Category: Economy
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Nigeria’s inflation rate hits 21.82%
The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate increased to 21.82 per cent on a year-on-year basis in January 2023.
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![[Just In] Scarcity of naira: Benin City boils as angry customers set 2 banks on fire](https://thenewsguru.ng/wp-content/uploads/2023/01/Reps-v-CBN.jpeg)
[Just In] Scarcity of naira: Benin City boils as angry customers set 2 banks on fire
Protesters in Benin City the capital of Edo State have set two commercial banks on fire to register their anger of scarcity of naira. TheNewsGuru.com, (TNG) reports the protesters hinged their actions on hardship caused by none availability of new notes in the state. The angry customers who pleaded with the Central Bank and the…
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UPDATE: Naira Redesign: Six APC Govs join suit to halt ban on old notes
At the resumed hearing of the suit challenging the implementation of the naira redesign policy by Nigeria’s Central Bank of Nigeria (CBN) on Wednesday, the Supreme Court was inundated with requests from nine state governors to join the case as co-plaintiffs. TheNewsGuru.com (TNG) earlier reported that two of the three Governors who filed the suit…
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![[Just In] Cash palaver: Ray of hope for Nigerians as Buhari meets with Emefiele, Tambuwal, Bagudu](https://thenewsguru.ng/wp-content/uploads/2022/04/Buhari.png)
[Just In] Cash palaver: Ray of hope for Nigerians as Buhari meets with Emefiele, Tambuwal, Bagudu
…shelves meeting with govs forum Ray of hope for Nigerians as President Muhammadu Buhari privately meet with the Chairman of the Nigeria Governors’ Forum, Aminu Tambuwal; and the Chairman of the Progressives Governors’ Forum, Atiku Bagudu over the scarcity of the three naira notes. Also in attendance at the meeting was the Governor of the…
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Cash crunch: Lagos police uncovers plot to unleash terror
…warns hoodlums The Lagos State Police Command has uncovered plans by some groups of persons to take advantage of the new Naira notes scarcity to unleash violence in some parts of the State. The Command in a statement signed by SP Benjamin Hundeyin, Lagos Police Command PRO cautioned these groups to shelve their planned violence…
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Just In: Court stops CBN from extending new Naira swap beyond Feb 10
Federal Capital Territory, FCT, High Court has stopped the Central Bank of Nigeria, CBN, from extending the deadline for the use of the old naira notes. The court also ordered the CBN to fully implement the redesigned naira. Eleojo Enenche, presiding judge, gave the order while delivering ruling in a suit marked FCT/HC/CV/2234/2023, on Monday.…
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Cashless policy: Reps Cttee submits report, to monitor CBN cash releases weekly
…ask CBN to restore over-the-counter transaction to the old limit before the new policy takes effect The House of Representatives ad-hoc committee on cashless policy on Tuesday submitted its report and recommended that cash releases by the CBN would be monitored on a weekly basis. TheNewsGuru.com, (TNG) reports this came to fore after the adhoc…
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[Just In] Cash swap: Finally, CBN Gov, appears before Reps Cttee, promises Nigerians won’t lose value of old notes after deadline
…as Gbajabiamila drops warrant of arrest threat The Governor CBN, Godwin Emefiele on Tuesday finally honoured House of Representatives ad-hoc committee invitation after several failures, promising Nigerians will not lose value of their naira after February 10 deadline. TheNewsGuru.com, (TNG) recalls the House Speaker, Femi Gbajabiamila had last Thursday vowed to sign a warrant of…
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Cash swap : Emefiele declares war on commercial banks, insists no more cash withdrawal across the counter except ATM
… vows to sanction defaulters … EFCC, ICPC officials to accompany CBN examiners to inspect bank branches to assess compliance The Governor of Central Bank of Nigeria (CBN) Mr Godwin Emefiele has declared war on commercial banks insisting that no banks should henceforth pay out old notes except through the Automated Teller Machines (ATMs) or…
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Food, cooking gas, kerosene prices continue to soar in Nigeria
The National Bureau of Statistics (NBS) has disclosed that the prices of selected food items increased in December 2022.