UPDATE: Supreme Court Scolds Buhari, Emefiele for Disobeying Order on Old Naira Notes  The Supreme Court of Nigeria has described as dictatorial and undemocratic the decision of President Muhammadu Buhari to disobey its earlier order on the continuous use of old N200, N500 and N1000...

JUST IN: Old Naira Notes Remain Legal Tender Till Dec 31 - Supreme Court By Ozumi Abdul The Supreme Court, on Friday, nullified the ban on use of the old N200, N500 and N1000 banknotes as legal tenders. The apex court, in a unanimous decision by a...

Naira Scarcity: Bank Customers Borrowed N947bn According to a document by the Monetary Policy Committee of the Central Bank of Nigeria, Money Banks offered 130,854 new credits valued at N947.46bn to their customers in December 2022. A member of the MPC, Adeola Adenikinju, disclosed this in...

Banks’ Demand Deposits Hit N1.67 trillion in Three Months The Central Bank of Nigeria (CBN) financial data stated that Nigeria’s demand deposits added N1.67 trillion in October (when the naira redesign was unveiled) to hit an all-time high of N20.18 trillion in January. Demand deposits, savings...

Nigerian Stocks Fall by 0.53% As Election Concludes Nigerian stocks ended a five-day run, falling fell by 0.53 per cent on Wednesday. While a total of 29 stocks gained, they were not enough to counter the impact of 12 that lost. Among the losers were bank...

Indirect Taxes Rise By 18.88% To N3trn – NBS   The indirect tax burden on Nigerians rose by 18.88 per cent to N3.03tn in 2022 amid an economic downturn and rising inflation. According to the National Bureau of Statistics, Nigerians paid N3.03tn as indirect tax in 2022,...