By Ogar Monday The Presidential Enabling Business Environment Council, PEBEC, a Federal Government Agency responsible for facilitating the ease of doing business in Nigeria, has listed Cross River as one of the worst States in Nigeria to do business. In the report made publicly available recently, Cross River State ranked 33 out of 37, with
By Abiodun Alade, Daily Post The Central Bank of Nigeria (CBN) has confirmed the evacuation of banknotes from its vaults to commercial banks across the country as part of a coordinated effort to ease the circulation of banknotes of various denominations. The CBN has also directed all commercial banks to open for operation on Saturdays
By Bridget Edokwe, BarristerNG Due to the recent hiccups experienced by bank customers and their inability to use mobile apps and other digital touchpoints, Nigerians have begun the search for alternatives as fintech firms have taken over the ecosystem and provided better experiences. These licensed mobile operators have provided relief to many Nigerians at the
By Kingsley Charles, Rest of World As inflation rises above 20%, middle-class Nigerians are forming WhatsApp groups to buy food items in bulk directly from producers and share among themselves. Rest of World tracked nine such WhatsApp groups across six Nigerian cities, where members could save up to 22% on food items compared to market
By Nwuese Igonor, AIT Commercial banks have been directed by the Central Bank of Nigeria to dispense old currency notes and to also receive the same as deposits from customers. Tellers at commercial banks are to generate the codes for deposits and there is no limit to the number of times an individual or company
By Ogar Monday On October 26, 2022, Nigeria’s financial regulatory agency, the Central Bank of Nigeria, CBN, announced that it intends to withdraw and redesign the country’s N200, N500, and N1000 notes. Godwin Emefiele, the CBN Governor, revealed that the redesign and recall of the old note was, amongst other things, an effort to mop
By Emmanuella Obaje-Daniels, Channels Television The Supreme Court on Friday ordered that old N200, N500, and N1,000 notes remain in circulation till December 31, 2023. The apex court also nullified the Federal Government’s naira redesign policy, declaring it as an affront to the 1999 Constitution. Justice Emmanuel Agim, who read the lead judgment, held that
By Faith Abiodun Uwaifo, The Nation Newspaper Since the implementation of the cash swap policy of the Central Bank of Nigeria(CBN) on February 10, Nigerians have been going through hell to transact and fulfill daily obligations. Protests and riots have been recorded in many cities and towns over the scarcity. Here are five ways to