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 […]
National Assembly orders CBN to increase ATM withdrawal limits for Nigerians
The House of Representatives has directed the Central Bank of Nigeria Governor, Godwin Emefiele, to henceforth submit a weekly report on the apex bank’s release of the new naira notes to commercial banks across the country. The House while giving the directive on Tuesday when the CBN governor appeared before its ad-hoc committee on the […]
Naira redesign: Nigerians suffering, economy in danger, Lagos Assembly says, commends NASS
The Naira redesign policy of the Central Bank of Nigeria (CBN) has brought mass suffering on the citizens of the country while the economy is in danger, the Lagos State House of Assembly has lamented. The lawmakers further noted that even though the policy was a good one, its timing was wrong as it had […]
DSS catches members of organized syndicates selling new Naira notes
The Department of State Services has intercepted some members of an organized syndicate peddling the new Naira notes in various parts of the country (DSS). The DSS asserted in a statement on Monday that numerous commercial bank workers were involved in the crime despite withholding the suspects’ identities and locations. Dr. Peter Afunanya, the DSS’s […]