The Central Bank of Nigeria, CBN has confirmed the evacuation of banknotes from its vaults to commercial banks across the country as part of a coordinated effort to ease the circulation of banknotes of various denominations. The CBN has also directed all commercial banks to open for operation on Saturdays …
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The Central Bank of Nigeria, CBN, is set to release all N1,000, N500 and N200 notes in its custody to Deposit Money Banks. A source at the CBN disclosed this to the us on Wednesday. According to him, the apex bank has concluded plans to disburse old notes to Deposit …
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As the controversy associated with the new naira notes rages on, Naija News brings you the latest update on the controversial policy of the Central Bank of Nigeria (CBN). Naira Notes: CBN Governor, Emefiele Insists On Cashless Policy. The Central Bank of Nigeria (CBN) governor, Godwin Emefiele has hinted that …
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The Poultry Farmers Association of Nigeria, PFAN, said its members had lost more than N30 billion eggs due to the lingering cash scarcity of the Central Bank of Nigeria’s cashless policy. In a statement on Friday, Sunday Onallo-Akpa, National president of PFAN, decried the economic loss being experienced by egg …
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The Abuja Chamber of Commerce and Industry, ACCI, has said that increasing the pump price of Premium Motor Spirit, PMS, popularly known as petrol, would not tame Nigeria’s rising inflation rate. Al-Mujtaba Abubakar, the president of ACCI, made this disclosure on Thursday in Abuja. He said selling fuel at the …
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Nigeria’s rising inflation rate has raised concerns among economic stakeholders and citizens at large. The country has witnessed its twelfth inflation increase in recent times. It is worth noting that the December inflation rate represented Nigeria’s first drop in 2022. The figure dropped from 21.47 per cent in November to …
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The National Bureau of Statistics, NBS, said the country’s headline inflation rate rose to 21.91 per cent in February 2023 compared to 21.82 last month, indicating an increase of 0.09 per cent. The bureau disclosed this on Wednesday in its report titled ‘Consumer Price Index (February 2023).’ The report comes …
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There were sighs of relief on Tuesday over the return of the old N500 and N1000 notes to markets in the Federal Capital Territory, Abuja, and some other parts of the country. The development was sequel to the directive issued on Monday by the Central Bank of Nigeria, asking Deposit Money Banks …
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The Director of the Centre for the Promotion Of Private Enterprise, CPPE, Dr Muda Yusuf, said Nigeria’s economy had lost an estimated N20 trillion to the Naira crisis. In a statement on Sunday, CPPE called on President Muhammadu Buhari and the Governor of the Central Bank of Nigeria, Godwin Emefiele, …
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TAX is a compulsory contribution to state revenue levied by the government on workers’ income and business profits, or added to the cost of some goods, services, and transactions. But for the sake of clarity, this piece will be focusing on tax as citizen’s obligation or contribution towards national development. …
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