Wed, Mar

Naira Redesign: Old Notes Will Still Be Accepted After Deadline - CBN

Central Bank of Nigeria (CBN) Governor, Godwin Emefiele has assured Nigerians that Old notes will still be accepted by Commercial banks even after the February 10 deadline extension date for swapping. Emefiele gave this assurance on Tuesday 31st Jan 2022 while appearing before the House of Representatives ad hoc committee.

Kano State: President Buhari Commissions Tier-Four Data Centre, Others

President Muhammadu Buhari was in Kano State on Monday for a one-day official visit to commission several projects such as a national tier-4 Data Centre, a 10-megawatt solar power project, Dala Inland Dry Port, amongst other projects. According to reports, the tier-4 Data Centre which was executed by Galaxy Backbone Limited is the first of its kind in northern Nigeria with a 41 terabytes memory capacity and 2.2-petabyte storage capacity which is expected to provide more storage facilities for private and public sectors of the country.

CBN Raises Benchmark Interest Rate To 17.5%

In a bid to contain inflation in the country, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) raised its benchmark interest rate to 17.5 percent which was disclosed on Tuesday by the CBN Governor, Godwin Emefiele after the Committee’s first meeting of the year at the CBN Headquarters, Abuja.

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

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.

Revenue Collection: FIRS Generates Over N10 Trillion

The Federal Inland Revenue Services (FIRS), on Monday, disclosed a sum of over N10 trillion was collected in tax revenue in 2022, making it the highest tax collection in the history of the organization.

Abuja-Kaduna Train Derails

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.

New Naira Note: CBN, NASS Disagree On Implementation Date

The Central Bank of Nigeria (CBN) has on Tuesday stated that there is no going back on the January 31st deadline on the phase-out of old naira notes hours after the Senate pleaded for a 6 months extension. CBN Governor, Godwin Emefiele, who spoke at the apex bank’s Monetary Policy Committee meeting in Abuja, stated that Nigerians were given enough time to replace their old notes with new ones.

CSOs Threaten Mass Protest Over Persistent Fuel Scarcity

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.

President Buhari Commissions Lekki Deep Seaport, Others

President Muhammadu Buhari arrived Lagos State on Monday afternoon for a two-day official visit to commission the Lekki Deep Seaport, Lagos Rice Mill, Imota, and other projects. The President was received at the Presidential Wing of the Lagos Airport by Lagos State governor, Babajide Sanwo-Olu; other state governors, amongst other dignitaries.

UK Set To Reduce Tariffs On Nigerian Exports -British Envoy

The government of the United Kingdom (UK) has announced that it is set to reduce tariffs on duty-free trade in goods exported from Nigeria with effect from April 2023 which was made known in Lagos by the Deputy British High Commissioner to Nigeria, Mr. Ben Llewellyn-Jones during the launch of the Developing Countries Trading Scheme (DCTS) which is an enhanced trade scheme created by the UK government meant to reduce tariffs on selected goods.

Flights Grounded As NAHCO Begins Strike

Flights across local and International airports in Nigeria were shut down as Nigerian Aviation Handling Company Plc (NAHCO) embarked on strike on 23rd January 2023 over an increment in salary. It was gathered that passengers were seen stranded outside at the Murtala Muhammed Airport Terminal Two (MMA2) Lagos and the Murtala Muhammed Airport (MMIA) over delayed flights or rescheduled flights. Alex Nwuba, one of the affected passengers stated that NAHCO staff in the early hours of Monday walked out of the international airport, saying they were on strike and will not handle any passengers. “Even the Qatar flight I’m traveling with this morning landed and has returned to Doha as there’s none to handle them,” Nwuba said. He said passengers are frustrated as they have been kept outside to avoid a crisis and no information, announcements, or emails was sent to passengers.

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