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As CBN deadline ends: Banks resume charges on large deposits

Banks and other financial institutions in Nigeria have resumed collection of charges on large deposits from individual and corporate accounts, a report by an online platform, Nairametrics, has shown. This followed the expiration of the temporary suspension issued by the Central Bank of Nigeria (CBN) on same. Daily Trust reports… ....

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How banks' multi-billion naira cashless investments collapsed during cash scarcity

"I don’t know what to do. Those who patronise me don’t have cash and I don’t accept bank transfers,” a fruit seller at Mile 12 Market, Isa Yusuf." ....

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Foreigners troop to Nigeria as citizens japa in search of greener pastures

A recent visit to the departure hall of the Murtala Muhammed International Airport (MMIA), Lagos was a beehive of activities with thousands of Nigerians leaving the country. From findings, majority of them were going with a one-way ticket, which means that they have no intention of coming back soon, if at all they would return. This… ....

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FG automates forex transactions as naira slumps to 1,220/dollar

By Philip S. Clement, Muideen Olaniyi (Abuja) & Abdullateef Aliyu (Lagos) The federal government yesterday announced plans to automate transactions in the entire foreign exchange market in order to close the wide arbitrage and punish naira speculators. The Minister of Finance and Coordinating Minister for the Economy, Wale Edun, disclosed this in Abuja during the… ....

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Naira Redesign: Abject Failure Of Leadership!

Let me start this piece by stating that this columnist supports and supported the underpinnings of the naira redesign policy. I wrote severally and copiously ....

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