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AfriGo: CBN Launches National Domestic Card

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In its bid to enhance electronic payment in the country and address the challenges associated with foreign exchange usage, the Central Bank of Nigeria (CBN) on Thursday launched the Nigerian National Domestic Card, AfriGo. Speaking virtually during the launch, the CBN governor, Godwin Emefiele said the card would reduce operating cost and charges.

Experts Conflicted Over Interest Rate Hike Ahead Of MPC Meeting

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Just as the management of the Central Bank of Nigeria, CBN, is set to host a two-day Monetary Policy Committee, MPC, a meeting penciled to hold today, financial experts are at loggerheads over the threat posed by the uncertainties that may result from the interest hike. As part of its annual rituals for the apex bank, it has slated today for its 289th Annual General Meeting for the year 2023 in Abuja, Federal Capital Territory, FCT, to discuss the way forward.

Naira Re-Design: CBN Launches Cash Swap Across LGAs

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As part of efforts to facilitate the circulation of its new naira notes, the Central Central Bank of Nigeria (CBN) has launched a cash swap programme across Local Government Areas in Nigeria. The apex bank said the new cash swap programme takes effect from Monday, January 23, 2022. The bank said the old N1000, N500, N200 notes can be exchanged for the newly redesigned notes and the existing lower denominations (N100, N50 and N20, etc) which remain legal tender.

Naira Redesign: CBN Deploys Agents Across Nation, Urges Banks To Release Notes

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The Central Bank of Nigeria (CBN) has engaged its agents to fast-track its cash swap policy in states across the nation and has ordered Deposit Money Banks (DMBs) to release the new naira notes to customers including the Point of Sale (POS) operators. The Apex embarked on a sensitization program on Monday 23rd January 2022, to enlighten those in the rural communities on the currency swap programme as part of plans to phase out old naira notes and enhance the collection of new notes.

Abuja-Kaduna Train Derails

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An Abuja-Kaduna Train reportedly derailed at around 3:20 pm on Friday in the Kubwa Area of the Federal Capital Territory (FCT), just a few minutes away from its destination, Kubwa train station. An anonymous source at the Nigerian Railway Corporation (NRC) confirmed the incident and said the cause is still unknown, adding that train services along that route have been suspended until the issue is resolved.

CSOs Threaten Mass Protest Over Persistent Fuel Scarcity

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A coalition of Civil Society Organisations operating under the aegis of Civil Society Coalition for Economic Well-being and Good Governance, on Thursday issued a 78-hour ultimatum to President Muhammadu Buhari to end fuel scarcity or face mass protest. This was contained in a communique issued by the Coalition after a one-day meeting on Wednesday and made available to journalists on Thursday in Abuja. The communique signed by Mr. Garba Danzi, Chairman; Ayodele Hughes, Sec­retary-General and two other ex­ecutives lamented the challenges faced by Nigerians over protracted fuel scarcity across the 36 states of the country and the Federal Capital Territory.

We Will No Longer Tolerate Strike By Aviation Workers-Minister of Aviation

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The Minister of Aviation, Hadi Sirika said on Wednesday that the government will no longer tolerate strikes and riots around all airports across the country because it is against the law, adding that Civil Aviation Act (2022) prevented aviation workers from embarking on strike actions.

FG Sets Up 14-Man Committee To End Fuel Scarcity

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President Muhammadu Buhari on Tuesday approved the constitution of a 14-man steering committee to enforce petroleum products supply and compliance with official prices.The committee will be chaired by the President, with the Minister of State for Petroleum Resources, Timipre Sylva, asting as the alternate chairman. Other members of the committee are the minister of finance, budget and national planning; permanent secretary, ministry of petroleum resources; national economic adviser to the president; director-general, Department of State Services (DSS); comptroller-general, Nigeria Custom Service (NCS); the chairman, Economic and Financial Crimes Commission (EFCC) and the commandant-general, Nigerian Security and Civil Defence Corps (NSCDC).

Kyari: NNPC Will Fund Road Projects With Additional N1tn

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Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited disclosed on Thursday that the company will provide an additional N1 trillion to fund road projects. He made this known in a video clip circulated online during his official tour of the ongoing construction of the Agbara-Badagry road project, which is part of the 21 federal roads being funded by the NNPC.

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