Supreme Court: CBN Orders Banks to Issue, Accept Old, New Naira Notes   The Central Bank of Nigeria (CBN) has declared that old and new naira notes will continue to co-exist as legal tender until further notice. The apex bank issued this declaration in line with the...

Old, New Naira Notes to Co-exist Till Further Notice - Supreme Court In a ruling on Wednesday morning, a panel of the apex court ordered that the old notes remain legal tender until necessary facilities are put in place for their replacement. The Supreme Court maintained...

FG’s $1trn GDP Projections not Sufficient, May Fail, Says LCCI The Lagos Chamber of Commerce and Industry (LCCI) has stated that the macroeconomic projections in the Federal Government’s (FG) Medium Term Expenditure Framework (MTEF) are not sufficient to achieve the $1 trillion economy target it...

In Five Years, Nigeria’s Revenue Declined by $1.4bn   The Governor, Central Bank of Nigeria (CBN), Dr Olayemi Cardoso, has revealed that the country’s revenue suffered a significant drop of approximately $1.4 billion, or $275 million annually, between 2015 and 2019 at a time when the...

Banking Consolidation: Mega Banks Boast N10trn Capital Base   As the Central Bank of Nigeria’s proposal to initiate a new banking sector consolidation raises concerns among some industry operators, findings indicate that major banks with foreign subsidiaries currently control N9.6 trillion capital base. This is just data...

Currency in Circulation Hits New High   As latest data indicate, the currency in circulation (CIC) reached a new high of N2.99 trillion at the end of October 2023, it appears that the Central Bank of Nigeria (CBN)’s policies and leadership changes have been playing a...