500 and 1000 has been biting harder in Nigeria, since the introduction of the redesigned naira notes by the Central Bank of Nigeria, CBN. Radio Nigeria Correspondents, who monitored the situation in Ibadan, on Monday, said withdrawal from commercial banks’ ATMs […]Continue Reading

Economy

Protest: ATMs Deserted as Customers Flee for Safety

Web News 3 February 2023 1425 0

By Olaitan Oye-Adeitan The long queues of customers who had waited endlessly at the ATM points for new naira notes had vanished following the protest that rocked some parts of Ibadan, Oyo State on Friday over lingering fuel and naira scarcity. Customers had daily waited at the ATM points hoping to withdraw money but to […]Continue Reading

Economy

Raging Anger As Nigerians Protest Non-Availability of Fuel & Naira

Web News 1 February 2023 420 Post a comment

By Olaitan Oye-Adeitan Nigerians are beginning to lose patience over their continued struggle at the filling stations and  Automated Teller Machines, ATM  with no availability of either fuel or the new naira notes. Some aggrieved people who stormed the premises of Radio Nigeria Ibadan on Wednesday expressed bitterness that they could not get physical cash […]Continue Reading

Economy

Endless Scramble for Sparse New Notes as Hands Reject the Old

Web News 28 January 2023 450 Post a comment

By Olaitan Oye-Adeitan Had it been money could talk, perhaps the new naira notes would have voiced to the public what exactly is the true picture of its non-availability to the people who spend their precious time desiring to withdraw the new notes at the Automated Teller Machines, ATM every day. Since its official launch […]Continue Reading

Economy

Banks to pay 1m per day for refusing new naira notes – CBN

Web News 24 January 2023 392 0

By Adenitan Akinola The Central Bank of Nigeria, CBN, is to impose a one million naira fine on commercial banks per day for each box of new naira notes they refused to pick and disburse to their customers ahead of Tuesday next week’s deadline.  The CBN Deputy Director in charge of Research, Mr Adeleke Adelokun […]Continue Reading

Economy

New Naira Notes: Ibadan Residents Disappointed Over Non-availability

Web News 15 December 2022 842 0

Residents of Ibadan, the Oyo State capital, today besieged banks’ Automated Teller Machines, ATM points with excitement to withdraw new naira notes but were disappointed as they were paid with the old notes.  Our Correspondent, Olukemi Akintunde who moved around commercial banks and ATM points in the Dugbe axis to ascertain compliance with CBN’S Continue Reading

Economy

New Naira Notes Enter Circulation Today

Web News 15 December 2022 560 0

…Banks begin reconfiguration of ATMs to recognise new naira notes The newly redesigned naira notes will go into circulation on Thursday with Deposit Money Banks releasing the bills to their customers via over-the-counter payments. This came about three weeks after President Muhammadu Buhari unveiled the new bills at a weekly Federal Executive Council meeting in […]Continue Reading

Economy

Redesigning of Naira Notes, Good or Bad?

Web News 2 November 2022 1105 0

By January 31, 2023,  the existing naira notes would cease to be legal tender following the plan by the Central Bank Of  Nigeria to redesign  N200, N500 and N1000 notes by December 15, 2022. Upon the announcement, the development has been attracting widespread speculations among Nigerians. To shed more light and clear grey areas on […]Continue Reading

Economy

New Naira Notes; Advantages and Disadvantages

Web News 1 November 2022 12131 Post a comment

The Central Bank of Nigeria, on October 26, announced its decision to redesign new N200, N500 and N1000 notes by December 15, 2022. According to the apex bank, the existing notes would cease to be a legal tender by January 31, 2023.  What does this development portend for the nation’s economy and the lives of […]Continue Reading