Cash Crunch: CBN Launches USSD for eNaira The Central Bank of Nigeria has launched the USSD channel of the Central Bank Digital Currency tagged the eNaira on Bullnet platform to boost the usage of the platform. It was launched in Lagos on Thursday during an event...

Commercial Banks to Shut Branches Early Ahead of 2023 Election   Deposit Money Banks have announced they will be closing early on Friday, a day ahead of the presidential polls holding nationwide on Saturday. In notices issued by banks to their customers seen by our correspondents, the...

Naira Scarcity: Customers Fight Over N5,000 The continued scarcity of the naira has increased the hardship of many bank customers who are now forced to join long queues to withdraw N5,000 over-the-counter. This has increased the frustration of many people waiting to collect cash and has...

Amid FG Borrowings, Money Supply Reached N53.27trn In January   On the back of the federal government increased borrowing, money supply (M3) in the economy increased to N53.27 trillion in January 2023, representing a 17.87 per cent Year-on-Year (YoY) increase from N45.19 trillion reported in January...

Report Reveals Kerosene Soared By 136% To N1,105 In December, 2022   The average retail price per litre of household kerosene rose by 136 per cent to N1,105 in December 2022 from N468 in the same period of the previous year, the latest data released by...

DMO Promises Not To Exceed 2023 Borrowings As FG Borrows N2.13trn In Two Months The Debt Management Office (DMO) has assured that it will not exceed the legally approved new borrowing in the 2023 Appropriation Act. The DMO was reacting to a report that the Federal...