The Minister of Labour and Employment, Dr Chris Ngige has disclosed that the Naira redesign policy of the Central Bank of Nigeria (CBN) has its benefits despite the challenges associated with it. The Minister, who made the assertion on Wednesday during his appearance on Channels Television’s Politics Today programme, argued that there were sound benefits Nigerians derived from the aforesaid …

Demonetisation is the process of withdrawing the legal tender status of a currency. This has been used by several governments around the world to combat illegal activities such as money laundering, tax evasion, and terrorist financing. In November 2016, the government of India demonetised its two highest denominations – the 500 and 1,000 rupee notes – which made up a …

Commercial banks have been directed to open for operation on Saturdays and Sundays as part of a coordinated effort to ease circulation of Naira of all denominations. The directive, which was announced on Friday by the Acting Director of Corporate Communications at the Central Bank of Nigeria (CBN), Dr. Isa AbdulMumin, came as the apex bank confirmed the evacuation of …

An employee of the Lagos State University (LASU), Johnson Adesola died while waiting in a queue to withdraw money at a bank on the institution’s main campus in Ojo. Adesola was a Chief Executive Officer in charge of accounts at the university’s bursary department and an Executive Officer in the Accounts Department of the institution. A few minutes after he …