BREAKING: ‘ISWAP’ Do Giveaway With Old Naira Notes On Borno Highway
Ahead of the deadline for the swapping of old naira notes for the newly redesigned ones and the implementation of the cashless policy, suspected members of the Islamic State of West Africa Province (ISWAP) have distributed huge amounts of old notes to scores of commuters in the Lake Chad Basin in Borno State. Egalitarian Voice […]
New Notes Scarcity: CBN Issues Fresh Directive To Banks
The Central Bank Of Nigeria, (CBN) has directed all commercial banks to pay customers over the counter in N100, N50, N20, N10, and N5 notes, regardless of the amount withdrawn. EGALITARIAN VOICE News reports that Bankers Committee issued the directives to all commercial banks in the country on Monday, and also announced the discontinuation of […]
BREAKING: At Last, CBN Extends Deadline For Old Naira Notes
The Central Bank of Nigeria has finally extended the deadline for the exchange of old naira notes by 10 days. In a press statement issued on Sunday, Godwin Emefiele, the CBN governor, said the new deadline is February 10, 2023. More details later….
Naira Redesign: Traders, Businesses Rejecting Old Notes – Banks run out of cash for ATMs
Some traders and businesses within Lagos and Ogun State axis have started rejecting the old N200, N500 and N1000 denominations for transactions, five days ahead of the January 31st deadline for them to cease to be legal tender. The traders and business owners are insisting on receiving the new redesigned notes, which are still low […]
Despite Selling Above N200/Litre, Read What FG Says About Petrol Price
Despite long queues and above N200 per litre pump price of Premium Motor Spirit (PMS) across states, the Federal Government yesterday insisted that the pump price of the product remains at N170 per litre. The Minister of State Petroleum Resources, Timipre Sylva, in a press release, denied any increase in the price of PMS. But […]
Murtala Mohammed Airport Custom makes 25 Percent Revenue Increase in 2022
N69.8 billion was collected as revenue in 2022 by the Murtala Mohammed Airport Command of the Nigeria Customs Service compared to the N55.67bn it generated in 2021. Customs Area Controller, Sambo Dangaladima made the disclosure while presenting the command’s revenue profile for 2022. He explained that the area command never had it so good, saying that […]
Allocation: FG, States, LGs Share N990.2bn For December
The Federation Account Allocation Committee (FAAC) has shared N990.189 billion to the three tiers of government for December 2022. Phil Abiamuwe-Mowete, Director (Information/Press), Ministry of Finance, Budget and National Planning, gave the details. The Federal Government received N375.306billion, States and the FCT received N299.557billion, while the 774 Local Government Councils got N221.807billion. The N990.189billion received […]
Rising Inflation, Unemployment Will Persist – Report
A report by Money Africa has said that Nigerians need to get out of bad debts to survive the financial challenges in 2023. It noted that the residual effect of the pandemic, Russian Ukraine war and high inflation had affected the finances of Nigerians and led to loaning from every means possible to survive. In […]
Full Implementation Of Cashless Policy Starts Today
In 2012, the Sanusi Lamido-led Central Bank of Nigeria (CBN) introduced cashless policy with the aim of reducing the quantum of physical cash that is being used in the system in an attempt to cut down on cash handling expenses of banks. The policy was also targeted at getting more of the money in circulation […]
Fuel Scarcity: 14 Fuel Stations Sealed for Selling Above Approved Price
The Nigeria Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, has sealed 14 stations for dispensing fuel above the approved pump price in Kano. The NMDPRA Coordinator in the state, Aliyu Muhammad-Sama stated this during a monitoring and surveillance exercise on Thursday in Kano. He said the authority shut the stations for dispensing fuel at N295 […]