Lagos increases bursary and scholarship amount for state indigenes
Lagos State Governor, Mr Babajide Sanwo-Olu, has announced an increase in Bursary Awards for indigenes of the State in Tertiary Institutions to Sixty thousand Naira and Scholarships to Two hundred and Twenty-Five thousand Naira. The Governor stated this at an Interactive session at Alausa, Ikeja with the Theme: “Students as Strategic Partners in the Governance […]
CBN clears the air on conversion of foreign currencies in domiciliary accounts to naira
The Central Bank of Nigeria (CBN) has clarified that there is no plan to convert $30bn domiciliary deposits to naira. Some media reports emerged at the weekend announcing that the Federal Government and the apex banks were considering the conversion of foreign currencies in domiciliary accounts of citizens to naira to stabilise Nigeria’s currency, which […]
CBN says there is adequate supply of the naira notes amidst complaints about scarcity
Amidst complaints by some Nigerians about scarcity of Naira notes, the CentralBank of Nigeria (CBN) says there is adequate supply of the currency. The News Agency of Nigeria (NAN) reports that CBN gave the assurance against the backdrop of complaints by some bank customers on scarcity of Naira notes at the counters, Automated Teller Machines […]
CBN plans new round of recapitalisation for banks and New Foreign Exchange Laws to stabilize Naira
The Governor of Central Bank of Nigeria (CBN), Mr Yemi Cardoso has pledged that the Apex bank will soon introduce new foreign exchange laws and guidelines to achieve price stability, ensure tightening of monetary policies aimed at curbing rising inflation, encourage borrowing and real sector investment. Speaking at the 58th annual bankers’ dinner organised by […]
Nigeria’s Naira weakened across official and unofficial markets as dollar shortages linger on Tuesday and Wednesday on the foreign exchange (FX) market
On Wednesday, Naira fell to N1,150 per dollar, losing 0.43 per cent over N1,145/$1 on Tuesday at the parallel market, also known as the black market. Some street traders bought dollars at N1,145 and sold at N1,150. “There is dollar, but demand is high”, said aboki, a foreign currency trader based in Lagos. At the […]
NASS, CBN battle over old naira notes’ deadline
The Senate and the House of Representatives has again called for the extension of the deadline set by the Central Bank of Nigeria (CBN) as the expiration date for the old N200, N500 and N1000 notes. Correspondent, Raliat Adenekan and Nathan Williams reports that the 2 legislative chambers of the national assembly urged the President […]
Counterfeiting & Hoarding, Reasons for Naira Redesign – CBN
The Central Bank of Nigeria (CBN) on Thursday said counterfeiting and hoarding were the reasons for redesigning and issuing new naira notes. Mrs Amina Abdulmalik, Deputy Director, Currency Operations Department, CBN, said this at the apex bank’s special day, at the ongoing 36th Lagos International Trade Fair in Lagos. Abdulmalik also said the apex bank’s […]
