Beyond Headlines… More News
Nigeria Employers’ Consultative Association, NECA, has warned that the ripple effects of the cash swap policy would linger and would take a long time for businesses, especially the informal sector, to recover as many of them have closed due to low purchasing power of consumers. NECA in a statement yesterday in Lagos, however, commended the […]
Continue Reading
The Emir of Kano, Alhaji Aminu Ado Bayero, has cautioned the Central Bank of Nigeria and commercial banks to follow the cashless policy steadily in step-by-step for the people in the country to embrace and familiarize with the new change. The monarch made the call on Tuesday when a team of the Bankers Committee of […]
Continue ReadingWhile the three-month cash shortage rocks Nigeria’s economy and Nigerians, banks that are at the centre of it all may emerge unscathed as almost all their income lines appeared unaffected. Financial experts have been focusing on the likely impacts of the Naira banknote crises on the financial performance of banks as they round up their […]
Continue Reading
The Supreme Court, on Friday, nullified the ban on the use of the old N200, N500 and N1000 banknotes as valid legal tenders by the Federal Government. The apex court, in a unanimous decision by a seven-member panel of Justices, held that the old banknotes should remain in use until December 31. It held that […]
Continue Reading
Stakeholders in the energy sector have expressed divergent views on the Supreme Court judgment over the extension of the use of old Naira notes till Dec. 31. They expressed their different views in separate interviews with the News Agency of Nigeria (NAN) on Saturday in Lagos. NAN reports that the Supreme Court on Friday ordered […]
Continue Reading
Governor Nasir El-Rufai of Kaduna state said no incoming President or Governor of Central Bank of Nigeria (CBN) can upturn the current ruling of the Supreme Court on the old naira notes. El-Rufai stated this while speaking with news men after the judgement of the apex court on the old naira note on Friday. He […]
Continue Reading
The Supreme Court, on Wednesday, said it would not allow the Federal and states governments turn the Judiciary to a scapegoat in the legal dispute that is currently trailing the ban on use of the N200, N500 and N1,000 old banknotes as valid legal tenders. Justice Inyang Okoro, who is heading a seven-man panel of […]
Continue Reading
Despite the adoption of cashless payment systems across different segments of the country, the Nigerian Railway Corporation has insisted on cash payment for its transactions, especially for fares along its Lagos-Ibadan route. While other businesses are exploring the Point of Sale and online banking services, it was observed that officials of the NRC were not […]
Continue Reading
Following concerns that the Naira redesign policy of the Central Bank of Nigeria CBN and its attendant currency scarcity was meant to limit the electoral chances of the All Progressives Congress APC Presidential Candidate, Asiwaju Bola Tinubu, his wife, Senator Oluremi has said the presidential campaign is on course in spite of the disruptive implementation […]
Continue Reading
Presidential candidate of the African Democratic Congress, ADC, Dumebi Kachikwu, has said that the current Naira redesign was ill-timed and an alleged plot to attack the All Progressives Congress presidential candidate, Bola Ahmed Tinubu. Addressing newsmen in Abuja, Kachikwu warned the federal government against bringing Nigeria to a ‘state of anarchy’ in their alleged pursuit […]
Continue Reading