Naira Crisis Worsens As Currency-in-Circulation Drops To N1.54trn   Amid the worsening naira crisis, the total amount of currency-in-circulation in the Nigerian economy has tumbled from N3.3tn to N1.54tn, a Central Bank of Nigeria document has revealed. This came as a biting shortage of new naira notes...

JUST IN: CBN Denies Ordering Banks to Collect Old N1000, N500 Notes By Ozumi Abdul The Central Bank of Nigeria (CBN) has denied reports making the rounds that it has authorized deposit money banks to collect the old N500 and N1,000 banknotes. In a statement by Osita...

Cash Crunch: CBN Gives Fresh Order to Banks Over Old N500, N1,000 Notes The Central Bank of Nigeria (CBN) has directed commercial banks to start collecting the old N500 and N1,000 notes from the public with immediate effect. It was also learned that the CBN however...

We Now Spend Above N400bn Monthly on Subsidy - NNPCL The Nigerian National Petroleum Company Limited, on Friday, revealed that the amount spent as subsidy on Premium Motor Spirit, popularly called petrol, had crossed N400bn monthly. NNPCL’s Group Chief Executive Officer, Mele Kyari, disclosed this at...

Fighting Erupts in Lagos Due to Naira Scarcity Fighting erupted in some areas on the popular Lagos-Ikorodu expressway in Lagos State over the scarcity of the new naira notes and the hardship the policy has thrown Nigerians. On Friday morning, it was gathered that suspected louts...

Old Notes Remain Legal Tender in Jigawa, Kaduna - Govt The Jigawa State Government has said the old naira notes remain legal tender in the state pending the judgment of the Supreme Court. In the same vein, the Kaduna State Governor, Malam Nasir El-Rufai, in a...