Economy Archives - Page 52 of 69

Jan

29

2023

Old Naira deadline is Feb.10, deposit to continue till 17th February – CBN.

Business, Economy, Lifestyle, Metro, Politics2023, Business, CBN, Economy, Emefiele, Metro, Nigeria, Politics

The Central Bank of Nigeria has extended the deadline for the swapping of old naira notes with the redesigned ones till February 10, 2023. The CBN stated this in a release on Sunday. The apex bank said it added “a 10-day extension of the deadline from January 31, 2023, to February 10, 2023, to allow for the collection of more old notes.” This is according to the CBN governor, Godwin Emefiele. He also noted that Nigerians would still be able to deposit their old notes directly with the CBN until February 17, 2023, described as “grace period.” There has been…

Dec

22

2022

By Amos Oge Kalu

Fuel scarcity: Depots dry up, Nigerians face bleak Christmas

Business, Economy, Lifestyle, MetroDeeper Life, Economy, Fuel Scarcity, Lifestyle, Metro, Nigeria

By Okechukwu Nnodim, OpeOluwani Akintayo, Toni Ufoh, Naomi Chima, Dayo Oyewo and Mohammed Farida The queues for Premium Motor Spirit, popularly called petrol, which was gradually abating recently, suddenly re-emerged on Wednesday in many cities, including Lagos and Abuja. The development clearly shows that Nigerians face bleak Christmas as fuel scarcity has started taking a toll on motorists, who have hiked their fares. It was gathered that many depots were currently running out of the product, a development that reduced supplies from depots to retail stations across the country. In Abuja, many filling stations, particularly those of independent oil marketers,…

Dec

22

2022

By Amos Oge Kalu

Lai Mohammed says Twitter begged Nigeria to lift suspension

Business, Economy, Metro, Opinion, PoliticsEconomy, Lai Mohammed, Metro, Nigeria, Opinion, Politics, Twitter

The government of Nigeria has stated that Twitter and the country engaged in lengthy negotiations before Twitter was reinstated in the country late last year. In response to a claim by a former top Twitter official that there was no dialogue between the business and Nigeria to remove its suspension on Twitter, Minister of Information Lai Mohammed made the explanation. At a Monday morning press conference in Abuja, Mohammed said it was ridiculous to try to deny what had happened between the two sides. If you enjoy this story, please do not forget to check out our other news stories:…

Dec

21

2022

By Amos Oge Kalu

NASS to pass new revenue-sharing formula, budget Thursday

Business, Economy, Lifestyle, Metro, News, Opinion, PoliticsBudget, Economy, National Assembly, Representatives, Senate

The President, Major General Muhammadu Buhari (retd.), has transmitted the Finance Bill 2022 to the National Assembly as the federal parliament is billed to pass the 2022 Appropriation Bill by Thursday. Speaker of the House of Representatives, Femi Gbajabiamila, at the plenary on Tuesday, read out the cover letter of the President on the bill, which was titled ‘Transmission of the Finance Bill 2022 to the National Assembly for Consideration and Passage into Law in Support of the 2023 Budget.’ In the bill, the Federal Government proposed expanding the tax net and more equitable revenue-sharing formula and allocation to state…

Dec

20

2022

By Amos Oge Kalu

Withdrawal Limit: I am not available to brief you – Emefiele writes Reps

Business, Economy, News, OpinionBusiness, CBN, Economy, Emefiele, National Assembly, Nigeria, Representatives

The Central Bank Governor, Godwin Emefiele has once again failed to appear before the House of Representatives over the cash withdrawal limit policy of the CBN. The CBN Governor, in a letter written by the Deputy Governor, of Corporate Services, Edward Adamu, said he is currently outside the country for an official assignment. He stated that he will communicate with the House on an appropriate date. “Regrettably, the governor is unavailable to brief the House of Representatives at this time, because he has other scheduled official engagements he is currently addressing abroad. ”Accordingly, he has requested that we respectively convey…