Activities in Nigeria’s financial markets (equities and money markets) opened with bearish sentiments in the first trading day of the second quarter (Q2), setting up a poor growth outlook which financial analysts have predicted may likely turn out worse than…
The Naira appreciated against the dollar on Wednesday, exchanging N461.24 at the investors’ and exporters’ window. The rate represented an increase of 0.11 per cent when compared to the N461.75 for which it exchanged to the dollar on Tuesday. The…
The House of Representatives has urged the Central Bank of Nigeria (CBN) to direct commercial banks to overhaul the existing online/electronic banking platforms for efficient conduct of electronic banking operations. This is sequel to a unanimous adoption of a motion…
Reliable sources in the CBN said banks have been instructed to collect the old Naira noted they deposited in CBN and that before the end of the week, the country would be awash with Naira notes
Some financial experts have urged the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to take urgent steps to address the perennial shortage of cash. The experts spoke to journalists on Monday in Abuja, against the backdrop…
The use of the old naira notes is gradually returning in Cross River, following the Central Bank of Nigeria’s (CBN) directive to deposit banks to issue and receive the old notes. It would be recalled that on Friday, the Supreme…
Last year, the Central Bank of Nigeria (CBN), through its Governor, Godwin Emefiele, announced the redesigning of the naira. The Governor, however, gave an initial deadline of January 31st 2023 for the phase out of the old note. The deadline…
A financial inclusion/wealth management expert, CEO of SD&D Capital Management Limited, Mr Idakolo Gabriel Gbolade, said the Naira crisis should not have reached an unbearable height before the government’s intervention. Idakolo disclosed this on Monday as reactions continued to trail…
Cashless transactions fell to N37.67trillion in February 2023 as Nigerians had to grapple with failed and delayed cash transfers. This was a 4.83 per cent fall from the N39.58 trillion that was recorded in January according to new data from…
Church tithes and offerings have continued to diminish following the scarcity of new notes and the inability to transfer money from banks due to network problem. Some churches in Kaduna have seen tithes and offering figures drop as members lament…
