Agriculture

Ecobank, IITA supports 16,000 youths in agriculture

Ecobank Nigeria Limited has stated that it has entered into a partnership with the International Institute of Tropical Agriculture to train and provide support services to 16,000 Nigerian youths on wealth creation through agriculture. The bank said in a statement that the training was targeted at young Nigerians between the ages of 18 and 40 and would cover key areas of specialisation including…
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Banking

Local experts are divided on the collapse of the US bank.

Some experts have expressed different opinions about the impact of the collapse of the American bank, Silicon Valley Bank, on the Nigerian economy. Regulators closed SVB Financial Group and its subsidiary, Silicon Valley Bank, on Friday and seized its deposits in what is the…
Economy

Head of Afreximbank on economic growth

The President and Chairman Board of Directors of African Export-Import Bank, Professor Benedict Oramah, will lead discussions on critical issues that will give further insights into the economic transformation of Africa at the 2023 Annual Lecture of The Chartered Institute…
Banking

Naira crisis: banks ration old notes, NLC demands 7-day ultimatum.

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…
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Markets

Oil marketers reject old Naira notes despite CBN policy.

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…
Banking

Emefiele eventually gives up and says that the old naira notes are legal tender.

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…
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Banking

Old Naira Notes Remain Legal Tender-Sanwo Olu

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…
Banking

Passengers and others are having a hard time as old notes continue to be debited.

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…
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