We are not introducing N5000 note || CBN
The Central Bank of Nigeria (CBN) says it has no plan to introduce N5,000 denominated banknote as being speculated by some sections of the society. Ahmed Umar, the Director, Currency Operations of CBN clarified this at a three-day workshop organised by the Nigeria Deposit Insurance Corporation (NDIC), for members of the Financial Correspondents Association of […]
EDITORIAL: Fuel Scarcity Hits Ibadan, Motorists and Residents Laments
….Long Queue in the few filling station that have fuel even with high selling price According to Egalitarian VoiceNews findings, the ongoing fuel crisis in Ibadan has a greater impact on drivers and commuters as the product shortage gets worse. Independent marketers are making more money from customers than major marketers, according to our correspondent […]
8 Ways To Make Your Cooking Gas Last Longer
With the current price of cooking gas at about 850 naira per kilogramme, this rising cost has necessitated the need for us to become more conservative about how we use our cooking gas. Gas cookers make cooking quick and easy, but burning too much gas can come back to bite you when it comes […]
Amid Fiscal Risks, FG Borrows N24tn From CBN
The Federal Government has borrowed N6.31tn from the Central Bank of Nigeria through Ways and Means Advances in 10 months. This has pushed the Federal Government’s borrowing from the CBN from N17.46tn in December 2021 to N23.77tn in October 2022. The N23.77tn owed the apex bank by the Federal Government is not part of the […]
Marketers warn of possible increase in petrol price
Oil marketers, on Thursday, issued a stern warning to the public, asking them to expect to buy petrol at ‘any price’. Marketers, under the aegis of the Independent Petroleum Marketers Association of Nigeria, told The PUNCH that the Nigerian National Petroleum Company Limited refused to give its members products, and that they bought at N205 […]
Excess Crude Account falls by 89% to $472,513
Nigeria’s excess crude account has declined by 89 per cent in the last eight years, moving from $4.1bn in November 2014 to $472,513 in the same period of 2022. According to a statement by the Ministry of Finance, Budget and National Planning, which was seen by The PUNCH on Wednesday, the ECA’s balance as at […]
Inflation: We’ll reduce the volume of N500, N1000 in circulation |CBN
The Central Bank of Nigeria (CBN) says it is planning to reduce the volume of higher denominations — N500 and N1000 — in circulation to tame inflation. Godwin Emefiele, governor of CBN, said this on Tuesday while fielding questions from journalists at the monetary policy committee (MPC) meeting in Abuja. Emefiele said increasing the high […]
JUST IN: FG Unveils Redesigned Naira Notes (PHOTOS)
President Muhammadu Buhari has unveiled the re-designed Naira Notes. Recall that this medium had yesterday reported that Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele had on Tuesday said the president will unveil the newly designed N1,000, N500 and N200 notes. The unveiling today, marks the first time in 19 years, Nigeria will […]
Buhari To Unveil New Naira Notes On Wednesday – Emefiele
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele on Tuesday said President Muhammadu Buhari will unveil newly designed N1,000, N500 and N200 notes on Wednesday, November 23, 2022. Emefiele made this known during the apex bank’s Monetary Policy Committee monthly meeting in Abuja. According to him, the CBN won’t shift its deadline […]
Petrol, electricity subsidies constitutes to Nigerians poverty– World Bank
World Bank has said that subsidies benefit only rich households and reduce government spending on poor Nigerians. This was contained in a statement on the bank’s website announcing the launch of the new Nigeria Public Finance Review report. According to the bank, Nigeria’s resources had been consumed by inefficient and regressive subsidiaries on petrol, electricity […]