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…
Meta promises continued investment even after the departure of high-ranking officials.
February 14, 2023
MEta, the parent company of social media platforms, Facebook, Instagram and WhatsApp, has said it will continue to invest in its platforms to encourage growth.
In a statement by the tech company on Monday, it announced the exit of its Chief Business Officer, Marne…
The Debt Management Office has announced that it raised N724.9 billion in February 2023 Federal Government bond auction.
DBO said it was a 100% increase compared to the previous year.
The auction, which was held on February 13, 2023, saw a total of 577 bids worth N724.9…
The Central Bank of Nigeria seized N365.24m counterfeit notes between 2016 and 2020,
The figures were collated from the CBN’s annual report for each year available on its website.
The 2017 CBN annual report noted that the bank seized 77,576 pieces of counterfeit banknotes, valued at N51.45m in 2016.
The 2018 report showed that N93.43m fake notes were seized in 2017 and N98.82m in 2018.
The…
Report: The price of fuel in stores market increased by 110% in four months.
February 14, 2023
Ex-depot price of Premium Motor Spirit otherwise known as petrol has risen by 110 per cent in four months,
The data showed that the ex-depot price rose from N148 per litre last October to an average of N312 per litre on February 3 this year.
As the sole importer of petroleum…
Naira Deadline: Banks and fuel stations reject old bills, ignoring Supreme court orders.
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…
Two Nigerian startups received $300,000 after attending the 2nd LEAP Technology Expo in Riyadh, Saudi Arabia.
Two startups are RiceAfrika Technologies and Wicrypt Technologies.
They became winners in various categories of the rocket fuel competition, which was attended by Professor Isa Pantami, Minister of Communications and Digital Economy.
More than 10,000 startups from different countries have…