Naira scarcityprotesters vandalise 17 commercial banks, destroy N5billion property
Commercial Banks have lost facilities estimated to be around N5billion across the country, following the recent attacks and destruction of bank assets over naira notes scarcity. It was learnt that at least 17 bank branches had been attacked so far by protesters. The Association of Senior Staff of Banks, Insurance and Financial Institutions President, Oluwole […]
Air Peace launches Flight to Mumbai, India by March 31
Air Peace, the leading Nigerian airline, will launch regular flights to Mumbai, India On March 31. Travel agents and the airline had a meeting yesterday to finalize necessary agreements. The meeting tagged, “Travel Agents Forum for Mumbai and Upcoming Routes,” was attended by the airline’s travel agents and partners and was an opportunity for engagement […]
Millions of Nigerians lament as MTN network suffers outage
Some customers of mobile network operator, MTN, are currently experiencing service outages across Nigeria. It was learnt that the customers were unable to use the mobile network operator’s call, data and SMS services. The outage started on Tuesday evening. The South African-owned MTN is the largest telecoms provider in Nigeria, which provides the company its […]
Breaking: Supreme Court Temporarily Halts Banning of Old Naira Notes
Following the suit filed by Kaduna, Kogi and Zamfara states against the FG on the implementation of the redesigned naira notes, the Supreme Court has given an order for the FG to temporarily suspend the plan to stop the use of the old naira notes from February 10, 2023. A seven-member panel led by Justice […]
FIRS and LASG have an agreement to establish a combined tax audit system
The Federal Inland Revenue Service and the Lagos State Government on Monday signed a Memorandum of Understanding to create a joint tax audit system. Lagos State Governor, Babajide Sanwo-Olu noted that the plan is to address duplication of measures and enable the exchange of data that are relevant to the enforcement of extant tax laws.Sanwo-Olu […]
ICPC arrests woman selling new Naira notes on social media
Nigeria’s anti-corruption commission, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it has arrested a woman identified as Omoseyin Oluwadarasimi Esther offering new naira notes for sale on social media. The anti-corruption commission in a statement issued on Wednesday via its official Twitter handle said the suspect was arrested on Wednesday, February […]
Naira redesigned to punish those with illicit funds —Buhari
The redesigned Naira notes, according to President Muhammadu Buhari, are intended for people in possession of criminal funds rather than regular Nigerians. According to a statement from his Senior Special Assistant on Media and Publicity, Garba Shehu, the president was responding to difficulties Nigerians were encountering in their attempts to meet the deadline of January […]
N65 million lost as NPA shuts Lagos port over President Buhari’s visit
An estimated N65 million was lost as cargoes got trapped at the Lagos port following the total closure of the facility and restriction of access to port users by Nigerian Ports Authority’s (NPA) President Muhammadu Buhari’s visit.The NPA began a strict access control into the PTML area of the Tin Can Island Port, since last […]
Protests As CBN Begins Cash Withdrawal Limit Enforcement
Over 20 banks on Monday began the implementation of the Central Bank of Nigeria’s new cash withdrawal limit policy across the country with bank customers expressing anger over the new rule. The Governor of the CBN, Godwin Emefiele, had on December 21, 2022, bowed to pressure and revised the bank’s earlier cash withdrawal limits.The CBN […]
Expert say 2023 polls could place Nigeria’s economy in stagnation
An expert has warned that the 2023 general elections could plunge Nigeria’s economy into stagnation. A financial inclusion/wealth management expert, Mr Idakolo Gbolade, who spoke with DAILY POST on Monday, said if the government continues in this current trajectory, the nation’s economic woes will not recede, especially with the forthcoming election and change of government. […]