Category: business news

CBN: Despite Supreme Court’s order naira scarcity persists

Nigerians are still struggling to obtain cash (old and new naira banknotes) days after the Supreme Court ordered the Central Bank of Nigeria to allow the old N200, N500 and…

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N2.9 billion stolen from Flutterwave accounts by Hackers

Based on documents reviewed by Techpoint Africa, an illegal transfer of ?2,949,557,867 has been made from the accounts of African fintech unicorn, Flutterwave. On February 19, 2023, Flutterwave’s legal representative, Albert…

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Tinubu extends olive branch, invites youths to rescue Nigeria

After a gruelling six-month presidential campaign that saw candidates traverse the length and breadth of Nigeria in search of votes, President-elect, Asiwaju Bola Tinubu, yesterday, called on his fellow contestants…

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Fuel hits N300/litre as marketers halt loading

Oil marketers, on Tuesday, said many depots had stopped loading Premium Motor Spirit, popularly called petrol, due to the apprehension caused by the collation of results of the general elections…

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FG identifies new fields for 681,000bpd oil production

The Federal Government has identified new oil fields capable of delivering about 681,000 barrels of crude oil per day and 1.52 billion standard cubic feet of gas daily. It disclosed this…

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Naira Scarcity: Learning from Governor Obaseki’s Crises Management Approach 

As the Naira scarcity persists and throws citizens into more anguish, the Edo State Governor, Godwin Obaseki's approach of marching into the streets, inspecting the goings-on, and mobilising the POS operators in the…

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Naira Scarcity: Why Presidency Should Move Against CBN — MURIC

The Muslim Rights Concern (MURIC) has stated why President Muhammadu Buhari ought to go against the Central Bank of Nigeria (CBN) amid the hardship brought about by the cash scarcity. In a…

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Old Naira Notes Remain Legal Tender —Jigawa Government

The Jigawa State Government has said the old naira notes remain legal tender in the state pending the judgement of the Supreme Court. Ibrahim Mamsa, the state Commissioner for Information,…

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Shortage Of Printing Materials Not Cause Of Cash Scarcity, Says CBN

The Central Bank of Nigeria (CBN) has denied claims that the scarcity of the newly redesigned Naira notes is caused by a shortage of printing materials. Some news outlets had previously…

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Supreme Court Halts FG’s Plan to Implement Old Naira Deadline

The Supreme Court has issued an order of interim injunction restraining the Federal Government and the Central Bank of Nigeria (CBN) from enforcing the  February 10 deadline for the phasing out of…

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