The Central Bank of Nigeria (CBN) has directed commercial banks to start disbursing and receiving old naira notes in compliance with the Supreme Court’s directive. The Apex bank issued the directive, on Sunday night, after a meeting of the Bankers Committee. Godwin Emefiele, CBN Governor chaired the meeting. Gov Chukwumeka Soludo of Anambra State confirmed […]
The Central Bank of Nigeria (CBN) says it recorded N503 billion in repayment of loans under its Anchor Borrowers’ Programme (ABP), representing 52.39 per cent. Acting Director of Corporate Communications Department, Dr AbdulMumin Isa, announced this in a statement in Abuja on Monday. Isa said that the apex bank remained committed to its developmental mandate […]
The Nigerian National Petroleum Company Limited says it has about 2.1 billion litres of petrol in stock. It, therefore, advised Nigerians against panic buying as it has an adequate supply for now. The company gave the assurance in a statement by its Chief Corporate Communications Officer, Garba-Deen Muhammad. It stated that the 2.1 billion litres […]
The Supreme Court on Friday ordered the Federal Government to allow the old N1000, N500 and N200 notes to recirculate until Dec. 31, this year. The Apex court directed that the old notes should be allowed to circulate alongside the new notes till then. Some state governments had filed a suit against the Federal Government […]
The Naira exchanged at N461.75 to the dollar at the Investors and Exporters window on Friday. The rate represented a further depreciation by 0.08 per cent, compared with the N461.40, which it exchanged to the dollar on Thursday. The open indicative rate closed at N461.33 to the dollar on Friday. An exchange rate of N462.04 […]
Two men – Tunde Okunuga, 33, and John Solomon, 19 – on Thursday appeared before an Iyaganku Magistrate’s Court, Ibadan, for allegedly damaging a glass door of the Shoprite on Ring Road, Ibadan. The defendants, whose residential addresses were not provided, are facing charges of conspiracy, malicious damage and perjury. They, however, pleaded not guilty […]
The Nigeria LNG (NLNG) has signed a Memoranda of Understanding (MOU) with three Nigerian teaching hospitals to flag off the second phase of its multi-billion-naira hospital support programme (NLNG-HSP). The NLNG-HSP is NLNG’s national Corporate Social Responsibility initiative, according to Andy Odeh, General Manager, External Relations and Sustainable Development. CSR initiative, Odeh said in a […]
The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has ordered its members to stay at home for safety of their lives. This is contained in a circular ANS/1IR/JAOP/5018 issued to unit presidents and secretaries by National President, Olusoji Oluwole on Friday. The order is a sequel to attacks on deposit banks […]
The Central Bank of Nigeria (CBN) says it has not authorised any Deposit Money Banks (DMBs) to accept the old N500 and N1,000 banknotes. The apex bank described, as false, the news going around to that effect. The news that the apex bank authorised DMBs to accept the old notes broke on Friday and went […]
The 2022 annual report of Mercedes-Benz Group AG, published on Friday, showed a modest increase in the German carmaker’s unit sales and profitability. Last year, Mercedes sold 2.45 million vehicles, against 2.32 million vehicles in 2021. The company’s EBIT (earnings before interest and taxes) rose by 28 per cent year-on-year to $21.8 billion (20.5 billion […]