New naira

An Operations Manager of a leading commercial bank in Central Area of Abuja was, on Monday, arrested by operatives of the Economic and Financial Commission.

This discovery, which indicated a sabotage of the government’s monetary policy by some banks, was made by the EFCC in continuation of the ongoing surveillance and visit to banks across the country to access their vaults and verify whether they were deliberately refusing to dispense the redesigned Naira notes. An Operations Manager of a leading commercial bank in Central Area of Abuja was, on Monday, arrested by operatives of the Economic and Financial Commission (EFCC), for refusing to load the Automated Teller Machines (ATMs) of the bank despite having N29million of the redesigned Naira notes in the branch’s vaults. Before he was whisked away for further questioning, the operatives ordered the loading of all the ATMs and the payment of the stipulated amount across the counter to the delight of the distraught customers, who had spent hours on queues without getting the new notes.

Three northern states are seeking the Supreme Court's order extending the validity of the old N200, N500, and N1,000 notes.

will continue to go through a lot of hardship and would ultimately suffer great losses as a result of the insufficient.” While noting that “vast quantity of official worktime is spent looking for the scarce notes and hunger stalks the entire landscapes of Kaduna, Kogi and Zamfara States. has been well acknowledged even by the Federal Government of Nigeria.” Good journalism costs a lot of money. The three states are in northern Nigeria of which President Muhammadu Buhari’s home state, Katsina State, is a part. He added that money deposit banks would continue to receive the old banknotes even after the deadline.

The February 10 deadline for the currency swap announced by the Central Bank of Nigeria has pitted Governors Nasir El-Rufai of Kaduna, Yahaya Bello (Kogi) ...

The governor who spoke through his Special Adviser on Media and Publicity, Terver Akase, said, “He (Ortom) is in support of the move (litigation). They had done it on a number of occasions like in the case of the judiciary autonomy, state House of Assembly issues, economy and other areas. Titiloye said, “ We are looking at the brief various options, then we became aware that some states have gone to court. But it is part of the democratic culture we promote within our party. “We are not even aware of the case until now that you’re informing us. “Painfully, we must state that this voice of dissent is coming from within the political party of the President. We are going to join because we are interested and it affects political parties in Nigeria. The vast quantity of official work time is spent looking for scarce notes and hunger stalks the entire landscape of Kaduna, Kogi and Zamfara states. Udeze further stated, “You must have seen some of them issue personal statements and state their personal views. Citizens who have duly deposited their old naira notes have increasingly found it difficult and sometimes next to impossible to access new naira notes in order to go about their daily activities”. To achieve this, I have directed that the state-owned Yobe Microfinance Bank opens branches in each of the state’s 17 local governments.” I also understand that the Federal Government cannot bar Nigerians from redeeming their old naira notes at any time, even though the senior notes are no longer legal tender.”

The Peoples Democratic Party (PDP) has advised President Muhammadu Buhari to protect Nigerians by going after political leaders and saboteurs mopping up the ...

“The PDP demands that the bank takes urgent measures to arrest the unbearable situation by ensuring adequate protection and effective monitoring of cash distribution process. “The PDP charges the Central Bank of Nigeria to be mindful of the sufferings being experienced daily by Nigerians. Ologunagba also advised the Central Bank of Nigeria (CBN) to take urgent measures by ensuring adequate protection and effective monitoring of cash distribution.

From Godwin Tsa, Abuja. A High Court of the Federal Capital Territory (FCT) has barred President Muhammadu Buhari, the Central Bank of Nigeria (CBN) and the ...

Arewa Youths said that looters of the commonwealth of the people have lost out while Ohanaeze Youths insist that vote buyers and election riggers have been relegated just as Oduduwa Youth hold the view that kickbacks will be very difficult now, corruption greatly limited and a chance for money laundering made slimmer. Meanwhile, a cross-section of lawyers, a civil society organisation and ethnic youth groups have hailed the order saying it was best for the country and would afford the stakeholders opportunity to now concentrate on how to ameliorate the hardship occasioned by the policy. The order is coming on the heels of a suit filed at the Supreme Court by Kogi, Kaduna and Zamfara states seeking the stoppage of the implementation of the monetisation policy.

Nigerians currently are dealing with naira scarcity due to the recent redesign, but here are five ways to solve this problem.

If you’re lucky enough to know a betting agent and can appeal to their better nature, you can kiss the naira scarcity problem goodbye. Make the subscription of a lifetime Again, it’s important to make friends with people in the right places, and right now, POS operators, fuel attendants, ushers and betting agents should be your best friends. The downside is that it might not work, and you may be thrown out of the bank. ](https://saharareporters.com/2023/02/03/exclusive-nigerians-take-mats-mattresses-banks-atm-galleries-over-long-queues-naira)when money will be loaded into the machines. Regardless of the country’s situation, many people still have cash to give as offerings. But chances are you’ll get half of what you want when you get to the counter, or the ATM will run out of money when it gets to your turn. If you’re smart about it, this is another way to quickly get your hands on the new naira. Just remember to take a blanket so you won’t use the money to treat malaria. Little did we know that this would be the beginning of another story of frustration, anger, and bitterness for many Nigerians. As you might already know, these days, people spend their day at banks or in front of ATMs waiting for their turn to make a withdrawal. In the past few days, ATMs hardly dispense either new or old cash, and banks haven’t been releasing enough of the new notes to make it circulate naturally.