Business News Roundup From January 28-February 2, 2023

Welcome to the AllNews roundup of the  5 Latest Business News that made the round last week.

Don't Let Naira Redesign Cause More Hardship For Citizens — Reverend Badejo To CBN

The Bishop of the Catholic Diocese of Oyo, Most Rev. Emmanuel Badejo, has called on the Federal Government not to allow Naira notes redesign to cause more hardship for the masses.

Badejo made the call in a statement on Saturday in Ibadan. Read more here.

Old Naira Notes Will be Accepted By Banks After Deadline — CBN Governor

Godwin Emefiele

The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has said banks will continue to accept the old naira notes even after the February 10 deadline for swapping with the newly-designed currency notes.

Emefiele stated this while appearing before the House of Representatives committee on the new naira redesign and swap policy on Tuesday. Read more here.

Lagosians Groan As Scarcity Of New Naira Notes Hits Hard

Some Lagos residents have expressed their frustration and anger as they spend hours in long queues without being able to withdraw cash via Automated Teller Machines (ATMs).

Some of the residents who spoke during an interview with the News Agency of Nigeria (NAN) called on the Central Bank of Nigeria (CBN) to compel the commercial banks to dispense the new notes at their ATMs to ameliorate the sufferings of the people. Read more here.

Each Bank Branch Gets N30 Million Of New Naira Notes Daily — CBN

To increase customers' access to the new naira notes, the Central Bank of Nigeria (CBN), Bauchi State has revealed that it allocates N30 million new naira notes daily to each branch of banks in the state.

 Abdulkadir Jibrin, an official of the apex bank said this while monitoring banks in Bauchi on Monday to ensure access to new naira notes for residents of the state. Read more here.

Naira Swap Causing Hardship, Disrupting Economic Activities — NACCIMA

The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has said that the naira swap exercise  is causing untold hardship to the citizens, and has largely disrupted economic activities in the country,

Oluola Obadimu, the Director-General of the association, Olusola Obadimu, who said this while speaking with Punch, added that the Central Bank of Nigeria’s inability to manage the hardships associated with phasing out old naira notes has traumatised Nigerians. Read more here.

These are the latest Business news that made trends during the week. Visit our website https://allnews.ng for more Business news around the world.