As early as 6 am on Wednesday, Nigerians have thronged various commercial banks in Delta State in search of Naira notes. The situation has remained the same for weeks now, with customers left to their fate. Newsextra24 correspondent, who visited some of the banks, was threatened by a policeman on …
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The Theatre Commander, North East Joint Task Force, Operation Hadin Kai, OPHK, Maj-Gen Ibrahim Ali, has said terrorists have been exposed to hardship due to the naira scarcity. Ali said the Naira swap and cashless policy of the Central Bank of Nigeria, CBN, mitigated violent extremism in the North East. …
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Some residents of Ore in Odigbo Local Government Area of Ondo State on Friday blocked the busy Ore-Benin expressway to register their displeasure over the scarcity of naira notes. The News Agency of Nigeria (NAN) reports that the protesters made bonfires on both sides of the expressway, making it impossible …
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President Muhammadu Buhari, on Thursday, approved the restoration of the old N200 notes as legal tender. Buhari, who spoke on many issues, empathised with Nigerians on the difficulties they are experiencing as a result of the ongoing cash crunch – a fallout of the Naira redesign policy. Buhari also said …
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Nigerians have continued to experience scarcity of the naira notes since the January 31 deadline issued by the Central Bank of Nigeria, CBN, on the swap of the currency. The CBN had earlier set a January 31 deadline for the use of the old naira notes. It was later extended …
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As the naira scarcity lingers with its attendant effect on Nigerians, financial experts have warned that the country may slip into a cash-induced recession. For many Nigerians, the currency scarcity hardship has become a nightmare without an end. Accessing cash is now a miracle everyone desires. Some commercial banks’ Automated …
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The Central Bank of Nigeria, CBN, has attributed the scarcity of the new naira to the hoarding of the notes by Nigerians. CBN’s Director of Consumer Protection, Mrs Rashidat Mongunu, said this on Thursday while monitoring microfinance banks in Offa, Offa Local Government Area of Kwara. The monitoring team, as …
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