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Shettima urges banks to address Naira scarcity, PoS operators’ sharp practices

Vice-President Kashim Shettima on Friday urged banks to tackle the cash scarcity in the country.Shettima made the call at the 2024 Bankers’ Committee Retreat...
Business

Currency in circulation up by N200bn in 5 months. What you should know

The currency in circulation (CIC) has increased by 7.4% in the first five months of 2023, the Central Bank of Nigeria (CBN) has revealed.In...
Business

MTN Nigeria CEO, Toriola, complains of CBN’s Naira redesign policy, FX scarcity

The Chief Executive Officer of MTN Nigeria, Karl Toriola, said the telecommunications company bore the brunt of the side effect of the Naira redesign...
Business

Nigerian Breweries blames Emefiele’s CBN policy for N10.71bn loss

The operation of Nigerian Breweries was negatively impacted by the Naira redesign policy of the Central Bank of Nigeria (CBN) in the first quarter...
Business

Cash shortages in Q1 to weaken Nigeria’s growth in 2023 –Fitch

Fitch Solutions, the research arm of credit rating agency, Fitch ratings, has predicted that Nigeria’s economy will grow by only 2.3 percent this year,...
Business

Naira cash crises push E-payment transactions to N135tn in 3mths

The Nigeria Interbank Settlement System (NIBSS) has revealed that the value of e-payment transactions rose to N135.52 trillion in the first quarter of 2023.This...
Business

Naira cash crises pushes E-payment transactions to N135tn in 3mths

The Nigeria Interbank Settlement System (NIBSS) has revealed that the value of e-payment transactions rose to N135.52 trillion in the first quarter of 2023.This...
Business

BUSINESS ROUNDUP: Kenya, Tanzania fine GTBank; Naira scarcity pushes Nigeria’s inflation to 22.04%; other stories

Hello, and welcome to the Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital...
Business

Naira scarcity: NLC to picket CBN offices nationwide

The Nigeria Labour Congress (NLC) has said it would picket all Central Bank of Nigeria (CBN) offices nationwide on March 29, following the continued...
Business

Naira scarcity to persist, as CBN removes N2.3tn from circulation

As Nigerians battle with Naira scarcity, the Central Bank of Nigeria (CBN) continues to mop up currency in circulation, leaving the economy with N982.09...
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