Business

There are indications that dependence of Nigeria’s manufacturing sector on imported raw materials is increasing as the value of raw material imports rose to N649.21 billion in the third quarter ended September 30, 2022 (Q3’22). This represents a 23.9 percent Year-on-Year (Y/Y) increase against N523.97 billion the manufacturers spent on …

The Central Bank of Nigeria, CBN, has urged Nigerians to embrace alternative payment channels like the eNaira and internet banking in the face of the cashless policy. This is against the backdrop of challenges being faced by Nigerians sequel to the naira redesign and the naira swap. The Director, Corporate …

Nigerians have urged the federal government to, as a matter of urgency, address the nation in a nationwide national broadcast on the suspension of the deadline for the old naira note swap. On Saturday, residents of Abakaliki, the Ebonyi State capital, who spoke to journalists in separate interviews, said the …

The Central Bank of Nigeria (CBN) says the scarcity of naira notes is not due to a shortage of printing materials at the Nigerian Security Printing and Minting Company (NSPMC). Godwin Emefiele, CBN governor, had been quoted as saying there is a cash shortage because there is not enough capacity …