LAGOS FEBRUARY 8TH (NEWSRANGERS)-The Supreme Court Wednesday ordered the Central Bank of Nigeria (CBN) not to end the use of old naira notes on 10 February. The News Agency of Nigeria (NAN) reports that a seven-member panel of the court, led by John Okoro, gave the order of interim injunction amid acute scarcity of newly…
LAGOS FEBRUARY 6TH (NEWSRANGERS)-Three state governors — from Kaduna, Kogi and Zamfara in the north of the country — all belonging to the ruling party sued the federal government, seeking the suspension of the central bank’s plan that has caused a cash crisis and disrupted transactions in Africa’s largest economy. The governors appealed to the…
LAGOS JANUARY 29TH (NEWSRANGERS)-The Central Bank of Nigeria has extended deadline for the swapping of old naira notes till February 10, 2023. The CBN stated this in a release on Sunday. The apex bank said it added a 10-day extension of the deadline from January 31, 2023, to February 10, 2023, to allow for…
By Muiz Banire LAGOS JANUARY 27TH (NEWSRANGERS)-I have always contended that Nigeria as a country is a unique one in all ramifications. Is it the natural endowments of the country you want to consider? The strategic location of the country? The climate change challenges of being afflicted by all the three major consequences of desertification,…
LAGOS JANUARY 25TH (NEWSRANGERS)-The old Naira notes have become out of use in Zamfara State as traders, business centres, marketers and even Point of Sale, POS, providers have been rejecting the notes since last week even though the deadline for their use has not expired. DAILY POST can authoritatively state that commercial banks in the…
LAGOS JANUARY 25TH (NEWSRANGERS)-The Central Bank of Nigeria expects at least 2 trillion naira ($4.3 billion) of cash to return to banks by Jan. 31 when the deadline to replace high-value currency notes ends. Residents exchanged as much as 1.5 trillion naira of the old notes as of last week, Governor Godwin Emefiele told reporters…
LAGOS JANUARY 17TH (NEWSRANGERS)-The Central Bank of Nigeria, in line with its mandate to promote stability, inclusion and growth in the financial and payment system, has introduced a national domestic card scheme that becomes effective on January 16, 2023. Although the bank is yet to disclose the procurement cost and operational charges, Nigerians will from…
LAGOS JANUARY 14TH (NEWSRANGERS)-A high court sitting in Akure, the Ondo state capital, has granted a garnishee order directing the Central Bank of Nigeria(CBN) to freeze the account of Polaris Bank over a judgment debt of N2.16 billion. A garnishee order is one of the options open to a judgment creditor to enforce a judgment…