Currency Swap: Buhari Expresses Concern As Nigerians Queue in Banks, Finance Minister Reveals

EconomyMoneyNewsNigeriaCurrency Swap: Buhari Expresses Concern As Nigerians Queue in Banks, Finance Minister Reveals

By Uzoamaka Ikezue (Staff Reporter)February 2, 2023

Hajia Zaniab Ahmed, the Minister of Finance, Budget, and National Planning, has revealed that  President, Muhammadu Buhari is concerned about the pain Nigerians are going through in accessing the redesigned naira notes. Ahmed disclosed this on Thursday when she was featured at the 65th State House briefing organized by the Presidential Media Team and likened the current situation experienced by Nigerians to a patient having a wound or deep sore, but must submit to excruciating...

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Protest Hits Enugu As Residents Cry Against Cost Of Livelihood

EconomyLocal GovernmentNewsNigeriaProtest Hits Enugu As Residents Cry Against Cost Of Livelihood

Ije Ulasi (Regional Correspondent)February 2, 2023

Despite the billions of new naira notes purportedly printed by the Central Bank of Nigeria and the diverse channels the apex bank listed for the dispense of the naira, the transition to its usage is causing untold hardship to the masses. Long queues at banks and filling stations have become the new normal hence the outrageous hike in food items and other commodities. The pressure is too much and if not strategically arrested can lead...

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CBN deadline: Okada rider announces new mode of receiving payment

BusinessNewsNigeriaCBN deadline: Okada rider announces new mode of receiving payment

By Ezinwanne Onwuka (Senior Reporter)February 1, 2023

With eight days left for the old N200, N500, and N1000 notes to cease to be legal tender, a commercial motorcyclist has notified the public that he would no longer accept the old notes in a funny way. In a video shared by Instablog, the okada rider was captured with a paper glued to his T-Shirt, which contains information about his new method of receiving payment for his services. “New notes or transfer”, the inscription...

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CBN Advises Nigerians To Deposit Their Ola Naira Notes In Banks

BusinessMoneyNewsNigeriaCBN Advises Nigerians To Deposit Their Ola Naira Notes In Banks

Hassan Umar Shallpella (Regional Correspondent)February 1, 2023

The Central Bank of Nigeria, CBN has appealed to Nigerians to take advantage of the ten days extension for the old two hundred, five and one thousand naira to cease as legal tender and deposit in their Bank accounts old naira notes in their possession before the expiration of the deadline. The Apex Bank made the plea through the Director of Internal Audit of the Bank, Mrs. Alpha Lydia Ifeanyi Chukwu while addressing market men and...

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Buhari approves CBN’s request to extend the deadline for swapping old Naira notes

BusinessMoneyNewsNigeriaBuhari approves CBN’s request to extend the deadline for swapping old Naira notes

By Ezinwanne Onwuka (Senior Reporter)January 30, 2023

President Muhammadu Buhari has approved a request by the Central Bank of Nigeria (CBN) to extend the deadline for the use of the old N200, N500, and N1000 notes by ten days. Godwin Emefiele, the CBN governor announced the approval in a statement on Sunday after a meeting with the president in his country home in Daura, Katsina State. “Based on the foregoing, we have sought and obtained Mr President’s approval for the following: A...

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Commercial banks to work on Saturday, Sunday to beat CBN’s 31 Jan. deadline

MoneyNewsNigeriaCommercial banks to work on Saturday, Sunday to beat CBN’s 31 Jan. deadline

By Ezinwanne Onwuka (Senior Reporter)January 28, 2023

Ahead of the 31 January deadline set by the Central Bank of Nigeria (CBN), commercial banks will be open this weekend for Nigerians to deposit the old series of N200, N500 and N1000 notes. The commercial banks include First Bank of Nigeria, United Bank for Africa (UBA) Access bank, Guaranty Trust Bank (GTB), and First City Monument Bank (FCMB). 𝐎𝐩𝐞𝐧 𝐟𝐨𝐫 𝐲𝐨𝐮 𝐭𝐡𝐢𝐬 𝐰𝐞𝐞𝐤𝐞𝐧𝐝 🏦 Beat the Old Naira Series (𝟐𝟎𝟎, 𝟓𝟎𝟎 & 𝟏𝟎𝟎𝟎) deposit...

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Family rejects old naira notes as bride price in Niger

MoneyNewsNigeriaFamily rejects old naira notes as bride price in Niger

By Ezinwanne Onwuka (Senior Reporter)January 26, 2023

The fear of CBN’s 31 January deadline for old naira notes has led a family of a young woman in Gbako LGA of Niger State to reject the old N1000 and N500 notes given by their would-be in-laws as bride price. According to reports, the family of the suitor took an undisclosed amount to the family of the woman as bride price and money for other stuff in preparation for the wedding. But the family...

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President Buhari Commission Largest Sea Port In Africa

BusinessEconomyNewsNigeriaTransportationPresident Buhari Commission Largest Sea Port In Africa

Hassan Umar Shallpella (Regional Correspondent)January 25, 2023

The Lekki Deep Sea Port, Nigeria’s deepest sea port situated within the Lekki Free Zone in Lagos and currently the largest in Africa, was inaugurated by President Muhammadu Buhari on Monday. The President who arrived at the venue in a helicopter alongside the Governor of the State, Mr. Babajide Sanwo-Olu cut the ceremonial tape at the Port at 4:42 pm The Managing Director of the Nigerian Ports Authority, NPA, Mr. Mohammed Bello-Koko said the agency...

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CBN/NOA Allays Traders’ Fear, Reveals Security Features And Benefits Of New Naira.

BusinessMoneyNewsNigeriaCBN/NOA Allays Traders’ Fear, Reveals Security Features And Benefits Of New Naira.

Ije Ulasi (Regional Correspondent)January 25, 2023

The Central Bank of Nigeria has revealed that redesigning the top three denominations of the naira notes was not targeted at any group but a step taken in the interest of the nation and her people as it will strengthen the economy. The Deputy Director of Human Resources, CBN Mr. Chris Eze stated this at a sensitization of stakeholders on the currency redesign held on Saturday at the Main Market, Ogbete Enugu. “The new naira...

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CBN Accuse Commercial Banks Of Hoarding N4.5 billion Redesigned Naira Notes

MoneyNewsNigeriaCBN Accuse Commercial Banks Of Hoarding N4.5 billion Redesigned Naira Notes

Hassan Umar Shallpella (Regional Correspondent)January 22, 2023

Some commercial banks in Port Harcourt, Rivers State have been accused of refusing to dispense the sum of N4.5 billion redesigned notes distributed to them by the Central Bank of Nigeria (CBN). CBN branch Controller in Rivers State, Maxwell Okafor, who led an enforcement team on the newly redesigned notes to some commercial banks and markets in Port Harcourt, said that between Thursday and Friday, the apex bank had disbursed about N4.5b new notes to...

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