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 had yet to communicate any directive to oil marketers as regards the collection of the old naira notes.
Marketers of Premium…
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 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 on Sunday showed that electricity generation on the national grid as at 6am on the same day was 4,456.8MW.
On the preceding…
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…
The Edo State government-backed Edo Modular refinery has ordered the supply of 150,000 barrels of crude to meet the demand of its growing clientele base, weeks after commencing production.
This was revealed in a statement signed by the Special Assistant on Media Projects to…
The closure of the United States-based Silicon Valley Bank, the bank of choice for many venture capitalists and startups, may affect Nigerian startups according to industry players.
On Wednesday, March 8, SVB surprised investors with news that it was seeking to raise $2.25bn to maintain liquidity. Within the next couple of hours, a bank run occurred after VCs advised their startups to withdraw…
One of Nigeria’s leading financial institutions, Wema bank commemorated the 2023 edition of the International Women’s Day on March 8th in grand style as women from various fields converged on the prestigious Civic Center in Lagos to discuss the significance of gender…
The economy remained subdued in December as the Purchasing Manager’s Index was below 50.0 index points, according to the Central Bank of Nigeria.
The CBN released in the reports of members of the Monetary Policy Committee member that the PMI, which is an index of the…
Union Bank of Nigeria has reaffirmed its commitment to a just and equitable society by promoting equity, justice, and the continuous inclusion of women in all fields of human endeavour, particularly in technology.
A statement said this was highlighted at a virtual event hosted by the bank’s internal women’s network called the Women Empowerment Hub, in honour of International Women’s Day…