Category: News
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ASUU Reacts To Hardship Caused by Naira Scarcity
The Academic Staff Union of Universities, ASUU, has reacted to the the hardship created by the newly designed naira introduced by the Central Bank describing politicians behind the policy as “selfish, unpatriotic and self-renting”. ASUU President, Prof Emmanuel Osodeke, made the remarks in statement made available to the public on Friday. Osodeke said Nigerians were…
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Why Naira Redesign Policy Is Failing – CBN Governor, Godwin Emefiele
Premium Times Supply constraint arising from the limited capacity to print enough new Naira notes is responsible for the severe cash crunch hurting Nigerians, CBN Governor Godwin Emefiele admitted amid the disappointing naira swap policy of the Buhari administration. Mr Emefiele made the disclosure on Friday when he briefed the emergency meeting of the National…
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Council of State Backs Cashless Policy, Raises Concerns
The Council of State meeting, presided over by President Muhammadu Buhari on Friday, gave their support to the naira redesign policy but with a caveat that the Governor of Central Bank of Nigeria (CBN) Godwin Emefiele, should make new Naira notes available or recirculate the old notes to ease the suffering of Nigerians. The hybrid…
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Despite Supreme Court order, Stanbic IBTC, Union Bank, others insist on rejecting old naira notes
Commercial banks are insisting on the Central Bank of Nigeria February 10 deadline to deposit old N200, N500 and N1,000 banknotes despite a temporary halt of the process by the Supreme Court. Financial institutions like Stanbic IBTC, Union Bank and other commercial banks said they would stick to the February 10 deadline for accepting old…
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CBN Gives Reason For Redesigned Naira Scarcity
Central Bank of Nigeria (CBN) has attributed scarcity of the redesigned naira notes to hoarding by citizens. Rashidat Monguno, director, consumer protection department of CBN, spoke on Thursday in Kwara state while monitoring the compliance of microfinance banks to the apex bank’s naira redesign policy. She said the redesigned notes were made available by the…
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ASUU, Vice-Chancellors Kick Against Closure of Universities
The Academic Staff Union of Universities, ASUU, has kicked against the directive of the National Universities Commissions, NUC, to the Committee of Vice-Chancellors of Nigerian Universities that universities should be shut to enable students to participate in the forthcoming general elections. The NUC gave the directive in a letter on Tuesday addressed to vice-chancellors of…
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Buhari Approves Establishment of Transition Council For Next Administration (See Members)
President Muhammadu Buhari has approved the establishment of a Presidential Transition Council for facilitating and managing the 2023 transition programme. The President also signed the Executive Order No. 14 of 2023 on the Facilitation and Management of Presidential Transitions. This was disclosed in a statement by Willie Bassey, Director of Information for the Secretary to…
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NUC Orders Closure of Varsities
The National Universities Commission, NUC, has ordered the closure of universities across the country to enable students to participate in the 2023 general elections, The PUNCH reports. In a letter addressed to vice-chancellors of all universities and directors of inter-university centres, the NUC noted that the directive was based on the directive of the Minister…
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FG Wants Interim Judgement Over Old Naira Notes Dismissed
The Federal Government through the Attorney-General of the Federation, Abubakar Malami, has asked the Supreme Court to dismiss a suit filed by three northern state governments challenging the February 10 deadline set by the Central Bank of Nigeria to end the legal tender status of the old naira notes. The government argued that the Supreme…
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Bank Workers Threaten To Withdraw Services Over Attacks
The National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE) has threatened to withdraw the services of its members nationwide following attacks on some commercial banks. It also said it would not stop the withdrawal until the attacks on its workers were addressed, and security ensured. NUBIFIE’s general secretary, Mohammed Sheikh, in a statement…