A Federal High Court, sitting in Maiduguri, Borno State on Tuesday, March 14, 2023 heard how a former minister of power, Mohammed Wakil and others shared a sum of N450million meant to influence the outcome of the 2015 presidential election in Borno State. The Maiduguri Zonal Command of the Economic and Financial Crimes Commission, EFCC,...
Category: Business
CBN Breaks Silence, Says Old N200, N500, N1,000 Notes Remain Legal Tender Till Dec 31
The Central Bank of Nigeria (CBN) on Monday said old N200, N500, N1,000 banknotes remain legal tender till December 31, 2023. The apex bank’s Acting Director of Corporate Communications, Isa AbdulMumin disclosed this in a statement on Monday. This is coming 10 days after the Supreme Court ruled that old naira notes should co-exist with...
IBEDC Decries Assaults Against Its Staff, Facilities, Appeals For Caution
In light of recent incidents of attacks across our business locations, the Management of Ibadan, Electricity Distribution Company (IBEDC) Plc would like to appeal to the public to refrain from engaging in such acts of violence against its employees and facilities. A statement signed by the Managing Director of the company, Engr. Kinsley Achife said...
CBN Launches Portal For Deposit Of Old Naira Notes
The Central Bank of Nigeria (CBN) has created a portal for the deposit of old naira notes. The bank published a notification titled ‘redemption of currency’ during a Wednesday check on the apex bank’s website. According to the CBN, Nigerians can redeem their old N1,000, N500, and N200 notes by completing an online form. The...
Economy: Buhari Orders Old N200 Notes To Co-Exist With New Notes For 60 Days
President Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) to release old N200 notes into circulation to co-exist with the new N200, N500 and N1,000 banknotes for 60 days. The President, who made this known in a nationwide broadcast on Thursday, directed the CBN to allow the new notes available to all citizens....
We’ll Deal Decisively With Businesses Rejecting Old Naira Notes, Says Ogun Gov
Ogun State Governor, Prince Dapo Abiodun, has reiterated his warning that the state government will clamp down on banks and businesses rejecting the old naira notes. Explaining that part of the measures being considered may include getting security agencies to arrest anyone who refuses to accept old Naira notes, the Governor said the directive became...
Allow Old, New Notes Co-Exist For 12 Months, Tinubu Tells CBN
The presidential candidate of the All Progressives Congress (APC), Bola Tinubu has asked the Central Bank of Nigeria (CBN) to allow old and new N200, N500 and N1,000 notes to co-exist as legal tenders for the next 12 months. The APC flag bearer also asked the apex bank to suspend all charges associated with online...
$9.6bn P&ID Fraud: Nolan’s Surety May Lose N100m Bail Bond
An Igala Chief, George Kadiri, who stood surety for James Nolan, the Briton at the centre of the ongoing $9.6bn Process and Industrial Development Scam trial, has until March 7, 2023 to show cause why his N100,000,000 bail bond should not be forfeited to the Federal Government. Justice Obiora Egwuatu of a Federal High Court...
IBEDC To Invest N14bn On Infrastructure To Reposition Service – MD
The Ibadan Electricity Distribution Company (IBEDC) says it plans to invest N14 billion in technical infrastructure to reposition its business operations and provide electricity to underserviced communities The Managing Director of IBEDC, Mr Kingsley Achife, said this in an interview with the News Agency of Nigeria on Friday in Ibadan. Achife said that the N14...
Egba Economic Summit Holds Political Engagement Forum Tuesday
An engagement forum organised for party Legislative candidates in Ogun Central by the Egba Economic Summit (EES) holds on Tuesday, 31st January, 2023 at the Centenary Hall, Abeokuta beginning from 10 in the morning. A release signed by the Vice President of the body, Mr Chris Oluyinka Coker enjoined all party candidates, patriotic and knowledge...