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Central Bank of Nigeria (CBN) has dissociated itself from a report making the rounds that it had extended the validity of old N500 and N1,000 notes to May 1st, describing the story as fake news. The fake statement purportedly issued by the Director of Communications, Osita Nwanisobi, quoted him as saying: “Due to the current […]
Continue ReadingMega social media, Facebook and Instagram owner, Meta, will launch a paid subscription service starting at $11.99 a month allowing users to verify their accounts, CEO Mark Zuckerberg announced Sunday, following a similar move by Elon Musk at Twitter. Meta Verified, which reports say will roll out first in Australia and New Zealand this week, […]
Continue ReadingA video showing a crowd in front of the Central Bank of Nigeria annex office in Kaduna state as they attempt to deposit their old N500 and N1000 notes has made the rounds on social media. On Thursday, February 16, President Buhari in a nationwide broadcast extended the validity of the old N200 notes till […]
Continue ReadingCentral Bank of Nigeria (CBN), insisting that the old N500 and N1,000 currencies were no more legal tender, has ordered commercial banks to start collecting the old N500 and N1,000 notes from the public with immediate effect. The apex bank however pegged the maximum amount the banks can collect at N500,000. A source from the […]
Continue ReadingThe Central Bank of Nigeria (CBN) has reportedly announced that the old N200, N500 and N1000 ceased being legal tender since February 10, 2023. Though the Supreme Court had issued an order which restrained the apex bank from going on with the February 10 deadline until it rules on a case before it on February 15, […]
Continue ReadingAttorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami, SAN, has filed processes challenging the jurisdiction of the Nigerian Supreme Court to suspend the scheduled deadline of Naira swap and demonetization. Malami, in a preliminary objection he filed on behalf of the Federal Government, applied for an order striking out the suit that […]
Continue ReadingThe Nigerian Supreme Court has restrained the Federal Government of Nigeria from carrying on with the full implementation of the Naira swap policy. Seven-man justices of the Supreme Court led by Justice John Okoro, has, in a unanimous ruling, granted an interim injunction restraining the Nigerian Government, Central Bank of Nigeria and their agents and […]
Continue ReadingInternet services, SpaceX’s Starlink is now live in Nigeria, according to the company. The Elon Musk-owned firm confirmed this in a tweet on Monday, stating that Nigeria was the first African country to enjoy its services. The billionaire business tweeted, “Starlink is now available in Nigeria – the first African country to receive service.” Nigeria […]
Continue ReadingIn a release on Sunday, the Central Bank of Nigeria (CBN) has extended the deadline for the swapping of old naira notes with the redesigned ones till February 10, 2023. Nigeria’s apex bank said it added “a 10-day extension of the deadline from January 31, 2023, to February 10, 2023, to allow for the collection […]
Continue ReadingNigerian president, Muhammadu Buhari, on Saturday, reiterated his earlier position that there was no going back on the naira redesign project and ruled out the extension of the January 31 deadline for the old N1,000, N500 and N200 to cease from being legal tender. The President’s position was supported by the Central Bank of Nigeria, […]
Continue ReadingA Nigerian female stripper based in Delta State shows off money she makes daily from her hustle. From the video she shared, the lady revealed that she makes the least money on Mondays and makes more on Sundays. Watch in the video below: Video: Koko, Youtube
Continue ReadingBillionaires possess an inordinate amount of wealth that gives them the power to influence the world around us from the economy, to politics, our media and much more. This group of people is highly elite and many of them are the founders of major technology giants or other corporations that we interact with in our daily lives. […]
Continue ReadingA woman has shown what she claims became of the new Naira note after it was washed by mistake. She explained that her sister forgot it in her pocket and washed it. The 500 Naira note faded when it eventually dried. “If rain drenches you and this money is your only hope, you’d be stranded,” […]
Continue ReadingNigeria’s National Assembly, on Wednesday, increased the 2023 budget proposal from N20.51tn to N21.82tn and passed it. Nigerian President, Muhammadu Buhari, had on October 7, 2022, presented a budget proposal of N20.51tn to the parliament with a deficit of N10.782tn. Appropriations Committees of both the Senate and House of Representatives said the N1.3tn increase in […]
Continue ReadingThe newly redesigned Nigeria’s Naira notes will go into circulation from today, December 15. Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, had in October announced that the apex bank would release re-designed N200, 500 and N1000 naira notes by December 15, 2022. He stated that the old notes will cease to […]
Continue ReadingCentral Bank of Nigeria (CBN) has imposed fresh cash withdrawal limits on individuals and organisations, which will become effective on January 9, 2023. By virtue of a memo issued by the CBN to banks on Tuesday, individuals will only be able to withdraw N100,000 per week (from over-the-counter, point-of-sale machines or automated teller machines), while […]
Continue ReadingThe value of naira to dollar fell from N196.92 in June 2015 to N414.72 in June 2022, worsening Nigeria’s foreign debt burden. Within the seven years under review, the naira depreciated by 52.52 per cent against the US dollar. The Monthly Average Exchange Rates of the Naira (Naira Per Unit of Foreign Currency) for 2015 […]
Continue ReadingBashir Ahmad, the aide to the President Muhammadu Buhari on Digital Communications, has compared the newly redesigned Naira notes to old Naira notes that have been phased out. After the new 200, 500, and 1,000 Naira notes were unveiled on Wednesday by Buhari, Bashir Ahmad juxtaposed photos of the new notes with old 10, 20, […]
Continue ReadingThe number of Nigerians making seven-figure or more in naira revenue from YouTube has increased by 60 per cent year-on-year according to the firm. The firm disclosed this while announcing its 2023 Black Voice Fund winners. It stated that there are now over 650 Nigerian YouTube channels with over 100,000 subscribers, with 35 channels having over one […]
Continue ReadingThere are signs that Nigerian politicians who stashed billions of Naira outside the banking system to prosecute the 2023 general election have moved against the planned reintroduction and redesign of Nigeria’s currency by the Central Bank of Nigeria (CBN), according to Thisday. These politicians, it was learnt, have mobilised the National Assembly to pass a […]
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