The Central Bank of Nigeria (CBN) has warned the public to be wary of counterfeit Naira notes in circulation amid reports of currency shortage. In a statement titled ‘Beware of Counterfeit Naira Banknotes in Circulation’, the apex bank on Friday advised Deposit Money Banks, Financial Houses, Bureau de Change, and the public to be vigilant and implement necessary precautions. The …

The shortage of the Naira in recent times crippled the Nigerian economy, the United Nations has disclosed. It stated that the informal sector felt the brunt of the scarcity the most. It noted that the continuing decline of oil production is set to impact the country’s finances in 2023. The UN disclosed this in its ‘Trade and Development Report Update; …

The Nigeria Labour Congress (NLC) has suspended its strike scheduled to commence on Wednesday over Naira scarcity rocking the nation. The pressure group earlier disclosed that it would begin an indefinite strike from Wednesday, adding that it would picket branches of the Central Bank of Nigeria (CBN) across the country. The suspension of the strike was made known today at …

The Nigeria Labour Congress (NLC), on Monday, issued a seven-day ultimatum to the Federal Government to address current fuel and naira scarcity in the country. Briefing journalists at the Labour House on the outcome of a meeting convened by the Central Working Committee of the congress, NLC President, Comrade Joe Ajaero said the union would declare a nationwide strike and …

Operatives of the Ekiti State Amotekun Corps have arrested a man, identified as Celestine, with counterfeited new N1,000 notes amounting to about N250,000. Celestine, who claimed he was an Anambra State born Lagos-based businessman, said he was heading from Lagos State to Isanlu in Kogi State to buy kolanut and bitter kola when he was arrested with the fake new …

Protests over Naira scarcity have erupted in Ogun State, with images online showing two banks set on fire in the Sagamu area of the state. The videos shared on Monday showed many residents watching as Keystone and Union banks were set ablaze with some youths holding planks in protest. Breezy News reported last Friday that protests broke out in the …

Lagos State Attorney-General and Commissioner for Justice, Mr Moyosore Onigbanjo has said that the rejection of the old Naira notes is contrary to the Supreme Court’s stand.  As guest on TVC Business Show aired on Thursday, Onigbanjo, who is a Senior Advocate of Nigeria, said that petrol stations, banks and others who reject the old notes could be prosecuted.   …

Penultimate week when President Muhammadu Buhari could no longer play King Nero over the twin evil of contrived fuel and self-inflicted Naira scarcity, he begged to be given the grace of seven days to sort out the mess, an all-time low no one had imagined Buhari could fall, despite that his incompetence and cluelessness is now everywhere beyond dispute. Last …

With Naira notes-swap protests in parts of the country, the presidential candidate of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu has called for calm among the citizens. In a statement in personally signed on Wednesday, Tinubu said he has been saddened by the reported violent protests in Delta, Oyo, Kwara and Edo States, and some other parts of …

At least four protesters were feared killed on Wednesday when violence erupted in Benin and its environs in Edo State over cash swap policy of the Central Bank of Nigeria (CBN). In Delta State, irate youths set ablaze two commercial banks in protest against the continued scarcity of the new Naira notes and their rejection of the old notes. The victims …