The Central Bank of Nigeria has threatened to investigate, arrest and prosecute anyone spreading fake news about the naira redesign policy.
This threat was contained in a statement on Tuesday jointly signed by the CBN’s Deputy Governor, Corporate Services, Edward Adamu, and Director, Corporate Communications, Osita Nwanisobi.
The CBN in reaction to a purported press release shared on the…
Nigeria’s foreign exchange reserves fell $427.14 million this month, data from the Nigerian Central Bank showed on Monday. This is due to the fact that the currency crisis in the country was exacerbated by the shortage of new naira banknotes.
According to CBN’s…
Despite the introduction of cashless payment systems in many parts of Nigeria, Nigerian railway companies insist on paying for their operations in cash, especially on the Lagos-Ibadan route.
While other companies have explored POS services and online banking, it has been…
Six people have died in the earthquake that hit the Syrian-Turkish border on Monday, just two weeks after more than 47,000 people died and hundreds of thousands of homes were destroyed.
The latest quake measuring 6.4 on the Richter scale struck near the city of Antakya in southern Turkey and was also felt in Syria, Egypt and Lebanon, Reuters reported on Tuesday. The European Mediterranean Seismic…
Lagos State governmentis set to commence rehabilitation of wastewater infrastructure in Abesan, which is structured to be executed in phases.
General Manager, Wastewater Management Office (LSWMO), Adebola M. Matanmi stated this during a meeting with the Abesan Estate…
The Fintech Association of Nigeria has stated that challenges with the execution of the country’s cashless policy may erode customers’ trust in the banking system.
It said increasing merchants’ demand for cash payment despite empty ATMs, putting overwhelming pressure…
Many Nigerians are still paying far above N185 per litre approved pump price of petrol amid fuel scarcity, a report of the National Bureau of Statistics has indicated.
The members of the Major Oil Marketers Association of Nigeria, and NNPCL Retail outlets, sold the product at N185 per litre to consumers, while members of the Independent Petroleum Marketers Association of Nigeria on the other hand…
The chaos trailing the cash scarcity has assumed a worrisome dimension with the organised private sector raising the alarm that the crisis has grounded the economy.
Members of the organised private sector including the Lagos Chamber of Commerce and Industry, Nigerian…
The Lagos Chamber of Commerce and Industry has warned that the sustained rise in the general price level in recent times has caused some weakening in purchasing power.
The chamber, in a statement signed by its Director-General, Chinyere Almona, said the rising inflation had…
Stock investors lost N281bn at the end of trading on the floor of the Nigerian Exchange Limited last week.
The NGX All-Share Index and market capitalisation depreciated by 0.96 per cent and 0.95 per cent to close the week at 53,804.46 and N29.310 trillion respectively.
Also, all other indices finished lower with the exception of NGX Premium, NGX Insurance, NGX MERI Growth, NGX Consumer Goods, NGX…