Economy
Old Design Naira Banknotes Remain Legal Tender Indefinitely – CBN
The Central Bank of Nigeria (CBN) on Tuesday announced that the Old Naira Notes will continue to used as Legal Tender indefinitely. The Apex Bank which disclosed this in a statement by the Director of Corporate Communications, Dr Isa AbdulMumin, recalled that it introduced the redesign of N200, N500 and…
Read More »CBN reacts to reports of cash scarcity, legality or otherwise of old Naira banknotes
The Central Bank of Nigeria (CBN) has reacted to reports of a scarcity of cash across some major cities in the country despite its assurances of sufficient cash stocks in all locations. The bank in a statement signed by Isa AbdulMumin, Director, Corporate Communications on Wednesday said, “There have also…
Read More »Cardoso Hosts Khalifa Sanusi, Impact Investing Community
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reiterated that under his leadership, the Bank will focus mainly on the core mandate of price stability. He disclosed this on Thursday, November 2, 2023, while playing host to the Impact Investing Community, led by the…
Read More »Halilu Targets Q1 2024 To Put NASENI Products In Nigeria Market
The Executive Vice Chairman of the National Agency for Science and Engineering Infrastructure (NASENI), Mr. Khalil Halilu has said his vision or direction for the Agency’s products and technologies is to make them available in every household in Nigeria in the next few years. Nonetheless, Halilu disclosed in Abuja today…
Read More »We Have Sufficient Stock of Currency Notes – CBN
Concisedaily- The Central Bank of Nigeria (CBN) has debunked claims of scarcity of cash at the banks, Automated Teller Machines (ATMS) Point of Sales ( POS) and Bureaux de Change in some major cities across the country. In a statement by the Director of Corporate Communications, Dr Isa AbdulMumin,…
Read More »NIMASA Hosts Regional Training On Biofouling Technology Transfer
As part of efforts to explore the newest technologies in Biofouling and in compliance to International Maritime Organization (IMO) rules, the Nigerian Maritime Administration and Safety Agency (NIMASA) is hosting a 3-day Biofouling Management Training for coastal states within the African continent. Speaking at the opening session on Monday, the…
Read More »CBN refutes plans to redenominate Naira
The Central Bank of Nigeria (CBN) has reacted to the wide circulation of a text message suggesting that the Bank plans to redenominate the country’s legal tender, the Naira, with effect from January 2024, saying the message was misleading A statement signed by Isa AbdulMumin PhD, Director, Corporate Communications said, “We…
Read More »FG, States, LGs Share N903bn for Sept 2023
The Federation Account Allocation Committee (FAAC), shared a total sum of N903.480 billion to the three tiers of government as Federation Allocation for the month of September, 2023. The meeting was chaired by the Minister of Finance and Co-ordinating minister of the Economy, Mr. Wale Edun. From the stated amount…
Read More »Elumelu wants NAICOM to raise capital base for Non-life companies to N30b, N1b to re-capitize insurance brokers
Chairman of Heirs Holding, Tony Elumelu has called on National Insurance Commission (NAICOM) to raise the capital base of Non-life insurance companies to N30billion and N20 billion for life insurance firms. Elumelu who spoke at the National Insurance Conference 2023, with the theme: ‘Redefining Safety: Insurance solutions for public buildings…
Read More »FG proposes N26.01trn for 2024 fiscal year
The Federal Government has proposed the sum of N26.01 trillion for the 2024 appropriation based on oil price benchmark of $73.96 and 21 per cent interest rate. Minister of Budget and Economic Planning, Atiku Bagudu, disclosed this to State House Correspondents at the end of the Federal Executive Council (FEC)…
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