9PSB Promotes Financial Inclusion Among Youths
9 Payment Service Bank (9PSB), a digital payment institution, has expanded its financial literacy program to secondary schools in Lagos, Kano, and Abuja to encourage financial inclusion and close the wealth gap among the nation’s youth. In recognition of Financial Literacy Day, the bank ran a mentoring program concurrently at three distinct sites: Ajao Estate […]
Fuel Consumption Hits 80million Litres Daily, Subsidy Skyrockets
According to the most recent numbers provided by the Nigerian National Petroleum Corporation Limited, the usage of Premium Motor Spirit, often known as Petrol, has increased to nearly 80 million liters per day, increasing the subsidy on the commodity to an estimated N484 billion each month. An analysis of PMS weekly evacuation/dispatch data from March […]
Nigeria’s inflation rate under Buhari rises to 21.9% amid naira scarcity
The National Bureau of Statistics (NBS) report has shown that Nigeria’s headline inflation rate rose to 21.91% in February 2023 from 21.82% recorded in January of the same year. The NBS report obtained from its website showed that looking at the trend, the February 2023 inflation rate showed an increase of 0.09% points when compared […]
Governors Give Malami, Emefiele Ultimatum to Follow Supreme Court Order
The Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, and the Governor of the Central Bank of Nigeria, Godwin Emefiele, have been given until Tuesday to abide by the Supreme Court’s ruling on the naira redesign policy after the State Governments sued the Federal Government over the policy. The state governments threatened […]
Cash Shortage Affects Rural Residents Standard of Living
GUSTO & Co has said that the cash constraint that emanated from the naira redesign policy of the Central Bank of Nigeria will affect the living standard of rural dwellers. It said this in a report titled ‘Redesign gone wrong? – costly cashless’. It stated, “The cash constraint is also likely to compel consumers to […]
Under 100-for-100 Policy, CBN Disburses N114 Billion
Since the start of the intervention, the Central Bank of Nigeria has given beneficiaries under its 100-for-100 Policy on Production and Productivity a total of N114.17 billion. This information was provided in a statement released by CBN Governor Godwin Emefiele following the most recent meeting of the Monetary Policy Committee in Abuja. He stated that […]
Naira scarcity: Nigerian bankers ask members to stay at home over attacks
The Association of Senior Staff of Banks, Insurance and Financial Institutions, ASSBIFI, on Friday directed members to stay away from work over persistent attacks on banks and financial institutions nationwide due to naira notes scarcity. This was contained in a statement released by the group’s National President, Olusoji Oluwole, stating that the reason for the […]
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 […]