Tag: New Naira

<strong>Naira Scarcity: El-Rufai Blows Hot, Counters Buhari’s Directive On Old Naira </strong>

17Feb

By Mary UgwuanyiNo Comments

Economy, Finance, Judiciary, News, Nigeria

Naira Scarcity: El-Rufai Blows Hot, Counters Buhari’s Directive On Old Naira

Kaduna State governor, Nasir el-Rufai, has directed that old and new naira notes remain legal tender in the state pending the outcome of supreme court judgment. Buhari in a televised address on Thursday said he has directed the Central Bank of Nigeria, CBN, to allow N200 notes remain legal tender until April 10. According to the president, all N500 and N1,000 notes will remain redeemable a the CBN and designated points for 60 days. His directive came less than 24 hours after the supreme court insisted that the old notes were still valid, and adjourned the case filed by many states – including Kaduna, seeking an extension to the deadline on the old notes beyond February 2022. Reacting, el-Rufai stated that all old notes would remain legal tender until the supreme court dete...

<strong>Kwara Polytechnic Halts Exams Over Naira Scarcity</strong>

16Feb

By Mary UgwuanyiNo Comments

Education, Finance, News, Nigeria

Kwara Polytechnic Halts Exams Over Naira Scarcity

The management of Kwara State Polytechnic has closed down the institution for about 29 days after a protest on Wednesday at Apata Yakuba and the polytechnic axis over naira scarcity. The institution also shifted its ongoing semester examinations till after the general elections. This was contained in a statement issued by Halimat Garba, the institution’s Public Relations Officer, urging the students not to be on campus between Wednesday, February 15, 2023 and Tuesday, March 14, 2023. Garba said the school is shut down to allow students to perform their civic responsibility by participating in the forthcoming general elections and in line with the directive from the Federal Ministry of Education for the security of staff, students, and property of the institutions. The stat...

Gov Matawalle Orders Arrest of Persons Rejecting Old Naira Notes

11Feb

By Mary UgwuanyiNo Comments

Finance, Judiciary, News, Nigeria

Gov Matawalle Orders Arrest of Persons Rejecting Old Naira Notes

Zamfara State governor, Bello Matawalle has asked security operatives to arrest anybody who refuses to recognize and accept old naira notes for transactions in the state. The governor issued the directive at a swearing-in ceremony of the new High Court Judges and Special Advisers held at the Government House Gusau on Friday. Matawalle described the redesigning of the currency as ill-timed and wrongly implemented. He directed that, “Anyone who refuses to accept the old currency notes of N200, N500, and N1000 in the state should be arrested.” According to the Zamfara governor, old currency notes remain legal tender until the final verdict of the case filed against the Central Bank of Nigeria and the Federal Government by three northern governors of Kaduna, Kogi, and Zamfara ...

<strong>Protesters Storm UI Gate, Soldiers Deployed To Scene</strong>

6Feb

By Mary UgwuanyiNo Comments

Economy, Education, News, Nigeria, Petroleum, Uncategorized

Protesters Storm UI Gate, Soldiers Deployed To Scene

Protesters converged at the gate of the University of Ibadan, Oyo State, on Monday morning to express their disaffection over the present economic challenges in the country. Members of the community barricaded the varsity’s gate, thereby causing traffic jam and putting a stop to other activities. According to a student who chose to be anonymous, soldiers and Operation Burst officers had been deployed to the scene, at the time of filing this report, Punch reports. However, the institution’s Communication Officer, Mrs Adejoke Akinpelu, said the protesters had been dispersed by the security personnel. See Also: 2023 Election: Suspend Academic Activities In All Tertiary Institutions – Reps Tells FG She said, “The U.I Chief Security Officer told me that it was some miscreant...

<strong>Redesigned Notes Stain Plain White Surfaces – NSPM</strong>

7Jan

By Mary UgwuanyiNo Comments

Finance, News, Nigeria

Redesigned Notes Stain Plain White Surfaces – NSPM

The Nigerian Security Printing and Minting Plc, NSPM, has enlightened Nigerians on some features of the newly redesigned naira notes in order to clarify concerns about the quality of the notes. The Managing Director of NSPM, Ahmed Halilu, in a statement released on Friday, stressed the need to educate citizens on the features of the new notes. The statement partly read, “The attention of the Nigerian Security Printing and Minting Plc has been drawn to various clips, skits, concerns, and comments on various platforms regarding the quality of the redesigned banknotes that were recently unveiled and issued by the Central Bank of Nigeria. “As the nation’s foremost security printing and minting company saddled with the responsibility of producing the country’s currency (naira), we...