Deposit Money Banks have begun to ration the disbursements of old N1,000 and N500 notes to their customers amid uncertainty over whether the Central Bank of Nigeria will release the old notes in its custody.
This came about 24 hours after the CBN Governor, Godwin Emefiele, announced that old N1,000, N500 and N200 notes remained legal tender.
But despite the CBN’s statement on Monday night…
The board of Dangote Sugar refinery plc has appointed Yabawa Lawan Wabi, as an Independent Non-Executive Director.
According to a corporate notice signed by the Company Secretary, Temitope Hassan, the appointment was approved by the board at its meeting held on February…
The Federal Airports Authority of Nigeria has announced that Runway 18R and 36L of the Murtala Muhammed International Airport, Lagos, will be shut for eight weeks down for maintenance.
The Runway 18R and 36L is specifically dedicated for international flights. Following the…
An increase in failed payment transactions in February caused a 4.83 per cent decrease in the value of cashless transactions to N37.67tn from the N39.58tn that was recorded in January 2023.
This came as the usage of epayment gateways recorded a 41.29 per cent month-on-month increase according to new data from Nigeria Inter-Bank Settlement System.
In February, cashless gateways were used 901.46…
Oil marketers, on Monday, insisted that they were no more interested in the old naira notes and would not collect them from the public, despite claims that the Central Bank of Nigeria had cleared the bills for the transaction.
It was also gathered that Deposit Money Banks…
Nigerians applying for passports will be charged N1000 in Nigeria for the verification of their National Identification Number.
The National Identity Management Commission disclosed this in a statement signed by its Head, Corporate Communications, Kayode Adegoke, on…
Emefiele eventually gives up and says that the old naira notes are legal tender.
March 14, 2023
Exactly 10 days after the Supreme Court judgement mandating the use of old N,1000 and N500 notes as legal tender till December 31, 2023, the Central Bank of Nigeria Governor, Godwin Emefiele, on Monday bowed to pressure and officially ordered commercial banks to comply with the court verdict.
He also announced that the old N200, N500 and N1,000 would remain legal tender till the end of the…
The Lagos State Government has noted the hardship sparked by the Naira redesign policy, which has affected business and commercial activities.
There is no reason to reject the old notes, going by the Supreme Court judgement delivered on March 3, 2023.
The apex court declared…
Power generation on the national grid has continued to hover above 4,000 megawatts since January this year, following the deployment of transformers, substations and other accessories to boost supply.
Grid performance data obtained from the Federal Ministry of Power in Abuja…
Passengers and others are having a hard time as old notes continue to be debited.
March 13, 2023
The rejection of old notes by transport operators, fuel stations, traders, and other businesses continued over the weekend, leaving many bank customers, workers and commuters stranded in various parts of the country.
Several people found very difficult to go to their workplaces and business places as the scarcity of the new naira notes bites harder amid a mass rejection of the old notes.
Deposit…