Some bank customers on Friday alleged bank officials’ connivance with Point of Sale operators (PoS), which makes it difficult for them to easily have access to cash from Automated Teller Machines (ATMs).
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The Central Bank of Nigeria (CBN) has urged Nigerians to embrace alternative payment channels such as e-Naira, USSD and other internet banking facilities in line with its cashless policy.
ASHENEWS reports that the Nigeria Labour Congress (NLC), and the Trade Union Congress (TUC) have announced the suspension of their planned nationwide protest scheduled to commence on Wednesday over the scarcity of Naira notes.
Some residents of the Federal Capital Territory (FCT) have called on the Central Bank of Nigeria (CBN) to release more banknotes to money deposit banks to ease hardship.
The Association of Corporate Affairs Managers of Banks (ACAMB) says all bank branches and digital channels will be open for banking services before, during, and after the elections.
The Supreme Court of Nigeria will deliver judgment in the suits filled by some State Governors against the Federal Government over the validity of old Naira notes pronounced by the Central Bank of Nigeria (CBN).
The Kaduna State Governor, Nasir El-Rufai, has directed the revenue collecting agencies in the state, to accept old along with new Naira notes.
The National Programme Manager of the Flour Milling Association of Nigeria (FMAN), Dr. Aliyu Samaila, has said that Nigerian wheat farmers have cultivated a total of 114,000 hectares in 16 states.
As the currency crisis bites harder, with Nigerians now rejecting old Naira notes following the Central Bank of Nigeria (CBN’s) February 10 deadline, Zamfara state governor, Bello Muhammad, has ordered the arrest of anyone in the state who rejects the old N200, N500 and N1,000 denominations.
The Nigerian economy was once described as a “voodoo” economy, “the more you look, the less you understand” as it defies all kinds of known remedies. The mystery of Nigeria as a nation is not limited to its economy but includes socio-political and cultural dispositions. Longtime ago, western pundits postulated, hypothesized, and predicted the disintegration of Nigeria by the year 2015. Time has since revealed their empty prediction; regrettably, however, the nation is still sliding into the abyss of squalor and poverty, exacerbated by the population explosion – a kind of time bomb that must not be allowed to detonate.