The Central Bank of Nigeria (CBN) has been urged by the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI), to make clarifications on the deposit of old naira notes. Olusoji Oluwole, president, ASSBIFI, made the call in an interview with NAN on Sunday. The apex bank had said it designated commercial banks…
The Lagos Chamber of Commerce and Industry and an economist have issued a new warning about possible increase in poverty. They warned that the recent rise in the general price level has weakened purchasing power. Earlier, the National Bureau of Statistics, NBS, disclosed that January inflation jumped to 21.82 per cent from 21.34 per cent…
15 suspects have been arrested by the police over attacks on some commercial banks in Oron Local Government Area of Akwa Ibom state. The state Police Public Relations Officer, Mr. Odiko MacDon, who confirmed the arrest, said the police will do everything to ensure that Akwa Ibom remains one of the most peaceful states…
Nasir El-Rufai, the Governor of Kaduna State, has made a new claim about the new naira redesign. He claimed that what was approved by President Muhammadu Buhari was different from what the Central Bank of Nigeria, CBN, did regarding the redesigning and swapping of the currency. The Governor, who has vehemently kicked against the new…
Once again, serious protest has take over Ogun State over the naira scarcity. Videos online show two banks set on fire in the Sagamu area of the state. The videos shared on Monday showed many residents watching as Keystone and Union banks were set ablaze with some youths holding planks in protest. On Friday last…
Due to the scarcity of the Naira notes, some commercial s3x workers in the Federal Capital Territory (FCT), have lamented about low patronage in their business. Some of them who spoke to the News Agency of Nigeria (NAN) in Abuja on Sunday, said the scarcity of the notes was a threat and had crippled their…
The Economic and Financial Crimes Commission, EFCC, has denied raiding the home of the All Progressives Congress, APC, presidential candidate, Bola Tinubu. In a statement on Sunday, Wilson Uwujaren, the Commission’s Spokesperson, debunked the report. The Commission advised Nigerians to disregard reports making the rounds on social media, describing them as fake news. It clarified…
A civil society organization, Journalists for Open Government and Inclusion, has called on the Federal Government to act responsibly and urgently to prevent the anger over naira scarcity from snowballing into uncontrollable civil unrest. JOGI Executive Director, Yaqoub Popoola, advised the President, Major General Muhammadu Buhari (retd), to act as a true statesman and obey…
A lawsuit has been instituted by the Socio-Economic Rights and Accountability Project against President Muhammadu Buhari over “the unlawful directive banning the use of old N500 and N1,000 banknotes, contrary to the interim injunction granted by the Supreme Court that the old N200, N500, and N1000 notes remain legal tender.” Joined in the suit as…
Three police officers have been confirmed dead after hoodlums attacked the Anambra State Police Command in Ogidi, Idemili North Local Government Area, in the early hours of Saturday, February 18. According to residents of the area, the hoodlums, who came in large numbers, stormed the police station, began shooting sporadically. and even threw explosive devices…