First Edition of the Tastemakers Wine Series Hosted by Vendease

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BankingEconomy

The naira crisis worsened as the currency in circulation fell to 1.54 trillion naira.

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February 20, 2023
As the Naira crisis worsened, the total amount of money in circulation in the Nigerian economy fell from 3.3 trillion naira to 1.54 trillion naira, according to documents from the Central Bank of Nigeria. This was due to a huge shortage of new naira banknotes, while a dire shortage of the old currency caused great hardship and suffering for millions of Nigerians and left some stranded. According…
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Agriculture

Farmers have lower FG scores for food security.

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February 19, 2023
Farmers in the country under the aegis of the United Integrated Farmers Association of Nigeria have scored the regime of the President, Major General Muhammadu Buhari (retd.), low in tackling the nation’s current food crisis. The organisation said there had not been…
Brands & People

The company promotes innovations in furniture production.

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February 19, 2023
Iròkó, Nigeria’s furniture and lifestyle brand has said as part of its efforts at boosting innovation in the sector, it launched a ready-to-assemble sofa and bed frame collection specially designed. In a statement on Friday, it said the sofas and beds were durable, stylish and could be assembled easily with little effort and in very little time. It stated, “They fit into tight spaces…
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Banking

New naira: Banks will ensure workers’ safety – CIBN

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February 19, 2023
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…
Uncategorized

Obasanjo’s in-law bags seven-year imprisonment.

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February 18, 2023
Justice Mojisola Dada of an Ikeja Special Offences Court has sentenced former President Olusegun Obasanjo’s in-law Dr. John Abebe to seven-year imprisonment for laundering and forgery. Justice Dada however gave the convict an option of fine of N50million to be paid within…
Banking

Bank workers may go on strike on Monday.

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February 18, 2023
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 Institutions Senior Executives (ASSBIFI) has ordered bankers to leave as banks are under attack due to lack of depositor liquidity. The…
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Banking

Just In: CBN orders banks to collect old N500, N1,000 notes.

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February 17, 2023
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…
Economy

Inflation rose to 21.82% amid the naira redesign.

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February 15, 2023
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…
Markets

Fish sellers protest Ibadan's rejection of old naira banknotes.

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February 15, 2023
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 Expressway in a peaceful demonstration to pass across their grievances to the state government and the Central Bank of…
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