The investment in the global oil and gas upstream sector has increased by 39 per cent to $499bn in 2022, the highest level since 2014 and the most significant year-on-year gain in history.
This was according to a new report by the International Energy Forum and S&P Global Commodity Insights.
The report claimed that higher costs primarily drove the increase in investment. Also, the global rig…
The Chartered Institute of Bankers of Nigeria on Friday said it was liaising with the Body of Banks’ Chief Executive Officers to address the current challenges occasioned redesign of the N1,000, N500, and N200 notes.
It said the banks would continue to remain open to…
Problems accessing new Naira banknotes could increase as bank workers go on strike starting Monday.
The industrial action, is owing to attacks on bank workers by depositors of the old N,1000, N500 and N200 notes.
The Association of Banking, Insurance and Financial…
The Central Bank of Nigeria has ordered banks to start collecting the old N500 and N1,000 notes from the public with immediate effect.
It, however, pegged the maximum amount the banks can collect at N500,000.
The CBN maintained that the old currencies were no more legal tender.
A source from the bank said the CBN ordered the banks to collect the monies instead of going to the CBN office following…
Nigeria’s inflation soared to 21.82 per cent in January 2023, according to the National Bureau of Statistics.
This is amid a redesign of the naira by the Central Bank of Nigeria. January’s inflation rate is a 0.48 per cent point increase from the 21.34 per cent that…
Some fish traders on Wednesday in Ibadan protested the rejection of old naira notes by cold room operators, saying the development lead to losses on their part.
The traders, comprising aged women, had converged on the premises of Agidigbo 88.7FM along Iwo Road-Ojoo…
Protest has erupted in Akure, the Ondo State capital, over the refusal of commercial banks to receive old naira notes from customers as well as pay out new notes.
The protest began at the First Bank, Alagbaka by angry customers who had waited for several hours without being attended to, according to a report by The Nation.
Other banks in Akure have shut businesses to avoid being…
The Supreme Court on Wednesday affirmed the validity of the use of old 200, 500 and 1000 naira notes.
The apex court maintained that the February 8 hearing which paused the implementation of the February 10 deadline ban on the use of old naira notes still subsists.
The…
The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said that Point of Sale agents who charge above N200 for the CBN cash swap programme will be arrested and jailed when caught.
He said this on Tuesday during a visit to the Ministry of Foreign Affairs, to…
New Naira: Falana fires CBN for failing to comply with Supreme Court ruling.
February 14, 2023
Rights activist and Senior Advocate of Nigeria, Femi Falana, has lambasted the Central Bank of Nigeria for allegedly flouting the interim injunction of the Supreme Court suspending the implementation of the February 10 deadline on the use of the old banknotes.
The CBN had moved the deadline earlier set for the expiration of the legal tender status of the old notes from January 31 to February 10…