CBN Says It Has Not Devalued The Naira
The Central Bank of Nigeria (CBN) has debunked a report by a national daily that it has devalued the naira to N631 per dollar at the Importers and Exporters’ (I&E)…
Naira Crunch Eases As Banks, ATMs Dispense Cash This Weekend
After several weeks of hardship occasioned by the naira scarcity, some semblance of sanity this weekend began to return to the banking halls and ATM points as customers were able…
CBN Bows to Pressure, Says Old Notes Legal Tender
The Central Bank of Nigeria, CBN, Governor, Godwin Emefiele, on Monday bowed to pressure and officially ordered commercial banks to comply with the court verdict. This comes exactly 10 days…
Naira Crisis: NLC Issues 7-Day Ultimatum to FG, CBN
The leadership of the Nigeria Labour Congress, NLC, has issued a seven-day ultimatum to the Federal Government to end the fuel scarcity and cash crunch in the country. Oyo News…
Old Naira Notes Remain Legal Tender- LASG
The Lagos State Government has asked businesses and residents of the state to accept the old naira notes as legal tender. The Governor Babajide Sanwo-Olu-led government also expressed worries…
Kogi Govt. Orders Arrest of Businesses Rejecting Old Naira Notes
The Kogi State Government on Friday ordered the arrest and prosecution of individuals and businesses rejecting the old naira notes. Oyo News reported last week that the apex court verdict…
Supreme Court Declares Old Notes Valid till December
The Supreme Court has nullified the ban on use of the old N200, N500 and N1000 banknotes as legal tenders, affirming that they remain valid legal tender till December 31,…
Buhari Urges Patience on Naira Redesign
As Nigerians continue to grapple with the hardship and crisis of naira scarcity President Muhammadu Buhari has appealed to exercise more patience. Senior Special Assistant to the President on media…
Banks Unprepared for Cashless Economy – NESG
The Nigerian Economic Summit Group (NESG) has said that the failure of Deposit Money Banks to meet the growing demand for cash implies that the banking system is unprepared for…
New Notes: 10 States Seek to Void Buhari’s Directive
Ten states have asked the supreme court to declare the new directive of President Muhammadu Buhari, reintroducing the old N200 notes and declaring old N500 and N1,000 notes as unconstitutional.…