Banking

Naira Deadline: Banks and fuel stations reject old bills, ignoring Supreme court orders.

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February 14, 2023
Some commercial banks and filling stations have stopped collecting the old naira notes from customers, contrary to the ruling of the Supreme Court restraining the Federal Government from enforcing the February 10 time limit earlier fixed by the apex bank for the currency swap. on Monday indicated that the banks refused to accept the old N1,000, N500 and N200 notes from depositors and…
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Banking

Bank Jaiz announced a profit of N6.67 billion.

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February 10, 2023
Jaiz Bank, the Premier Non-Interest Bank in Nigeria has recorded a N.67 billion Profit Before Tax, at the close of its 2022 operation year. The figure, according to the statement by the bank, yesterday, represented a significant increase in Profit Before Tax (PBT) by 52.63%…
Banking

Old Naira Note: We will follow the decision of the Supreme Court. FG said

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February 10, 2023
The Federal Government has said it would obey the ruling of the Supreme Court suspending the February 10 deadline given by the Central Bank of Nigeria, CBN on the exchange of naira notes. Recall that the apex court in its ruling on Wednesday, suspended the February 10 deadline on the old naira notes which expires today. The Attorney General of the Federation, Abubakar Malami, who confirmed this in…
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Aviation

Nigerian Airlines is flying soon - FG

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February 9, 2023
The Federal Government said yesterday that Nigeria Air will soon start flying, having got the aircraft ready and painted in its colours. The Minister of Aviation, Senator Hadi Sirika, disclosed this while briefing State House correspondents at the end of the weekly Federal…
Banking

Old Naira: Supreme Court decision overturned, invoke Executive Order- CSO's Buhari said.

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February 9, 2023
The Civil Society Central Coordinating Council, the apex body of all civil society groups in Nigeria, has rejected the exparte order made by the Supreme Court restraining the CBN and President Muhammadu Buhari from terminating the use of the old N200, N500 and N1000 bank notes. The group therefore called on President Buhari to immediately consider issuing Executive Orders to bring to effect the…
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Banking

New Naira: World Bank Warns IMF, CBN Postpones S'Court Friday Deadline.

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February 9, 2023
The Supreme Court on Wednesday restrained the Federal Government from implementing the Friday deadline for the currency swap. A seven-man panel of the apex court led by Justice John Okoro, in a unanimous ruling, granted an interim injunction restraining the Federal Government, the Central Bank of Nigeria and commercial banks from implementing the Friday terminal date for the old naira notes. Also…
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