Monday, 5th June 2023

Cash crunch

1 Apr
Long queues at banks in Kano metropolis is disappearing gradually following the injection of more banknotes by the Central Bank of Nigeria (CBN) into commercial banks.
24 Mar
It’s 9pm on a Monday evening and Tunde is desperately looking for cash in Lagos, Nigeria. After queuing for 3 hours at a bank ATM, he approaches a local Point-of-Sale (PoS) agent who charges him N1,500 to withdraw N10,000. He accepts the unfair price with a mix of anger and resignation. He has no cash to get to work the next day and public buses do not accept electronic payments. Tunde’s struggle exemplifies the current fate of everyday Nigerians due to the Central Bank of Nigeria’s recent cash policies.
13 Mar
Lagos State Governor, Mr Babajide Sanwo-Olu, on Monday, directed residents of the State to go ahead and have transactions with the old Naira notes, saying Lagosians should feel free to use the old notes for commercial purposes.
5 Mar
The lingering struggle for cash has caused a sharp decline in business activities leading to steep reduction in output, with new orders and employment scaling down.
21 Feb
Angry youths, yesterday, threw the ancient town of Sagumu, Ogun State into chaos, in protest against naira scarcity. The protest, which began in front of the palace of the Akarigbo of Remoland, Oba Babatunde Ajayi...
20 Feb
Commercial sex workers in the Federal Capital Territory (FCT), yesterday, decried low patronage in their business due to the scarcity of naira notes.


30 mins ago
The All Progressives Congress (APC) stakeholders forum yesterday decried the exclusion of the north central geo-political zone from the sharing arrangement of the principal officers of the National Assembly.
37 mins ago
The Rivers State House of Assembly has elected the 10th assembly speaker and deputy speaker to pilot the affairs of the house for the next four years.
44 mins ago
Buhler, a world-leading grains and food processing solutions company, has announced the introduction of latest technologies to revolutionise the Nigerian food commodity market aimed at strengthening food security, improve export capabilities, and provide affordable, nutritious food options for Nigerians.
49 mins ago
Davido has revealed Don Jazzy was his mentor while growing up in the music industry, and even though he has grown high, he sees Don Jazzy as Jesus, when they first met. While reacting to Davido's confession, Veteran music producer Don Jazzy revealed how happy and proud he is when he looks at how fellow…
1 hour ago
Former Minister of State for Employment, Festus Keyamo (Senior Advocate of Nigeria) has vowed to appeal the dismissal of the suit for the investigation of the presidential flagbearer of the People’s Democratic Party (PDP), Atiku Abubakar over the SPV saga.